SHENZHEN, China, Aug. 4, 2025 /PRNewswire/ -- Taoping Inc. (Nasdaq: TAOP, the "Company"), a provider of innovative smart cloud platform services and solutions, today announced that it is targeting annual sales of approximately RMB 200 million (approximately US$27 million) in 2026 from an expanded cooperation in smart agriculture between its subsidiary, Taoping Industrial (Yunnan) Co., Ltd. ("Taoping Yunnan") and Mengla County Agricultural Reclamation Group Co., Ltd. and its subsidiary Mengla County Mengman ...

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].