Datasea Inc - DTSS STOCK NEWS

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.

Datasea (NASDAQ: DTSS) has successfully closed a $2.25 million registered direct offering, selling 692,308 shares of common stock at $3.25 per share. The proceeds will be used for research and development, market development, and general corporate purposes. EF Hutton acted as the exclusive placement agent for the offering. The securities were offered under a shelf registration statement on Form S-3, effective as of July 21, 2023. Additional information can be found on the SEC's website.

Datasea (NASDAQ: DTSS) has entered into a share purchase agreement with an institutional investor to raise $2.25 million through a registered direct offering. The company will issue 692,308 shares of its common stock at $3.25 per share. The offering is anticipated to close by July 3, 2024, contingent on customary closing conditions. Proceeds will be allocated to research and development, market expansion, and general corporate purposes. EF Hutton is the exclusive placement agent for this transaction. Further details will be available in the final prospectus supplement on the SEC's website.

Datasea has announced three significant sales agreements totaling $61.7 million, aimed at boosting revenue for fiscal year 2025. The deals involve two agreements in the 5G AI communications segment and one in high-tech acoustic products. The first two agreements, signed with Shenzhen Juhaowan Technology and Shenzhen Yuzhongqing Technology, are valued at up to $30 million each, for 5G multimodal communication delivery services. The third agreement, with Tianjin Qianli Culture Communication, is valued at $1.7 million for the supply of approximately 20,000 units of high-tech acoustic products by December 31, 2024. CEO Liu Zhixin highlighted the growing traction of their 5G AI and acoustic product lines in the marketplace.

Datasea (NASDAQ: DTSS) announced a Cooperation Agreement between its Chinese entity, Shuhai Information Technology, and Beijing Haoteng Chuangxiang Technology. This Agreement aims to enhance Datasea's 5G AI multimodal business in China. The partnership began on May 11, 2024, and has already generated approximately $2.8 million in the first ten days, with a projected revenue of $86 million for the fiscal year. The Agreement allows Shuhai Information to utilize its 5G AI platform to deliver targeted advertising and market promotion services for Haoteng Chuangxiang. Datasea aims to leverage this strategic partnership to secure more lucrative contracts and strengthen its market position in high-tech intelligent acoustics and 5G AI communication technology.

Datasea Inc. (NASDAQ: DTSS) pre-announced estimated revenue of $12.5 million for April 2024, supporting its revenue guidance of $86 million for fiscal 2024, reflecting a 1,128% year-over-year increase. The Company serves over 48 million enterprises and users in China with 5G-AI multimodal communication technology, leading to a strong revenue projection. Datasea's core products include acoustic solutions for clean environments and ultrasonic sleep aids, with plans to expand its market reach in the US.

Datasea Inc. (NASDAQ: DTSS) and iPower Inc. (NASDAQ: IPW) have entered into a Framework Agreement for Product Cooperation to expand product distribution in the US online market. This collaboration aims to leverage Datasea's digital technology expertise and iPower's ecommerce platform to offer cutting-edge products to US consumers.

Datasea Inc. (Nasdaq: DTSS) secures a combined $15 million through its second sales contract for acoustic products. The company's subsidiary, Shuhai Jingwei, signed an agreement with Fubo Zhonglian Technology for the sale of up to $6.91 million of acoustic high tech products. This deal follows a previous agreement worth $8.45 million with Shenzhen Xiaoranfang Marketing Co., The collaboration aims to drive sales of Datasea's innovative acoustic products, including the 'Hailijia' and 'Star Dream' series. Fubo Zhonglian Technology plans to promote and sell these products through various ecommerce channels, leveraging digital human sales, livestreaming, and online purchasing agents. The agreement highlights the market demand for Datasea's advanced acoustic products, positioning the company for growth and success.

Datasea Inc. (DTSS) announces that CEO Ms. Zhixin Liu plans to purchase up to $3,000,000 of the company's common stock over the next 12 months. Ms. Zhixin Liu currently holds a 25.08% ownership position of the company's shares and believes the stock is undervalued. The purchases will be made on the open market at prevailing prices. The CEO expresses confidence in the company's strategic plan and growth prospects.