SHENZHEN, China, March 11, 2019 (GLOBE NEWSWIRE) -- Taoping Inc. (NASDAQ: TAOP), a leading provider of internet-based advertisement distribution and display terminal sharing systems and online retail platform, today announced that it has entered into a contract for 11,219 terminal sales. Signed with Fujian Taoping IoT Technology Limited (“Fujian Taoping”), the contract is expected to generate sales and service revenue to TAOP of about $3.3 million. The contract will also help Fujian Taoping achieve Taoping terminal’s full coverage in Fujian province.
Since its inception in 2017, Fujian Taoping has established market presences in 15 cities in Fujian province and gradually penetrated into the district- level market in the past two years. It is expected that, by the end of 2019, Fujian Taoping will achieving the goal of a full coverage of Taoping terminals in the province.
The accomplishment of Fujian Taoping reflects the rapid development of Taoping Alliance, a nationwide advertising resource 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 111, with the coverage of over twenty-six provinces out of thirty-four provincial-level administrative units in China and three members overseas (Toronto, Asia, and Singapore).
While penetrating into the district-level market, Taoping will adopt S2B2C (Service to Business to Customer) mode and create a two-way traffic portal with “offline terminal + online Taoping Go (E-store) platform”. Different from traditional out of home advertising media, Taoping can not only showcase your brand with vibrant static messages or impactful videos but also increase conversion rate through the online store promotion and retail function of Taoping Go (E-store) platform. Also, with customer behavior analytics on the platform, merchants are able to develop better strategies and achieve brand precision marketing.
“We are glad to see Taoping’s growing business in Fujian province. Our S2B2C (Service to Business to Customer) model enables thousands of suppliers along with small businesses to directly serve customers on our platform,” said Mr. Jianghuai Lin, the Chairman and CEO of TAOP. “With the accelerated market penetration, we are expecting to achieve our ‘300-city’ goal one year earlier. Now we expect that by the end of 2019, the number of cities that Taoping Alliance covers will reach 300 nationwide, which is expected to significantly drive our revenue growth in coming years.”
About Taoping Inc.
Taoping Inc. (formerly known as China Information Technology, Inc.) (NASDAQ: TAOP), is a leading provider of internet-based advertisement distribution and display terminal sharing systems and online retail platform. 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 Go (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.
For further information, please contact:
Taoping Inc.
Iris Yan
Tel: +86-755-8370-4767
Email: IR@taoping.cn
or
Dragon Gate Investment Partners LLC
Tel: +1(646)-801-2803
Email: taop@dgipl.com