HONG
KONG, Oct. 18, 2022 /PRNewswire/ -- Taoping Inc.
(Nasdaq: TAOP, the "Company" or "TAOP") today announced that its
wholly owned subsidiary, Taoping Digital Tech. (Jiangsu) Co., Ltd. entered into a three-year
strategic cooperation agreement with Jiangsu SuLiXin Cultural
Creative Group Co., Ltd. ("SuLiXin"). Under the agreement,
SuLiXin will purchase display terminals and services from Taoping,
with the two companies also agreeing to jointly develop larger
scale digital multimedia exhibition hall projects across
China. Specifically, SuLiXin plans to purchase at least
RMB 30 million (US$4.2 million) of equipment from Taoping during
the term of the agreement.
According to the agreement, Taoping will be recognized as a
strategic partner to SuLiXin and the main supplier of DLP, LCD, LED
and other large display screens required for its larger scale,
digital multimedia exhibition hall projects. Taoping has agreed to
leverage the channel advantages of its proprietary city partners
network to actively help promote the development of SuLiXin's
various other cultural exhibition hall project businesses in the
national market, especially in East China.
Mr. Lin Jianghuai, Chairman and CEO of Taoping, said: "Taoping
and SuliXin know each other well, having successfully worked
together previously on other projects in Jiangsu Province. We are excited to be
formally expanding our relationship and view this agreement as an
important milestone for both companies, where we can build on our
respective advantages to our mutual benefit. As the earliest
enterprise involved in large-screen display manufacturing and
system integration in China,
Taoping's proprietary internally developed large-screen displays
have been welcomed by customers for a long time for their best in
class performance and customization. With more than 1,000
successful installations, Taoping has an excellent track record in
a wide range of customer environments, ranging from supermarkets,
office buildings and media boards, to hospitals, electronics,
airports and more."
Mr. Lin Jianghuai continued: "Relying on our national channel of
city partners and the leading intelligent cloud platform as a solid
platform to build on, we believe that the Company's smart displays
can be installed more quickly in digital multimedia exhibition hall
projects giving us an important advantage as we look to empower
customers by promoting digital commercial display technology
efficiently and helping multimedia exhibition halls move more
quickly to digitalization, while continuing to grow our profitable
revenue streams."
About SuLiXin:
As a "famous trademark of Jiangsu
Province" enterprise, SuLiXin has the integrated license of
national exhibition hall design and construction, national
exhibition hall engineering enterprise license, Jiangsu building decoration engineering
professional contracting license and other qualifications. SuLiXin
has focused on the design and construction of cultural and creative
and scientific exhibition halls, with rich experience in creative
design and construction in cultural museums, memorial halls, theme
halls, enterprise halls, cultural theme parks, and more.
About Taoping Inc.
Taoping Inc. (NASDAQ: TAOP) is a blockchain technology and smart
cloud services provider. The Company is dedicated to the research
and application of blockchain technology and digital assets, and
continues to improve computing power and create value for the
encrypted digital currency industry. Relying on its self-developed
smart cloud platform, TAOP also provides solutions and cloud
services to industries such as smart community, new media and
artificial intelligence. To learn more, please visit
http://www.taop.com/.
Safe Harbor Statement
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involve substantial risks and uncertainties. All statements other
than statements of historical facts contained in this press
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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
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"potential," "predicts," "should," or "will" or the negative of
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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 blockchain technology and
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.