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
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SOURCE Datasea Inc.
