Business
Datasea Reports Fourth Quarter and Fiscal Year 2020 Results
NEW YORK, Sept. 28, 2020 (GLOBE NEWSWIRE) -- Datasea Inc. (NASDAQ: DTSS) (“Datasea” or the “Company”), a technology company engaged in providing smart
About this update from Datasea Intelligent Technology Ltd.
[{"type":"text","content":"NEW YORK, Sept. 28, 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, reported results for the fiscal fourth quarter and full year ended June 30, 2020.\n Fiscal Fourth Quarter 2020 and Recent Operational Highlights: Signed two agreements with Beijing Hangteng Property Management and Jinghua Granary International Trade Co., respectively, for the Company’s Public Community Security System, and two agreements with Beijing Xuanwu Hongqi Spare-time University and Nanjing Normal University Subsidiary Primary School, respectively, for the Company’s Safe Campus Management System.Entered into six service agreements involving the Company’s Smart Information Service System with Shenzhen Linghang Haocheng Education Technology Co., an education training company, Shenzhen Weisou Technology Co., an application operator, and four gas stations in Shenzen and Shanwei, all located on the Guangdong province.Expanded the Company’s marketing efforts by entering into a Cooperation Framework Agreement with China Africa Friendship Town Investment Group Limited to establish a general framework and promote Datasea’s products across several countries in Africa.Received a second subsidy from the Harbin Municipal Government to enhance and customize the Company’s Safe Campus Management System.Signed an agreement with Beijing Tengyuejunjie Parking Management to install the Company’s proprietary Public Community Security System in Nantaipingzhuang Beixiang, the first-of-its-kind arrangement in Beijing.Selected by the Harbin Municipal Government of Heilongjiang Province to conduct pilot projects of the Company’s Safe Campus Management System at two new school campuses, in addition to receiving a $113,000 USD subsidy from the Harbin Municipal Government.Secured 33 purchase orders for Datasea’s customized hardware and proprietary software solutions that are being utilized in public spaces on campuses, shopping malls, scenic areas, residential areas, and factories, with cash inflow from customers in full amount. Management Commentary “Over the past few months, we have been able to gain momentum as a result of our diversified customer base and growing portfolio of robust product offerings, which has generated pos...