The Month’s Robust Revenue from the 5G Business Segment is Expected to be Sustainable through Fiscal Year 2024
BEIJING, Oct. 30, 2023 /PRNewswire/ — Datasea Inc., (NASDAQ: DTSS) (“Datasea” or the “Company”), a Nevada incorporated digital technology corporation engaged in converging and innovative business segments for intelligent acoustics and 5G messaging technology in China, today announced that it recorded revenue of RMB 17.8 million (US $2.5 million) in the month of September 2023, attributable to three of its 5G business segment operating entities. The Company’s September 2023 5G messaging revenue was 12x greater than 5G messaging revenue in September 2022 which came in at RMB 0.15 million (US $0.02 million).
Datasea CEO, Ms. Zhixin Liu, commented, “Our 5G messaging business has recovered rapidly so far this year relative to somewhat discouraging results last year. We signed major contracts beginning in June 2023 that we think could create momentum for this business segment going forward.”
“We provide 5G messaging products to both corporate customers and household users that offers enhanced 5G capabilities in the Chinese market. The features of our messaging products include rich media, strong interactivity, excellent transmission quality and high security for an improved customer experience. As a leading service provide in China’s 5G communications field, we have unique and scalable products that enhance our market competitiveness and positions us for future growth,” Ms. Liu concluded.
Datasea’s 5G operating subsidiaries operate in various industry sectors, including chain retail, Internet and intelligent hardware. The Company serves a diverse and geographically dispersed customer base in China, offering clients comprehensive 5G messaging services, including multiple top-up plans, data interfaces, and a streamlined 5G messaging payment platform.
About Datasea Inc.
Datasea Inc. (“Datasea”) is a leading provider of products, services, and solutions for enterprise and retail customers in converging and innovative industries, Intelligent Acoustics and 5G messaging, especially focusing on ultrasonic, infrasound and directional sound technology. The Company’s advanced R&D technology serves as the core infrastructure and backbone for its products. Its 5G Messaging segment operates on a cloud platform based on AI. Datasea leverages cutting-edge technologies in intelligent acoustics, utilizing ultrasonic sterilization to combat viruses and prevent human infections, and is also developing innovations in directional sound and medical ultrasonic cosmetology. In July 2023, Datasea established a wholly-owned subsidiary, Datasea Acoustics LLC, in Delaware, in a strategic move to mark its global presence. This underlies Datasea’s commitment to Intelligent Acoustics and its intent to offer leading edge acoustic solutions to the US market. For additional information, please visit: www.dataseainc.com.
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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