HONG KONG, November 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 smart rest stations to domestic 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 intelligent 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 expect 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 of intelligent cloud service, advertising media operation and intelligent commercial display systems, to create an all-new intelligent rest station product with modular space features and mobiles.
Mr. Lin Jianghuai, Chairman and CEO of Taoping, said, “We are delighted to work with DoWatch Technology in this strategic cooperation, given its impressive penetration in the domestic tourism market, with an established presence in more than of 800 tourist areas across the country. We believe that the cooperation between Taoping and DoWatch Technology will help accelerate the adoption of Taoping Smart Rest Station in major tourist attractions and related areas across the country. Additionally, the two parties will cooperate in advertising media resources to further expand and enhance 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 and routine use of individuals and families with different needs and scenarios. With its unique and novel appearance, flexible and rich function area layouts, the smart rest station quickly wins the favor of Taoping partners and the market. Adopting the company’s state-of-the-art intelligent rest station product, with its highly hygienic, energy-saving and humanized design, can solve the widespread problems of toilet construction, expensive consumables and disposal, to improve the 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 difficult. The lack of clean, attractive and functional rest stations is a real problem and one that the government has included in its priority areas to address. Taoping took a long time to develop our smart rest station product and used feedback to refine the look and functionality. We are excited to have a modular product in production that offers a lower cost of ownership and operation, with faster installation and an overall better user experience.”
Shenzhen Qianhai DoWatch Technology Co., Ltd. is a high-tech company principally engaged in the research of Internet of Things applications and related products. The company’s R&D team has more than ten years of rich experience and research achievements in the fields of electronic information, communication control, sensor application, industrial design and product integration. Especially in the field of intelligent sightseeing telescope products, which is the first mobile scan code payment in China, it owns 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 intelligent tourist telescope project has more than 400 national cooperative tourist sites, and was launched in Vietnam, Thailand and other Southeast Asian countries.
About Taoping Inc.
Taoping Inc. (NASDAQ: TAOP) is a provider of blockchain technology and intelligent cloud services. 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 crypto digital currency industry. Based on its self-developed smart cloud platform, TAOP also provides cloud solutions and 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 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 have attempted to identify forward-looking statements by using words such as “anticipates”, “believes”, “may”, “continues”, “could”, “estimates”, “expects”, “has intends”, “may”, “plans”, “potential”, “predicts”, “should” or “will” or the negative form of these terms or any other comparable terminology. Our actual results may differ materially or possibly significantly from those discussed herein, or implied by, these forward-looking statements. A number of important factors could cause actual results to differ materially from the statements made in this press release, including: our potential inability to achieve or maintain profitability or reasonably predict our future results due to our history of limited use of 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 legal system and economic, political and social events China, stock market volatility; and other risks, including, but not limited to, those discussed or referred to by us in the Company’s disclosure documents filed with the United States 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 provided 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, except as required by applicable law.
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