Datasea Enters into an Approximately $20.5 Million Sales Agreement with an Online Distributor for the Supply of Hailijia Air Purifiers

BEIJING, Oct. 27, 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 sales agreement with Shanghai Chengming Shengyuan Biotechnology Co., Ltd. (“Chengming Shengyuan”) to provide Hailijia air purifiers. The agreement sets forth the terms for the purchase of no less than 100,000 units of Hailijia air purifiers with the purchase value of no less than RMB 150 million (approximately USD 20.5 million) from November 2022 to November 2023. Chengming Shengyuan will promote and distribute Hailijia air purifiers mainly through e-commerce platform.

Datasea’s air purifier features innovative acoustic intelligence powered disinfection that has proven to be able to reduce bacteria and viruses without human contact, peculiar odor, or environmental damage. Under the brand Hailijia, Datasea has developed five models including in-vehicle sterilization and deodorization device, restroom sterilization and deodorization device, air disinfection device, and air disinfection and sterilization device to respond to a wide range of market needs. Air purifiers have gained greater urgency because of the global coronavirus pandemic and the need for sterilization has likely become a permanent way of life for many and will likely continue into common.

Commenting on today's announcement, Zhixin Liu, CEO of Datasea stated, “The sales agreement represents a successful outcome of Datasea’s strategy to unlock the full, long-term commercial value of our technologically advanced air purifiers. Datasea’s acoustic intelligence has been integrated into various business lines that are well-positioned for continued success as they pursue their individual strategic priorities. Starting with Hailijia air purifiers, acoustic intelligence powered products will provide the Company revenue generating opportunities, promotes and extends the Company’s brand deeper into the market.”  

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: 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 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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