Taoping Selected for New US$2.8 Million Agricultural Product Supply Contract; Company Continues to Build Momentum in Important Growth Market

SHENZHEN, China, June 2, 2025 /PRNewswire/ -- Taoping Inc. (Nasdaq: TAOP, the "Company"), a provider of innovative smart cloud platform services and solutions, today announced that it has been selected for a new RMB 20 million (US$2.8 million) sales and purchase agreement. Under the latest agreement with Hunan Xiuxiang Agricultural Technology Co., Ltd. ("Xiuxiang Agricultural"), the two parties will cooperate over a two-year period, during which Taoping will supply designated agricultural products.

Xiuxiang Agricultural, based in Changsha, Hunan Province, specializes in the sale of vegetable products. After studying Taoping's state-of-the-art agricultural base in Mengla County, Yunnan Province, the company selected Taoping to help further modernize its operations and increase supply chain efficiency.

Today's agreement follows the major agreement Taoping announced earlier this year for a project expected to generate an annual output value of RMB 600 million (US$83.3 million) by 2027 in Mengla County, Xishuangbanna Prefecture, Yunnan Province. The scope includes advanced agricultural planting, the efficient application of agricultural technologies, the incubation of high-tech enterprises, and agricultural ecological tourism.

Mr. Jianghuai Lin, Chairman and CEO of the Company, said: "I am very proud of our team for all of its hard work and continued execution. This is an exciting new growth market for us, where we can leverage our expertise to add tremendous value to our partners and, we believe, also unlock significant value for our shareholders. We are already seeing very high interest from potential partners, given the enormous demand for agricultural products, especially vegetables, in China due to its large population."

"Our team has conducted several months of successful trials at our base in Mengla County, with positive improvements in both yield and quality of the products grown. We plan to further double down on our focus and investment in this large, new growth market, given the opportunities in front of us, including the newest contract we are announcing today. Moving forward, we will expand our planting areas, vigorously develop order-based agriculture, increase production capacity, and focus on market expansion. By providing high-quality agricultural products, we aim to meet customer demand and create additional revenue streams for the company."

About Mengla County, Yunnan Province

Mengla County is located in the southeastern part of Yunnan Province, China, bordering Laos to the south. It is part of the Xishuangbanna Dai Autonomous Prefecture and is known for its tropical rainforest, rich biodiversity, and ethnic diversity, with significant Dai, Hani, and Yi populations. The county is home to parts of the Xishuangbanna National Nature Reserve, which protects endangered species like Asian elephants and gibbons. Mengla serves as an important trade hub between China and Laos, with the Mohan border crossing being a key point for cross-border commerce. The region's economy is driven by tourism, agriculture (notably tea and rubber plantations), and trade.

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 http://en.taop.com.  You can also follow us on X.

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SOURCE Taoping Inc.