SHENZHEN, April 21, 2021 (GLOBE NEWSWIRE) — Taoping Inc. (NASDAQ: TAOP, the “Company”), a provider of Internet-based smart display screens, and a new-media ecosystem that enables targeted advertising and online retail, today announced that it established a wholly-owned Hong Kong subsidiary, Taoping Capital Limited (“Taoping Capital”), to provide capital support for the growth of TAOP’s blockchain and digital asset business and the Company’s cloud desktop, cloud rendering and cloud gaming business.
Mr. Jianghuai Lin, the Chairman and CEO of TAOP, will concurrently serve as Chairman of Taoping Capital. Mr. Qian Wang, Chief Investment Officer of TAOP, will serve as CEO of Taoping Capital. Mr. Huaqiao Zhang, a top-ranking analyst by Institutional Investor (institutionalinvestor.com) for multiple years, has joined Taoping Capital as the Chief Advisor and Chairman of the Research Institute of Taoping Capital.
Most of the funds provided by Taoping Capital will be invested in TAOP projects for the purchase of bitcoin mining machines and general-purpose servers suitable for Ethereum and cloud desktops. At the same time, Taoping Capital will support the Company with operation management consulting. Taoping Capital will also actively seek investment opportunities in the blockchain industry.
Huaqiao Zhang has been the Chairman of The Slow Bull Capital Group since June 2017. Mr. Zhang has more than 20 years of working experience in the investment banking industry since 1994. He served as head or co-head of China research team of UBS AG Hong Kong Branch from June 1999 to April 2006 and deputy head of its China investment banking division from September 2008 to June 2011. Mr. Zhang worked as a principal staff member with the People’s Bank of China in Beijing between July 1986 and January 1989. Mr. Zhang graduated from the Graduate School of the People’s Bank of China with a master’s degree in economics in 1986, and the Australian National University with a master’s degree in economics in January 1991.
“The rapid development and sustained growth of TAOP relies on excellent talents. We welcome Mr. Zhang as a visionary leader for Taoping Capital,” said Mr. Jianghuai Lin, the Chairman and CEO of TAOP.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.
About Taoping Inc.
Taoping Inc. (TAOP), is a leading provider of smart display terminals and solutions for targeted advertising and online retails. The Company provides the integrated end-to-end digital advertising solutions enabling customers to distribute and manage ads on cloud-based ad display screens. Connecting owners of Taoping screens, advertisers and consumers, it builds up a resource sharing “Smart IoT Screen Network- Taoping App – Taoping Go (e-Store)” media ecosystem to ultimately achieve the mission “our technology makes advertising and branding affordable and effective for everyone.” To learn more, please visit http://www.taop.com/.
Safe Harbor Statement
This press release may contain certain “forward-looking statements” relating to the business of Taoping Inc., and its subsidiaries and other consolidated entities. All statements, other than statements of historical fact included herein, are “forward-looking statements” in nature within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, often identified by the use of forward-looking terminologies such as “believes”, “expects” or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov). All forward-looking statements attributable to the Company and its subsidiaries and other consolidated entities or persons acting on their behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
For further information, please contact:
Dragon Gate Investment Partners LLC