Datasea Signs Six Service Agreements to Implement Its Smart Information Service System in Guangdong Province, China
September 10 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 service agreements
involving its Smart Information Service System (the “Smart System”)
with Shenzhen Linghang Haocheng Education Technology Co., an
education training company, Shenzhen Weisou Technology Co., an
application operator, and four gas stations in Shenzen and Shanwei,
all located on the Guangdong province.
Datasea’s Smart System is designed to service
the needs of retail industry vendors and utilizes big data
analytics and facial recognition technology. The system allows
retailers to employ facial recognition technology to charge
customers to be used at the point of sale. The Company will install
hardware equipment for the clients, perform regular maintenance,
and provide the Smart System in exchange for 0.38% of transaction
value of each transaction utilizing the Company’s technology. The
term of each of the service agreement is one year.
“Our Smart Information Service System allows
retailers to collect payments from customers without the need to
physically interact,” said Chairman and CEO, Ms. Liu Zhixin. “Our
R&D team has leveraged our existing intellectual property of
big data analytics to diversify our product offerings to cater to
the needs of retailers. We are certainly encouraged by these
agreements in the Guangdong province.”
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 and generate any
revenue from the agreements subject of this press release, 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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