New Agreement Expected to Fuel Revenue and with an Estimated
Value of $30 Million
BEIJING, Feb. 15,
2024 /PRNewswire/ -- Datasea Inc., (NASDAQ: DTSS)
("Datasea" or the "Company"), a Nevada incorporated digital technology
corporation engaged in innovative business segments for intelligent
acoustics and 5G multimodal communication technology in
China announced today that
on February 2, 2024, Guozhong
Times (Beijing) Technology
Ltd. ("Guozhong Times"), a
subsidiary of the Chinese operating company contractually
controlled by the Company, has entered into a Cooperation Agreement
(the "Agreement") with Hangzhou Chongda Technology Co., Ltd.
("Chongda") to increase the sales of 5G multimodal communication
services in China.
Datasea CEO Zhixin Liu commented,
"We are pleased to enter into this new collaboration as it will
help to identify potential customers that need our 5G multimodal
communication delivery services, and enable us to quickly roll out
our unique platform to new customers. We believe that Datasea can
capitalize on more opportunities of this nature to generate revenue
and it is in line with our mission to become a leading provider of
digital technology solutions as well as our unwavering commitment
to the 5G multimodal communication market in China. At the same time, the company is
negotiating with major potential clients of 5G multimodal
communication services and expects to reach more agreements."
Under the Agreement, Chongda can purchase 5G multimodal
communication delivery services over the course of the 12 months
commencing on February 3, 2024, with
an estimated total value of approximately US$ 30 million (approximately RMB 215 million).
Chongda, a leading provider of marketing services, offers
high-quality mobile phone plans, prepaid fuel service plans, and
prepaid electricity top up plans to tens of thousands of Chinese
enterprises, e-commerce platforms and individuals. The Agreement
between Guozhong Times and Chongda
exemplifies that Guozhong Times is
highly active in providing 5G multimodal communication services,
data interfaces and a 5G multimodal communication platform for
related services and management.
The demand for 5G multimodal communication services in
China is high and such demand is
expected to continue to rise. Datasea recorded US $18.3 million in revenue from 5G multimodal
communication related services in the first and second quarters of
2024 in aggregate, proving its ability to provide customers with
efficient and top-notch services. This achievement underscores
Datasea's leading market positioning in delivering efficient and
customized services to individual and enterprise users.
About Datasea Inc.
Datasea Inc. ("Datasea") is a leading provider of products,
services, and solutions for enterprise and retail customers in
innovative industries, Intelligent Acoustics and 5G multimodal
communication, especially focusing on ultrasonic, infrasound and
directional sound technology. The Company's advanced R&D
technology serves as the core infrastructure and backbone for its
products. Its 5G multimodal communication segment operates on a
cloud platform based on AI. Datasea leverages cutting-edge
technologies in intelligent acoustics, utilizing ultrasonic
sterilization to combat viruses and prevent human infections, and
is also developing innovations in directional sound and medical
ultrasonic cosmetology. In July 2023,
Datasea established a wholly-owned subsidiary, Datasea Acoustics
LLC, in Delaware, in a strategic
move to mark its global presence. This underlies Datasea's
commitment to Intelligent Acoustics and its intent to offer leading
edge acoustic solutions to the US market. For additional
information, please visit: www.dataseainc.com.
Cautionary Note Regarding Forward-Looking
Statements
This press release contains forward-looking
statements within the meaning of Section 21E of the Securities
Exchange Act of 1934 and as defined in the U.S. Private Securities
Litigation Reform Act of 1995. These forward-looking statements can
be identified by terminology such as "will", "expects",
"anticipates", "future", "intends", "plans", "believes",
"estimates", "target", "going forward", "outlook," "objective" and
similar terms. Such statements are based upon management's current
expectations and current market and operating conditions, and
relate to events that involve known or unknown risks, uncertainties
and other factors, all of which are difficult to predict and which
are beyond Datasea's control, which may cause Datasea's actual
results, performance or achievements (including the RMB/USD
value of its anticipated benefit to Datasea as described herein) to
differ materially and in an adverse manner from anticipated results
contained or implied in the forward-looking statements. Further
information regarding these and other risks, uncertainties or
factors is included in Datasea's filings with the U.S. Securities
and Exchange Commission, which are available at www.sec.gov.
Datasea does not undertake any obligation to update any
forward-looking statement as a result of new information, future
events or otherwise, except as required under law.
Investor and Media Contact:
Datasea Inc. Investor relations
Email: investorrelations@shuhaixinxi.com
sunhezhi@shuhaixinxi.com
Precept Investor Relations LLC
David Rudnick
+1 646-694-8538
david.rudnick@preceptir.com
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SOURCE Datasea Inc.