TIANJIN, China, Aug. 10, 2026 /PRNewswire/ -- Taoping Inc. (NASDAQ:TAOP) (&#34;Taoping&#34; or the &#34;Company&#34;), a provider of innovative cloud-based technologies, Smart City IoT platforms, and related products

<p xmlns="http://www.w3.org/1999/xhtml"><span xmlns="http://www.w3.org/1999/xhtml" class="legendSpanClass">TIANJIN, China</span>, <span xmlns="http://www.w3.org/1999/xhtml" class="legendSpanClass">Aug. 10, 2026</span> /PRNewswire/ -- Taoping Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/TAOP">TAOP</a>) (&#34;Taoping&#34; or the &#34;Company&#34;), a provider of innovative 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. (&#34;Skyladder Technology&#34;), has launched an elevator maintenance insurance pilot program with the Tianjin Branch of the People&#39;s Insurance Company of China Property and Casualty Company Limited (&#34;PICC P&amp;C&#34;).</p>
<p xmlns="http://www.w3.org/1999/xhtml">The new <b xmlns="http://www.w3.org/1999/xhtml"><i xmlns="http://www.w3.org/1999/xhtml">Insurance + Technology</i></b> model integrates real-time monitoring, maintenance and risk protection, while targeting a 20% reduction in long-term elevator operating and maintenance costs. The program is designed to bring together the community, insurer, property manager and maintenance provider in a unified service model designed to improve elevator safety, strengthen oversight and lower lifecycle operating costs.</p><p xmlns="http://www.w3.org/1999/xhtml">This compares to traditional elevator service models, which typically separate maintenance, parts replacement and insurance coverage among multiple providers. Taoping&#39;s new model integrates these services into a single coordinated offering, providing customers with one point of access for routine maintenance, equipment repairs, parts replacement and protection against passenger-related personal injury and property risks.</p><p xmlns="http://www.w3.org/1999/xhtml">The collaboration combines Taoping&#39;s smart elevator technology and standardized service platform with PICC P&amp;C&#39;s established customer relationships and local operating infrastructure. At the center of the new program is Skyladder Technology&#39;s proprietary Elevator Insurance platform. The system monitors elevator operating conditions around the clock, uses sensor data to flag potential issues for timely review and records each stage of the maintenance process. This creates greater transparency and accountability while helping prevent inadequate, unnecessary or improperly documented maintenance.</p><p xmlns="http://www.w3.org/1999/xhtml">Mr. Bin Ma, Co-Chief Executive Officer of Taoping, commented, &#34;By integrating real-time monitoring, standardized maintenance and insurance protection into a single offering, we can improve elevator safety, reduce lifecycle costs and simplify service for customers. This pilot validates the commercial potential of our proprietary technology and establishes a scalable platform for recurring growth. Together with PICC P&amp;C, we are well positioned to expand across Tianjin&#39;s large installed elevator base and, over time, pursue broader market opportunities that can create lasting shareholder value.&#34;</p><p xmlns="http://www.w3.org/1999/xhtml">According to the Tianjin Municipal Committee for Market Regulation&#39;s 2024 report on special-equipment safety, Tianjin has more than 160,000 registered elevators. As this installed base ages, demand for equipment modernization, technology-enabled maintenance and safety management is expected to increase, creating a significant local growth opportunity for Taoping.</p><p xmlns="http://www.w3.org/1999/xhtml"><b xmlns="http://www.w3.org/1999/xhtml">About Taoping Inc. </b></p><p xmlns="http://www.w3.org/1999/xhtml">Taoping Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/TAOP">TAOP</a>) 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&#39;s smart cloud platform, cloud services and solutions, and new media. For more information about Taoping, please visit <a xmlns="http://www.w3.org/1999/xhtml" href="http://en.taop.com" target="_blank" rel="nofollow">http://en.taop.com</a>. </p><p xmlns="http://www.w3.org/1999/xhtml"><b xmlns="http://www.w3.org/1999/xhtml">Safe Harbor Statement </b></p><p xmlns="http://www.w3.org/1999/xhtml">This press release contains &#34;forward-looking statements&#34; 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 &#34;anticipates,&#34; &#34;believes,&#34; &#34;can,&#34; &#34;continue,&#34; &#34;could,&#34; &#34;estimates,&#34; &#34;expects,&#34; &#34;intends,&#34; &#34;may,&#34; &#34;plans,&#34; &#34;potential,&#34; &#34;predicts,&#34; &#34;should,&#34; or &#34;will&#34; 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; risks related to our strategic transformation, including our ability to successfully transition from legacy businesses to platform-based services; risks related to executing our growth strategy in the smart elevator and intelligent infrastructure markets; our ability to obtain additional financing on acceptable terms if needed; intense competition in the IoT and smart city technology markets; changes in domestic and foreign laws, regulations and taxes; uncertainties related to China&#39;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&#39;s disclosure documents filed with the U.S. Securities and Exchange Commission (the &#34;SEC&#34;) available on the SEC&#39;s website at <a xmlns="http://www.w3.org/1999/xhtml" href="http://www.sec.gov" rel="nofollow">www.sec.gov</a>, including the Company&#39;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.</p>



<p xmlns="http://www.w3.org/1999/xhtml" id="PURL"><img xmlns="http://www.w3.org/1999/xhtml" title="Cision" width="12" height="12" alt="Cision" src="https://edge.prnewswire.com/c/img/favicon.png?sn=CN22382&amp;sd=2026-08-10"></img> View original content:<a xmlns="http://www.w3.org/1999/xhtml" id="PRNURL" rel="nofollow" href="https://www.prnewswire.com/news-releases/taoping-launches-new-smart-elevator-insurance-pilot-program-302846778.html" target="_blank">https://www.prnewswire.com/news-releases/taoping-launches-new-smart-elevator-insurance-pilot-program-302846778.html</a></p><p xmlns="http://www.w3.org/1999/xhtml">SOURCE Taoping Inc.</p>

TAOP

Taoping Launches New Smart Elevator Insurance Pilot Program

Taoping launches elevator insurance pilot with PICC P&C to cut maintenance costs

<section class="insight" data-version="1">
  <section data-block="information">
    <h3>Information</h3>
    <p>TIANJIN, China, Aug. 10, 2026 /PRNewswire/ -- Taoping Inc. (NASDAQ:TAOP) (&amp;#34;Taoping&amp;#34; or the &amp;#34;Company&amp;#34;), a provider of innovative cloud-based technologies, Smart City IoT platforms, and related products</p>
  </section>

  <section data-block="ai-summary-paragraph">
    <h3>AI Summary</h3>
    <p>Taoping announced Skyladder Technology&#039;s elevator insurance pilot with PICC P&amp;C in Tianjin, combining real-time monitoring, maintenance, and risk protection into a single service. The initiative targets a 20% reduction in lifecycle costs and leverages Tianjin&#039;s sizable elevator base (over 160,000 units) to establish a scalable, recurring-revenue platform with potential nationwide expansion.</p>
  </section>

  <section data-block="ai-summary-bullets">
    <h3>Key Points</h3>
    <ul><li>Taoping launches elevator maintenance insurance pilot in Tianjin with PICC P&amp;C.</li><li>Pilot targets 20% reduction in long-term elevator O&amp;M costs.</li><li>Skyladder Technology centers the real-time monitoring and integrated service model.</li><li>Tianjin has over 160,000 registered elevators, signaling a large local market.</li></ul>
  </section>

  <section data-block="companies-mentioned">
    <h3>Companies Mentioned</h3>
    <ul><li><strong>Taoping Inc. (TAOP)</strong>: Pilot could create recurring revenue from integrated elevator services and insurance; potential scaling across Tianjin.</li><li><strong>PICC Property and Casualty Company Limited (PICC P&amp;C)</strong>: Provides insurance coverage and distribution network; critical partner for the pilot’s risk protection model.</li><li><strong>Skyladder Tianjin Technology Development Co., Ltd.</strong>: Central to Elevator Insurance platform; coordinates real-time monitoring and maintenance integration.</li></ul>
  </section>

  <section data-block="category">
    <h3>Corporate Developments</h3>
    <p>Category: Corporate Developments. This reflects a strategic collaboration and rollout of a new product/service model, potentially expanding TAOP&#039;s recurring revenue and data-driven service capabilities.</p>
  </section>

  <section data-block="market-moving">
    <h3>Market-Moving</h3>
    <ul><li>Pilot with PICC P&amp;C may unlock recurring revenue opportunities for TAOP.</li><li>Large local base: Tianjin&#039;s 160k+ elevators provides substantial addressable market.</li><li>Execution risk in China and regulatory dynamics could cap upside.</li></ul>
  </section>

  <section data-block="key-facts">
    <h3>Key Facts</h3>
    <ul><li>Aug 10, 2026: Taoping announces elevator maintenance insurance pilot.</li><li>Target: 20% reduction in long-term elevator operating and maintenance costs.</li><li>Skyladder Technology is Taoping&#039;s subsidiary leading the program.</li><li>Tianjin has more than 160,000 registered elevators (2024 Tianjin market data).</li><li>Partnership with PICC Property and Casualty Company Limited drives insurance component.</li></ul>
  </section>

  <section data-block="trading-thesis">
    <h3>Trading Thesis</h3>
    <p>Near-term upside potential for TAOP if the pilot scales; watch for expansion news over 6–12 months.</p>
  </section>
</section>


<p xmlns="http://www.w3.org/1999/xhtml"><span xmlns="http://www.w3.org/1999/xhtml" class="legendSpanClass">TIANJIN, China</span>, <span xmlns="http://www.w3.org/1999/xhtml" class="legendSpanClass">Aug. 10, 2026</span> /PRNewswire/ -- Taoping Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/TAOP">TAOP</a>) (&#34;Taoping&#34; or the &#34;Company&#34;), a provider of innovative 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. (&#34;Skyladder Technology&#34;), has launched an elevator maintenance insurance pilot program with the Tianjin Branch of the People&#39;s Insurance Company of China Property and Casualty Company Limited (&#34;PICC P&amp;C&#34;).</p>
<p xmlns="http://www.w3.org/1999/xhtml">The new <b xmlns="http://www.w3.org/1999/xhtml"><i xmlns="http://www.w3.org/1999/xhtml">Insurance + Technology</i></b> model integrates real-time monitoring, maintenance and risk protection, while targeting a 20% reduction in long-term elevator operating and maintenance costs. The program is designed to bring together the community, insurer, property manager and maintenance provider in a unified service model designed to improve elevator safety, strengthen oversight and lower lifecycle operating costs.</p><p xmlns="http://www.w3.org/1999/xhtml">This compares to traditional elevator service models, which typically separate maintenance, parts replacement and insurance coverage among multiple providers. Taoping&#39;s new model integrates these services into a single coordinated offering, providing customers with one point of access for routine maintenance, equipment repairs, parts replacement and protection against passenger-related personal injury and property risks.</p><p xmlns="http://www.w3.org/1999/xhtml">The collaboration combines Taoping&#39;s smart elevator technology and standardized service platform with PICC P&amp;C&#39;s established customer relationships and local operating infrastructure. At the center of the new program is Skyladder Technology&#39;s proprietary Elevator Insurance platform. The system monitors elevator operating conditions around the clock, uses sensor data to flag potential issues for timely review and records each stage of the maintenance process. This creates greater transparency and accountability while helping prevent inadequate, unnecessary or improperly documented maintenance.</p><p xmlns="http://www.w3.org/1999/xhtml">Mr. Bin Ma, Co-Chief Executive Officer of Taoping, commented, &#34;By integrating real-time monitoring, standardized maintenance and insurance protection into a single offering, we can improve elevator safety, reduce lifecycle costs and simplify service for customers. This pilot validates the commercial potential of our proprietary technology and establishes a scalable platform for recurring growth. Together with PICC P&amp;C, we are well positioned to expand across Tianjin&#39;s large installed elevator base and, over time, pursue broader market opportunities that can create lasting shareholder value.&#34;</p><p xmlns="http://www.w3.org/1999/xhtml">According to the Tianjin Municipal Committee for Market Regulation&#39;s 2024 report on special-equipment safety, Tianjin has more than 160,000 registered elevators. As this installed base ages, demand for equipment modernization, technology-enabled maintenance and safety management is expected to increase, creating a significant local growth opportunity for Taoping.</p><p xmlns="http://www.w3.org/1999/xhtml"><b xmlns="http://www.w3.org/1999/xhtml">About Taoping Inc. </b></p><p xmlns="http://www.w3.org/1999/xhtml">Taoping Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/TAOP">TAOP</a>) 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&#39;s smart cloud platform, cloud services and solutions, and new media. For more information about Taoping, please visit <a xmlns="http://www.w3.org/1999/xhtml" href="http://en.taop.com" target="_blank" rel="nofollow">http://en.taop.com</a>. </p><p xmlns="http://www.w3.org/1999/xhtml"><b xmlns="http://www.w3.org/1999/xhtml">Safe Harbor Statement </b></p><p xmlns="http://www.w3.org/1999/xhtml">This press release contains &#34;forward-looking statements&#34; 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 &#34;anticipates,&#34; &#34;believes,&#34; &#34;can,&#34; &#34;continue,&#34; &#34;could,&#34; &#34;estimates,&#34; &#34;expects,&#34; &#34;intends,&#34; &#34;may,&#34; &#34;plans,&#34; &#34;potential,&#34; &#34;predicts,&#34; &#34;should,&#34; or &#34;will&#34; 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; risks related to our strategic transformation, including our ability to successfully transition from legacy businesses to platform-based services; risks related to executing our growth strategy in the smart elevator and intelligent infrastructure markets; our ability to obtain additional financing on acceptable terms if needed; intense competition in the IoT and smart city technology markets; changes in domestic and foreign laws, regulations and taxes; uncertainties related to China&#39;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&#39;s disclosure documents filed with the U.S. Securities and Exchange Commission (the &#34;SEC&#34;) available on the SEC&#39;s website at <a xmlns="http://www.w3.org/1999/xhtml" href="http://www.sec.gov" rel="nofollow">www.sec.gov</a>, including the Company&#39;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.</p>



<p xmlns="http://www.w3.org/1999/xhtml" id="PURL"><img xmlns="http://www.w3.org/1999/xhtml" title="Cision" width="12" height="12" alt="Cision" src="https://edge.prnewswire.com/c/img/favicon.png?sn=CN22382&amp;sd=2026-08-10"></img> View original content:<a xmlns="http://www.w3.org/1999/xhtml" id="PRNURL" rel="nofollow" href="https://www.prnewswire.com/news-releases/taoping-launches-new-smart-elevator-insurance-pilot-program-302846778.html" target="_blank">https://www.prnewswire.com/news-releases/taoping-launches-new-smart-elevator-insurance-pilot-program-302846778.html</a></p><p xmlns="http://www.w3.org/1999/xhtml">SOURCE Taoping Inc.</p>

Taoping announced Skyladder Technology's elevator insurance pilot with PICC P&C in Tianjin, combining real-time monitoring, maintenance, and risk protection into a single service. The initiative targets a 20% reduction in lifecycle costs and leverages Tianjin's sizable elevator base (over 160,000 units) to establish a scalable, recurring-revenue platform with potential nationwide expansion.

News insight

Taoping Launches New Smart Elevator Insurance Pilot Program

AI summary

Sentiment rationale

Key facts

Corporate Developments