SHENZHEN, China, May 30, 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 receipt of a new AI-powered Smart Terminal contract
valued over US$1 million. The Company
concurrently entered a strategic cooperation agreement with
Zhenjiang Fengchao Information Technology Co., Ltd. ("Zhenjiang
Fengchao Technology" or "ZFT") to accelerate market penetration of
Taoping's cutting-edge AI-powered Smart Terminals.
Taoping's recently launched enhanced AI-powered Smart Terminals
leverage high-end video displays to seamlessly integrate AI
technology. This facilitates rapid interaction, data collection,
analysis, and more, thereby optimizing the user experience.
Initially targeting advertisers, these enhanced terminals enable
autonomous generation of diverse advertising content, including
text-to-image, posters, and video ads. Such capability aligns with
tailored promotional strategies, offering extensive
customization options. Moreover, this functionality allows the
terminals to engage audiences naturally and instantly,
significantly enhancing the efficacy of advertising media within
Taoping's ecosystem.
Under the strategic cooperation agreement, ZFT will assist
Taoping in boosting sales of its upgraded AI-powered Smart
Terminals. Initially, ZFT will concentrate its efforts on cities
including Zhenjiang, Changzhou,
Yangzhou, and Xuzhou in Jiangsu
Province.
Mr. Xu Qiang, General Manager of ZFT, said: "With over 20 years
of experience in the real estate sector, I am highly optimistic
about the potential of AI technology in transforming real estate
marketing. In our collaboration with Taoping, we will utilize our
professional resources and actively promote the deployment of
Taoping's AI Smart Terminals across the real estate industry."
Mr. Xu continued, "Having collaborated on numerous successful
real estate projects throughout Jiangsu
Province and managing nearly 1,000 real estate agency
stores, we are confident in the significant opportunity to assist
in the implementation of Taoping's cutting-edge AI-powered Smart
Terminals."
Mr. Lin Jianghuai, Chairman and CEO of Taoping, said: "I am very
pleased to partner with ZFT. In addition to offering enhanced
AI-powered Smart Terminals, Taoping will continue to provide AI
technical services through a subscription model. We are committed
to supporting our partners in accelerating the development of
innovative applications, including AI-enhanced interactive displays
and AI-driven digital marketing for real estate. With general
artificial intelligence technology continues to advance and
commercialize, our proprietary Cloud Nest AI system will enable
various AI-driven scenarios."
"We are confident that our efforts will drive sustainable
revenue growth, expand gross margin, increase profitability, and
enhance shareholder value for all Taoping's stakeholders. In the
next phase of our expansion, we aim to accelerate the deployment of
our enhanced AI-powered Smart Terminals across more regions and
scenarios nationwide."
About Zhenjiang Fengchao Technology:
Zhenjiang Fengchao Information Technology Co., Ltd. is a premier
real estate marketing planning company in Zhenjiang. The company's
core management team boasts nearly 20 years of experience in real
estate marketing and is composed of marketing elites who have been
deeply involved in the real estate market for many years. This team
includes a diverse array of internal and external talents,
ensuring comprehensive expertise. Since its inception, the
company has leveraged its professional resource to rapidly expand
its operations to cities such as Changzhou, Yangzhou, and Xuzhou, focusing on
channel marketing, integration, and self-development business. It
boasts nearly a thousand cooperative intermediary stores in
Zhenjiang, Changzhou, Yangzhou,
and Xuzhou. Additionally, the data accumulation and conversion
capabilities of its self-development business team are recognized
as market-leading.
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 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.