SHENZHEN, China, Sept. 13, 2018 (GLOBE NEWSWIRE) -- Taoping Inc. (NASDAQ: TAOP), a leading provider of internet-based ad distribution and ad display terminal sharing systems, today announced that it has entered into a contract for 3,000 terminal sales. Signed with Hainan Taoping IoT Technology Limited (“Hainan Taoping”), the contract is expected to generate sales and service revenue to TAOP of about $1 million.
With the "Smart IoT Terminal - Taoping Net/ App - Taoping E-store" lifestyle media ecosystem that has been fully developed, advertisers (individuals and business owners) will soon be able to distribute real-time ads on the designated cloud-based ad display terminals in residential and office buildings of Hainan province, the nation’s southernmost point.
Today’s news is the thirty-fourth in a series of announcements since May of 2017 of TAOP’s sales of its cloud-based ad terminals. Each transaction is expected to generate recurring service and commission revenue from customers’ use of the Company’s Yunfa advertising distribution system and Taoping Net/ App ad screen sharing platform.
Hainan Taoping as a new member has recently joined the Taoping Alliance, a nationwide advertising resources sharing platform jointly founded by TAOP and Shenzhen Taoping New-Media Limited. Since its establishment in May 2017, the members of Taoping Alliance have increased to sixty-three, with the coverage of over twenty-six provinces out of thirty-four provincial level administrative units.
“Hainan is planned to be a pilot free trade zone by 2020 and transformed into a free trade port by the year 2025. The plan involves inviting international companies to set up their business in Hainan,” said Mr. Jianghuai Lin, the Chairman and CEO of TAOP, “As TAOP’s footprint has established and expanded nationwide, its lifestyle media sharing platform is currently benefiting more local businesses and generating sharing revenues.”
About Taoping Inc.
Taoping Inc. (formerly known as China Information Technology, Inc.) (Nasdaq: TAOP), is a leading cloud-based ad terminal and service provider of digital advertising distribution network and new media resource sharing platform in the Out-of-Home advertising market of China. The Company provides the integrated end-to-end digital advertising solutions enabling customers to distribute and manage ads on the ad display terminals. Connecting cloud-based ad terminal owners, advertisers and consumers, it builds up a resource sharing “Smart IoT Terminal - Taoping Net/ App – Taoping E-store” media ecosystem to ultimately achieve the mission “our technology makes advertising and branding affordable and effective for everyone.” To learn more, please visit http://www.taop.com/.
Safe Harbor Statement
This press release may contain certain "forward-looking statements" relating to the business of Taoping Inc., and its subsidiaries and other consolidated entities. All statements, other than statements of historical fact included herein, are "forward-looking statements" in nature within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, often identified by the use of forward-looking terminologies such as "believes", "expects" or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov). All forward-looking statements attributable to the Company and its subsidiaries and other consolidated entities or persons acting on their behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
CONTACT: For further information, please contact: Taoping Inc. Iris Yan Tel: +86-755-8370-4767 Email: IR@taoping.cn http://www.taop.com/ or Dragon Gate Investment Partners LLC Tel: +1(646)-801-2803 Email: TAOP@dgipl.com