Taoping Alliance Receives $17.6 Million Ad Distribution Order from Ju'an Home
SHENZHEN, China, July 26, 2018 (GLOBE NEWSWIRE) -- Taoping Inc. (NASDAQ: TAOP), a leading provider of internet-based ad distribution and ad display terminal sharing systems in China, today announced that Taoping Alliance, a new media operating organization founded by TAOP and Shenzhen Taoping New-Media Limited, have entered into a contract with Ju'an Home, a nation-wide in-home care and service platform. The contract is expected to generate $17.6 million revenues for Taoping Alliance within the next twelve months.
According to the contract, Ju'an Home's real-time ads, including brand promotions, lock hardware products announcements, and in-home care and service announcements, can be distributed on the selected cloud-based ad terminals respectively owned by local members of Taoping Alliance throughout 22 cities in China. As the developer and technology/service provider of the Taoping new-media eco-system and the founder of Taoping Alliance, TAOP is expected to receive approximately 15% of the total revenue generated from the contract.
"We are pleased to partner with Ju'an Home," said Mr. Jianghuai Lin, the Chairman and CEO of TAOP, "By utilizing its nation-wide networks and TAOP's sophisticated new-media distribution and sharing platform , Taoping Alliance provides local communities the convenience service and adds value to the consumers. "
Taoping Alliance is a nationwide advertising resource sharing platform jointly founded by TAOP and Shenzhen Taoping New-Media Limited. Since its establishment in May 2017, the members of Taoping Alliance have increased to fifty-six members with the coverage of over twenty-five provinces and provincial cities throughout China.
About Taoping Inc.
Taoping Inc. (formerly known as China Information Technology, Inc.) (Nasdaq: TAOP), is a leading cloud-based ad terminal and service provider of digital advertising distribution network and new media resource sharing platform in the Out-of-Home advertising market of China. The Company provides the integrated end-to-end digital advertising solutions enabling customers to distribute and manage ads on the ad display terminals. Connecting cloud-based ad terminal owners, advertisers and consumers, it builds up a resource sharing "Smart IoT Terminal - Taoping Net/ App - Taoping 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/.
About Ju'an Home
Ju'an Home is an in-home care and service platform. The Company provides over 300 kinds of convenience services across China, including locks repair, housekeeping, babysitting and maid service, in-home care, legal services, moving services, plumbing, driver's training, fitness, etc. To learn more, please visit http://www.juanzhijia.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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