SHENZHEN, China, Feb. 10,
2025 /PRNewswire/ -- Taoping Inc. (Nasdaq: TAOP,
the "Company"), a provider of innovative smart cloud platform
services and solutions, today revealed that it has entered into a
non-binding strategic cooperation framework agreement with the
Government of Mengla County, Yunnan
Province. The agreement outlines plans for extensive
collaboration in the modern agricultural industry, with the
objective of boosting regional economic growth.
According to the agreement, the project aims to invest in
developing an agricultural planting base in Mengla County,
Xishuangbanna Prefecture, Yunnan
Province. Over the next three years, the partners plan to
expand the base to 3,500 acres, with a total investment of
RMB 200 million (US$27.5 million). By 2027, the project is
expected to generate an annual output value of RMB 600 million (US$82.5
million).
The cooperation aims to combine the strengths of each party to
establish a model for the growth of the modern agricultural sector.
To meet its ambitious goals, the project will incorporate advanced
technologies from the Company, such as the Internet of Things, big
data, and artificial intelligence, to enhance production and
operational efficiency. The Company was chosen for this significant
partnership due to its strong brand and reliable platform
capabilities, which can boost the Mengla County region's
competitiveness and brand value. The Government of Mengla County
will offer substantial support in areas like land transfers,
advanced technology, and resource allocation. They will also assist
businesses in fostering partnerships with neighboring countries and
help them scale operations through land transfer and efficient
management.
Mr. Jianghuai Lin, Chairman and CEO of the Company, said:
"Mengla County boasts exceptional natural resources and an
advantageous location, making it ideal for the development,
implementation, and long-term operation of a modern agricultural
system. We are excited to combine resources from all involved
parties to create a comprehensive modern agricultural industrial
system. This will include advanced agricultural planting, the
efficient application of agricultural technologies, the incubation
of high-tech enterprises, and agricultural ecological
tourism."
"This agreement is one of the largest in the Company's history,
highlighting the strength of our technology, the value of our
experience, and the long-term potential of the opportunities ahead.
We are committed to making this project a model for the modern
agricultural industry and are eager to contribute to the successful
promotion of agricultural modernization and rural revitalization in
Mengla County."
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.
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, the effects
of the global Covid-19 pandemic or other health crisis, 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 the Company
undertakes no obligation to publicly update or revise any
forward-looking statements, other than as required by applicable
law.
View original
content:https://www.prnewswire.com/news-releases/taoping-announces-major-cooperation-with-the-mengla-county-of-yunan-province-expected-project-value-of-us82-5-million-by-2027--302372015.html
SOURCE Taoping Inc.
