DTSS on Track to Achieve Record Revenue for
Fiscal 2024 as it Further Penetrates China's $528 Billion 5G Market
BEIJING, May 6, 2024
/PRNewswire/ -- Datasea Inc. (NASDAQ: DTSS) ("Datasea" or the
"Company"), a digital technology company incorporated in
Nevada and engaged in innovative
business segments for acoustic high tech and 5G-AI multimodal
communication technology in China,
pre-announced estimated revenue of approximately $12.5 million for the month of April 2024. This revenue, which is mainly
attributable to Datasea's 5G multimodal communication business,
supports the Company's revenue previously announced guidance of
$86 million for its full fiscal year,
representing a 1,128% year-over-year increase.
Datasea's CEO, Zhixin Liu,
commented, "Our projected revenue stems primarily from our leading
5G-AI multimodal communication business. Through relentless effort
and continuous innovation, we have established solid cooperative
relationships with major clients, providing strong impetus for the
company's business growth, and we expect to achieve revenue of
$86 million for the full fiscal year,
as projected. Our clients include important partners whose trust
and support represent a vital factor in our success."
The Company's announcement of estimated revenue of approximately
$12.5 million for the month of
April 2024 accelerates the Company's
revenue ramp, as it recorded approximately $11.3 million in revenue for the three months
comprising its second quarter ended December
31, 2023. The Company will announce its third quarter
financial results for the period ended March
31, 2024, in mid-May.
Datasea's 5G Communications Segment
Datasea serves more than 48 million enterprises and individual
users in China with digital and
intelligent services utlilizing its AI, machine learning and data
analytic capabilities that result in an array of 5G intelligent
products and solutions. Datasea's 5G-AI multimodal communication
represents 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.
Datasea has completed a major upgrade of its core 5G multimodal
communication business with AI processing technology. Currently, it
can achieve AI creation and generation of various information forms
including sound, text, images, and videos, as well as efficient
transmission and AI digital human marketing functions. This
capability can empower numerous industries and clients with highly
effective marketing and video matrix capabilities. It can confer
highly positive benefits to our clients in terms of brand
enhancement, customer acquisition, market promotion and revenue
uplift.
Datasea's Intelligent Acoustics Segment
Datasea is a leading developer of intelligent acoustics and is
committed to its technological advancement. The Company focuses on
ultrasound, infrasound, directional sound and Schumann resonance
technology to meet the evolving needs of its customers and
communities worldwide. The Company's core products include a series
of acoustic products under the "Hailijia" brand, equipped with
ultrasonic core modules featuring powerful functions such as
sterilization, odor elimination, and air purification. These
products can be widely used in various spaces including bedrooms,
closets, bathrooms and various public spaces, providing households
and businesses with clean, hygienic, and secure environments. The
"Star Dream" brand's acoustic sleep aid products utilize specific
ultrasonic wavelengths to provide users with a quiet and
comfortable sleep environment.
The Company's products are currently being sold in China, and through its wholly-owned
subsidiary, Datasea Acoustics LLC based Delaware, the Company plans to introduce its
cutting-edge antivirus acoustic solutions to the US market. In
April 2024, Datasea entered into an
agreement with iPower Inc. (NASDAQ: IPW) to expand the distribution
of its acoustic-related products in the U.S. online market.
Financial Disclosure Advisory
The preliminary results for April
2024 are an estimate, based on information available to
management as of the date of this release, and are subject to
further changes upon completion of the Company's standard quarter
and year-end closing procedures. This update does not present all
necessary information for an understanding of Datasea's financial
condition as of the date of this release, or its results of
operations for the period discussed. As Datasea completes its
year-end financial close process and finalizes its financial
statements for the year ended June 30,
2024, it will be required to make significant judgments in a
number of areas. It is possible that Datasea may identify items
that require it to make adjustments to the preliminary financial
information set forth above and those changes could be material.
Datasea does not intend to update such financial information prior
to release of its audited financial statements for the year ended
June 30, 2024.
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
communications. 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, 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.