TAOP Announces Strategic Partnership with Yifeng Pharmacy Chain Co. Ltd
SHENZHEN, China, Sept. 25, 2019 (GLOBE NEWSWIRE) -- Taoping Inc. (NASDAQ: TAOP), a leading provider of internet-based smart display screens, and a new-media ecosystem that enable targeted advertising and online retail, today announced that the Company is launching a strategic partnership with Yifeng Pharmacy Chain Co., Ltd. (“Yifeng”)(SHA: 603939), a chain of pharmacy with over 4,000 retail stores in China.
As strategic partners, TAOP will place its smart display screens in Yifeng chain stores across the country, and Yifeng will have the options to become owners of Taoping screens and to attract and place advertisements of its suppliers in Taoping Network. TAOP will use its technology platform and technical expertise to provide owners of Taoping screens and advertisement agents with revenue sharing.
“This partnership marks the beginning of Taoping Network to cover retail pharmacy stores, in line with our strategy to cover all areas of high people traffic around people’s daily life. With various offline and online interactive marketing strategies and big data technologies, our new media ecosystem will help retail pharmacy business like Yifeng to enhance brands and deals awareness, increase store traffic, and drive business growth.” said Mr. Jianghuai Lin, Chairman and CEO of TAOP. “We believe that the strategic collaboration between TAOP and Yifeng will give both parties the unique opportunity to establish differentiated brands and increase revenues and market share meaningfully.”
About Yifeng Pharmacy Chain Co Ltd
Yifeng Pharmacy Chain Co., Ltd., a listed company in Shanghai Stock Exchange, is a China-based company principally engaged in the chain retailing of pharmaceuticals, health products, medical equipment and health-related household convenience products. The Company mainly operates through retailing segment. The Company operates 4,127 pharmaceutical chain stores mainly in nine provinces (or municipalities), including Hunan, Hubei, Shanghai, Jiangsu, Beijing, Zhejiang, Guangdong, Hebei and Jiangxi. The retail products of the Company includes pharmaceuticals, medical equipment, health products, health food, personal care products and maternal and child products. The Company is also engaged in the wholesale business through its subsidiary, Hunan Yifeng Pharmaceutical Co., Ltd.
About Taoping Inc.
Taoping Inc. (formerly known as China Information Technology, Inc.) (TAOP), is a leading provider of smart display terminals 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 .
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 (). 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.
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Taoping Inc.
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