Datasea's Digital Technology Subsidiary Selected as Prospective Partner for Future Projects with Subsidiary of China Mobile

Rhea-AI Summary

Datasea Inc. (Nasdaq: DTSS) announced that its subsidiary, Heilongjiang Xunrui Technology, has been selected as a prospective partner by China Mobile Internet, a subsidiary of China Mobile. This selection allows Xunrui Technology to be considered for specific project cooperation contracts, leveraging Datasea's 5G-AI multimodal communication technologies. The partnership aims to promote joint development of communications and internet innovations, potentially contributing to Datasea's future revenue growth.

This selection is seen as a major milestone for Datasea, confirming its achievements in technological innovation and market expansion. It offers opportunities for growth in existing businesses, potentially broadening market channels and enhancing brand influence. China Mobile Internet, responsible for creating innovative communication products across China, chose Xunrui Technology for its professional R&D capabilities, customer expansion abilities, and proven performance in the 5G-AI multimodal communication technology industry.

Positive

• Selection as a prospective partner by China Mobile Internet, a subsidiary of one of the world's largest mobile operators
• Potential for future revenue growth through specific project collaborations
• Opportunity to broaden market channels and enhance brand influence
• Recognition of Datasea's technological innovation and market expansion achievements

Negative

• No specific project contracts signed yet, only selected as a prospective partner
• Actual revenue impact depends on future project selections and collaborations

The Prospective Partnership with a Subsidiary of China Mobile, one of the World's Largest Mobile Operator, Underscores DTSS' Achievements in 5G-AI Communications

BEIJING, Aug. 6, 2024 /PRNewswire/ -- Datasea Inc. (Nasdaq: DTSS) ("Datasea" or the "Company"), a digital technology company incorporated in Nevada, engaged in innovative businesses in high-tech intelligent acoustics in the United States, and 5G-Artificial Intelligence ("AI") multimodal communication technology in China, today announced that on July 17, 2024, the Company's wholly-owned subsidiary, Heilongjiang Xunrui Technology Co., Ltd. ("Xunrui Technology"), was selected by China Mobile Internet Co., Ltd. ("China Mobile Internet") as a prospective partner in its database of companies (the "Partner Database"), that may be chosen to sign specific project cooperation contracts. China Mobile Internet is a subsidiary of China Mobile, one of the world's largest mobile operator and the largest wireless carrier in China.

According to the announcement released on July 8, 2024 by China Mobile Internet regarding choosing prospective partners for the Database, Xunrui Technology will now be able to be selected to undertake specific projects for China Mobile Internet, leveraging the development and application of Datasea's advanced 5G-AI multimodal communication technologies. This collaboration aims to promote the joint development of communications and internet innovations, and has the potential to contribute to future revenue growth for Datasea.

Ms. Liu Zhixin, CEO of Datasea, commented, "Our selection as a prospective partner of a China Mobile core subsidiary is a major milestone in our corporate development and a confirmation of our achievements in technological innovation and market expansion. We believe that this opportunity for collaboration will provide new possibilities for growth of our existing businesses, which may enable Xunrui Technology to further broaden its market channels, enhance brand influence, and offer higher quality products and services to a wider range of customers."

As a specialized subsidiary of China Mobile, China Mobile Internet is responsible for creating CHBN ("Customer", "Home", "Business" and "New" markets) innovative communication and internet products throughout China. Through its Database, China Mobile Internet selects enterprises to partner with that have project integration capabilities, platform integration capabilities, rapid development capabilities and rapid delivery capabilities.

Xunrui Technology, Datasea's subsidiary, with its professional R&D capabilities, customer expansion capabilities, and proven performance in the 5G-AI multimodal communication technology industry, passed the rigorous review of China Mobile Internet. and officially became a member of its Partner Database. This means that Xunrui Technology will have the opportunity to collaborate with China Mobile Internet on specific projects in the future, jointly promoting the development and application of cutting-edge technologies such as 5G, AI, and multimodal communication.

Mr. Li, the head of the CHBN project at China Mobile Internet, stated, "We are very excited to establish this relationship with Datasea. Datasea's project integration capabilities, platform integration capabilities, rapid development capabilities, and rapid delivery capabilities in 5G communication and the internet have genuinely impressed us, especially its AI-based 5G multimodal platform, which has the potential to further enhance the product value, service capability, operational capability, and innovation capability of CHBN innovative products. We look forward to specific collaborations with Datasea on a number of innovative projects."

About Datasea Inc.

Datasea Inc. ("Datasea") is a leading provider of products, services, and solutions for enterprise and retail customers in its innovative industries, Acoustics and 5G-AI multimodal communication, especially focusing on ultrasonic, infrasound and directional sound technology. The Company's advanced R&D technology serves as the core infrastructure and backbone for its products. Its 5G multimodal communication segment operates on a cloud platform based on AI. Datasea leverages cutting-edge technologies, precision manufacturing in its Acoustics business, utilizing ultrasonic sterilization to combat viruses and prevent human infections, and is also developing innovations in directional sound and medical ultrasonic cosmetology. In July 2023, Datasea established a wholly-owned subsidiary, Datasea Acoustics LLC, in Delaware, in a strategic move to mark its global presence. This underlies Datasea's commitment to Acoustics hi-tech and its intent to offer leading edge acoustic products and solutions to the U.S. market. For additional 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," "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 Contacts: 

Datasea Investor Relations
Email:    investorrelations@shuhaixinxi.com
              sunhezhi@shuhaixinxi.com 

Precept Investor Relations LLC
David Rudnick
+1 646-694-8538
david.rudnick@preceptir.com

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SOURCE Datasea Inc.

FAQ

What is the significance of Datasea's subsidiary being selected by China Mobile Internet?

Datasea's subsidiary, Xunrui Technology, being selected as a prospective partner by China Mobile Internet is significant as it allows the company to be considered for specific project cooperation contracts. This partnership could lead to future revenue growth and expanded market opportunities for Datasea in the 5G-AI multimodal communication technology sector.

How might this partnership affect Datasea's (DTSS) stock performance?

While the partnership's potential is promising, its direct impact on Datasea's (DTSS) stock performance is yet to be determined. The selection as a prospective partner could positively influence investor sentiment, but actual stock performance will likely depend on the materialization of specific projects and their financial outcomes.

What technologies does Datasea (DTSS) specialize in that attracted China Mobile Internet?

Datasea (DTSS) specializes in 5G-AI multimodal communication technologies. China Mobile Internet was particularly impressed by Datasea's AI-based 5G multimodal platform, which has the potential to enhance product value, service capability, operational capability, and innovation in CHBN (Customer, Home, Business, and New markets) innovative products.

When was Datasea's subsidiary selected for China Mobile Internet's Partner Database?

Datasea's subsidiary, Heilongjiang Xunrui Technology, was selected for China Mobile Internet's Partner Database on July 17, 2024, following an announcement by China Mobile Internet on July 8, 2024, regarding the selection of prospective partners.