Datasea Enters into Manufacturing Agreement to Accelerate Production and Deployment of its Hi-Tech Intelligent Acoustic Products
BEIJING, March 19, 2024 /PRNewswire/ -- Datasea Inc. (Nasdaq: DTSS) ("Datasea" or the "Company"), a digital technology company incorporated in Nevada, dedicated to innovative business in acoustic high tech and 5G-Artificial Intelligence multimodal communication technology in the United States and China, today announced that the Company's wholly-owned subsidiary, Shuhai Jingwei (Shenzhen) Information Technology Co., Ltd. ("Shuhai Jingwei") entered into a Manufacturing Cooperation Agreement (the "Agreement") with Broadway Precision Technology, Ltd. ("Broadway"), a wholly-owned subsidiary with factories in China, Thailand, Mexico and the US of Shanghai Yongli Belt Industry Co., Ltd ("Yongli") (300230.SZ), a company listed on the Shenzhen Stock Exchange. The Agreement marks an important step for Datasea in the production and deployment of its newly upgraded hi-tech intelligent acoustic deodorization and disinfection products.
Zhixin Liu, CEO of Datasea, commented, "We are very pleased to enter into the Agreement with Broadway as we believe it will accelerate the production and marketing of our hi-tech intelligent acoustic products while also supporting product orders currently under negotiation with major customers. We are confident in the market demand for our newly upgraded products and believe that this will lead to future corporate growth. As a global pioneer and developer of hi-tech acoustic intelligent products, Datasea's goal is to advance our proprietary acoustic intelligent solutions, expand our domestic and foreign markets, and provide customers with excellent products and services."
According to the Agreement, Broadway will provide injection molding and production services for the Company newly upgraded hi-tech intelligent deodorization and disinfection models. The manufacturing schedule of the company's products will be synchronized with our market and sales demands, facilitating ongoing negotiations with several key clients for product orders which we expect to sign in the near-term.
Datasea's newly upgraded intelligent deodorization and disinfection products are equipped with an ultrasonic core module featuring functions such as odor removal, powerful sterilization, air purification, and quiet operation for superior hygiene for both homes and offices. Broadway will use its most advanced production technology and high-quality materials to ensure that the quality of the Company's products achieves industry-leading standards. Functional testing of the new products, to include international safety certifications, will be immediately initiated upon production of the products to facilitate marketing and sales of its newly upgraded products in the U.S. and China.
For distribution of its newly upgraded hi-tech intelligent deodorization and disinfection products into the U.S. market, the Company has established partnerships with channel partners including Meglio Interiors LLC in Chamblee, Georgia, and it has entered into discussions with large customers such as hotels and schools. The distribution of the Company's newly upgraded hi-tech products into the China market will be launched through direct sales, distribution agents and livestreaming ecommerce.
Broadway is a wholly-owned subsidiary of Yongli. Broadway has production facilities in Shenzhen, Kaiping, Kunshan, Thailand and the US., with a total workforce of over 4,000 employees and more than 100 precision mold processing equipment and 700 plastic injection molding machines. Broadway is a contract manufacturer for international brands such as Philips, Sony (Japan), and Samsung (South Korea).
About Datasea Inc.
Datasea Inc. ("Datasea") is a leading provider of products, services, and solutions for enterprise and retail customers in its innovative industries, Acoustics and 5G-AI multimodal communication, 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 multimodal communication segment operates on a cloud platform based on AI. Datasea leverages cutting-edge technologies, precision manufacturing in its Acoustics business, 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 Acoustics hi-tech and its intent to offer leading edge acoustic products and solutions to the U.S. 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.
Investor and Media Contacts:
Datasea Investor Relations
Email: investorrelations@shuhaixinxi.com
sunhezhi@shuhaixinxi.com
Precept Investor Relations LLC
David Rudnick
+1 646-694-8538
david.rudnick@preceptir.com
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