BEIJING, April 9,
2024 /PRNewswire/ -- Datasea Inc. (Nasdaq: DTSS)
("Datasea" or the "Company"), a digital technology company
incorporated in Nevada, dedicated
to innovative business in acoustic high tech and 5G-Artificial
Intelligence multimodal communication technology in the United States and China, today announced that Ms. Zhixin Liu, Founder and Chief Executive Officer
of Company, intends to purchase up to $3,000,000 of the
Company's common stock from time to time from her personal funds
over the next 12 months. Such purchases will be executed on the
open market at prevailing market prices, and CEO Ms. Zhixin Liu has sole discretion as to how much
Datasea common stock she will purchase, up to a $3,000,000 limitation. CEO Ms. Zhixin Liu currently holds a 25.08% position of
the common stock, which represents the largest ownership position
of the Company's shares.
Datasea's CEO Ms. Zhixin Liu
commented, "I believe that the current price of our stock is
undervalued and that it is not a true reflection of value of our
two core businesses. The company has made substantial progress in
our business initiatives and believe that our growth momentum will
continue. Further, I have a very high degree of confidence in our
strategic plan and believe that our stock price should reflect both
the value of our current business as well as our growth
prospects."
The specific timing and amount of the purchases of the Company's
common stock by CEO Ms. Zhixin Liu
may be made from time to time on the open market at prevailing
market prices, in privately negotiated transactions, in block
trades or through other legally permissible means, and it will be
determined by the market and other conditions, securities law
limitations and other applicable rules and regulations. CEO Ms.
Zhixin Liu intends to make all share
purchases in compliance with applicable regulatory guidelines and
to administer the plan in accordance with applicable laws,
including Rule 10b-5-1 and Rule
10b-18 of the Securities Exchange Act
of 1934, as amended.
About Datasea Inc.
Datasea Inc. ("Datasea" or the "Company") is a leading provider
of products, services, and solutions for enterprise and retail
customers in converging and innovative industries, acoustics high
tech and 5G-AI multimodal communication, especially focusing on
ultrasonic, infrasound and directional sound technology. The
Company's advanced research and development technology serves as
the core infrastructure and backbone for its products. Its 5G-AI
multimodal communication segment operates on a cloud platform based
on artificial intelligence. Datasea leverages cutting-edge
technologies in acoustics high tech, 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 acoustics and its intent to offer cutting-edge
acoustic solutions to the U.S. 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
Precept Investor Relations LLC
David Rudnick
+1 646-694-8538
david.rudnick@preceptir.com
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SOURCE Datasea Inc.