SHENZHEN, China, July 18,
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 a further expansion of
its AI business with a new order for the Company's enhanced
AI-powered Smart Terminals, which 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.
Mr. Lin Jianghuai, Chairman and CEO of Taoping, said: "This is
another major customer win, as we benefit from increased demand for
our enhanced AI-based products and solutions, in advertising, media
and other important markets. We are well positioned to benefit from
this accelerating, technology driven trend. We plan to more
aggressively pursue new large-scale opportunities driven by the
latest technology trends that can positively impact our revenue
growth and build shareholder value."
The latest order is from Lu'an Wanjiang Advertising Media Co.,
Ltd. ("Lu'an Media"). Lu'an Media will initially purchase Taoping's
enhanced AI-powered Smart Terminals valued up to approximately
US$600,000, which will be installed
in hundreds of local supermarkets, office buildings, residential
communities and other scenarios in Lu'an City. In addition to
enhanced AI-powered Smart Terminals, Taoping will support Lu'an
Media with one-stop technical services based on Taoping's popular
Cloud Nest AI system help Lu'an Media leverage a new "AI +
advertising marketing" scenario application.
Taoping and Lu'an Media plan to deepen their cooperative
relationship by leveraging Taoping's national city-partner network
and other resource advantages, and focus on expanding the
implementation and application of enhanced AI-powered Smart
Terminals in Lu'an and other cities in Anhui Province.
According to ChinaIRN.com, the size of the advertising terminal
market in China will exceed
10 billion RMB by 2026, driven by the
upgrading of advertising terminals and accelerated construction of
smart cities. Applications based on big data and artificial
intelligence, including touch technologies, voice and face
recognition, and dynamic capture are becoming more prolific in
retail environments.
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.