The Company aims to become the largest transportation information products and comprehensive solutions provider in China as well as the largest real time transportation-information platform operator and provider. The Company provides their services and solutions through their affiliate, China TransInfo Technology Group Co., Ltd., (the Group Company) and the Group Company’s PRC operating subsidiaries.
China TransInfo Technology Corp. is developing their transportation system to include Electronic Toll Collection (ETC) technology. They are a co-formulator of several transportation technology national standards. The Company owns software copyrights for 88 software products and has won 5 of the 10 model cases sponsored by the PRC Ministry of Communications. Their affiliation with Peking University provides the Company access to the University’s GeoGIS Research Laboratory. China TransInfo Technology Corp. is playing a key role in setting the standards for electronic transportation information solutions.
Last week, the Company announced that they received RMB 4 million (approximately USD $0.6 million) in technology innovation funds from the Beijing government. This is for the TransPLE Passenger Flow Statistic, Detecting and Analysis System (TransPLE). The TransPLE, an equipment and monitoring service system, launched in August 2009. The system tracks transit passengers in high-density areas, such as metro stations, railway stations, and airports.
Today, China TransInfo Technology Corp. announced that they expanded their real-time traffic application coverage to Dalian and Nanjing effective January 15, 2010. China TransInfo Technology Corp. now offers five versions of their real-time traffic mobile phone application software in 10 cities. This software is downloadable free.
The Company also announced that they recently formed a cooperative relationship with Baidu, Inc. (NASDAQ: BIDU). Based on the agreement, the Company will provide real-time traffic information for Baidu’s map searching service in Beijing, Shanghai, Shenzhen, Chengdu, and Chongqing. Additionally, China TransInfo and Baidu will collaborate to develop new applications for mapping real-time traffic information searching services. This cooperation will allow China TransInfo to adopt Baidu’s mapping technologies and interfaces.