Companies to Jointly Promote Accelerated Adoption of
Taoping's New Smart Rest Station Product and Large Screen Display
Products
HONG
KONG, Nov. 17, 2022 /PRNewswire/ -- Taoping Inc.
(NASDAQ: TAOP, the "Company" or "Taoping") today announced the
Company signed a three-year strategic cooperation agreement with
ZhongShengShi Co., Ltd. ("ZhongShengShi") and expected to generate
more than US $14 million for Taoping
over the term of the agreement. The two companies will jointly
promote the accelerated adoption of Taoping's new smart rest
station and large screen display products across China.
Taoping's recently launched smart rest station product combines
technology, portability, flexibility and cleanliness to boost smart
city development. Taoping's new product integrates its three core
businesses: intelligent cloud service, advertising media operation
and smart business display systems, to create an all-new smart rest
station product with modular and mobile space features. Taoping and
ZhongShengShi will work together to drive penetration of
Taoping's new smart rest stations at high-tech industrial parks,
manufacturing bases and other high traffic areas nationwide.
Taoping's smart rest station combines multiple functional rooms
suitable for clean, routine usage of individuals and families with
different needs and scenarios. With its unique and novel
appearance, as well as its flexible and rich function area layouts,
the Company believes the smart rest station is quickly winning the
favor of Taoping's partners and the market.
Mr. Lin Jianghuai, Chairman and CEO of Taoping, said, "We are
excited to be partnering with ZhongShengShi, as we combine our
compelling new product with another strong partner, able to further
strengthen our capabilities and resources as we accelerate adoption
across China. We look forward to
the mutual benefit to be gained by leveraging ZhongShengShi's
operating expertise and the platform it has built through its
investments in domestic high-tech industrial parks and
manufacturing bases, commercial office areas and
government-supported business growth cooperations."
Mr. Lin continued, "The addition of ZhongShengShi as another
important partner underscores the extensive market potential of
Taoping's smart rest station product given how customizable it is
and the extensive improvements it offers over traditional products.
Longer term, we expect to build further shareholder value as we
successfully execute on our integrated business model, which
combines equipment sales, module space leasing, display solutions,
outdoor advertising and other products, in order to provide our
partners with a highly valuable, nationwide, end-to-end
solution."
About ZhongShengShi Co., Ltd.
Headquartered in Shenzhen,
ZhongShengShi Co., Ltd. is a high-tech enterprise in the whole
industry chain integrating R&D, production and sales of
high-end intelligent products. The products include intelligent AI
robots, communication products, tablet computers, intelligent
wearables and other electronic and digital products. The group is
equipped with R&D center, intelligent manufacturing center,
sales center, whole industry chain division, etc. At the same time,
it develops investment and operation of industrial parks and
incubation services for high-tech industries. There are more than
30 production bases with a total area of more than 300,000 square
meters, mainly distributed in the Pearl River Delta, with an annual
output value of nearly RMB 5 billion,
a tax contribution of nearly RMB 100
million, and more than 1800 employees nationwide.
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
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, 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 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.