Datasea Receives Second Subsidy from the Harbin Municipal Government to Develop its Safe Campus Management System

Rhea-AI Summary

Datasea Inc. (NASDAQ: DTSS) has been awarded a subsidy of RMB 300,000 (approximately USD 43,000) from the Harbin Municipal Government to improve its Safe Campus Management System, part of the government’s “Eagle Plan” initiative aimed at fostering innovative technologies. This system enhances K-12 security through intelligent video and identity recognition, and now includes infrared temperature monitoring. The CEO expressed that this grant acknowledges their efforts in educational security technology and supports ongoing research and development.

Positive

• Awarded RMB 300,000 subsidy from Harbin Government to enhance Safe Campus Management System.
• Recognition of efforts in developing advanced security technology for K-12 education.
• Expansion of system features to include infrared temperature measurement for real-time monitoring.

Negative

• None.

NEW YORK, Aug. 10, 2020 (GLOBE NEWSWIRE) -- Datasea Inc. (NASDAQ: DTSS) (“Datasea” or the “Company”), a technology company engaged in providing smart security solutions and developing education-related technologies in China, announced today that it has been selected to receive a subsidy in the amount of RMB 300,000 (or approximately USD$43,000) from the Harbin Municipal Government to enhance and customize its Safe Campus Management System.

Harbin Municipal Government recently launched its “Eagle Plan” to provide additional funds to companies with innovative technologies for research and development purposes. Following the review process, the Company was selected to receive the government subsidy.

Datasea’s Safe Campus Management System was designed to address security problems at K-12 school campuses by providing intelligent video surveillance, dynamic video recognition, identity recognition management, and campus-intelligent management. The Company recently upgraded the system to include infrared temperature measurement for real-time body temperature monitoring in campus populations. With the subsidy, the Company plans to enhance its Safe Campus Management System.

“We view this subsidy grant as a recognition by the Harbin Government of our efforts in developing the Safe Campus Management System,” said Datasea Chairman and CEO, Ms. Liu Zhixin. “Our first subsidy, as part of the S&T Achievement Transformation Demonstration and Promotion Plan, offered financial support of our pilot projects for the schools in the Heilongjiang Province. We intend for this subsidy to continue our R&D efforts going forward.”

About Datasea Inc. 
Datasea is a technology company in China engaged in providing smart security solutions and developing education-related technologies. Datasea leverages its proprietary technologies, intellectual property, innovative products and market intelligence to provide comprehensive and optimized security solutions and education-related technologies to its clients. For additional company 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" and similar statements. 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 many of which are beyond Datasea's control, which may cause Datasea's actual results, performance or achievements (including, without limitation, the performance and related results of operations arising from Datasea’s contracts and products addressed in this press release), Datasea’s ability to maintain the Beijing or similar arrangements,  to receive the subject subsidy within the anticipated timeframe, to apply the subsidy to develop and enhance the Company’s current systems, 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 the law.

Investor Relations Contact:

Gateway Investor Relations
Matt Glover and John Yi
DTSS@gatewayir.com
949-574-3860

FAQ

What subsidy did Datasea Inc. receive from the Harbin Municipal Government?

Datasea Inc. received a subsidy of RMB 300,000 (approximately USD 43,000) to enhance its Safe Campus Management System.

How will Datasea use the subsidy awarded by the Harbin Government?

Datasea plans to use the subsidy to enhance the features of its Safe Campus Management System, particularly in developing intelligent security solutions.

What is the Safe Campus Management System by Datasea?

The Safe Campus Management System is designed to address security issues at K-12 schools, incorporating intelligent video surveillance and identity recognition management.

Which initiative is associated with the subsidy given to Datasea?

The subsidy is part of the Harbin Municipal Government's 'Eagle Plan,' which aims to support companies with innovative technologies.

What recent upgrades has Datasea made to its Safe Campus Management System?

Datasea upgraded its system to include infrared temperature measurement for real-time body temperature monitoring.