Datasea Signs an Approximately $4.4 Million Procurement Agreement to Supply 5G Messaging Services

BEIJING, Aug. 23, 2022 (GLOBE NEWSWIRE) -- Datasea Inc., (NASDAQ: DTSS) ("Datasea" or the "Company"), incorporated in Nevada on September 2014, is a digital technology corporation engaged in three converging and innovative business segments: 5G messaging, acoustic intelligence, and smart city technology in China. Today, the Company announced that Shuhai Jingwei (Shenzhen) Information Technology Co., Ltd. ("Shuhai Jingwei"), a subsidiary of the Chinese operating company contractually controlled by the Company, has entered into a procurement agreement with Shenzhen Huanchen Technology Co., Ltd. ("Huanchen”) to supply 5G messaging services.

As a result of continued success among 5G Messaging service providers and a great tracking record to enhance client acquisition and engagement workflows, Datasea’s large institutional client list keeps expanding.

Huanchen is a leading provider of information technology and smart traveling solutions to automate and streamline O2O vehicle services such as refuelling, parking, and car washing, and various value-added services such as prepayment and marketing, with a geographic focus on the Guangdong-Hong Kong-Macao Greater Bay Area, one of the most important and economically vibrant regions in China. In conjunction with the 5G messaging recharge payment agreement, Shuhai Jingwei will act as the supplier and provide: 1) 5G messaging recharge payment services of China Mobile, China Unicom, and China Telecom; 2) A technical interface as a transmission channel for fee settlement. The term of the agreement is twelve months, during which the service fee will be prepaid by Huanchen and the total purchase amount of the order will be RMB 30 million (approximately USD 4.4 million).

Commenting on today's announcement, Zhixin Liu, CEO of Datasea stated, “Datasea is defining what 5G messaging service is and revolutionizes the way enterprises interact with customers. We can provide services at scale without compromising the customization features for institutional clients like Huanchen. Datasea keeps making product improvements from the first iteration of 5G Messaging services to the latest with the customer needs on the top of our list, and we are excited to leverage Datasea’s advanced technology capability to put our full support behind 5G messaging services provided to the market. The cooperation is reflective of the growing popularity of 5G messaging marketing services across the nation and the momentum we’ve witnessed in the adoption of smarter marketing tools. With an anticipated upward trend in demand for effective marketing tools at an attractive rate, Datasea believes that it is primed to capitalize on the rapidly expanding 5G messaging markets.”

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" and similar statements. 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 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 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.

Investor and Media Contact:

International Elite Capital Inc. 
Annabelle Zhang
Telephone: +1(646) 866-7989