Taoping Inc. (NASDAQ: TAOP, the "Company"), a provider of internet-based smart display screens, and a new-media ecosystem that enables targeted advertising and online retail, today announced that the Company has signed a strategic cooperation agreement with Guangke Digital Technology Co., Ltd. ("Guangke Digital") for the application of Taoping Smart Cloud Platform to enable cloud operations of Guangke's projection equipment.
Guangke Digital is engaged in the development, production and manufacturing of photonic crystal metamaterial-based projection film and screen products. Such photonic films can be coated on glasses to enable double-sided display and can be coated on walls and projection screens to enable borderless high-resolution display. With projection equipment, the new films can be used in multiple scenarios such as retail showcases, transportation hubs and elevators. Over the years, Taoping has developed Taoping Smart Cloud Platform and the associated Cloud Window App, which provides a shared resource pool that integrates media resources and advertisers in an all-round and multi-channel manner, and provides cloud management, control, order optimization and maintenance to effectively configure and use resources. Taoping Smart Cloud Platform can be flexibly assigned and expanded for all users of the platform.
Under the strategic cooperation agreement, Guangke Digital is granted a license from Taoping to connect its projection equipment and photonic screens to Taoping Smart Cloud Platform, and both parties will collaborate on market development. With integrated management and order optimization of Taoping Smart Cloud Platform, online ads can be displayed programmatically and in real-time. Both parties agreed a license fee and a monthly maintenance and support fee for each Cloud Window App installation.
"Our cooperation with Guangke Digital will provide more display options for our customers and further expand Taoping New Media ecosystem beyond our own network," said Mr. Jianghuai Lin, Chairman and CEO of TAOP. "We expect new revenue streams for the Company as Taoping Smart Cloud Platform is adopted by partners like Guangke Digital."
About Taoping Inc.
Taoping Inc. (TAOP), is a leading provider of smart display terminals for targeted advertising and online retail. The Company provides integrated end-to-end digital advertising solutions enabling customers to distribute and manage advertisements on advertisement display terminals. Connecting cloud-based advertisement 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.
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