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TAOP - Taoping Inc News Story

$2.73 -0.0  -1.4%

Last Trade - 18/09/20

Sector
Technology
Size
Micro Cap
Market Cap £16.1m
Enterprise Value £27.9m
Revenue £10.6m
Position in Universe 5267th / 6371

TAOP Upgrades Taoping Smart Cloud Platform to Expand its Business

Thu 30th July, 2020 1:00pm
TAOP Upgrades Taoping Smart Cloud Platform to Expand its Business

SHENZHEN, China, July 30, 2020 (GLOBE NEWSWIRE) -- Taoping Inc. (NASDAQ: TAOP), a leading provider of internet-based smart display screens, and a new-media ecosystem that enables targeted advertising and online retail, today announced that it has upgraded its Taoping Smart Cloud Platform and put it on the market.

The upgraded Taoping Smart Cloud Platform has optimized the performance of ad publishing, data monitoring, publication management, transaction system, and API interface docking. On the one hand, it further strengthens users’ operating experience in Internet advertising, online site selection, data monitoring, online transactions, etc. On the other hand, Taoping Smart Cloud Platform provides a shared resource pool that can be flexibly assigned and expanded for all users. The resource pool integrates media resources and advertisers in an all-round and multi-channel manner, and uses the centralized management and control of the platform and intelligent operation and maintenance to effectively configure and use resources to achieve a win-win situation for all parties.

The upgrade of Taoping's intelligent cloud platform will promote the development of the company's "partner" model and the comprehensive expansion of its business. Taoping uses life scenes as an entry point to quickly deploy a nationwide terminal network through the "partner" model. At present, there are smart terminal locations in nearly 200 cities in 25 core provinces (cities) across the country. The smart terminals are located in office buildings, residential areas, commercial districts, outdoor and other life consumption scenes, and massive offline traffic portals have been formed. With Taoping Smart Cloud Platform, the company will accelerate the integration of offline scenes and online Internet interaction channels, open connection to third-party DSP, ADX Internet traffic platforms, and realize online and offline traffic interoperability through Real-Time Bidding (“RTB”) technology. At present, Taoping has cooperated with Baidu, JD.com, Ali UMeng, ZMT Smart Screen and several other heavy-weight DSP and ADX platforms.

“The platform service fees for the operation and maintenance services and transactions concluded on Taoping Smart Cloud Platform are expected to bring considerable and sustainable cash flow to the Company. With the development of the platform, the platform's continuous data accumulation and data mining will also become the Company's strategic intangible assets, and empower the business development of Taoping,” said Mr. Jianghuai Lin, CEO and Chairman of TAOP.

About Taoping Inc.

Taoping Inc. (formerly known as China Information Technology, Inc.) (TAOP), is a leading provider of smart display terminals and solutions for targeted advertising and online retails. The Company provides the integrated end-to-end digital advertising solutions enabling customers to distribute and manage ads on cloud-based ad display screens. Connecting owners of Taoping screens, advertisers and consumers, it builds up a resource sharing "Smart IoT Screen Network- Taoping 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.
Chang Qiu
Email: chang_qiu@taoping.cn

or

Dragon Gate Investment Partners LLC
Tel: +1 (646)-801-2803
Email: taop@dgipl.com

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