SHENZHEN, China, June 6, 2023
/PRNewswire/ -- Taoping Inc. (NASDAQ: TAOP, the "Company" or
"Taoping"), today announced that the Company secured another
RMB 10 million (approximately
US$1.4 million) contract to supply
its innovative Smart Rest Stations, autonomous cleaning robots, and
other related products and services to Shenzhen Huaqi Technology
Co., Ltd. (Huaqi). The latest RMB 10
million contract with Huaqi follows May 1, 2023 news of Taoping's RMB 11 million contract from Beijing Huida
Dianjian Technology Co., Ltd., and reflects the increased business
momentum the Company is benefitting from.
Founded in 2016, Huaqi is a high-tech company engaged in
generative AI visual related products and services. Under the
agreement, initial deliveries to Huaqi are expected to commence
over the next few weeks, with the full order being completed over
the coming quarters.
This latest contract win underscores the increased demand and
long-term potential for the Taoping'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 cleaning robots,
as well as supporting servers, logistics, installation, and
commissioning services. By offering a comprehensive range of
innovative and scalable products and services, Taoping believes it
is well-positioned to fulfill a growing share of the increasing
opportunities for smart city technologies and infrastructure
improvements in China.
Mr. Lin Jianghuai, Chairman and CEO of Taoping, said: "We are
thrilled to announce our latest partnership with Huaqi, which
further validates the growing recognition and demand for our
innovative and end-to-end Smart Rest Station solutions. There is an
urgent need for more efficient, eco-friendly, and cost-effective
solutions, and we are proud to deliver just that. In addition to
helping to significantly enhance the efficiency of urban
infrastructure and environmental protection initiatives in some of
China's most critical cities, by
partnering together we help increase the economic robustness and
desirability for businesses and residents. This in turn, helps
create significant value."
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. For more information about Taoping, please visit
www.taop.com. You can also follow us via LinkedIn, Twitter or
YouTube.
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.