HONG
KONG, March 29, 2023 /PRNewswire/
-- Taoping Inc. (NASDAQ: TAOP, the "Company" or "Taoping")
today announced the Company has entered into a long-term strategic
cooperation agreement ("Agreement") with Zhaoyuan City,
Shandong Province. Under the
Agreement, Taoping expects to provide customized intelligent
product solutions, including its IoT Smart Rest Station, fully
autonomous street sweeper, smart large screen displays, and Blue
Box off-grid wastewater treatment solution. Zhaoyuan City plans to
provide the Company with multiple channels of support and
preferential policies. As part of the Agreement, both parties will
also work together on low-carbon environmental protection, urban
renewal, rural ecological revitalization, and other related
projects. Zhaoyuan City, located in East China, is an important
industrial and agricultural city, with more than 500,000
residents.
Leveraging its strong technological reserves and advanced
supporting technologies such as AI and IoT, Taoping will provide
Zhaoyuan City with smart city renewal solutions and technical
support, and implement environmental governance projects such as
wastewater, waste gas, and garbage treatment. Based on the concept
of efficient and low-carbon environmental governance, the Company
has combined its digital and intelligent innovative technology
products, including its IoT Smart Rest Station with fully
autonomous street sweeper and its new off-grid wastewater treatment
solution, which will effectively improve the overall public service
and environmental protection level for both urban and rural
areas.
Mr. Lin Jianghuai, Chairman and CEO of Taoping, said: "We expect
this agreement to serve as the blueprint for other cities trying to
modernize their infrastructure and adopt forward thinking,
environmentally friendly systems. We are excited because this
long-term strategic agreement was structured to leverage our many
IoT and advanced smart technology products to create a powerful,
integrated solution. Importantly, we share the goal of advancing
the digital ecological development strategy of smart cities to
provide a more sustainable environment and a better quality of life
for all residents."
Mr. Lin continued, "Taoping is uniquely positioned to capture
growing market share in the large and expanding global market for
environmentally friendly and smart city solutions. Our track record
of successfully developing IoT and integrated solutions is adding
to our momentum as we leverage our long-term relationships with our
national city partners. We remain committed to ESG, adhering to
innovative development ideas, working together with governments,
and promoting the development of China's low-carbon environmental protection
cause, as we focus on unlocking value for all investors."
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. 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 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.