MIL-OSI: Datasea Enters into a $4.67 Million Procurement Contract to Provide Short Message and 5G Multimedia Message Services

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Source: GlobeNewswire (MIL-OSI)

BEIJING, Oct. 18, 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 company named Shuhai Zhangxun Information Technology Co., Ltd. (“Shuhai Zhangxun”) had signed a $4.67 million procurement contract (the “Contract”) for Short Message and 5G Multimedia Message Services (“Messaging Services”) with Jiangxi Zhouwang Network Technology Co., Ltd. (“Jiangxi Zhouwang”).

Pursuant to the Contract, Shuhai Zhangxun will help Jiangxi Zhouwang reach its clients and provide value-added telecommunication Messaging Services. The Messaging Services include but are not limited to granting Jiangxi Zhouwang 1) access to Shuhai Zhangxun’s Short Message and 5G Multimedia Message platforms; 2) an access code issued by the Ministry of Industry and Information Technology to adopt the above services, and 3) the telecommunication gateways of the three major Chinese mobile operators to allow data to flow from one discrete network to another. Jiangxi Zhouwang undertakes the total purchase value of this engagement would be no less than RMB 30 million (approximately USD 4.67 million). The term of the Contract is one year. The service fees under the Contract shall commence when Jiangxi Zhouwang starts to adopt Shuhai Zhangxun’s Short Message and 5G Multimedia Message services. The billing cycle under the Contract is one calendar month, and Jiangxi Zhouwang will be invoiced monthly.

“Our 5G messaging business strategy and the work that we have done in the past year have led to phenomenal business results, strengthened our core business, and positioned Datasea for long-term sustainable growth,” said Zhixin Liu, CEO of Datasea. “Datasea team is incredibly excited to be working with Jiangxi Zhouwang and helping them in taking hands-on messaging technology to new heights with our solutions.”

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.

Datasea investor and media Contact:
International Elite Capital Inc.
Vicky Chueng
Telephone: +1(646) 866-7989
Email: datasea@iecapitalusa.com

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