BEIJING, China, March 28, 2022 (GLOBE NEWSWIRE) -- Datasea Inc., (NASDAQ: DTSS) ("Datasea" or the "Company"), incorporated in Nevada in September 2014, is a digital technology corporation engaged in three converging and innovative business segments: 5G messaging, acoustic intelligence, and smart city technology in China. Today, the Company announced that its subsidiary company named Shuhai Shengxiao Technology Co., Ltd. ("Shuhai Shengxiao") has entered into a three-year collaboration agreement with Guangdong Canbo Electrical Co., Ltd. ("Canbo"), a giant company in smart home household appliance. The collaboration will support the advancement of next-generation disinfection cabinet with the integration of Shuhai Shengxiao's innovative acoustic intelligence-enabled sterilization technology.
Canbo is the inventor of the world's first household disinfection bowl cabinet. According to Jingcanmo Data, by November 2021, Canbo has captured a dominant share of the disinfection cabinet market and accounted for nearly 40% of all online disinfection cabinet sales in China. The Company develops, produces, and sells disinfection bowl cabinets, water heaters, gas stoves, smoke machines, and other household appliances. Canbo has grown into the world's largest production base of disinfection bowl cabinets and a famous kitchen and bathroom appliances brand in China.
The new collaboration will focus on leveraging the respective strengths of Shuhai Shengxiao and Canbo to promote product evolution and enhance user experience. Shuhai Shengxiao will provide technology called "high-frequency sound air coupling microorganisms and synergistic disinfection" to upgrade Canbo's disinfection cabinet products and tackle the main problems of current disinfection cabinet products such as heat generation and ozone odor, and effectively bring the disinfection time from 3mins down to 10 seconds.
Under the agreement terms, both companies will work closely and take on responsibilities for subsequent development and commercialization activities. Once the technology integration and product development are finished and quality assurance is confirmed, the product's sales are expected to reach 500,000 units annually.
“The combination of Shuhai Shengxiao’s expertise in acoustic intelligence and Canbo's dominance in disinfection cabinet market makes for an ideal partnership to advance disinfection solutions for users. This partnership closely contributes to our goals to give users unique experiences that fundamentally enhance their everyday lives,” said Zhixin Liu, the CEO of Datasea, “Datasea has earned the trust of many institutions and is delivering significant value in the form of technology-powered solutions in 5G messaging, acoustic intelligence, and smart city. We're continually working to ensure our customers and business partners have access to the top-quality products and services.”
About Datasea Inc.
Datasea Inc., through its variable interest entity, Shuhai Information Technology Co., Ltd., a digital technology company in China, engages in three converging and innovative industries: smart city, acoustic intelligence and 5G messaging. Datasea leverages facial recognition technology and other visual intelligence algorithms, combined with cutting-edge acoustic and non-visual intelligence algorithms, to provide smart city solutions that meet the security needs of residential communities, schools and commercial enterprises. Most recently, in response to the growing utilization of 5G technologies and the overall initiative to utilize Datasea’s technology capabilities to expand business coverage and revenue resources, Datasea has also strategically expanded business coverage to 5G messaging and smart payment solutions. Datasea has been certified as one of the High Tech Enterprises (jointly issued by the Beijing Science and Technology Commission, Beijing Finance Bureau, Beijing State Taxation Bureau and Beijing Local Taxation Bureau) and one of the Zhongguancun High Tech Enterprises (issued by the Zhongguancun Science Park Administrative Committee) in recognition of the company’s achievement in high technology products. For additional company information, please visit: www.dataseainc.com. Datasea routinely posts important information on its website.
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.
Datasea investor and media Contact:
International Elite Capital Inc.
Annabelle Zhang
Telephone: +1(646) 866-7989
Email: datasea@iecapitalusa.com
