Agreements Boost Fiscal 2025 Revenue and
Expand Datasea's 5G Application Market Positioning in China
BEIJING, Sept. 17,
2024 /PRNewswire/ -- Datasea Inc. (NASDAQ: DTSS)
("Datasea" or the "Company"), a Nevada-based company focused on innovative
high-tech acoustics and 5G-Artificial Intelligence ("AI")
multimodal digital technology in the
United States and China,
today announced that, on August 12,
2024, its Chinese subsidiaries, Shuhai Information
Technology Co., Ltd. ("Shuhai Information") and Guozhong Times (Beijing) Technology Co., Ltd. ("Guozhong Times"), each entered into an agreement
(the "Agreements") with Qingdao Ruizhi Yixing Information
Technology Co., Ltd. ("Qingdao Ruizhi Yixing") to supply Qingdao
Ruizhi Yixing a range of advanced 5G-AI multimodal services.
Datasea's CEO, Zhixin Liu,
commented, "These Agreements signify our continued success in
providing top-tier digital services and reinforce our goal of
becoming a leading provider of 5G-AI multimodal digital services in
China. Our leading-edge solutions
meet the needs of our customers on both a technological and
cost-effective basis and have become an essential element to their
business productivity."
As of September 12, 2024,
Datasea's Shuhai Information and Guozhong
Times had already provided services worth an aggregate of an
estimated RMB 65.4 million
(approximately $9.0 million) to
Qingdao Ruizhi Yixing, reflecting the growing demand for 5G
value-added services. The terms of the Agreements stipulate that
Shuhai Information and Guozhong
Times will provide a range of 5G-AI multimodal digital
services including enhanced products including specialized
marketing tools tailored to meet the specific needs of Qingdao
Ruizhi Yixing's business customers.
Qingdao Ruizhi Yixing is a well-established provider of
high-quality mobile internet promotion services to enterprises
across China. Their collaboration
with Datasea demonstrates the ongoing demand for 5G-AI application
services and underscores the Company's ability to provide
innovative solutions on a large scale.
According to the Agreements, beginning on August 9, 2024 and continuing over a period of 12
months, Shuhai Information and Guozhong Times will provide an
array of enhanced 5G multimodal digital services to Qingdao Ruizhi
Yixing with an estimated total value of an aggregate of
$30 million (approximately
RMB 210 million) based on its product
and service needs. The Company expects the Agreements will have a
substantially positive revenue impact on its financial performance
in fiscal 2025 and will further enhance Datasea's positioning in
China's 5G Application landscape.
Datasea plans to continue aggressively marketing these products and
services, potentially leading to additional contracts in the near
future.
About Datasea Inc.
Datasea Inc. ("Datasea") is a leading provider of products,
services, and solutions for enterprise and retail customers in two
innovative industries, acoustic high tech and 5G-AI multimodal
digitalization. The Company's advanced R&D technology serves as
the core infrastructure and backbone for its products. Its 5G
multimodal digital segment operates on a cloud platform based on
AI. Datasea leverages cutting-edge technologies, precision
manufacturing and ultrasonic, infrasound and directional sound
technology in its acoustics business to combat viruses and prevent
human infections, and it is also developing applications in medical
ultrasonic cosmetology. In July 2023,
Datasea established a wholly-owned subsidiary, Datasea Acoustics
LLC, in Delaware, in a strategic
move to enter the U.S. markets and to mark its global expansion
plan. 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 SEC, 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 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.
