BEIJING, July 27, 2023 /PRNewswire/ — 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, Shuhai Information Technology Co., Ltd. (“Shuhai Beijing”), the Chinese operating company contractually controlled by the Company, along with its subsidiaries, have entered into cooperation agreements with three new clients, Qingdao Hongxin Times Network Technology Co. LTD (“Qingdao Hongxin”), Guangzhou Woshuai Auto Accessories Co., LTD (“Guangzhou Woshuai”) and Xiamen Tongjing Intelligent Technology Co. LTD (“Xiamen Tongjing”), to enhance 5G messaging top-up services for a wider range of clients in more industries for the Chinese market.
Under those agreements, Qingdao Hongxin, Guangzhou Woshuai and Xiamen Tongjing can purchase 5G message charge virtual recharge cards of various denominations from ¥10 to ¥500 RMB (from $1.38 to $69.4) within 12 months after the signing of the contract. Since the date of those agreements until the date of this announcement, Shuhai Beijing and its subsidiaries have provided 5G messaging top-up services worth approximately USD 0.73 million (RMB 5,259,393).
Qingdao Hongxin, Guangzhou Woshuai and Xiamen Tongjing serve different end customers in the fields of Internet, automotive supplies services and intelligent hardware, and their users are spread across multiple regions in China. In addition, Shuhai Beijing and its subsidiaries also provide those clients 5G messaging top-up plans, data interfaces, and a 5G messaging top-up payment platform for top-up services and related management.
“The continuous increase in the number of signed clients of our 5G top-up business shows that the demand for 5G messaging services in the Chinese market continues to increase”, said Datasea’s CEO, Zhixin Liu. “It also proves that Datasea’s ability to provide top-tier services to businesses at scale is a testament to its commitment to delivering efficient and customized recharge services to its clients.”
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 information, please visit: www.dataseainc.com. Datasea routinely posts important information on its website. Twitter @Dataseainc, https://twitter.com/Dataseainc;
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.
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