The Three Agreements Support Continued Fiscal
Year 2025 Revenue Growth for its Core AI-Based
Businesses
BEIJING, July 1, 2024
/PRNewswire/ -- Datasea Inc. (NASDAQ: DTSS) ("Datasea" or the
"Company"), a Nevada corporation
engaged in innovative businesses in high-tech intelligent acoustics
and 5G-Artificial Intelligence ("AI") multimodal communication
technology in the United States
and China, today announced three
new sales agreements with its subsidiaries in China. If the parties to these agreements that
total approximately $61.7 million
that encompass two agreements for its 5G-AI communications segment,
and one agreement for its high tech acoustic products segment.
Ms. Liu Zhixin, CEO of Datasea, commented, "We are pleased to
enter into the new agreements as they are expected to increase new
customer orders for both our 5G AI communications and acoustics
products segments. We believe that both of our businesses are
beginning to gain excellent traction due to their high value in the
5G communications and healthy living marketplaces. In addition, we
are confident that the two segments' core AI functionality will
drive further technological innovation and increased market
share."
Datasea's three new sales agreements are as follows:
- On May 15, 2024, the Company's Guozhong Haoze subsidiary
signed a 5G AI Multimodal Communication Agreement with Shenzhen
Juhaowan Technology Co., Ltd. ("Juhaowan"), an online lifestyle
services and application service provider. According to the
agreement, Juhaowan can purchase 5G multimodal communication
delivery services from Guozhong Haoze over the course of 12 months
that have an estimated total value of up to $30 million.
- On May 13, 2024, the Company's
Heilongjiang Xunrui subsidiary signed a 5G AI Multimodal
Communication Agreement with Shenzhen Yuzhongqing Technology Co.,
Ltd. ("Yuzhongqing "), a firm primarily engaged in internet and
related services. According to the agreement, Yuzhongqing can
purchase 5G multimodal communication delivery services from
Heilongjiang Xunrui over the course of 12 months that have an
estimated total value of up to $30
million.
- On June 8, 2024, the Company's Shuhai Jingwei subsidiary
entered into an Acoustic Products Sales Agreement with Tianjin
Qianli Culture Communication Co., Ltd. ("Qianli Culture"), an
internet promotion and marketing service provider, for the
Company's acoustic high tech products. According to the agreement,
Qianli Culture will purchase a total of approximately 20,000 units
of the company's "Tianer" and "Star
Sleep" branded products, including air disinfection
machines, restroom deodorization and disinfection devices, and
sleep aids, by December 31, 2024; the
total contract amount is approximately $1.7
million.
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.
