VisionChina Media Announces Strategic Partnership with China Unicom
Company Plans to Establish National WIFI Service Networks on Public Transit Platform in China
April 10, 2014 --
BEIJING, April 10, 2014 /PRNewswire/ -- VisionChina Media Inc. ("VisionChina Media" or the "Company") (Nasdaq: VISN), one of China's largest out-of-home digital television advertising networks on mass transportation systems, today announced it has entered into a strategic partnership with China United Network Communications Group Co., Ltd. ("China Unicom"), China's second largest mobile communications operator. The signing represents a key milestone in VisionChina's mobile internet strategic initiative to establish its national WIFI service networks on the public transit platform in China.
"With hundreds of millions of passengers across China's public transit systems and over 50 minutes of average daily commuting time on buses and subways, we see enormous opportunities for mobile internet networks, with the aim of creating a primary entry point for mobile internet traffic that closely links consumer demand and market supply through our designated media platform," said Mr. Limin Li, VisionChina Media's chairman and chief executive officer, "VisionChina Media has secured a series of exclusive concession agreements in various major cities and is ready to further expand our national footprint. Our partnership with China Unicom is a significant step in the implementation of our mobile internet strategy allowing public transit system passengers to enjoy a wide range of interactive activities via their mobile devices. Moreover, we expect our WIFI service networks will become a vibrant and important market space for O2O service providers and are excited about the long-term growth potential of this new business model."
VisionChina Media and China Unicom have agreed to establish a long-term, strategic cooperation across a number of areas, including mobile communications and mobile broadband, with the ultimate goal of establishing WIFI service networks on public transitacross China. With its extensive knowledge and experience in mobile communication and the operation of smart cities, China Unicom will devote its advanced 3G and 4G mobile communication networks nationwide to support the development of VisionChina Media's designated national WIFI networks, which VisionChina Media will build independently on its existing nationwide mobile television media networks. By fully leveraging the Company's unique advantages in content creation, VisionChina Media plans to provide commuters with enhanced interactive experiences along with high-speed mobile internet access and other value-added mobile communication services.
Mr. Wenke Tian, China Unicom's general manager of corporate customer service, said, "We will take full advantage of our established WCDMA 3G and coming 4G networks to assist VisionChina Media in establishing its next generation of media networks. Both parties will leverage their core competencies to continuously strengthen this cooperation while fueling other related business opportunities to provide customers with quality and convenient mobile internet service, along with the delivery of differentiated information and content."
About VisionChina Media Inc.
VisionChina Media Inc. (Nasdaq: VISN) operates an out-of-home advertising network on mass transportation systems, including buses and subways. As of December 31, 2013, VisionChina Media's advertising network included 111,163 digital television displays on mass transportation systems in 19 of China's economically prosperous cities, including Beijing, Guangzhou and Shenzhen, as secured by exclusive agency agreements or joint venture contract. VisionChina Media has the ability to deliver real-time, location-specific broadcasting, including news, stock quotes, weather and traffic reports, and other entertainment programming. For more information, please visit http://www.visionchina.cn.
Safe Harbor Statement
This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will", "expects", "anticipates", "future", "intends", "plans", "believes", "estimates" and similar statements. Among other things, the quotations from management in this press release contain forward-looking statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding these and other risks is included in the Company's filings with the U.S. Securities and Exchange Commission, including its registration statement on Form F-1 and its annual report on Form 20-F. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.
For investor and media inquiries, please contact:
Ms. Shuning Yi
Investor Relations Department
VisionChina Media Inc.
Mr. Colin Wang
Investor Relations Director
VisionChina Media Inc.
Tel: +86 135-1001-0107
In the United States:
Mr. Justin Knapp
Ogilvy Financial, U.S.
SOURCE VisionChina Media
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