China Information Technology Development (CITD) Limited announces MOU with Autostereoscopic 3D Limited (3D Tech)

HONG KONG,March 10,2023 --China Information Technology Development Limited (CITD) is pleased to announce that it has entered into a memorandum of understanding (MOU) with Autostereoscopic 3D Limited (3D Tech).

CITD,a company that has an established track record in the technology space,has 2 key business units – Macro Systems Limited (Macro Systems),and DataCube Research Centre Limited (DataCube).

Founded in 1997,Macro Systems has served more than 1,000 corporate customers worldwide,including those in the infrastructure,cybersecurity,IoT and AI sectors.

DataCube was foundedin 2015 and is focused on developing advanced Artificial Intelligence (AI) technologies for application in data modelling as well as big data analytics. The development of these technologies were spearheaded by industry veterans including graduates from Washington University in St. Louis,whom has previously served as a senior director in one of the top five insurance companies in the United States with 12 years of industry experience and is experienced in developing enterprise-grade machine learning solutions and graduates from Yale University whom had worked as adata science director in a top US financial institution with 14 years of relevant industry experience including leadership roles at many Fortune 500 companies in establishing data analytics solutions.

3D Tech is a company that has award winning autostereoscopic 3D technology patents accumulated over the past decade. 3D Tech is majority owned by renowned,but low-profile,billionaire tech entrepreneur,Dr. Herbert Lee,who is presently Group Chairman of XBE Group.

Mr. Wong King Shiu,Daniel,Chairman and CEO of CITD,said "We are delighted to have this opportunity to work with Dr. Lee. Whilst we are unable to provide any details at this stage,we will be releasing more information at the appropriate time."

"We are undoubtedly very impressed with the AI technologies developed by CITD. We are looking forward to the completion of our partnership described in the MOU and will make the relevant announcements accordingly",said Mr. Julian So,Group CEO of XBE Group.

Mr. Joshua Chu,Group Chief Risk Office of XBE,added,"This collaboration will further our Group's aim at continued developments which runs in parallel with the Government of Hong Kong's aim at propelling the city's status from being Asia's premier financial centre to that of the premier smart city in Asia. No doubt that with the integration of CITD's AI Technologies with our group's 3D Autostereoscopic Technologies,this combination will result in a powerful new wave of augmented realities services ready for easy adoption by the greater public in the entire region."

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