TIANJIN, China, Sept. 24, 2026 /PRNewswire/ -- Taoping Inc. (Nasdaq: TAOP) ("Taoping" or the "Company"), a provider of cloud-based technologies, Smart City IoT platforms, and related products and services, today announced that its wholly owned subsidiary, Skyladder (Tianjin) Technology Development Co., Ltd. ("Skyladder Technology"), has secured multiple smart elevator projects with a combined order value exceeding US$5.5 million.
The new awards include a follow-on project in the China-Singapore Tianjin Eco-City, reflecting continued customer demand for Taoping's products and services. Elevator modernization also represents a meaningful share of the new business, aligning the Company's growth strategy with China's broader urban-renewal priorities. As urban renewal advances, the elevator market is moving beyond new-unit volume toward modernization, safety, reliability, and intelligent lifecycle management.
At a press conference of the State Council Information Office of the People's Republic of China, addressing the 15th Five-Year Plan, officials stated that 575,000 residential elevators are expected to be upgraded or installed nationwide during the plan period. China's 2026 Government Work Report also called for the development of new intelligent-economy models and broader commercial adoption of artificial intelligence across key industries.
Taoping is positioned at the intersection of these trends. Its proprietary smart elevator management platform supports real-time operational monitoring, fault alerts, predictive maintenance, and maintenance-workflow management, helping customers move from reactive repairs toward preventive service.
Mr. Bin Ma, Co-Chief Executive Officer of Taoping, commented, "These orders provide further evidence that our AI-powered smart elevator growth strategy is gaining important commercial momentum. Urban renewal is expanding the market for elevator modernization with customers demanding improved safety, reliability, and maintenance efficiency over the full equipment lifecycle. We are focused on capturing a greater number of these opportunities by shifting toward a 'Project + Platform Subscription' model designed to generate a greater mix of recurring service revenue. Our priorities are clear: execute these projects, broaden our market reach, increase platform adoption, and translate that progress into durable growth and long-term shareholder value."
About Taoping Inc.
Taoping Inc. (Nasdaq: TAOP) has a long history of successfully leveraging technology in the development of innovative cloud-based technologies on the Smart City IoT platform, and related products and services. 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, and new media. For more information about Taoping, please visit http://en.taop.com.
Safe Harbor Statement
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SOURCE Taoping Inc.
