Taoping terminates LOI to acquire Alphalion Holding

In light of accelerating demand across both new smart elevator deployments and recurring maintenance contracts, the company has elected to terminate the previously announced on October 17, 2025, non-binding letter of intent to acquire Alphalion Holding, reflecting a disciplined capital allocation strategy and a clear prioritization of higher-return opportunities within its core business. Pursuant to the LOI, the company may terminate it prior to entering into any definitive agreement for the transaction during the process of conducting due diligence.