Datasea enters three new sales agreements with China subsidiaries

Datasea announced three new sales agreements with its subsidiaries in China. If the parties to these agreements that total approximately $61.7 million that encompass two agreements for its 5G-AI communications segment, and one agreement for its high tech acoustic products segment. Datasea’s three new sales agreements are as follows: On May 15, 2024, the Company’s Guozhong Haoze subsidiary signed a 5G AI Multimodal Communication Agreement with Shenzhen Juhaowan Technology. According to the agreement, Juhaowan can purchase 5G multimodal communication delivery services from Guozhong Haoze over the course of 12 months that have an estimated total value of up to $30 million. On May 13, 2024, the Company’s Heilongjiang Xunrui subsidiary signed a 5G AI Multimodal Communication Agreement with Shenzhen Yuzhongqing Technology. According to the agreement, Yuzhongqing can purchase 5G multimodal communication delivery services from Heilongjiang Xunrui over the course of 12 months that have an estimated total value of up to $30 million. On June 8, 2024, the Company’s Shuhai Jingwei subsidiary entered into an Acoustic Products Sales Agreement with Tianjin Qianli Culture Communication for the Company’s acoustic high tech products. According to the agreement, Qianli Culture will purchase a total of approximately 20,000 units of the company’s “Tianer” and “Star Sleep” branded products, including air disinfection machines, restroom deodorization and disinfection devices, and sleep aids, by December 31, 2024; the total contract amount is approximately $1.7 million.