© Reuters.
BEIJING – Datasea Inc. (NASDAQ:DTSS), a digital technology firm specializing in intelligent acoustics and 5G messaging technology in China, has announced a significant increase in its revenue for the first half of the fiscal year ending June 30, 2024. The company expects to report approximately $18.2 million in revenue for the six months ending December 31, 2023, marking a substantial rise of about 1,037.5% compared to the $1.6 million recorded in the same period of the previous fiscal year. This figure also represents a 160% increase over the $7.0 million revenue for the entire previous fiscal year.
Datasea CEO Ms. Zhixin Liu attributed the growth primarily to the company’s 5G messaging business, which has seen a boost from contracts signed since June 2023. She also noted that the Acoustic Intelligence business, focused on products that promote healthier and safer living environments, is gaining market traction.
Datasea’s operations encompass a range of technologies, including ultrasonic sterilization to combat viruses, directional sound technology, and medical ultrasonic cosmetology. In July 2023, the company expanded its global footprint by establishing Datasea Acoustics LLC in Delaware, aiming to introduce its acoustic solutions to the U.S. market.
The information in this article is based on a press release statement from Datasea Inc.
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This story originally appeared on Investing
