Taoping Unveils Strategic Framework Contract Valued at US$3 Million

Taoping Inc. (Nasdaq: TAOP, the “Company” or “TAOP”), today announced that it entered into a strategic framework contract with an estimated value at US$3 million. Under the agreement, over the next six months the Company will leverage Taoping’s smart cloud platform and the cloud-based ad terminal network of Taoping Alliance to provide digital advertising services to Shenzhen Taitao Electronic Technology Co., Ltd., an electronic component solutions provider headquartered in Shenzhen, China.

Mr. Lin Jianghuai, Chairman and CEO of Taoping said, “We are very excited to be regaining business momentum led by the recovery of the new media and advertising business in China. This agreement is a direct recognition of our proven track record and extensive success to date in the buildout and overwhelmingly positive response from customers.”

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“We look forward to the acceleration of our buildout strategy as we continue to help customers to leverage our technological advantages in the field of new media information platforms. By making full use of the competitive advantages of our different partners, we are able to provide comprehensive solutions to customers that improve efficiencies and reduce operating costs. Accelerating and expanding the promotion and implementation of Taoping’s new media and information integration solutions will help further raise our brand visibility and drive growth, as we benefit from rapidly recovering demand amid the ongoing economic reopening in the post-epidemic era. By continuing to develop the two core advantages of Taoping’s more than 200 city alliance network and Taoping intelligent cloud platform, we expect to increase our profitable revenue growth and promote the vigorous development of Taoping’s digital ecological business.”

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