Taoping Expands Smart Elevator Services Business with New Orders Exceeding US$3 Million

PR Newswire

TIANJIN, China, April 8, 2026 /PRNewswire/ -- Taoping Inc. (Nasdaq: TAOP) (the "Company" or "Taoping"), a provider of innovative smart cloud platform services and solutions, today announced a significant expansion of its core smart elevator business with the new orders exceeding US$3 million. The multi-million dollars in new orders won through its wholly-owned subsidiary Skyladder (Tianjin) Technology Development Co., Ltd. ("Skyladder Technology") reflects a rebound in demand in the broader market for highly-reliable, state-of-the-art elevators and services, and further consolidates the Company's leading position in Tianjin.

The Company is capitalizing on its innovation leadership, deep technical bench, and consistent execution to establish a category-defining position in intelligent elevator infrastructure. Through its proprietary, patent-protected platform, Taoping delivers precision fault detection, real-time predictive diagnostics, and automated rescue capabilities, which materially reduce downtime, lower maintenance costs, and enhance safety outcomes.

By integrating multi-modal operational data with advanced AI algorithms, Taoping is driving measurable efficiency gains across the full elevator lifecycle, while creating a scalable, high-margin technology layer for its customers. This data-driven approach not only improves asset performance but also positions Taoping to capture significant value as the industry transitions toward standardized, AI-enabled infrastructure.

"These multi-million dollar new orders represent a significant strategic and financial inflection point for our business. Our disciplined investment in core capabilities has translated into deeper customer partnerships and a differentiated platform built on proprietary, patent-backed innovation," said Bin Ma, Co-CEO of Taoping. "We are now seeing the benefits of a broad-based recovery in demand, with improving visibility and momentum extending into future periods."

"We are actively partnering with customers to standardize smart-elevator construction and lifecycle management – transforming a longstanding industry pain point into a scalable competitive advantage. By embedding AI into our operating model and expanding beyond Tianjin into other major urban markets over the longer term, we are positioning Taoping at the forefront of intelligent infrastructure transformation. This strategy enables us to deliver more efficient, reliable, full-lifecycle solutions while driving higher shareholder value."

In light of accelerating demand across both new smart elevator deployments and recurring maintenance contracts, the Company has elected to terminate the previously announced on October 17, 2025, non-binding letter of intent to acquire Alphalion Holding (the "LOI"), reflecting a disciplined capital allocation strategy and a clear prioritization of higher-return opportunities within its core business. Pursuant to the LOI, the Company may terminate it prior to entering into any definitive agreement for the transaction during the process of conducting due diligence.

About Taoping Inc. 
Taoping Inc. (Nasdaq: TAOP) has a long history of successfully leveraging technology in the development of innovative solutions to help customers in both the private and public sectors to more effectively communicate and market to their desired targets. The Company has built a far-reaching city partner ecosystem and comprehensive portfolio of high-value, high-traffic areas for its products, which are aligned together with Taoping's smart cloud platform, cloud services and solutions, new media and artificial intelligence. For more information about Taoping, please visit http://en.taop.com.

Safe Harbor Statement 
This press release contains "forward-looking statements" that involve substantial risks and uncertainties. All statements other than statements of historical facts contained in this press release, such as statements regarding our estimated future results of operations and financial position, our strategy and plans, and our objectives or goals, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. We have attempted to identify forward-looking statements by terminology including "anticipates," "believes," "can," "continue," "could," "estimates," "expects," "intends," "may," "plans," "potential," "predicts," "should," or "will" or the negative of these terms or other comparable terminology. Our actual results may differ materially or perhaps significantly from those discussed herein, or implied by these forward-looking statements. There are a significant number of factors that could cause actual results to differ materially from statements made in this press release, including: our potential inability to achieve or sustain profitability or reasonably predict our future results, the effects of the global pandemic or other health crisis, the emergence of additional competing technologies, changes in domestic and foreign laws, regulations and taxes, uncertainties related to China's legal system and economic, political and social events in China, the volatility of the securities markets; and other risks including, but not limited to, those that we discussed or referred to in the Company's disclosure documents filed with the U.S. Securities and Exchange Commission (the "SEC") available on the SEC's website at www.sec.gov, including the Company's most recent Annual Report on Form 20-F as well as in our other reports filed or furnished from time to time with the SEC. The forward-looking statements included in this press release are made as of the date of this press release and the Company undertakes no obligation to publicly update or revise any forward-looking statements, other than as required by applicable law.

SOURCE Taoping Inc.