Accessibility StatementSkip Navigation Transformational Acquisition Expected to Substantially Increase Taoping's Annual Revenue, Expand its Addressable Market, and Leverage its Current Portfolio SHENZHEN, China, Sept. 30, 2025 /PRNewswire/ -- Taoping Inc. (Nasdaq: TAOP, the "Company"), a provider of innovative smart cloud platform services and solutions, today announced the signing of a share purchase agreement to acquire 100% equity in Skyladder Group Limited ("Skyladder Group") valued at approximately RMB ...

Core Viewpoint - Taoping Inc. aims to achieve annual sales of approximately RMB 200 million (around US$27 million) in 2026 through expanded cooperation in smart agriculture with Mengla County Agricultural Reclamation Group and its subsidiary [1] Group 1: Business Expansion - The partnership plans to increase the total planting area from nearly 75 acres to 500 acres, creating several thousand flexible jobs [2] - The company previously announced a target to expand the planting base in Mengla County to 3,500 acres by 2027, with projected annual output valued at RMB 600 million (US$82.5 million) [3] Group 2: Technological Integration - Taoping Yunnan and Mengla are utilizing advanced technologies such as drones, artificial intelligence (AI), big data, and the Internet of Things to improve production and operational efficiency [2] Group 3: Strategic Partnership - The strategic partnership with Mengla has already shown strong results, with successful trial vegetable crops leading to additional land lease agreements and an expanded demonstration planting base [4]

Company Overview - Taoping Inc. is a provider of innovative smart cloud platform services and solutions, focusing on technology to enhance communication and marketing for both private and public sectors [4]. Reverse Stock Split Announcement - The board of directors approved a one-for-thirty reverse stock split of the Company's issued and outstanding ordinary shares, effective May 29, 2025 [1]. - Each thirty ordinary shares will automatically combine into one issued and outstanding ordinary share without requiring action from shareholders [2]. Purpose of the Reverse Stock Split - The reverse stock split aims to increase the per share trading price to meet the $1.00 minimum bid price requirement for continued listing on the Nasdaq Stock Market [3]. - Post-split, the Company will have approximately 0.89 million ordinary shares issued and outstanding, excluding shares from options and convertible notes [3].

Core Viewpoint - Taoping Inc. reported a slight decrease in revenue for 2024, focusing on AI-driven product development and enhanced existing solutions, while anticipating improved growth in 2025 due to increased demand for cloud-based technologies and strategic investments in innovation [2][3]. Financial Performance - Total revenue for the year ended December 31, 2024, was $36.7 million, down from $38.6 million in 2023, attributed to a decline in traditional advertising and software revenue despite increased demand for AI-integrated products [3]. - Cost of revenue decreased by $0.9 million to $28.9 million in 2024, with the cost of revenue as a percentage of total revenue increasing to 78.8% from 77.1% in 2023 [4]. - Gross profit margin decreased to 21.2% in 2024 from 22.9% in 2023, primarily due to lower margins in the advertising business [5]. - The net loss attributable to the company was $1.8 million for 2024, compared to a net loss of $0.7 million in 2023 [6]. Strategic Focus - The company is positioned to benefit from China's accelerated urbanization, which is expected to drive demand for its Smart City IoT platforms [2]. - Taoping aims to expand its gross margin by increasing the contribution of higher-margin sales, particularly from AI-related products [5].