Taoping Secures $600K Order for AI-Powered Smart Terminals

Taoping receives new order for its AI-powered Smart Terminals

Taoping (NASDAQ:TAOP) on Thursday announced a further expansion of its AI business with a new order for its AI-powered Smart Terminals. The latest order is from Lu'an Wanjiang Advertising Media which will initially purchase the Smart Terminal valued up to about $600K. Press release. More on Taoping Taoping wins AI-powered smart terminal contract for over $1M Financial information for Taoping

Taoping secures $600k order for AI Smart Terminals By Investing.com

SHENZHEN, China - Taoping Inc. (NASDAQ:TAOP), a provider of smart cloud platform services and artificial intelligence solutions, announced today that it has received a substantial order for its AI-powered Smart Terminals from Lu'an Wanjiang Advertising Media Co., Ltd. ("Lu'an Media"). The deal, valued at approximately $600,000, will see the deployment of these terminals across various locations in Lu'an City, including supermarkets, office buildings, and residential communities. Lu'an Media's initial purchase is part of a broader strategy to integrate advanced AI capabilities into advertising and marketing scenarios, utilizing Taoping's Cloud Nest AI system. This partnership is expected to extend further, leveraging Taoping's national city-partner network to promote the adoption of these smart terminals in Anhui Province and beyond. ChinaIRN.com forecasts that China's advertising terminal market will surpass 10 billion RMB by 2026, with growth fueled by technological advancements in advertising terminals and the rapid development of smart cities. Innovations such as touch technologies, voice and face recognition, and dynamic capture are increasingly prevalent in the retail sector. Taoping's Chairman and CEO, Mr. Lin Jianghuai, expressed optimism about the company's positioning to capitalize on the growing demand for AI-driven products and solutions in advertising and other markets. He indicated that Taoping aims to aggressively pursue new opportunities that could positively influence revenue growth and enhance shareholder value. Taoping Inc. has established a comprehensive portfolio and ecosystem for delivering its high-value products and services. The company emphasizes its ability to help clients effectively reach their target audiences through its combination of smart cloud platforms, cloud services, and AI technologies. The information in this article is based on a press release statement from Taoping Inc. It is important to note that forward-looking statements involve risks and uncertainties, and actual results may differ materially from those projected. Taoping Inc. has cautioned that a variety of factors could impact their business, including market volatility and regulatory changes. In other recent news, Taoping Inc., previously known as China Information Technology, Inc., has reported significant strides in its financial performance and product development. The company saw a 53% year-over-year increase in contract revenue for the first quarter of 2024, reaching approximately $8.3 million. The growth was primarily driven by increased demand for Taoping's Smart City and AI-related products. Furthermore, the company reported a 25% increase in its contract revenue for April 2024, attributing this growth to the rising demand for its AI-based products, particularly its Smart City solutions. In terms of product development, Taoping recently launched its upgraded AI-powered smart terminal, designed to enhance user experiences and optimize advertising efficacy. This development is part of Taoping's broader cloud strategy and is expected to contribute to the company's long-term success and shareholder value. Still, the company faces challenges with Nasdaq's minimum bid price rule and is exploring options to regain compliance within the granted 180-day period. These are the recent developments in Taoping Inc.'s business operations. The company's commitment to technological innovation is reflected in its corporate name change from China Information Technology, Inc., as stated in a recent 6-K filing with the Securities and Exchange Commission. As Taoping Inc. (NASDAQ:TAOP) secures a lucrative order for its AI-powered Smart Terminals, the financial health and market performance of the company come into focus. InvestingPro data paints a detailed picture of TAOP's financial landscape. With a market capitalization of merely $3.12 million, the company operates on a relatively small scale in the tech sector. Despite a significant revenue growth of 59.43% in the last twelve months as of Q4 2023, Taoping Inc. carries a negative P/E ratio (adjusted) of -13.7, indicating that it is not currently profitable. The price/book ratio, which stands at 0.24, suggests that the stock might be undervalued relative to its assets, which could attract investors looking for potential bargains. However, the company's stock has been experiencing a downward trajectory, trading near its 52-week low and reporting a one-year price total return of -86.58%, reflecting substantial market skepticism. InvestingPro Tips highlight that Taoping Inc. is trading at a low revenue valuation multiple and is quickly burning through cash, which indicates a need for cautious assessment of the company's long-term financial stability. The stock's high price volatility could present risks for investors. For those considering an investment in TAOP, it is worth noting that the company does not pay dividends, which could be a deterrent for income-focused investors. To gain deeper insights and access additional InvestingPro Tips for Taoping Inc., potential investors may visit InvestingPro. There are 14 additional InvestingPro Tips available, which could provide valuable guidance in making informed investment decisions. Those interested in a subscription can use the coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription.