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TAOP Launches New Subsidiary Taoping Digital Assets (Hong Kong) Limited

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SHENZHEN, May 19, 2021 (GLOBE NEWSWIRE) -- 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 the establishment of its majority-owned subsidiary, Taoping Digital Assets (Hong Kong) Limited (“Taoping Digital Assets”). Taoping Digital Assets is a Hong Kong limited liability company and its main business is expected to be managing Taoping G Cloud Hong Kong Data Center and providing support to the Company’s five business divisions from Hong Kong. Mr. Chi To Ip was appointed as president of Taoping Digital Assets.

Mr. Ip has more than 20 years of experience in IT technology and digital asset management and investment. He is an expert in business investment, IT data center project management and digital asset business analysis, with outstanding project planning and execution skills for profitability growth. Mr. Ip managed the HK$1 billion data center construction and digital asset project at China Rs Group Limited.

The launch of Taoping Digital Assets is expected to further enhance the Company’s international competitiveness and overseas supply chain, and advance TAOP’s global development plan.

“The launch of Taoping Digital Assets and the appointment of Mr. Ip marks another step of TAOP’s global expansion strategy,” said Mr. Jianghuai Lin, Chairman and CEO of TAOP. “We believe Mr. Ip's extensive experience in IT and digital assets project management will help the implementation of TAOP’s growth plan.”

About Taoping Inc.

Taoping Inc. (TAOP), is a leading provider of smart display terminals and solutions for targeted advertising and online retails. The Company provides the integrated end-to-end digital advertising solutions enabling customers to distribute and manage ads on cloud-based ad display screens. Connecting owners of Taoping screens, advertisers and consumers, it builds up a resource sharing "Smart IoT Screen Network- Taoping 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. Such forward-looking statements may relate to, among other things, statements regarding our expected growth and financial performance, our strategy to drive growth, expectations regarding our new businesses, anticipated benefits of the Company’s acquisitions, and our guidance for the full year ending December 31, 2021. 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.

For further information, please contact:

Taoping Inc.
Chang Qiu
Email: chang_qiu@taoping.cn

Dragon Gate Investment Partners LLC
Tel: +1(646)-801-2803
Email: taop@dgipl.com