Agreement to Have Powerful Revenue Impact and
is Expected to Lead to More Lucrative Contracts
BEIJING, June 3, 2024
/PRNewswire/ -- Datasea Inc. (NASDAQ: DTSS) ("Datasea" or the
"Company"), a Nevada company
engaged in innovative business segments in high-tech intelligent
acoustics and 5G-Artificial Intelligence ("AI") multimodal
communication technology in the United
States and China, today
announced that on May 11, 2024, its
Chinese operating entity, Shuhai Information Technology Co., Ltd.
("Shuhai Information"), has entered into a Cooperation Agreement
(the "Agreement") with Beijing Haoteng Chuangxiang Technology Co.,
Ltd. ("Haoteng Chuangxiang") , to enhance the Company's 5G AI
multimodal business in the China.
Datasea's CEO, Liu Zhixin, stated, "This Agreement will lead to
greater revenue for the Company and will help us to fulfill our
mission to become a leading digital technology solution provider in
China. This is the third agreement
that we have entered into over the last three months which reflects
our sales prowess as well as Datasea's distinctive ability to
promote customers' brands by providing them with sophisticated
high-end 5G multimodal services."
According to the Agreement, beginning on May 11, 2024 and continuing over a period of 12
months, Shuhai Information will provide an array of enhanced 5G
information services to Haoteng Chuangxiang based on its service
needs. Shuhai Information entity will utilize the transmission and
AI capabilities of its 5G AI multimodal platform to provide
specialized interfaces which enable a more efficient delivery of
targeted advertising and market promotion information to mobile
phone user customers of Haoteng Chuangxiang. Shuhai Information
will settle with Haoteng Chuangxiang and recognize revenue based on
the actual information service provided.
In the first ten days of the
Agreement, Shuhai Information has already provided approximately
$2.8 million (RMB 20.0 million) worth of 5G information
services to end-users based on Haoteng Chuangxiang's market demand,
which is an early indication of the Agreement's potentially
powerfully implications. The Company estimates that it can generate
approximately $86.0 million revenue
forecast for its 2024 fiscal year.
Haoteng Chuangxiang is a leading marketing service provider that
offers high-quality mobile internet promotion and advertising
services to tens of thousands of domestic enterprises, e-commerce
platforms and individuals. The Company believes that there is a
huge demand for 5G value-added services in China, and Datasea has the proven ability to
provide top-tier 5G multimodal services to enterprises on a large
scale. It is the Company's plan to continue to aggressively market
these services and generate additional revenue streams in the
periods ahead.
About Datasea Inc.
Datasea Inc. ("Datasea") is a leading provider of products,
services, and solutions for enterprise and retail customers in two
innovative industries, acoustic high tech and 5G-AI multimodal
communications. 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, precision
manufacturing and ultrasonic, infrasound and directional sound
technology in its acoustics business to combat viruses and prevent
human infections, and it is also developing applications in medical
ultrasonic cosmetology. In July 2023,
Datasea established a wholly-owned subsidiary, Datasea Acoustics
LLC, in Delaware, in a strategic
move to enter the U.S. markets and to mark its global expansion
plan. 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 SEC, 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 Investor
Relations
Email: investorrelations@shuhaixinxi.com
sunhezhi@shuhaixinxi.com
Precept Investor Relations LLC
David Rudnick
+1 646-694-8538
david.rudnick@preceptir.com
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SOURCE Datasea Inc.