Datasea Engages ESGreen to Advance Commitment to Environmental, Social and Governance Initiatives 

BEIJING, Nov. 16, 2022 (GLOBE NEWSWIRE) -- Datasea Inc., (NASDAQ: DTSS) ("Datasea" or the "Company"), incorporated in Nevada in 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 it has engaged ESGreen with a shared goal to build a robust environmental, social and governance (“ESG”) program, which helps Datasea identify and mitigate risks, seize opportunities and engage stakeholders, create better experiences for employees, customers, suppliers, partners, and communities and eventually evolve to a sustainable, future-proof enterprise.

ESGreen brings together seasoned ESG experts and senior management teams with two decades of experience working in the global financial service firms including S&P Global, Morgan Stanley, and JP Morgan to help companies make concerted efforts to embed sustainability in the business operation. ESGreen aims to provide the best global ESG practices and carbon reduction solutions to Chinese institutions. Whatever level of maturity in ESG, ESGreen enhances companies’ approach by identifying and reducing risks, generating long-term value, and creating positive social impact.

Over the coming months, with support from ESGreen, Datasea plans to implement a comprehensive ESG plan that focuses on stakeholders, including employees, clients and communities served by Datasea. The plan will include the collection, assessment and enhancement of current ESG data, identification of material ESG factors, establishment of integrated ESG targets, research on gaps and policy updates, as well as increasing ESG disclosure.

Commenting on today's announcement, Zhixin Liu, CEO of Datasea, stated, “Businesses today must understand and empathize with sustainability and recognize the imperative for innovation across the business model in the transition to a low-carbon economy. We are pleased to engage ESGreen and commit to continually improving our ESG performance, which we believe links to value creation in essential ways such as building business resilience, attracting talent, improving customer loyalty, and caring for the environment. The Company believes that taking a proactive approach in terms of ESG management will not only provides the Company with solid operation guideline, but also demonstrate our value in sustainability and long-term development: doing well by doing good.”

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" 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.

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