HONG
KONG, Nov. 9, 2022 /PRNewswire/ -- Taoping Inc.
(NASDAQ: TAOP, the "Company" or "Taoping") today announced that the
company has signed a three-year strategic cooperation agreement
with Shenzhen Qianhai DoWatch Technology Co., LTD. ("DoWatch
Technology"), to jointly expand Taoping's smart rest stations to
national tourist attractions and other areas.
During the term of the agreement, DoWatch Technology will
leverage its own channel advantages to promote the installation and
operation of Taoping's new smart rest stations at popular national
tourist attractions, theme parks and other high traffic areas, with
an estimated contract value of approximately USD $4.0 million. The parties plan to enter into
separate purchase agreements prior to the installation of these
stations.
Taoping's recently launched smart rest station product combines
technology, portability, flexibility and cleanliness to boost smart
city development. Taoping's new product integrates its three core
businesses: intelligent cloud service, advertising media operation
and smart business display systems, to create an all-new smart rest
station product with modular and mobile space features.
Mr. Lin Jianghuai, Chairman and CEO of Taoping, said, "We are
excited to be working with DoWatch Technology in this strategic
cooperation, given its impressive penetration of the national
tourism market, with an established presence at more than 800
tourist areas across the country. We believe the cooperation
between Taoping and DoWatch Technology will help to accelerate
adoption of Taoping's smart rest station at major tourist
attractions and related areas across the country. In addition, the
two sides will cooperate in advertising media resources to further
expand and improve the company's new digital business format built
around offline experiences."
Taoping's new smart rest station combines prefabricated public
toilets with multiple functional rooms suitable for clean, routine
usage of individuals and families with different needs and
scenarios. With its unique and novel appearance, as well as its
flexible and rich function area layouts, the smart rest station is
quickly winning the favor of Taoping's partners and the market.
Adopting the Company's state-of-the-art smart rest station product,
with its highly sanitary, energy efficient and humanized design,
can solve widespread toilet construction problems, high-cost
consumables, and disposal, to improve overall quality and
experience, and better ensure compliance with environmental
protection standards.
Mr. Lin continued, "Our goal is to help improve the quality of
life for people in high-traffic areas that are often quite
challenged. The lack of clean, attractive and functional rest
stations is a real problem and one the government has included in
its priority areas to address. Taoping took a lot of time to
develop our smart rest station product and used feedback to refine
the look and features. We are excited to have a modular product in
production that boasts lower cost of ownership and operation, with
a faster installation and overall higher quality user
experience."
About Shenzhen Qianhai DoWatch Technology Co., LTD.
Shenzhen Qianhai DoWatch Technology Co., Ltd. is a high-tech
company mainly engaged in the research of Internet of Things
application & related products. The R&D team of the company
has more than ten years of rich experience and research
achievements in electronic information, communication control,
sensor application, industrial design and product integration. In
particular, in the field of intelligent sightseeing telescope
products, which is the first mobile scanning code payment in
China, it has more than 40
intellectual property rights and patents, leading in technology
accumulation and innovation, and has been identified as "National
high-tech Enterprise" and "Shenzhen High-tech Enterprise". At
present, the smart sightseeing telescope project has more than 400
domestic cooperative scenic spots, and has been launched in
Vietnam, Thailand and other Southeast Asian
countries.
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
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 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.