Taoping Launches Innovative Dual-Sided, Thin Film, Display; Targeting More than 200 High Value, Mall Installations in 2023

HONG KONG, Oct. 24, 2022 /PRNewswire/ -- Taoping Inc. (Nasdaq: TAOP, the "Company" or "TAOP"), today announced a new, state-of-the-art dual-sided, thin film, photonic-crystal display. The cutting-edge displays have already been successively deployed in numerous major shopping malls in China. Integreated with Taoping's smart cloud distribution system, the innovative display is the latest transformative product offered to help customers more effectively market products and services to highly valued customers.

Mr. Lin Jianghuai, Chairman and CEO of Taoping commented, "Our continued investments in R&D, and the Taoping smart cloud and alliance networks give us a meaningful advantage. We are excited to be launching one of the most advanced thin panel multimedia displays available. Customers are responding very positively to our latest innovative display based on its sleek, attractive look and enhanced multimedia features and double-sided display."

Taoping is leveraging the support of the Taoping smart cloud and alliance networks to help customers penetrate high traffic flow, high value, high touch areas, including escalators, aisles and shopping centers. The lightweight, easy to install displays boast a flexible surface, high resolution, double-sided imaging and powerful other features. By connecting the photonic-crystal, dual-sided displays to Taoping's smart cloud, customers can leverage the cloud platform's intelligent broadcast systems to achieve targeted, intelligent digital marketing.

Taoping is targeting to have its new photonic-crystal, dual-sided displays installed in more than 200 shopping centers across China in 2023, as part of the initial phase of the Company's rollout. Displays have already successfully been installed in malls in Shenzhen Nanshan HuanLeSong Shopping Center, Shenzhen Futian Wongtee Plaza,  among others. At Shenzhen Futian Wongtee Plaza, one of the Company's many successful installations, the popular shopping center covers approximately 138,000 square meters. It is located in the core of Shenzhen's main business district Futian CBD, with approximately more than 30 million visitors annually. Taoping has already customized and installed 10 of its innovative photonic-crystal, dual-sided displays ranging from 50 to 100 inches, giving Taoping's customers immediate access to high value, high traffic areas ranging from escalator entrances to corridors.

Mr. Jianghuai continued, "Thin is in and we specifically developed this enhanced, new display to give our customers a more powerful tool to break through the clutter and distractions bombarding people all day long. Helping our customers to effectively get their product and service messages to consumers is invaluable, especially as people are once again on the move and out of the house for work and leisure. For Taoping, this is another important launch for us as we continue the transformation and expansion of the Company's new media business."

According to FORWARD, an industrial research institute, nearly 600 shopping centers have opened annually in China over the past five years, with a near return to pre-COVID levels in 2021. 47.68 million new square meters have been opened, an increase of 35% year-over-year. With the economy's continuous development and the coming wave of the new consumerism era, shopping centers in China are spreading from 1^st and 2^nd tier cities into 4^th and 5^th tier cities. Shopping centers serve as a destination give their central location and full range of shopping, dining and entertainment options. This ability to bring large numbers of high-quality consumers together with sought after economic profiles and demographics makes onsite display advertising highly attractive and sought after.

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/.

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.

SOURCE Taoping Inc.