Shenzhen, China, July 8, 2024 TAOPING Inc. (Nasdaq: TAOP, the “Company”), a developer of innovative smart cloud platform services and solutions, new media and artificial intelligence solutions, today announced that it has achieved total contracted revenue of approximately 140 million RMB (Approx. USD $19.3 million), which is expected to represent a 32% increase over the same period last year.
Lin Jianghuai, Chairman and CEO of Taoping, said: “Our AI-based products have driven record growth, and based on positive signals from customers and new opportunities, we expect this trend to continue in the second half of the year. We believe the current share price does not fully reflect our strong business fundamentals. We remain focused on executing our business strategy and leveraging our AI-based product portfolio to accelerate growth while unlocking greater value for our shareholders.”
Taoping's enhanced AI-powered smart terminals offer a powerful combination of efficiency, customization and engagement, making them a compelling choice for businesses looking to optimize their operations and enhance customer interactions. These terminals facilitate quick interactions, data collection, analysis and more, improving user experience through a seamless, interactive experience.
By leveraging advanced AI technology, Taoping empowers its customers to respond quickly to user input, personalize content and provide an intuitive interface. Taoping's AI-powered smart terminals collect and analyze data in real time, providing valuable insights and enabling informed decision-making. The use of Taoping's AI-powered smart terminals is particularly beneficial for businesses looking to understand customer behavior and preferences.
For advertisers, Taoping's AI-powered smart terminals autonomously generate a wide range of advertising content and enable the creation of highly customized promotional strategies. This approach reduces the time and resources required for content creation and ensures consistent, high-quality output, improving engagement and conversion rates.
About Taoping Inc.
Taoping Inc. (Nasdaq: TAOP) has a long history of successfully leveraging technology in developing innovative solutions to help both private and public sector clients more effectively communicate and market to their desired targets. The company has built an extensive city partner ecosystem and a comprehensive product portfolio in high-value, high-traffic areas, which work 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 or follow us at: X.
Safe Harbor Statement
This press release contains “forward-looking statements” that involve significant risks and uncertainties. All statements other than statements of historical facts included in this press release, such as statements regarding our projections of our future operating results and financial condition, 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 attempt to identify forward-looking statements by terms such as “anticipate,” “believe,” “can,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “should,” “will,” or the negative of these terms or other comparable terminology. Our actual results may differ materially from those described herein or implied by these forward-looking statements. There are a number of factors that could cause actual results to differ materially from the statements in this press release. These include the fact that our limited business experience in providing smart cloud services may prevent us from achieving or maintaining profitability or making future results reasonably predictable, the impact of the global COVID-19 pandemic, the emergence of additional competing technologies, changes in domestic and international laws, regulations and taxes; Chinese Legal system and economic, political and social events Chinasecurities market volatility, and other risks described or referenced in the Company's disclosure documents filed with the U.S. Securities and Exchange Commission (“SEC”), including those available on the SEC's website at www.sec.gov, our most recent Annual Report on Form 20-F and other reports that the Company may file or make available from time to time with the SEC. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company undertakes no obligation to publicly update or revise any forward-looking statements, except as required by applicable law.
SOURCE Taoping Inc.
