Datasea’s Top Line Growth Fueled by the Expansion of its State-of-the-Art 5G+AI Multimodal Digital Segment in China
BEIJING, Feb. 14, 2025 /PRNewswire/ — Datasea Inc. (NASDAQ: DTSS) (“Datasea”, the “Company”, “we”, “us”, or “our”), a Nevada−based technology company specializing in 5G+AI multimodal digital solutions and acoustic high−tech innovations, today announced its financial results for its second fiscal quarter ended December 31, 2024. The Company reported revenue of approximately $20.5 million, an increase of approximately 81.4% compared to revenue of approximately $11.3 million for the same period in the prior year. The increase was driven by the accelerated adoption of its 5G+AI multimodal digital business services in China due to the Company’s continued commercialization of acoustic high-tech products.
Ms. Zhixin Liu, CEO of Datasea, commented, “Our strong performance in the second fiscal quarter reflects the successful expansion of our 5G+AI multimodal digital business customer base, where we continue to be an industry leader. We believe the expanding footprint of our 5G+AI customer base and the initial market penetration of our high-margin acoustic products underscore our ability to innovate and capture emerging opportunities. We remain committed to advancing our technological innovation while driving sustainable growth.”
Financial Highlights
Business Highlights – 5G+AI Multimodal Digital Business
1. Technological Leadership
2. Key Contracts
3. Strategic Collaboration
Business Highlights – Acoustic High-Tech Business
1. Technological Innovation
2. Product Development
3. Product Placement and Expansion Plans
Operational and Strategic Outlook
About Datasea Inc.
Datasea Inc. (“Datasea”) is a leading provider of products, services, and solutions for enterprise and retail customers in two innovative industries, acoustic high tech and 5G+AI multimodal digitalization. The Company’s advanced R&D technology serves as the core infrastructure and backbone for its products. Its 5G multimodal digital segment operates on a cloud platform based on AI. Datasea leverages cutting-edge technologies, precision manufacturing, and ultrasonic, infrasound and directional sound technology in its acoustics business to combat viruses and prevent human infections, and it is also developing applications in medical ultrasonic cosmetology. In July 2023, Datasea established a wholly-owned subsidiary, Datasea Acoustics LLC, in Delaware, in a strategic move to enter the U.S. markets and to mark its global expansion plan. For additional 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,” “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 SEC, 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.
Investor and Media Contact:
Datasea Investor Relations
Email: investorrelations@shuhaixinxi.com
DATASEA INC.
CONSOLIDATED BALANCE SHEETS
DECEMBER 31,
2024
JUNE 30,
2024
(UNAUDITED)
ASSETS
CURRENT ASSETS
Cash
$
268,101
$
181,262
Accounts receivable
210,980
718,546
Inventory, net
319,932
153,583
Value-added tax prepayment
111,300
107,545
Prepaid expenses and other current assets
684,783
1,486,956
Total current assets
1,595,096
2,647,892
NONCURRENT ASSETS
Property and equipment, net
41,399
48,466
Intangible assets, net
4,081,544
546,001
Right-of-use assets, net
185,494
49,345
Total noncurrent assets
4,308,437
643,812
TOTAL ASSETS
$
5,903,533
$
3,291,704
LIABILITIES AND STOCKHOLDERS’ EQUITY
CURRENT LIABILITIES
Accounts payable
$
314,367
$
1,075,641
Unearned revenue
135,514
49,239
Accrued expenses and other payables
499,637
596,714
Due to related parties
411,619
654,560
Operating lease liabilities
79,308
53,530
Bank loan payable
1,119,860
1,170,298
Total current liabilities
2,560,305
3,599,982
NONCURRENT LIABILITIES
Operating lease liabilities
116,820
–
Total noncurrent liabilities
116,820
–
TOTAL LIABILITIES
2,677,125
3,599,982
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS’ EQUITY (DEFICIT)
Common stock, $0.001 par value, 25,000,000 shares authorized,
7,164,402 and 3,589,620 shares issued and outstanding as of
December 31, 2024 and June 30, 2024 , respectively
7,164
3,589
Additional paid-in capital
45,633,189
38,957,780
Accumulated comprehensive income
134,302
242,208
Accumulated deficit
(42,538,589)
(39,440,322)
TOTAL COMPANY STOCKHOLDERS’ EQUITY (DEFICIT)
3,236,066
(236,745)
Noncontrolling interest
(9,658)
(71,533)
TOTAL STOCKHOLDERS’ EQUITY (DEFICIT)
3,226,408
(308,278)
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY
(DEFICIT)
$
5,903,533
$
3,291,704
The accompanying notes are an integral part of these consolidated financial statements.
DATASEA INC.
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
(UNAUDITED)
THREE MONTHS ENDED
DECEMBER 31,
SIX MONTHS ENDED
DECEMBER 31,
2024
2023
2024
2023
Revenues
$
20,456,404
$
11,348,469
$
41,537,498
$
18,229,212
Cost of revenues
20,038,952
11,246,234
40,923,065
18,052,242
Gross profit
417,452
102,235
614,433
176,970
Operating expenses
