Business
Taoping Signs 3 Year Strategic Cooperation Agreement with DoWatch Technology; Companies to Jointly Work to Expand Adoption of Taoping's Smart Rest Stations at National Tourist Attractions and Other Areas
HONG KONG, Nov. 9, 2022 /PRNewswire/ -- Taoping Inc. (NASDAQ: TAOP, the "Company" or "Taoping") today announced that the company has signed a three-year
About this update from Taoping Inc.
[{"type":"text","content":"HONG KONG, Nov. 9, 2022 /PRNewswire/ -- Taoping Inc. (NASDAQ: TAOP, the \"Company\" or \"Taoping\") today announced that the company has signed a three-year strategic cooperation agreement with Shenzhen Qianhai DoWatch Technology Co., LTD. (\"DoWatch Technology\"), to jointly expand Taoping's smart rest stations to national tourist attractions and other areas.\n\nDuring the term of the agreement, DoWatch Technology will leverage its own channel advantages to promote the installation and operation of Taoping's new smart rest stations at popular national tourist attractions, theme parks and other high traffic areas, with an estimated contract value of approximately USD $4.0 million. The parties plan to enter into separate purchase agreements prior to the installation of these stations. \nTaoping's recently launched smart rest station product combines technology, portability, flexibility and cleanliness to boost smart city development. Taoping's new product integrates its three core businesses: intelligent cloud service, advertising media operation and smart business display systems, to create an all-new smart rest station product with modular and mobile space features.\nMr. Lin Jianghuai, Chairman and CEO of Taoping, said, \"We are excited to be working with DoWatch Technology in this strategic cooperation, given its impressive penetration of the national tourism market, with an established presence at more than 800 tourist areas across the country. We believe the cooperation between Taoping and DoWatch Technology will help to accelerate adoption of Taoping's smart rest station at major tourist attractions and related areas across the country. In addition, the two sides will cooperate in advertising media resources to further expand and improve the company's new digital business format built around offline experiences.\"\nTaoping's new smart rest station combines prefabricated public toilets with multiple functional rooms suitable for clean, routine usage of individuals and families with different needs and scenarios. With its unique and novel appearance, as well as its flexible and rich function area layouts, the smart rest station is quickly winning the favor of Taoping's partners and the market. Adopting the Company's state-of-the-art smart rest station product, with its highly sanitary, energy efficient and humanized design, c...