New High-Profile Taoping Pilot Projects Aim to Accelerate Growth

HONG KONG, Nov. 29, 2022 /PRNewswire/ -- Taoping Inc. (NASDAQ: TAOP, the "Company" or "Taoping") today announced two exciting new pilot projects for the Company's smart rest station products in high profile areas on the Shenzhen Baywalk and the Dasha River Ecological Corridor (Guangzhou). The new pilot projects reflect a continued commercialization and acceleration of growth.

The popular Baywalk in Bao'an Central District of Shenzhen is a sky garden designed after New York's famous High Line Park that hosted an estimated 14 million visitors in 2021. The Dasha River Ecological Corridor, located in Liwan District, Guangzhou, is the largest free-entrance wetland park with an ecological leisure function and Cantonese cultural characteristics in the central urban area of the city. Both parks are major initiatives designed to boost ecologically friendly city spaces.

Mr. Lin Jianghuai, Chairman and CEO of Taoping, said, "We are proud of these latest showcase projects and our ability to create tailored solutions to fit the unique needs of each destination. These are high profile, high traffic areas, that need to accommodate millions of monthly visitors. We won the pilot project mandates because our sleek new smart rest station products are a seamless fit, with the sleek aesthetics and modern features needed. Our faster installation time and lower cost of ownership were also key selling points."

The Shenzhen Baywalk and the Dasha River Ecological Corridor represent two completely different application scenarios. In one case, Taoping designed a fashionable and trendy LED large-screen facade, which fits into the stylish and modern atmosphere surrounding it. In the other installation, Taoping developed a more natural and fresh facade, with great attention to details and integration of tourist service functions.

Mr. Lin continued, "Based on customer demand, we are evaluating additional commercialization options, as we continue to focus on driving profitable revenue growth from product construction and delivery, as well as from advertising operations of large display screens integrated into the smart rest station products. We plan to add additional value to our products as we leverage our modular design, with plans to integrate even more services. This is in line with our strategy for the N space of the smart rest station, with the launch of additional services according to the needs of each specific target user attributes. At the same time, we continue to leverage the channel advantages of Taoping's city partners and other strategic cooperation parties to promote our innovative smart rest products in more high-value, high-traffic areas."

About Taoping Inc.

Taoping Inc. (Nasdaq: TAOP) has a long history of successfully leveraging technology in the development of innovative solutions to help customers in both the private and public sectors to more effectively communicate and market to their desired targets. The Company has built a far-reaching city partner ecosystem and comprehensive portfolio of high-value, high-traffic areas for its products, which are aligned together with Taoping's smart cloud platform, cloud services and solutions, new media and artificial intelligence. To learn more, please visit 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 results of operations and financial position, 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 terminology including "anticipates," "believes," "can," "continue," "could," "estimates," "expects," "intends," "may," "plans," "potential," "predicts," "should," or "will" or the negative of these terms or other comparable terminology. Our actual results may differ materially or perhaps significantly from those discussed herein, or implied by, these forward-looking statements.  There are a significant number of factors that could cause actual results to differ materially from statements made in this press release, including: our potential inability to achieve or sustain profitability or reasonably predict our future results due to our limited operating history of providing 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's legal system and economic, political and social events in China, the volatility of the securities markets; and other risks including, but not limited to, those that we discussed or referred to in the Company's disclosure documents filed with the U.S. 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 furnished 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, other than as required by applicable law.

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SOURCE Taoping Inc.