Datasea Signs its First Agreement in Beijing, China to Install its Proprietary Monitoring System
August 03 2020 - 8:30AM
Datasea Inc.
(NASDAQ: DTSS) (“Datasea” or the
“Company”), a technology company engaged in providing
smart security solutions and developing education-related
technologies in China, has entered into an agreement with Beijing
Tengyuejunjie Parking Management (“BTPM”) to install its
proprietary and Control System in Nantaipingzhuang Beixiang, a
residential community in the Chaoyang District of Beijing. The
total value of this engagement over the three-year term of this
engagement is RMB [55,000] or approximately $[7,800]; this
engagement will be the first-of-its-kind arrangement for the
Company in Beijing.
Datasea’s proprietary system was developed
specifically to monitor potential public healthcare threats within
schools and public communities. The system facilitates contactless
body temperature measurement and uses artificial intelligence-based
face recognition technology, automatically identifying individuals
at the community’s ingress and egress access points, thus allowing
BTPM to monitor activity and receive real-time feedback in that
community.
Under the terms of this arrangement, Datasea
will provide the hardware, software, and the installation services
to Nantaipingzhuang Beixiang, a community with more than 1,200
homes and 4,000 residents.
“We are encouraged to see our domestic footprint
expand into Beijing,” said Datasea Chairman and CEO, Ms. Liu
Zhixin. “As the capital of China, Beijing has a population of over
21 million residents and more than 6,000 residential communities.
Our long-term growth strategy is to capture as much of this densely
populated part of China as possible. Our team has been hard at work
in developing our proprietary technology, and we are proud to see
it yield positive results.”
About Datasea Inc.Datasea is a
technology company in China engaged in providing smart security
solutions and developing education-related technologies. Datasea
leverages its proprietary technologies, intellectual property,
innovative products and market intelligence to provide
comprehensive and optimized security solutions and
education-related technologies to its clients. For additional
company 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" and similar
statements. 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 many
of which are beyond Datasea's control, which may cause Datasea's
actual results, performance or achievements (including, without
limitation, the performance and related results of operations
arising from Datasea’s contracts and products addressed in this
press release), Datasea’s ability to maintain the Beijing or
similar arrangements, 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 the law.
Investor Relations Contact:
Gateway Investor RelationsMatt Glover and John
YiDTSS@gatewayir.com949-574-3860
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