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 relationsEmail: investorrelations@shuhaixinxi.com sunhezhi@shuhaixinxi.com
Precept Investor Relations LLCDavid Rudnick+1 646-694-8538david.rudnick@preceptir.com
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