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BEIJING, Nov. 19, 2024 /PRNewswire/ -- Datasea Inc. (Nasdaq: DTSS) ("Datasea" or the "Company"), a Nevada-registered digital technology company focused on innovations in acoustic high-tech and 5G AI multimodal digital technologies, today pre-announced that its revenue for the fiscal year ending June 30, 2025, is expected to be approximately $90.0 million. This represents an increase of $66.0 million, or 275.0%, compared to full-year revenue of $24.0 million in fiscal year 2024.
As of October 31, 2024, Datasea achieved approximately $31.7 million in revenue for the first four months of fiscal 2025, which comprises previously disclosed first quarter revenue of $21.1 million and today's announcement of revenue of $10.6 million generated in October 2024.
Datasea CEO Ms. Zhixin Liu commented, "Our preannouncement of $90 million in revenue for fiscal 2025 is primarily due to strong results that we expect from our 5G digital applications business. This segment has exhibited robust growth for the first four months of fiscal 2025 driven by a series of large contracts, and we anticipate that this momentum will continue. As we penetrate additional verticals and continue to expand our footprint geographically, we believe that operating synergies will emerge that will rationalize our new business efforts and create improved operating profit."
Ms. Liu continued, "We are also pleased to see progress in our acoustic high-tech business, whose clean air products are designed to create healthy and safe living environments. With our ongoing marketing and sales initiatives, these high-margin acoustic high-tech products are positioned across a spectrum of marketing and sales platforms where we expect to see sustained positive results."
"Our two business segments are supported by core AI-driven technologies that we believe confer a competitive advantage in their respective market segments. We are confident that the financial results of our businesses with their distinct sources of revenue will create long-term value for our shareholders," CEO Zhixin Liu concluded.
About Datasea Inc.
Datasea Inc. ("Datasea") is a leading provider of products, services, and solutions for enterprise and retail customers in two innovative industries, acoustic high tech and 5G-AI multimodal digitalization. The Company's advanced R&D technology serves as the core infrastructure and backbone for its products. Its 5G multimodal digital segment operates on a cloud platform based on AI. Datasea leverages cutting-edge technologies, precision manufacturing, and ultrasonic, infrasound and directional sound technology in its acoustics business to combat viruses and prevent human infections, and it is also developing applications in medical ultrasonic cosmetology. In July 2023, Datasea established a wholly-owned subsidiary, Datasea Acoustics LLC, in Delaware, in a strategic move to enter the U.S. markets and to mark its global expansion plan. 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 SEC, 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 Investor Relations
Email: investorrelations@shuhaixinxi.com
sunhezhi@shuhaixinxi.com
Precept Investor Relations LLC
David Rudnick
+1 646-694-8538
david.rudnick@preceptir.com
