Taoping Enters into Strategic Cooperation with Jiangsu SuLiXin

HONG KONG, Oct. 18, 2022 /PRNewswire/ -- Taoping Inc. (Nasdaq: TAOP, the "Company" or "TAOP") today announced that its wholly owned subsidiary, Taoping Digital Tech. (Jiangsu) Co., Ltd. entered into a three-year strategic cooperation agreement with Jiangsu SuLiXin Cultural Creative Group Co., Ltd.  ("SuLiXin"). Under the agreement, SuLiXin will purchase display terminals and services from Taoping, with the two companies also agreeing to jointly develop larger scale digital multimedia exhibition hall projects across China.  Specifically, SuLiXin plans to purchase at least RMB 30 million (US$4.2 million) of equipment from Taoping during the term of the agreement.

According to the agreement, Taoping will be recognized as a strategic partner to SuLiXin and the main supplier of DLP, LCD, LED and other large display screens required for its larger scale, digital multimedia exhibition hall projects. Taoping has agreed to leverage the channel advantages of its proprietary city partners network to actively help promote the development of SuLiXin's various other cultural exhibition hall project businesses in the national market, especially in East China. 

Mr. Lin Jianghuai, Chairman and CEO of Taoping, said: "Taoping and SuliXin know each other well, having successfully worked together previously on other projects in Jiangsu Province. We are excited to be formally expanding our relationship and view this agreement as an important milestone for both companies, where we can build on our respective advantages to our mutual benefit. As the earliest enterprise involved in large-screen display manufacturing and system integration in China, Taoping's proprietary internally developed large-screen displays have been welcomed by customers for a long time for their best in class performance and customization. With more than 1,000 successful installations, Taoping has an excellent track record in a wide range of customer environments, ranging from supermarkets, office buildings and media boards, to hospitals, electronics, airports and more."

Mr. Lin Jianghuai continued: "Relying on our national channel of city partners and the leading intelligent cloud platform as a solid platform to build on, we believe that the Company's smart displays can be installed more quickly in digital multimedia exhibition hall projects giving us an important advantage as we look to empower customers by promoting digital commercial display technology efficiently and helping multimedia exhibition halls move more quickly to digitalization, while continuing to grow our profitable revenue streams."

About SuLiXin:

As a "famous trademark of Jiangsu Province" enterprise, SuLiXin has the integrated license of national exhibition hall design and construction, national exhibition hall engineering enterprise license, Jiangsu building decoration engineering professional contracting license and other qualifications. SuLiXin has focused on the design and construction of cultural and creative and scientific exhibition halls, with rich experience in creative design and construction in cultural museums, memorial halls, theme halls, enterprise halls, cultural theme parks, and more.

About Taoping Inc.

Taoping Inc. (NASDAQ: TAOP) is a blockchain technology and smart cloud services provider. The Company is dedicated to the research and application of blockchain technology and digital assets, and continues to improve computing power and create value for the encrypted digital currency industry. Relying on its self-developed smart cloud platform, TAOP also provides solutions and cloud services to industries such as smart community, new media and artificial intelligence. To learn more, please visit http://www.taop.com/.

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SOURCE Taoping Inc.