Taoping reports Q1 revenue up 53% year-over-year to $8.3M

Reiterated expectation for sustained growth momentum throughout the year. CEO Lin Jianghuai said: “We are encouraged by the robust growth we’ve experienced and the positive feedback from customers, indicating that this momentum will continue as we progress through the year. Our growth is attributed to increasing demand and rebounding customer confidence along with the overall economy, leading to a resurgence in infrastructure investments. Our prudent strategy of supporting the Company’s innovative product development roadmap during challenging times in the past few years has positioned us to scale up now and drive sales growth, particularly as many other competitors are reducing their supply chains. Our steady growth plan offers flexible and innovative AI-related platform solutions that customers seek to enhance business efficiencies through the integration of data analytics. Importantly, by maintaining our course, we believe we are now positioned to achieve accelerated growth in both revenue and profitability, ultimately creating greater value for our shareholders.”