HONG
KONG, Oct. 6, 2022 /PRNewswire/ -- Taoping Inc.
(Nasdaq: TAOP, the "Company" or "TAOP"), today announced that it
entered into a strategic framework contract with an estimated value
at US$3 million. Under the agreement,
over the next six months the Company will leverage Taoping's smart
cloud platform and the cloud-based ad terminal network of Taoping
Alliance to provide digital advertising services to Shenzhen Taitao
Electronic Technology Co.,
Ltd., an electronic component solutions provider headquartered in
Shenzhen, China.
Mr. Lin Jianghuai, Chairman and CEO of Taoping said, "We are
very excited to be regaining business momentum led by the recovery
of the new media and advertising business in China. This agreement is a direct recognition
of our proven track record and extensive success to date in the
buildout and overwhelmingly positive response from customers."
"We look forward to the acceleration of our buildout strategy as
we continue to help customers to leverage our technological
advantages in the field of new media information platforms. By
making full use of the competitive advantages of our different
partners, we are able to provide comprehensive solutions to
customers that improve efficiencies and reduce operating costs.
Accelerating and expanding the promotion and implementation of
Taoping's new media and information integration solutions will help
further raise our brand visibility and drive growth, as we benefit
from rapidly recovering demand amid the ongoing economic reopening
in the post-epidemic era. By continuing to develop the two core
advantages of Taoping's more than 200 city alliance network and
Taoping intelligent cloud platform, we expect to increase our
profitable revenue growth and promote the vigorous development of
Taoping's digital ecological business."
About Taoping Inc.
Taoping Inc. (NASDAQ: TAOP) is a blockchain technology and smart
cloud services provider. The Company is dedicated to the research
and application of blockchain technology and digital assets, and
continues to improve computing power and create value for the
encrypted digital currency industry. Relying on its self-developed
smart cloud platform, TAOP also provides solutions and cloud
services to industries such as smart community, new media and
artificial intelligence. To learn more, please visit
http://www.taop.com/.
Safe Harbor Statement
This press release contains "forward-looking statements" that
involve substantial risks and uncertainties. All statements other
than statements of historical facts contained in this press
release, including statements regarding our future results of
operations and financial position, strategy and plans, and our
expectations for future operations, are 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. We have attempted to identify forward-looking statements
by terminology including "anticipates," "believes," "can,"
"continue," "could," "estimates," "expects," "intends," "may,"
"plans," "potential," "predicts," "should," or "will" or the
negative of these terms or other comparable terminology. Our actual
results may differ materially or perhaps significantly from those
discussed herein, or implied by, these forward-looking
statements. There are a significant number of factors that
could cause actual results to differ materially from statements
made in this press release, including: our potential inability to
achieve or sustain profitability or reasonably predict our future
results due to our limited operating history of providing
blockchain technology and smart cloud services, the effects of the
global Covid-19 pandemic, the emergence of additional competing
technologies, changes in domestic and foreign laws, regulations and
taxes, uncertainties related to China's legal system and economic, political
and social events in China, the
volatility of the securities markets; and other risks including,
but not limited to, those that we discussed or referred to in the
Company's disclosure documents filed with the U.S. Securities and
Exchange Commission (the "SEC") available on the SEC's website at
www.sec.gov, including the Company's most recent Annual Report on
Form 20-F as well as in our other reports filed or furnished from
time to time with the SEC. The forward-looking statements included
in this press release are made as of the date of this press release
and TAOP undertakes no obligation to publicly update or revise any
forward-looking statements, other than as required by applicable
law.
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SOURCE Taoping Inc.
