New Entity to be Focused on Increasing Scale
of Datasea's 5G Services Utilizing Artificial Intelligence,
which is Expected to Drive Significant Revenue in 2024
BEIJING, Feb. 20,
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 December 22, 2023,
Guozhong Times (Beijing) Technology Ltd. ("Guozhong Times"), a subsidiary of the Chinese
operating company contractually controlled by the Company,
established a joint venture company in China with new partner Shenzhen Yiyun
Technology Co., Ltd. ("Yiyun Technology"). The joint venture
company, Datasea Yiyun (Shenzhen)
Digital Technology Co., Ltd. ("DataSea Digital"), has been formed
in an attempt to further penetrate the 5G multimodal communications
sector by leveraging Artificial Intelligence ("AI") and combining
Datasea's technology and service capabilities with Yiyun
Technology's digital technology marketing, promotion and 5G
operations capabilities. Datasea holds 66% total of the equity of
DataSea Digital and Yiyun Technology holds a 34% ownership
position.
Datasea's CEO Zhixin Liu
commented, "We are pleased to have established this joint venture
company with Shenzhen Yiyun Technology Co., Ltd., as it will
combine the operating resources of our two companies in the field
of 5G multimodal communication to enhance our core competitive
advantages in the market and effectively provide 5G multimodal
communication services to both enterprises and individual
customers. We believe that the new joint venture will bring more
efficient and intelligent AI based 5G multimodal communications
solutions to customers across a wide spectrum of applications. The
joint venture is a vital part of our strategic growth plan that we
believe will create new sources of revenue while further
diversifying our customer base."
DataSea Digital, the new joint venture company, will serve as
the core business carrier of Datasea's AI based 5G multimodal
communication services. Datasea's 5G multimodal communication
represent a technological breakthrough based on the Company's
original 5G messaging service. Leveraging the world's largest 5G
network, computational power network, and middleware capabilities,
the Company achieves multimodal data transmission through
technological iterations and upgrades. A key attribute of the
technology entails cross-modal information integration and data
transmission and processing, which is carried out with images,
videos, and text created by AI. This enriches transmission content,
and makes user operation extremely convenient, lowers the
requirements for users, and improves the quality of the customer
experience and data information interaction.
The Company believes that the channel advantages and operational
management strengths of both parties confer sustainable competitive
advantages to the joint venture, its technological capabilities,
the marketing and acquisition of new customers, and the pricing of
products and services in China's
5G multimodal communication sector. In addition, operational
objectives for the joint venture have been established and a plan
has been developed to promote optimal collaborative procedures and
workload management.
Datasea's Technological Capabilities
As one of the leading service providers in China's 5G multimodal communication sector,
Datasea will support DataSea Digital in continuously upgrading its
main products and services, which include the following business
areas: (1) 5G multimodal smart agriculture (digital rural) service
platform; (2) 5G multimodal small and medium-sized enterprise
service platform; (3) 5G multimodal logistics and express service
platform; (4) 5G multimodal new media marketing service platform;
and (5) the three major China
telecom operators' 5G mutimodal top up platform and other operation
services.
Datasea's AI based 5G multimodal communication products exhibit
high adhesion and high activity, and integrate technologies such as
AI-driven interactions, multimedia, and multilingual processing
modules, to provide efficient and convenient services with
immersive experiences. This can bring brand enhancement, customer
acquisition, market promotion and additional revenue to a wide
range of enterprise customers. Datasea's 5G multimodal
communication intelligent product solutions provide 5G digital and
intelligent services and various value-added services for more than
48 million enterprises and individual users throughout China. The industries the Company serves
include finance, banking and insurance, telecommunications, retail
and consumer goods, transportation and logistics, smart home, smart
agriculture, healthcare and medical, education, enterprise
production, smart cities, the Internet of Things, entertainment and
media, and finance.
Industry Data
According to the 'China Mobile Economic Development 2023' annual
report released by GSMA, the number of 5G mobile phone users in
China reached 805 million in 2023,
accounting for 46.6% of China's
mobile phone users, which is 2.5 times the global average.
According to recent data released by GSMA, a global organization
representing the interests of mobile network operators, it is
projected that China will become
the first market with a 5G connection of 1 billion users by 2025,
and by 2030, China's 5G
connections will reach 1.6 billion users, accounting for nearly
one-third of the global total. According to TDIA estimates, the
scale of China's 5G communication
market was approximately 262.5 billion US
dollars (1.89 trillion RMB) in
2022. It is projected that by 2025, the scale of China's 5G communication market will reach
approximately 527.8 billion US
dollars (3.8 trillion
RMB).
About Shenzhen Yiyun Technology Co., Ltd.
Shenzhen Yiyun Technology Co., Ltd. ("Yiyun Technology") is a
privately held, leading digital technology marketing and promotion
and 5G operations company that has ongoing collaborations in the
telecom, energy, transportation and financial sectors, and has
service experience in 5G related fields. Yiyun Technology's core
business focuses on the marketing, promotion and operation of a 5G+
business, and the provision of customer agency services for various
5G value-added services, entertainment digital product services,
public utility payment channels, and other related service
channels. It functions as a long-term supply chain enterprise for
Chinese telecom operators and energy operators, and is an
authorized operator for China's
Transportation Card, which encompass numerous large and
medium-sized industries and customer groups.
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 U.S. 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 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.