China Information Security (CPBY) Signs $5M Contract for Traffic Management at 16th Asian Games
China Information Security Technology, Inc. (Nasdaq: CPBY) today announced that it recently signed a contract valued at approximately US$5 million, to provide an intelligent traffic management system (the "System") for the 16th Asian Games held in Guangzhou, China. The contract is expected to be completed and revenue recognized within the next 12 months.
Under the contract, the Company will integrate its GIS software with the existing communication and police access platforms, to realize a visualized and consolidated intelligent traffic control and management system for the Guangzhou Traffic Police Bureau. Specifically, the Company has agreed to set up 130 traffic data collection sites and 20 traffic screens on major roads affected by the Asian Games, use its proprietary GIS software to analyze such traffic data and help determine the best routes for redirecting traffic away from highly congested areas.
Mr. Jiang Huai Lin, Chairman and CEO of the Company, commented, "This win marks the extension of our GIS solutions to intelligent traffic management. We are highly encouraged by this high profile contract win, which we believe highlight our ability to integrate many of our capabilities and deliver highly efficient solutions to increasingly complex problems that affect our day-to-day lives. We believe that successful implementation of this project will meet our goal of developing a single platform that will allow for effective information sharing and traffic control with data collection and decision making functions. We are confident that our expanding portfolio of capabilities will enable us to continue to differentiate ourselves and grow our business nationwide"
Under the contract, the Company will integrate its GIS software with the existing communication and police access platforms, to realize a visualized and consolidated intelligent traffic control and management system for the Guangzhou Traffic Police Bureau. Specifically, the Company has agreed to set up 130 traffic data collection sites and 20 traffic screens on major roads affected by the Asian Games, use its proprietary GIS software to analyze such traffic data and help determine the best routes for redirecting traffic away from highly congested areas.
Mr. Jiang Huai Lin, Chairman and CEO of the Company, commented, "This win marks the extension of our GIS solutions to intelligent traffic management. We are highly encouraged by this high profile contract win, which we believe highlight our ability to integrate many of our capabilities and deliver highly efficient solutions to increasingly complex problems that affect our day-to-day lives. We believe that successful implementation of this project will meet our goal of developing a single platform that will allow for effective information sharing and traffic control with data collection and decision making functions. We are confident that our expanding portfolio of capabilities will enable us to continue to differentiate ourselves and grow our business nationwide"
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