TAOP Signs Strategic Cooperation Framework Agreement with Shanghai Guanghua Education and Wuhu Sasan
March 29 2021 - 8:00AM
Taoping Inc. (NASDAQ: TAOP, the “Company”), a provider of
Internet-based smart display screens, and a new-media ecosystem
that enables targeted advertising and online retail, announces
today that it has entered into a strategic cooperation framework
agreement with Shanghai Guanghua Education Investment Management
Co., Ltd. (“Shanghai Guanghua Education”) and Wuhu Sasan Education
Management Co., Ltd. (“Wuhu Sasan”), a majority-owned subsidiary of
Shanghai Guanghua Education for a term of three years.
Established in 1999, Shanghai Guanghua Education
is an education technology service provider engaged in education
technology system development, education course content
development, education business investment, consulting and
management, and sales of technological equipment and stationery.
Its main customers are the private schools under the Guanghua brand
located in Wuxi city, Hefei city, Ningbo city, and Kunming city.
Founded in 2019, Wuhu Sasan is engaged in education management,
education project research, education course content development,
education software development, educational activities planning and
sales of teaching supplies.
As part of the agreement, TAOP and Wuhu Sasan
intend to form a joint venture company in Wuhu city, China. TAOP
and Wuhu Sasan will own 51 percent and 49 percent equity interests
in the joint venture, respectively. The business of the joint
venture company is expected to be part of TAOP’s newly created
Digital Culture Business Division.
The joint venture plans to:
- Digitalize the high-quality educational resources of Shanghai
Guanghua Education and Wuhu Sasan through TAOP’s smart cloud
platform.
- Provide online education through TAOP’s smart cloud
platform.
- Work together on study abroad and Project-Based Learning (PBL)
programs.
- Co-develop cloud rendering business backed by TAOP’s smart
cloud.
- Explore potential cooperation in the fields of cloud computing,
cloud desktop and non-fungible token (NFT).
“While distance learning became the top 2020
education technology trend, we see a constantly growing demand for
high-quality education technology service,” said Mr. Jianghuai Lin,
the Chairman and CEO of TAOP. “By applying technologies such as
cloud rendering to our education platform, we’ll be able to build a
platform with outstanding features and increase the accessibility
and quality of education. We believe the joint venture will be well
positioned to bring new learning experience to our communities of
over 200 cities in China.”
About Taoping Inc.
Taoping Inc. (TAOP), is a leading provider of
smart display terminals and solutions for targeted advertising and
online retails. The Company provides the integrated end-to-end
digital advertising solutions enabling customers to distribute and
manage ads on cloud-based ad display screens. Connecting owners of
Taoping screens, advertisers and consumers, it builds up a resource
sharing "Smart IoT Screen Network- Taoping App - Taoping Go
(e-Store)" media ecosystem to ultimately achieve the mission "our
technology makes advertising and branding affordable and effective
for everyone." To learn more, please visit
http://www.taop.com/.
Safe Harbor Statement
This press release may contain certain
"forward-looking statements" relating to the business of Taoping
Inc., and its subsidiaries and other consolidated entities. All
statements, other than statements of historical fact included
herein, are "forward-looking statements" in nature within the
meaning of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements, often identified by the use of
forward-looking terminologies such as "believes", "expects" or
similar expressions, involve known and unknown risks and
uncertainties. Although the Company believes that the expectations
reflected in these forward-looking statements are reasonable, they
do involve assumptions, risks and uncertainties, and these
expectations may prove to be incorrect. Investors should not place
undue reliance on these forward-looking statements, which speak
only as of the date of this press release. The Company’s actual
results could differ materially from those anticipated in these
forward-looking statements as a result of a variety of factors,
including those discussed in the Company’s periodic reports that
are filed with the Securities and Exchange Commission and available
on its website (http://www.sec.gov). All forward-looking statements
attributable to the Company and its subsidiaries and other
consolidated entities or persons acting on their behalf are
expressly qualified in their entirety by these factors. Other than
as required under the securities laws, the Company does not assume
a duty to update these forward-looking statements.
For further information, please contact:
Taoping Inc.Chang
QiuEmail: chang_qiu@taoping.cnhttp://www.taop.com/or
Dragon Gate Investment Partners LLCTel:
+1(646)-801-2803Email: taop@dgipl.com
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