Benzinga | Apr 21, 2021 08:06AM EDT

Taoping Says Establishes Taoping Capital Limited To Expand Business In Taoping G Cloud And Blockchain Industry

Taoping Inc. (NASDAQ:TAOP, the &quot, Company&quot, ))))), 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.