The agreement is expected to generate up to approximately $20.8 million annually
BEIJING, Dec. 2, 2024 /PRNewswire/ -- Datasea Inc. (Nasdaq: DTSS) ("Datasea" or the "Company"), a Nevada digital technology company focused on innovations in acoustic high-tech and 5G AI multimodal digital technologies, today announced that, on November 23, 2024, the Company hosted a product promotion event for its acoustics high-tech products, named "5G AI: Unlocking the Future with Sound. In addition, during the event Datasea entered into a strategic sales agreement with Qingrong Digital Chain Technology Co., Ltd. ("Qingrong") for the sale of up to an aggregate of 300,000 units of the Company's acoustic high-tech products.
(PRNewsfoto/Datasea Inc.)
Ms. Zhixin Liu, CEO of Datasea, commented, "We are thrilled with the success of our promotion event and the new collaborations that it has fostered. Our acoustic products, supported by innovative technology and a user-centered design, have received strong recognition from the Tianjin government and the Tianjin Women Entrepreneurs Association. Further, the agreement with Qingrong, a key channel partner, represents a significant leap forward for our acoustics segment, and it lays the foundation for a broader market presence, growing product visibility, an increased revenue. The agreement is expected to generate up to approximately $20.8 million (approximately RMB 150 million) in sales annually over the next five years."
The "5G AI: Unlocking the Future with Sound" Promotion Event:
The large-scale promotion event, "5G AI: Unlocking the Future with Sound ", was held at the Haihai Building in the High-Tech Zone of Tianjin, and it showcased Datasea's latest advances in acoustic technology and the Company's 5G-AI multimodal platform. More than 200 industry leaders, channel distributors, and representatives from various associations participated, including the Tianjin High-Tech Zone Women's Federation and the Tianjin Women Entrepreneurs Association.
Key Highlights of the Event:
Product Innovation: Introduced Datasea's upgraded Acoustic air sterilizers and Sleep Aid products, along with the Company's 5G-AI multimodal application service platform, which mainly focus the needs of the beauty industry in China.
Strong Participation: Over 200 attendees and industry representatives attended, demonstrating strong interest in acoustics technology, with several entities expressing plans to actively expand their offline store channels with the Company's acoustics products.
Empowering Women Entrepreneurs: Collaboration with the Tianjin Women Entrepreneurs Association and the High-Tech Zone Women's Federation to promote women-led business ventures, reflecting Datasea's commitment to supporting diverse market opportunities.
Strategic Market Entry: The Company signed a strategic cooperation agreement with the Tianjin Women Entrepreneurs Association, providing support for the Company's efforts to drive sales of its products in Tianjin and the greater North China region.
Significant Sales Agreement: The Company signed a strategic sales agreement with Qingrong for up to an aggregate of 300,000 acoustic units, emphasizing Datasea's growing market demand and innovative product appeal.
The Sales Agreement with Qingrong
Under the strategic sales agreement with Qingrong, which has a term of five years, Qingrong plans to sell up to an aggregate of 300,000 units of Datasea's acoustic products annually, including air disinfection machines and sleep aids. These products, equipped with ultrasonic core modules, offer powerful sterilization, odor elimination, air purification, and sleep enhancement, suitable for both residential and commercial use. During the term of the agreement, Qingrong will resell these products through its extensive network of thousands of home decoration stores across China.
About Datasea Inc.
Datasea Inc. ("Datasea") is a leading provider of products, services, and solutions for enterprise and retail customers in converging and innovative industries, Acoustics High tech and 5G AI multimodal digital platform, 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 digital segment operates on a cloud platform based on AI. Datasea leverages cutting-edge technologies in intelligent acoustics, 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 High tech and its intent to offer leading edge acoustic solutions to the US market. For additional information, please visit: www.dataseainc.com.
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.
