Datasea Enters into a $7.88 Million Procurement Agreement to Provide 5G Messaging Smart City Solutions
April 05 2022 - 8:30AM
Datasea Inc., (NASDAQ: DTSS) ("Datasea" or the "Company"),
incorporated in Nevada in September 2014, is a digital technology
corporation engaged in three converging and innovative business
segments: 5G messaging, acoustic intelligence, and smart city
technology in China. Today, the Company announced that Heilongjiang
Xunrui Technology Co., Ltd. ("Xunrui"), a subsidiary of the Chinese
operating company contractually controlled by the Company, has
executed a purchase agreement with Jiangsu Xinrong Network
Technology Research Institute Co., Ltd. ("Xinrong”), a company
providing software development, artificial intelligence, and big
data solutions.
In conjunction with the agreement, Xinrong will establish and
operate information systems for 100 residential communities and has
agreed to purchase 5G messaging smart city solutions directly
from Xunrui at a budget of RMB 500,000 (approximately USD 78,800)
per residential community. Xinrong estimates that the total value
of this engagement would be RMB 50 million (approximately USD
7.88million) over the course of the two-year agreement. The 5G
messaging smart city solutions include the offerings of hardware
equipment which adopts artificial intelligence-based face
recognition technology to assist in identifying the potential
public security risks, and software which leverages cloud computing
and 5G messaging technology to facilitate intelligent management of
the community safety. The 5G messaging smart city solutions will
not only offer visibility but also help the property management
teams identify behavioral pattern, generate objective, real-time
qualitative measurement, and analysis, and eventually prevent
safety risks and support proactively safety management.
"We formed a strategic alliance with Xinrong last year and are
very pleased to take this relationship to fruition, which we
believe to be in the best interest of both companies. Datasea is
highly committed to fundamentally reshaping the products and
solutions of our partners and customers while driving growth,” said
Zhixin Liu, CEO of Datasea, “Moreover, this agreement also
demonstrates great synergies among our different business lines,
for example, how 5G messaging and smart city solutions can be
integrated to reinforce each other. With the adoption of 5G
messaging, the smart city solutions respond and process information
more efficiently. We’ll keep leveraging our market acumen and
technology advantages in different business lines and review
opportunities to unlock greater value and drive continued
transformation. Datasea looks to enhance market advantages in
structurally critical enablers of our business and develop
long-term competitiveness.”
About Datasea Inc.Datasea Inc., through its
variable interest entity, Shuhai Information Technology Co., Ltd.,
a digital technology company in China, engages in three converging
and innovative industries: smart city, acoustic intelligence and 5G
messaging. Datasea leverages facial recognition technology and
other visual intelligence algorithms, combined with cutting-edge
acoustic and non-visual intelligence algorithms, to provide smart
city solutions that meet the security needs of residential
communities, schools and commercial enterprises. Most recently, in
response to the growing utilization of 5G technologies and the
overall initiative to utilize Datasea’s technology capabilities to
expand business coverage and revenue resources, Datasea has also
strategically expanded business coverage to 5G messaging and smart
payment solutions. Datasea has been certified as one of the
High-Tech Enterprises (jointly issued by the Beijing Science and
Technology Commission, Beijing Finance Bureau, Beijing State
Taxation Bureau and Beijing Local Taxation Bureau) and one of the
Zhongguancun High Tech Enterprises (issued by the Zhongguancun
Science Park Administrative Committee) in recognition of the
company’s achievement in high technology products. For additional
company information, please visit: www.dataseainc.com. Datasea
routinely posts important information on its website.
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:
International Elite Capital Inc. Annabelle ZhangTelephone:
+1(646) 866-7989 Email: Datasea@iecapitalusa.com
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