DataSea Announces 5G Multimodal Communication Technology Service Agreement

New Agreement Expected to Fuel Revenue and with an Estimated Value of $30 Million

Datasea Inc., a Nevada incorporated digital technology corporation engaged in innovative business segments for intelligent acoustics and 5G multimodal communication technology in China announced that on February 2, 2024, Guozhong Times (Beijing) Technology Ltd., a subsidiary of the Chinese operating company contractually controlled by the Company, has entered into a Cooperation Agreement with Hangzhou Chongda Technology Co., Ltd. to increase the sales of 5G multimodal communication services in China.

Datasea CEO Zhixin Liu commented, “We are pleased to enter into this new collaboration as it will help to identify potential customers that need our 5G multimodal communication delivery services, and enable us to quickly roll out our unique platform to new customers. We believe that Datasea can capitalize on more opportunities of this nature to generate revenue and it is in line with our mission to become a leading provider of digital technology solutions as well as our unwavering commitment to the 5G multimodal communication market in China. At the same time, the company is negotiating with major potential clients of 5G multimodal communication services and expects to reach more agreements.”

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Under the Agreement, Chongda can purchase 5G multimodal communication delivery services over the course of the 12 months commencing on February 3, 2024, with an estimated total value of approximately US$ 30 million (approximately RMB 215 million).

Chongda, a leading provider of marketing services, offers high-quality mobile phone plans, prepaid fuel service plans, and prepaid electricity top up plans to tens of thousands of Chinese enterprises, e-commerce platforms and individuals. The Agreement between Guozhong Times and Chongda exemplifies that Guozhong Times is highly active in providing 5G multimodal communication services, data interfaces and a 5G multimodal communication platform for related services and management.

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The demand for 5G multimodal communication services in China is high and such demand is expected to continue to rise. Datasea recorded US $18.3 million in revenue from 5G multimodal communication related services in the first and second quarters of 2024 in aggregate, proving its ability to provide customers with efficient and top-notch services. This achievement underscores Datasea’s leading market positioning in delivering efficient and customized services to individual and enterprise users.

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