Business
Datasea Enters into New Sales Agreements for its 5G AI Communications and High Tech Acoustic Segments Expecting $62 Million in Sales
The Three Agreements Support Continued Fiscal Year 2025 Revenue Growth for its Core AI-Based Businesses BEIJING, July 1, 2024 /PRNewswire/ -- Datasea Inc.
About this update from Datasea Intelligent Technology Ltd.
[{"type":"text","content":"The Three Agreements Support Continued Fiscal Year 2025 Revenue Growth for its Core AI-Based Businesses\nBEIJING, July 1, 2024 /PRNewswire/ -- Datasea Inc. (NASDAQ: DTSS) (\"Datasea\" or the \"Company\"), a Nevada corporation engaged in innovative businesses in high-tech intelligent acoustics and 5G-Artificial Intelligence (\"AI\") multimodal communication technology in the United States and China, today announced three new sales agreements with its subsidiaries in China. If the parties to these agreements that total approximately $61.7 million that encompass two agreements for its 5G-AI communications segment, and one agreement for its high tech acoustic products segment.\n\n \n \n \n \n \n \n\n \nMs. Liu Zhixin, CEO of Datasea, commented, \"We are pleased to enter into the new agreements as they are expected to increase new customer orders for both our 5G AI communications and acoustics products segments. We believe that both of our businesses are beginning to gain excellent traction due to their high value in the 5G communications and healthy living marketplaces. In addition, we are confident that the two segments' core AI functionality will drive further technological innovation and increased market share.\"\nDatasea's three new sales agreements are as follows:\nOn May 15, 2024, the Company's Guozhong Haoze subsidiary signed a 5G AI Multimodal Communication Agreement with Shenzhen Juhaowan Technology Co., Ltd. (\"Juhaowan\"), an online lifestyle services and application service provider. According to the agreement, Juhaowan can purchase 5G multimodal communication delivery services from Guozhong Haoze over the course of 12 months that have an estimated total value of up to $30 million.On May 13, 2024, the Company's Heilongjiang Xunrui subsidiary signed a 5G AI Multimodal Communication Agreement with Shenzhen Yuzhongqing Technology Co., Ltd. (\"Yuzhongqing \"), a firm primarily engaged in internet and related services. According to the agreement, Yuzhongqing can purchase 5G multimodal communication delivery services from Heilongjiang Xunrui over the course of 12 months that have an estimated total value of up to $30 million.On June 8, 2024, the Company's Shuhai Jingwei subsidiary entered into an Acoustic Products Sales Agreement with Tianjin Qianli Culture Communication Co., Ltd. (\"Qianli Culture\"), an internet promotion an...