BEIJING, Nov. 18, 2021 (GLOBE NEWSWIRE) — Datasea Inc. (NASDAQ: DTSS, the “Company”), a digital technology company engaged in three converging and innovative business segments: smart city, acoustic intelligence and 5G messaging in China, today announced that its wholly-owned subsidiary company named Hangzhou Shuhai Zhangxun Information Technology Co., Ltd. (“Shuhai Zhangxun”) had entered into a $378K procurement contract (the “Contract”) for Cloud Transformation Services (the “Cloud Services”) with China Mobile Communications Group Guangdong Co., Ltd. Guangzhou Branch (“China Mobile Guangzhou Branch”).
Pursuant to the Contract, Shuhai Zhangxun will provide software and hardware to China Mobile Guangzhou Branch’s client, Shenzhen Qikai Technology Co., Ltd. (“Shenzhen Qikai”), help Shenzhen Qikai migrate its property management system from local servers to the cloud and give necessary technical supports during the cooperation. The Cloud Services include the offerings of 1) cloud computing; 2) cloud database; 3) cloud network, which consists of flexible public network IP services; 4) data migration service; 5) cloud security services, which involves firewalls, vulnerability scanning and other services; and 6) video monitoring services. The term of the Contract is one year.
“Based on our 5G technologies, we can provide cloud-based enterprise solutions. 2021 is a seismic year for us as we tapped into the 5G Messaging market. It becomes clearer that it will be our fastest-growing revenue stream, and we expect that to be enduring,” said Zhixin Liu, CEO of Datasea. “At the same time, the synergistic effect among our three business units will be more apparent. Leveraging the Company’s proprietary technologies in smart security and big data, we’ll expand product coverage in Information and Communications Technology projects and 5G messaging-related fields. We are looking forward to helping more companies make great use of 5G technologies with our solutions and empower their business developments in the long run.”
About Datasea Inc.
Datasea Inc., through its variable interest entity, Shuhai Information Technology Co., Ltd., a digital technology company in China, engages in three converging and innovative industries: smart city, acoustic intelligence and 5G messaging. Datasea leverages facial recognition technology and other visual intelligence algorithms, combined with cutting-edge acoustic and non-visual intelligence algorithms, to provide smart city solutions that meet the security needs of residential communities, schools and commercial enterprises. Most recently, in response to the growing utilization of 5G technologies and the overall initiative to utilize Datasea’s technology capabilities to expand business coverage and revenue resources, Datasea has also strategically expanded business coverage to 5G messaging and smart payment solutions. 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.
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