SHENZHEN, China, May 1, 2023
/PRNewswire/ -- Taoping Inc. (NASDAQ: TAOP, the "Company" or
"Taoping"), today announced that it won an RMB 11.1 million (approximately US$1.6 million) contract from Beijing Huida
Dianjian Technology Co., Ltd. ("Huida"). Under the agreement,
Taoping will supply its innovative Smart Rest Stations, autonomous
street sweepers, and other related products and services. Initial
deliveries are expected to commence over the next few weeks, with
the full order being completed over the coming quarters.
This latest contract win opens a new regional market for Taoping
and further demonstrates the revenue potential for the Company's
innovative Smart Rest Station products and services. The contract
is structured along the same lines as earlier agreements for
Taoping's next-generation Smart Rest Station, integrated with its
fully autonomous street sweepers, as well as supporting servers,
logistics, installation, and commissioning services. Huida is a
Beijing-based high-tech company
engaged in computer system and industrial automation development
and applications.
Mr. Lin Jianghuai, Chairman and CEO of Taoping, said: "We are
excited to announce this new contract with Huida, which underscores
the momentum we are building with customers as the value of our
integrated Smart Rest Station solutions becomes more widely
recognized. There is clearly a great need for more effective,
cleaner, cost effective and modern solution. By leveraging our
extensive technology expertise and national network relationships,
we are able to offer customers a superior solution. For example,
Taoping's fully autonomous street sweeper was designed with
advanced route learning capabilities, advanced anti-collision
technology, and strong battery life. When integrated with our
modular Smart Rest Station, we are able to significantly enhance
the efficiency of urban infrastructure and environmental protection
efforts in China's most important
cities."
Mr. Lin continued, " Taoping has reached another significant
achievement with this new contract, which will help the company to
increase its market share. As we continue to execute our growth
strategy, we expect to obtain more contracts and further broaden
Taoping's revenue base in in the rapidly growing smart city sector.
By offering a comprehensive range of innovative and scalable
products and services, Taoping is well-positioned to fulfill a
growing share of the increasing opportunities for smart city
technologies and infrastructure improvements in China."
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.