Taoping Inc. (NASDAQ: TAOP) shares fell despite securing a new sales agreement worth $2.8 million with Hunan Xiuxiang Agricultural Technology Co., Ltd.
The agreement involves Taoping supplying designated agricultural products to Xiuxiang Agricultural over a two-year period, aiming to modernize operations and enhance supply chain efficiency.
This deal follows a previous agreement this year for a project in Yunnan Province expected to have an annual output value of $83.3 million by 2027.
CEO Jianghuai Lin expressed confidence in unlocking significant value for shareholders in the agricultural market, where there is high demand for products in China.