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BEIJING, Aug. 29, 2023 /PRNewswire/ -- Datasea Inc., (NASDAQ: DTSS) ("Datasea" or the "Company"), a digital technology corporation engaged in converging and innovative business segment for intelligent acoustics technology in China today announced that Shuhai Information Technology Co., Ltd. ("Shuhai Information "), the Chinese operating company contractually controlled by the Company, has entered a sales performance and Equity Adjustment Agreement with a top-tier partner possessing industry product sales capabilities. This alliance is slated for the upcoming launch of its non-contact Intelligent Acoustic Skin Repair Robot. Alongside this partnership, Shuhai Information is also launching a 100% owned subsidiary to exclusively market the new intelligent acoustics medical cosmetology and medical health product. This marks an important evolution in the company's acoustic technology journey.
The Partnership
This partnership aims to synergize Datasea Inc.'s expertise in acoustic technology with the partner's robust capabilities in sales, marketing, and market operations, specifically in the beauty industry. The agreement outlines various milestones for unlocking equity in this groundbreaking venture. For instance, should the new venture achieve an operating revenue of RMB 500 million yuan within the first fiscal year, the partnering firm will become eligible for an equity transfer of 5% for the new subsidiary.
An Important Evolution
"Following the success of our ultrasonic sterilization devices, which have proven extremely effective at eliminating viruses and bacteria, we're entering an important new phase with this partnership and the creation of our wholly-owned subsidiary," said Ms. Zhixin Liu, CEO of Datasea Inc.
A Vision for the Future
Ms. Zhixin Liu, CEO of Datasea Inc., added, "This strategic alliance and our new subsidiary represent a significant step forward for us. By combining our revolutionary acoustic technology with the partner's sales and marketing expertise, we are poised to redefine the non-contact beauty treatment sector and elevate personal care standards. The potential for acoustic technology is limitless"
The partnership takes effect from July 1, 2023, with the aim of creating a global market presence for the non-contact Intelligent Acoustic Skin Repair Robot.
About Datasea Inc.
Datasea Inc., was incorporated in Nevada on September 2014 and listed on the NASDAQ Capital Market on December 21, 2018 under the symbol DTSS. Datasea is a leading provider of products, services, and solutions for enterprise and retail customers in a converging and innovative industry, Intelligent Acoustics, especially focusing on ultrasonic, infrasound and directional sound technology. Datasea leverages cutting-edge technologies in the realm of intelligent acoustics, especially harnessing the power of ultrasonic sterilization to combat viruses and prevent human infections. Alongside this, the company delves into innovations in directional sound and medical ultrasonic cosmetology. With a diverse product lineup, Datasea is devoted to enhancing the quality of life using sound-based solutions. In a strategic move to mark its presence in the global arena, Datasea established a wholly-owned subsidiary, Datasea Acoustics LLC, in Delaware, USA, on July 31, 2023. This venture underlines Datasea's dedication to "Intelligent Acoustics" and marks its ambition to offer avant-garde antiviral acoustic solutions at ultrasonic disinfection and sterilization, ultrasonic cosmetology, acoustic medical care, and acoustic agriculture to the US and international market, reaching an ever-growing consumer audience. Simultaneously, the establishment of production, assembly, and sales channels, coupled with the reinforcement of technological enhancements and collaborations with international technology laboratories, augments the prospects for the enduring progress of Datasea Acoustics LLC. For additional information, please visit: www.dataseainc.com. Datasea routinely posts important information on its website. Twitter @Dataseainc, https://twitter.com/Dataseainc.
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 Contact:
Datasea Inc. Investor relations
Email: investorrelations@shuhaixinxi.com
