Taoping Launches New Model of Smart Rest Station

Integrates Fully Autonomous Street Sweepers for Cost Efficient, Location-based Charging and Powerful Cleaning Solution

HONG KONG, Dec. 14, 2022 /PRNewswire/ -- Taoping Inc. (NASDAQ: TAOP, the "Company" or "Taoping") today announced the launch of a new model of the Company's smart rest station which integrates fully autonomous street sweeper, with advanced route learning capabilities, state-of-the-art collision avoidance technology and a powerful extended battery life. This represents the latest phase in the rollout of the Company's smart rest station product solution. With pilot projects already underway, the Company expects this to be incrementally additive to revenue in 2023.

With the integration of the fully autonomous street sweeper, featuring collision avoidance, human detection, advanced route guidance and extended battery life, the Company's new smart rest station solution will offer a docking, charging and cover option, thereby eliminating the cost prohibitive need to install separate charging sites. For more detailed information and accompanying videos click here (https://en.taop.com/video/stage-adv2.mp4).

Mr. Lin Jianghuai, Chairman and CEO of Taoping, said, "We are really excited to launch the newest model of our smart rest station with fully autonomous, attractively designed, state-of-the-art street sweeper. This represents a significant new revenue stream for us, which is complementary and we believe will help drive sales. Customers and investors will now have a more complete picture of our longer-term strategy for our new smart rest station products and the extensive integration opportunities that exist to leverage our growing installed base to drive profitable revenue growth."

Mr. Lin continued, "We have solved two of the biggest problems plaguing open and high use real estate spaces – availability of attractive, clean rest stations and a cost efficient way to keep open areas free of debris and garbage. These critical problems represent a major cost center and a never ending headache for property owners and operators. Customers don't want to patronize dirty facilities and they will also avoid spending time in areas where liter is visible. This is why the most successful entertainment and vacation properties worldwide prioritize cleanliness – it leads to a better customer experience, higher satisfaction level and increased revenue. We are excited because we can now help customers to leverage our strong network to more quickly secure real estate and deploy our products, which seamlessly integrates both the smart rest station and the autonomous street sweeper into an even more powerful solution."

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.