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Taoping Reports 25% YoY Increase in April Contract Revenue

AuthorVlad Schepkov
Published 15/05/2024, 13:38
TAOP
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Taoping Inc. (Nasdaq: TAOP), a developer of innovative smart cloud platform services and solutions, new media and artificial intelligence solutions, today reported a total contract revenue value of RMB 20.8 million (approximately USD $2.9 million) for the month of April 2024, representing an increase of 25% compared to the month of April 2023.

The Company highlighted that its impressive growth was driven by its commitment to innovation, as evident by the increased demand for its wide array of AI-based products, including its Smart City solutions.

Mr. Lin Jianghuai, Chairman and CEO of Taoping, said: "We are greatly encouraged by our ongoing expansion and the enthusiastic reception of our solutions portfolio from customers. Our focus on AI and cloud-based products has strategically aligned us with the solutions that customers find most compelling. These solutions, which are designed to enhance efficiency, improve end-customer interactions, and deliver a higher return on investment, have resonated well with the market."

"We have implemented multiple growth strategies that leverage AI to meet the dynamic needs of our customers. A key example is our recent introduction of Smart Terminals, which we believe will serve as a significant long-term growth driver for the Company. This initiative. is expected to play a pivotal role in enhancing shareholder value."

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