Datasea Inc. (NASDAQ: DTSS) experienced a significant rise on the US charts, with shares price increased 30.67% to conclude the trading at $2.94 on Tuesday. This surge comes on the back of DTSS’ recent strategic collaborations, further solidifying its position in the 5G-AI digital services industry.
Datasea Entered New Agreements to Expand 5G-AI Services
On August 12, 2024, Datasea’s subsidiaries, Shuhai Information Technology Co., Ltd. and Guozhong Times (Beijing) Technology Co., Ltd., entered into agreements with Qingdao Ruizhi Yixing Information Technology Co., Ltd.
The focus of these agreements is to supply advanced 5G-AI multimodal digital services, aligning with Datasea’s commitment to providing innovative technological solutions. These services aim to enhance the business operations of Qingdao Ruizhi Yixing and are tailored to meet their specific customer needs.
Financial Impact and Service Expansion
By September 12, 2024, Datasea had already provided services valued at approximately RMB 65.4 million (around $9.0 million) to Qingdao Ruizhi Yixing. This reflects the increasing demand for Datasea’s 5G-AI services.
Under the terms of the agreements, Shuhai Information and Guozhong Times will continue to provide a broad range of services, including advanced marketing tools designed to improve customer engagement and business efficiency.
Qingdao Ruizhi Yixing, a key player in mobile internet promotion services across China, is set to benefit from these enhanced solutions, underscoring the relevance and demand for 5G-AI applications in the Chinese market.
DTSS Eyeing Future Growth and Market Leadership
Over the course of a year, beginning on August 9, 2024, Datasea’s companies are anticipated to provide services worth an estimated $30 million. The business expects these agreements to have a major impact on its fiscal year 2025 financial performance.
As Datasea strengthens its foothold in China’s 5G application landscape, the company plans to continue aggressive marketing efforts, potentially securing additional contracts and expanding its market share in the near future.
