Taoping Expands in Jiangxi Province with AI-Aided Smart City Strategic Cooperation

SHENZHEN, June 26, 2023 /PRNewswire/ -- Taoping Inc. (NASDAQ: TAOP, the "Company" or "Taoping"), today announced the Company is expanding into the Jiangxi Province and has entered into a new strategic cooperation agreement with Anyuan County to provide customized AI-aided Smart City solutions, which will leverage the Company's powerful new Cloud Nest AI system and intelligent Cloud platform to significantly help local digital transformation and development and ecological civilization construction.

Anyuan County is located in Jiangxi Province, China, with 18 towns under its jurisdiction and a population of about 400,000. The city is renowned for its cultural heritage, valuable tourism resources and ecological protection.

The strategic agreement is part of Anyuan County's Smart City transformation, with a dedicated economic and digital transformation. The parties will work together to implement a variety of Smart City programs and solutions, while also implementing tailored environmental enrichment solutions to protect the source water of the Dongjiang River, which supplies water to Hong Kong, and plays an important role to support the development of Guangdong-Hong Kong-Macao Greater Bay Area.

Under the agreement, the two parties will carry out comprehensive cooperation in the fields of industrial investment, human intelligence, low-carbon environmental protection, Smart City renewal and rural ecological revitalization. The integrated solutions are 5G, AI-aided, Cloud-based and underpinned by Taoping's proprietary operating software. Taoping will provide its innovative Smart Rest Stations, lower cost, portable off-grid wastewater treatment solutions, and other related products and services, while Anyuan County provides market resources, policy support and fully assists the operation and development of the Company's projects in Anyuan County and surrounding counties and cities.

Mr. Lin Jianghuai, Chairman and CEO of Taoping, said: "This is another big win for us with high strategic value. We continue to drive expansion into new geographies as we sell our customized Smart City solutions. We are benefitting from increased interest as municipalities seek to modernize for the benefit of residents and tourists, while driving operating and maintenance costs lower through increased efficiencies that come with our Cloud-based platform. We expect this deal to serve as an example for other municipalities. Smart City investments are also smart for business and an important factor when people decide where they want to work, live and play."

Under the initial phase of the cooperation, Taoping will help implement its new lower cost, portable off-grid wastewater treatment product across five townships. Taoping will gradually roll out the application in the entire county of Anyuan County, and contribute scientific and technological strength to the ecological environment protection at the source of the Dongjiang River. Taoping's AI-aided products and solutions will help to further improve the independent decision-making and processing capabilities of Anyuan County's evolving Smart City ecosystem and infrastructure, while allowing for greater scalability in the implementation and operation of ongoing development, more efficient operation and maintenance, and overall environmental protection capabilities.

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. For more information about Taoping, please visit www.taop.com. You can also follow us via LinkedIn, Twitter or YouTube.

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 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.