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BEIJING, Sept. 23, 2021 (GLOBE NEWSWIRE) -- Datasea Inc. (NASDAQ: DTSS) ("Datasea"), a technology company that provides visual and non-visual based smart security solutions, 5G messaging products, and smart payment services in China, announced today that its wholly-owned subsidiary, Shuhai Zhangxun Information Technology Co., Ltd. ("Shuhai Zhangxun") had signed a $3.87 million procurement contract (the “Contract”) for Short Message and 5G Multimedia Message Services ("Messaging Services") with Liangzi Xuntong Technology Co., Ltd. ("Liangzi Xuntong").
Pursuant to the Contract, Shuhai Zhangxun will provide Messaging Services to help Liangzi Xuntong reach its clients. The Messaging Services include but are not limited to granting Liangzi Xuntong 1) access to Shuhai Zhangxun Short Message and 5G Multimedia Message platforms; 2) an access code issued by the Ministry of Industry and Information Technology to adopt the services, and 3) the telecommunications gateways of the three major Chinese mobile operators to allow data to flow from one discrete network to another. Liangzi Xuntong undertakes that the total purchase value of this engagement would be no less than RMB 25 million (approximately USD 3.87 million). The term of the Contract is one year, during which the service fees will be prepaid by Liangzi Xuntong on a monthly basis based on its estimated amount of messages to be sent and Shuhai Zhangxun will provide to Liangzi Xuntong an invoice listing the details of services and fees within the first five days of the next month.
"This procurement contract reflects our ongoing commitment to introduce our products to the market. Our performance has been strong year-to-date, and we have a very competitive product portfolio in 5G Messaging markets. To continue this momentum, we are working with distribution partners together to expand product availabilities while keeping delivering first-class services," said Zhixin Liu, CEO of Datasea.
About Datasea Inc.
Datasea Inc., through its variable interest entity, Shuhai Information Technology Co., Ltd., a technology company in China, provides visual and non-visual based smart security solutions, 5G messaging products and smart payment services. Datasea leverages its proprietary technologies, intellectual property, innovative products and market intelligence to provide comprehensive and optimized security solutions to its clients. 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: www.dataseainc.com. 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 www.sec.gov. 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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