TAOP Signs Strategic Cooperation Agreement for East China Expansion Project
June 11 2021 - 8:00AM
Taoping Inc. (NASDAQ: TAOP, the “Company”), a provider of
blockchain technology and smart cloud services, announces today
that it has entered into a strategic cooperation framework
agreement (the “Agreement”) with Zhenjiang Economic and
Technological Development Zone (“ZETDZ”) for TAOP’s East China
expansion project (the “East China Expansion Project”).
Pursuant to the Agreement, TAOP will set up a
wholly-owned subsidiary in ZETDZ with planned registered capital of
$30 million. ZETDZ will provide support in project construction,
coordination, and operation within the scope of support policies,
and will fully assist in the operation and development of TAOP's
East China Expansion Project.
As an advanced manufacturing base in the Yangtze
River Delta, ZETDZ has a total area of 84.5 square miles. Enjoying
an excellent geographical and strategic position at the
intersection of the Yangtze River and the Beijing Hangzhou Grand
Canal, ZETDZ has unique advantages in location, transportation and
industrial facilities, logistics, and human resource.
TAOP’s East China Expansion Project mainly includes:
- Establishing the Taoping G cloud
data center, mainly serving East China, providing customers with
efficient cloud rendering, cloud desktop, cloud gaming and other
cloud application services;
- Conducting R&D, production and
sales of Taoping digital servers; and
- Launching the Taoping Digital
Culture East China Operation Center to expand digital businesses in
cloud application services, international education, and new
media.
“The cooperation with ZETDZ on our East China
Expansion Project marks another significant step in the deployment
of Taoping’s GPU cloud computing power after the launch of Taoping
G Cloud Data Center in Dongguan and Hong Kong,” said Mr. Jianghuai
Lin, the Chairman and CEO of TAOP. “Establishing a strong presence
in East China will accelerate the development of our cloud
application and digital business in East China market and the
adoption of TAOP smart cloud ecosystem.”
About Taoping
Inc.
Taoping Inc. (TAOP) is an integrated group of
technology and financial companies with business in Mainland China,
Hong Kong, North America and other overseas countries. Relying on
its unique strengths in cloud technology and chip supply chain,
TAOP provides solutions and cloud services to industries such as
film and television production, education, new media, artificial
intelligence and asset management. The Company is dedicated to the
research and application of blockchain technology as well as
investment and management of financial assets at home and abroad.
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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