Taoping to Acquire Skyladder Group in All-Stock Transaction Valued at RMB 152 Million

Core Insights - Taoping Inc. has signed a share purchase agreement to acquire 100% equity in Skyladder Group Limited for approximately RMB 152 million (around US$21.36 million), which is expected to significantly increase its annual revenue and expand its addressable market [1][2] - The acquisition will allow Taoping to leverage AI technology to enhance its smart elevator services and IoT strategy, integrating Skyladder Group's technological advantages with its own resources [1][4] Financial Performance Targets - The purchase price will be paid in ordinary shares, with performance-based targets set for Skyladder Group, including projected revenues of RMB 74.14 million and net profit of RMB 3.80 million in 2026, escalating to revenues of RMB 180.66 million and net profit of RMB 22.14 million by 2029 [2] Industry Positioning - Skyladder Group is a leader in smart elevator services in China, focusing on AI-powered supervision and providing comprehensive services throughout the elevator lifecycle, including sales, installation, and maintenance [3] - The Chinese elevator industry is experiencing growth driven by "quantity renewal and incremental intelligence," which aligns with Taoping's strategic goals in the smart elevator sector [4]