Asia Biz News - Asian Business News and Tenders

TAOP Announces $1.6 Million Cloud-based Ad Terminal Contract with Wuhan Taoping

June 10, 2018

Taoping, Inc., a cloud-based ad terminal and service provider of digital advertising distribution network and new media resource sharing platform, has signed contracts for the sales of 5,000 TAOP cloud-based elevator ad terminals to be installed in office buildings and residential communities throughout Wuhan in China.

SHENZHEN, China, (GLOBE NEWSWIRE) -- Signed with Wuhan Taoping Media Limited (“Wuhan Taoping”), the contract is expected to generate sales and service revenue to TAOP of about $1.6 million.

The news is the 31st in a series of announcements since May of 2017 on TAOP’s sales of its cloud-based ad terminals. Each transaction is expected to generate recurring service and commission revenue from customers' use of the Company’s Yunfa advertising distribution system and Taoping Net/ App ad screen sharing platform.

Wuhan Taoping has recently joined the Taoping Alliance, a nationwide advertising resource sharing platform jointly founded by TAOP and Shenzhen Taoping New-Media Limited, as the forty-fifth member. Since its establishment in May 2017, the members of Taoping Alliance have increased to the coverage of over twenty-three provinces and provincial cities throughout China.

“We are glad to have Wuhan Taoping joined the Taoping Alliance,” said Mr. Jianghuai Lin, the Chairman and CEO of TAOP, “Wuhan is known as 'China's Thoroughfare', as a major transportation hub, it has dozens of railways, roads and expressways passing through the city and connecting to other major cities.The expansion of Taoping Alliance’s network into Wuhan indicates that TAOP's penetration in central China is coming to the next level.”

Mr. Lin reiterated that by 2018, the Company expects to sell an additional 120,000 cloud-based ad terminals with market penetration in 100 cities with coverage for 200 million people throughout China.

Copyright: North America Procurement Council, Inc. PBC