BEIJING, May 23, 2023 (GLOBE NEWSWIRE) -- Datasea Inc., (NASDAQ: DTSS) ("Datasea" or the "Company"), incorporated in Nevada on September 2014, is a digital technology corporation engaged in three converging and innovative business segments: 5G messaging, acoustic intelligence, and digital smart city technology in China. Today, the Company is pleased to announce that Shuhai Jingwei Technology Co., Ltd. ("Shuhai Jingwei"), a subsidiary of the Chinese operating company contractually controlled by the Company, has entered into a 5G Messaging Recharge Service Agreement with Quanzhen Hulian Technology (Shenzhen) Co. Ltd. ("Quanzhen Hulian").
Quanzhen Hulian, is an avant-garde service enterprise and serves its clients from multifarious sectors, encompassing new media, smart education, and exhibitions, with top-tier information services such as online mobile phone recharge for all major telecom service providers in China.
The Company believes that the agreement with Quanzhen Hulian strategically places Datasea at the epicenter of the rapidly evolving 5G landscape. By providing consistent 5G message recharge services to Quanzhen Hulian's end-users, Datasea fortifies its commitment to leading innovation while enhancing its product portfolio, client diversification, and brand recognition. The collaborative approach to developing bespoke systems catering to client needs further underscores Datasea's client-centric ethos and its dedication to delivering superior customer service.
The agreement contemplates a mutually beneficial arrangement with Quanzhen Hulian procuring recharge services in the range of 10-500 RMB. This transaction has the potential to expand Datasea's 5G top up business scope, and under the agreement, Quanzhen Hulian estimates that it will purchase up to 5 million RMB (712,900 USD) per month over the next year, subject to final confirmation of orders.
CEO of Datasea, Liu Zhixin, expressed her enthusiasm for the new partnership, saying, "Our alliance with Quanzhen Hulian symbolizes a pivotal milestone in our journey. It opens the door to new avenues of growth and reaffirms the market's recognition of our state-of-the-art 5G messaging recharge services."
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. Get real-time Datasea updates by following us on Social Media and our website. Datasea routinely posts important new information. Twitter @Dataseainc, https://twitter.com/Dataseainc; Website: 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. There cannot be any assurance of the amount of any orders that may be received under the agreement with Quanzhen Hulian Technology (Shenzhen) Co. Ltd. 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 Zhang
Telephone: +1(646) 866-7989
Email: Datasea@iecapitalusa.com
