SHENZHEN, China - Taoping Inc. (NASDAQ:TAOP), a provider of smart cloud services and AI solutions, announced a 78% increase in year-over-year contract revenue for January 2024, reaching RMB 25.8 million, or approximately USD $3.6 million. This growth is attributed to the demand for the company's AI products and a new off-grid wastewater treatment solution.
The company's chairman and CEO, Mr. Lin Jianghuai, expressed optimism for continued growth throughout the year, fueled by the company's city partner ecosystem and a comprehensive portfolio of AI products and Smart City solutions. The record revenue for January, typically a slower month due to the Chinese New Year, underscores the rising interest in Taoping's offerings, such as the Cloud Nest AI system, intelligent cloud platform, and Smart City technologies.
Taoping Inc. has a history of developing technology-driven solutions for effective communication and marketing in both private and public sectors. With a broad city partner ecosystem and a portfolio of high-value products, Taoping integrates its smart cloud platform, cloud services, new media, and AI into its offerings.
The press release includes forward-looking statements subject to risks and uncertainties, such as the company's ability to sustain profitability and the impact of external factors like the global Covid-19 pandemic, competition, and regulatory changes. Taoping's future results may differ materially from these projections.
The information in this article is based on a press release statement from Taoping Inc.
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