SHENZHEN, China, Jan. 25,
2024 /PRNewswire/ -- Taoping Inc. (Nasdaq: TAOP, the
"Company"), a developer of innovative smart Cloud platform services
and solutions, new media and artificial intelligence solutions,
today announced that the Company's revenue momentum is being driven
by increasing demand for its innovative off-grid wastewater
treatment solutions. The Company is capitalizing on this demand by
offering high-efficiency, market-priced solutions that come with
comprehensive support throughout the entire project lifecycle. This
one-stop support spans project planning, construction,
implementation, operation, maintenance, and integration with
Taoping's powerful Cloud Nest AI system and intelligent Cloud
platform.
Mr. Lin Jianghuai, Chairman and CEO of Taoping, said: "We are
dedicated to investing in cutting-edge solutions for off-grid
wastewater treatment and pollution control, giving us a competitive
edge and driving revenue growth. Our mission revolves around
providing clean water for a cleaner world, a message that strongly
resonates with decision-makers prioritizing local environmental
cleanup. The resurgence of outdoor activities post-pandemic and the
heightened demand for clean water are positively impacting our
business. Simultaneously, our innovative wastewater treatment
solutions are making a significant impact by empowering communities
in developing countries and remote areas. We firmly believe that
clean, healthy water is a fundamental right for everyone, not a
luxury."
Examples of Taoping's increased momentum include partnering in
support of recently constructed sewage treatment projects, where
Taoping supplied the hardware construction of off-grid sewage
treatment facilities and supporting pipe networks. These projects
are integrated with Taoping's intelligent operation and maintenance
system aided by the Company's powerful Cloud Nest AI system and
intelligent Cloud platform to significantly increase operations and
cost efficiencies of maintenance management. Pilot projects been
implemented in provinces across China. The completion of new projects and the
expansion of the order pipeline indicate ongoing growth and success
for the Company.
Mr. Lin Jianghuai, added, "The rapid urbanization in
China has led to a significant
increase in domestic sewage discharge. While efforts have been made
to control water pollution and improve the environment, many towns
and villages still face challenges with inadequate drainage system
facilities. The domestic sewage treatment market has vast
opportunities for improvement, given issues like clutter,
dispersion, and a lack of unified planning. The nationwide
implementation of sewage treatment projects is playing a crucial
role in advancing the construction of smart cities and promoting
rural revitalization. This in turn has contributed to higher
revenue growth for Taoping, which we are positioned to benefit from
over the coming years given ongoing efforts to address sewage
treatment challenges associated with urbanization."
About Taoping Inc.
Taoping Inc. (Nasdaq: TAOP) has a long history of successfully
leveraging technology in the development of innovative solutions to
help customers in both the private and public sectors to more
effectively communicate and market to their desired targets. The
Company has built a far-reaching city partner ecosystem and
comprehensive portfolio of high-value, high-traffic areas for its
products, which are aligned together with Taoping's smart cloud
platform, cloud services and solutions, new media and artificial
intelligence. For more information about Taoping, please visit
www.taop.com. You can also follow us on X.
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, such as statements regarding our estimated future results
of operations and financial position, our strategy and plans, and
our objectives or goals, 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 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 the Company 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.