NEW YORK, Aug. 10, 2020 (GLOBE NEWSWIRE) — Datasea Inc. (NASDAQ: DTSS) (“Datasea” or the “Company”), a technology company engaged in providing smart security solutions and developing education-related technologies in China, announced today that it has been selected to receive a subsidy in the amount of RMB 300,000 (or approximately USD$43,000) from the Harbin Municipal Government to enhance and customize its Safe Campus Management System.
Harbin Municipal Government recently launched its “Eagle Plan” to provide additional funds to companies with innovative technologies for research and development purposes. Following the review process, the Company was selected to receive the government subsidy.Datasea’s Safe Campus Management System was designed to address security problems at K-12 school campuses by providing intelligent video surveillance, dynamic video recognition, identity recognition management, and campus-intelligent management. The Company recently upgraded the system to include infrared temperature measurement for real-time body temperature monitoring in campus populations. With the subsidy, the Company plans to enhance its Safe Campus Management System.“We view this subsidy grant as a recognition by the Harbin Government of our efforts in developing the Safe Campus Management System,” said Datasea Chairman and CEO, Ms. Liu Zhixin. “Our first subsidy, as part of the S&T Achievement Transformation Demonstration and Promotion Plan, offered financial support of our pilot projects for the schools in the Heilongjiang Province. We intend for this subsidy to continue our R&D efforts going forward.”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. For additional company 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” 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), Datasea’s ability to maintain the Beijing or similar arrangements, to receive the subject subsidy within the anticipated timeframe, to apply the subsidy to develop and enhance the Company’s current systems, 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.Investor Relations Contact:Gateway Investor Relations
Matt Glover and John Yi
DTSS@gatewayir.com
949-574-3860
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