Datasea Announces a $4.33 Million New Contract to Provide Short Message and 5G Multimedia Message Services

Rhea-AI Summary

Datasea Inc. (NASDAQ: DTSS) has announced a new agreement through its subsidiary, Shuhai Zhangxun, to provide Short Message and 5G Multimedia Message Services to Hubei Kuanyun Network Technology. The contract is valued at no less than RMB 28 million (approximately USD 4.33 million) over one year. The agreement enables Hubei Kuanyun access to Datasea's messaging platforms and telecommunications gateways, facilitating communication with clients and partners. CEO Zhixin Liu emphasized the company's commitment to enhancing its 5G messaging offerings to meet market demands.

Positive

• New agreement with Hubei Kuanyun valued at approximately USD 4.33 million.
• Access to Datasea's advanced messaging platforms enhances service delivery.
• Demonstrates recognition of Datasea's technology and product capabilities.

Negative

• None.

BEIJING, Sept. 13, 2021 (GLOBE NEWSWIRE) -- Datasea Inc. (NASDAQ: DTSS) ("Datasea"), a technology company that provides visual and non-visual based smart security solutions, 5G messaging products, and smart payment services in China, announced today that its wholly-owned subsidiary company named Shuhai Zhangxun Information Technology Co., Ltd. ("Shuhai Zhangxun") had entered into a short messages business sales cooperation agreement (the “Agreement”) to provide Short Message and 5G Multimedia Message Services ("Messaging Services") to Hubei Kuanyun Network Technology Co., Ltd. ("Hubei Kuanyun").

Under the Agreement, Shuhai Zhangxun will provide Messaging Services to help Hubei Kuanyun reach its clients, including suppliers, business partners, and customers. The Messaging Services include but are not limited to granting Hubei Kuanyun 1) access to Shuhai Zhangxun Short Message and 5G Multimedia Message platforms; 2) an access code issued by the Ministry of Industry and Information Technology to adopt the services, and 3) the telecommunications gateways of the three major Chinese mobile operators to allow data to flow from one discrete network to another. Hubei Kuanyun undertakes the total purchase value of this engagement would be no less than RMB 28 million (approximately USD 4.33 million). The term of the Agreement is one year. The service fees under the Agreement shall commence at the time when Hubei Kuanyun gains access to Shuhai Zhangxun Short Message and 5G Multimedia Message platforms and starts to use the services. The billing cycle under the Agreement is one calendar month and Hubei Kuanyun will be invoiced on a monthly basis.

"I'm very pleased to announce the new agreement with Hubei Kuanyun on 5G Multimedia Messaging Services. This cooperation demonstrates Datasea's ability to provide bulk messaging services and a growing market recognition in our technology advantages, products, and effective service delivery," said Zhixin Liu, CEO of Datasea. "We'll keep upgrading our 5G messaging products, applications scenarios, and pricing models with the advanced technology on hand and client-centric approach in mind. Datasea aims to be a trusted business partner for millions of small and medium-sized enterprises in China and be an industry leader in 5G messaging marketing and cloud business solutions."

About Datasea Inc.
Datasea Inc., through its variable interest entity, Shuhai Information Technology Co., Ltd., a technology company in China, provides visual and non-visual based smart security solutions, 5G messaging products and smart payment services. Datasea leverages its proprietary technologies, intellectual property, innovative products and market intelligence to provide comprehensive and optimized security solutions to its clients. 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.

Datasea investor and media Contact:
International Elite Capital Inc.
Annabelle Zhang
Telephone: +1(646) 866-7989
Email: Datasea@iecapitalusa.com

FAQ

What is the new agreement announced by Datasea (DTSS) on September 13, 2021?

Datasea announced a sales cooperation agreement to provide Short Message and 5G Multimedia Message Services to Hubei Kuanyun, valued at approximately USD 4.33 million.

How long is the agreement between Datasea and Hubei Kuanyun?

The agreement is set for a term of one year.

What services are included in the agreement between Datasea and Hubei Kuanyun?

The services include access to Shuhai Zhangxun’s messaging platforms and telecommunications gateways for effective client communication.

What is the estimated value of the agreement between Datasea and Hubei Kuanyun?

The total purchase value of the agreement is no less than RMB 28 million, approximately USD 4.33 million.

What are Datasea's plans regarding its 5G messaging products?

Datasea aims to upgrade its 5G messaging products and improve applications and pricing models.