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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Datasea Inc.    DTSS

DATASEA INC.

(DTSS)
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Datasea Receives 31 Purchase Orders for Epidemic Prevention and Control Systems from Public Places Entities in Mingguang City

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04/01/2020 | 08:31am EDT

NEW YORK, April 01, 2020 (GLOBE NEWSWIRE) -- Datasea Inc. (NASDAQ: DTSS), a technology company engaged in providing smart security solutions and developing education-related technologies, today announced that its wholly-owned subsidiary, Guozhong Times (Beijing) Technology Ltd. (“Guozhong Times”), has received 31 purchase orders from 9 development and construction companies in Mingguang City for customized hardware and software solutions to slow the spread of COVID-19 in specific areas. As of March 31, 2020, Guozhong Times has received another 2 purchase orders from Dingyuan County and Fuding City respectively. Datasea’s systems sold in these orders will be utilized in 33 public places, including campuses, shopping malls, scenic areas, residential areas, and factory areas.

Mingguang, which is home to science and technology businesses, covers an area of 2,335 square kilometers located on the northeastern edge of Anhui Province, China. As of December 31, 2018, it has a total population of 644,000 and divided into 17 districts. At the same time, there were 80,536 students in 151 schools in Mingguang City. Among them, 147 schools are K-12 schools with 76,348 students.

Public places such as schools, malls, and factories are densely populated areas with more complicated security needs, especially when addressing the COVID-19 pandemic. As previously disclosed, Datasea’s systems are divided into the campus version and the community version, the batch of purchase orders are all for community version systems. Compared with the campus version, the community version has more customized functions, including attendance records, payroll statistics, real-time monitoring, and visual display of the management department. The value of a single purchase order ranges from $1,620 to $2,620 (RMB 11,500 to RMB 18,600). The total value of the 33 agreements is $84,000 (RMB 596,520). Pursuant to the purchase orders, customers shall pay the full amount within 15 days after the purchase order is signed. As of March 31, 2020, Guozhong Times has received $69,500 (RMB493,500).

“Datasea's primary goal is to use our technology and solutions to keep people safe. By saving time in measuring body temperature and checking masks, we believe our system can improve the work efficiency of community managers and provide a safer and more transparent environment for the public,” said Ms. Zhixin Liu, Chairman and CEO of Datasea. “With the effective control of the COVID-19 in domestic areas, the willingness of schools to resume classes and companies to resume work has become particularly strong, but these customers are also concerned about the recurrence of the virus, which is why they desire our system. We believe that Mingguang City represents a solid foothold for our initial revenue-generating contracts following our previously announced pilot contracts, and we expect to receive more purchase orders in Mingguang City and other cities over the next few months.”

About Datasea Inc.
Datasea is a technology company in China engaged in providing smart security solutions and developing education-related technologies. Datasea leverages its proprietary technologies, intellectual property, innovative products and market intelligence to provide comprehensive and optimized security solutions and education-related technologies to its clients. Datasea has been certified as one of the Zhongguancun High Tech Enterprises in recognition of its achievement in high technology products. Datasea's security and technology engineers and experts create, design, build and run various security systems and education technologies tailored to its clients' needs. Through its professional team and strong expertise in the industry, Datasea offers its clients a broad portfolio of security solutions, along with strategic advice and ongoing management of their security infrastructure, and digital education tools or programs. For additional company information, please visit: www.shuhaixinxi.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" and similar statements. 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 many of which are beyond Datasea's control, which may cause Datasea's actual results, performance or achievements (including, without limitation, the performance and related results of operations arising from Datasea’s contracts and products addressed in this press release) 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 the law.

IR contact:
Dragon Gate Investment Partners LLC
Tel: +1(646)-801-2803
Email: DTSS@dgipl.com

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© GlobeNewswire 2020
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Financials (USD)
Sales 2019 - - -
Net income 2019 -1,43 M - -
Net cash 2019 5,99 M - -
P/E ratio 2019 -22,6x
Yield 2019 -
Capitalization 43,1 M 43,1 M -
EV / Sales 2018 32 476x
EV / Sales 2019 -
Nbr of Employees 48
Free-Float 28,4%
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Zhi Xin Liu Chairman, President, CEO, Secretary & Treasurer
Jijin Zhang Chief Financial Officer
Fu Liu Director
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