The orders for Taoping’s subsidiary reflect growing demand for smart elevator solutions amid infrastructure expansion.
Taoping announced its subsidiary, Skyladder Technology Development, has won $5.2M in new smart elevator project orders. The contracts span multiple projects, signaling increased adoption of automated elevator systems.
The company did not disclose prior order volumes but noted the deals align with broader industry trends toward smart building technologies. Earlier this year, Taoping expanded its elevator division to capitalize on urbanization-driven demand.
Shares of Taoping rose nearly 4% in pre-market trading following the announcement, reflecting investor optimism about the new contracts.