Datasea Signs its First Agreement in Beijing, China to Install its Proprietary Monitoring System
Datasea Inc. (NASDAQ: DTSS) has signed a three-year agreement with Beijing Tengyuejunjie Parking Management to install its proprietary Control System in a residential community in Chaoyang District, Beijing. The contract is valued at approximately $7,800 (RMB 55,000) and represents the company's first engagement of this nature in the capital. The system, designed for monitoring public health threats, includes features such as contactless body temperature measurement and AI-based facial recognition. This expansion reflects Datasea's aim to capture more of Beijing's 21 million residents.
- Datasea's contract for $7,800 marks its first engagement in Beijing, a significant milestone.
- The proprietary system enhances public health monitoring, increasing potential demand.
- Expansion into a densely populated area demonstrates growth potential for Datasea.
- None.
NEW YORK, Aug. 03, 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, has entered into an agreement with Beijing Tengyuejunjie Parking Management (“BTPM”) to install its proprietary and Control System in Nantaipingzhuang Beixiang, a residential community in the Chaoyang District of Beijing. The total value of this engagement over the three-year term of this engagement is RMB [55,000] or approximately $[7,800]; this engagement will be the first-of-its-kind arrangement for the Company in Beijing.
Datasea’s proprietary system was developed specifically to monitor potential public healthcare threats within schools and public communities. The system facilitates contactless body temperature measurement and uses artificial intelligence-based face recognition technology, automatically identifying individuals at the community’s ingress and egress access points, thus allowing BTPM to monitor activity and receive real-time feedback in that community.
Under the terms of this arrangement, Datasea will provide the hardware, software, and the installation services to Nantaipingzhuang Beixiang, a community with more than 1,200 homes and 4,000 residents.
“We are encouraged to see our domestic footprint expand into Beijing,” said Datasea Chairman and CEO, Ms. Liu Zhixin. “As the capital of China, Beijing has a population of over 21 million residents and more than 6,000 residential communities. Our long-term growth strategy is to capture as much of this densely populated part of China as possible. Our team has been hard at work in developing our proprietary technology, and we are proud to see it yield positive results.”
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 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
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