SHENZHEN, China, Aug. 12,
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 reported a total contract
revenue value of approximately RMB 27.4
million (approximately USD $3.8
million) for the month of July
2024, representing 30% growth compared to July 2023, driven by strong demand for its
AI-based products.
Mr. Lin Jianghuai, Chairman and CEO of Taoping, said: "This
impressive and consistent growth strengthens our confidence in the
unprecedented opportunities for further revenue growth acceleration
ahead of the Company. This growth is being led by both macro
opportunities, including the surge in AI-related demand, and
Taoping-specific catalysts, including our expanded product
portfolio and deep customer relationships."
"Business across all industries are actively integrating AI to
achieve greater operating efficiencies and asset utilization
levels. This specific example illustrates a trend that we believe
will drive a significant portion of the economy in both up and down
markets. For Taoping, we believe we are well-positioned to
benefit from, this multi-year growth trend, given our
differentiated products and unique ability to capture, analyze and
enhance the user experience through a seamless and interactive
experience."
Taoping's enhanced AI-powered Smart Terminals offer a powerful
combination of efficiency, customization, and engagement, making
them a compelling choice for businesses looking to optimize their
operations and enhance customer interactions. These terminals
facilitate rapid interaction, data collection, analysis, and more,
thereby enhancing the user experience through a seamless and
interactive experience.
By leveraging advanced AI technology, Taoping enables customers
to respond quickly to user inputs, personalize content, and offer
intuitive interfaces. Taoping's AI-powered Smart Terminals can
collect and analyze data in real-time, providing valuable insights
and enabling informed decision-making. Using Taoping's AI-powered
Smart Terminals is particularly beneficial for businesses looking
to understand customer behavior and preferences.
For advertisers, Taoping's AI-powered Smart Terminals can
autonomously generate a wide range of advertising content, while
enabling the creation of highly tailored promotional strategies.
This approach reduces the time and resources required for content
creation, ensures a consistent and high-quality output, and
increases engagement and conversion rates.
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
http://en.taop.com/index.html. 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.
