Taoping Inc. filed a Form 6-K containing audited and unaudited financial statements for two acquired elevator service subsidiaries, Shenzhen Smart Skyladder IoT Co., Ltd. and Tianjin Weida Elevator Co., Ltd., along with pro forma combined financial information reflecting the acquisition.
Key takeaways
The filing includes audited financial statements for Shenzhen Smart Skyladder IoT Co., Ltd. and Tianjin Weida Elevator Co., Ltd. for the years ended December 31, 2024 and 2023, with unqualified audit opinions from PKF Littlejohn LLP.
Unaudited condensed financial statements for both subsidiaries are provided for the six months ended June 30, 2025 and 2024, showing operational results post-acquisition.
Unaudited pro forma condensed combined financial information presents TAOP's financial position and results as if the acquisition of Skyladder Group Limited had occurred on June 30, 2025 and January 1, 2024, respectively.
The acquisition of Skyladder Group Limited by Taoping Holdings Limited, a wholly owned subsidiary of TAOP, was consummated on November 26, 2025, for a maximum consideration of RMB 152 million payable in TAOP ordinary shares contingent on performance targets.