Datasea Announces a $14.99 Million Procurement Agreement to Supply 5G Messaging Services
Datasea Inc. (NASDAQ: DTSS) has announced a procurement agreement through its subsidiary Shuhai Jingwei with Zhangzhou Baina Intelligent Technology Co., Ltd. The agreement, valued at approximately USD 14.99 million, focuses on providing 5G messaging services to enhance customer interactions and operational efficiency in smart city solutions. It encompasses messaging recharge payment services and other telecommunications value-added services. The term of the agreement is set for six months, reflecting Datasea's commitment to advance innovative communication in smart technology.
- Procurement agreement with Baina valued at approximately USD 14.99 million, enhancing revenue potential.
- 5G messaging services expected to improve customer interaction and operational efficiency for Baina.
- Demonstrates Datasea's capabilities in implementing advanced technology solutions for smart cities.
- None.
BEIJING, China, June 06, 2022 (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 smart city technology in China. Today, the Company announced that Shuhai Jingwei (Shenzhen) Information Technology Co., Ltd. ("Shuhai Jingwei"), a subsidiary of the Chinese operating company contractually controlled by the Company, has entered into a procurement agreement with Zhangzhou Baina Intelligent Technology Co., Ltd. ("Baina”). The agreement demonstrates Datasea’s capability to provide rich messaging experiences through 5G at scale and revolutionize the way enterprises interact with customers.
Baina is a leading provider of the smart city technology services to streamline and automate processes and help in real-time decisions. There are many ways to conceptualize a smart city and Baina specializes in smart transportation with charging pile management and smart healthcare solutions. Datasea assists Baina to evolve in the next phase of customer communication and address emerging demands for advanced features such as fee settlement and service introduction in Baina’s different service scenarios. In conjunction with the 5G messaging recharge payment agreement, Shuhai Jingwei will act as the supplier and provide: 1)5G messaging recharge payment services of China Mobile, China Unicom, and China Telecom; 2) A technical interface as a transmission channel for fee settlement; 3) 5G short messages and telecommunication value-added services for Baina and its partners and clients. The term of the agreement is six months, during which the service fee will be prepaid by Baina and the total purchase amount will be approximately USD 14.99 million (RMB 100,000,000).
"We are defining what 5G messaging service is and bring multimedia messaging and application-to-person experiences to enterprise client like Baina. When Baina manages tens of thousands of charging piles and handles surging demands for services, our 5G messaging and value-added services will ensure user experience while improving operational efficiency. We look forward to the partnership and opportunities to leverage our expertise and relationships to expand Baina’s customer reach," said Zhixin Liu, CEO of Datasea. “Datasea's mission is to explore the new possibilities of 5G messaging technology, implement future communication solutions and thus lead towards a more connected digital dimension. The solutions are discovered by smoothly combining telecommunications, software, information networks into functional entities to serve clients’ communication needs. Now, together with Baina, we can build services so that they include state-of-the-art 5G messaging solutions in the daily customer interaction. ”
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 company information, please visit: www.dataseainc.com. Datasea routinely posts important information on its website.
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:
International Elite Capital Inc.
Annabelle Zhang
Telephone: +1(646) 866-7989
Email: Datasea@iecapitalusa.com
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