Datasea Announces Three New Sales Agreements Totaling $61.7M With Chinese Subsidiaries; Supports Fiscal Year 2025 Revenue Growth For Core AI-Based Businesses; Includes Two Agreements For 5G-AI Communications And One For High-Tech Acoustic Products
Portfolio Pulse from Benzinga Newsdesk
Datasea has announced three new sales agreements totaling $61.7 million with Chinese subsidiaries. These agreements are expected to support revenue growth for its core AI-based businesses in fiscal year 2025. The deals include two agreements for 5G-AI communications and one for high-tech acoustic products.
July 01, 2024 | 1:31 pm
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Datasea has secured $61.7 million in new sales agreements with Chinese subsidiaries, which is expected to significantly boost its revenue growth for fiscal year 2025. The agreements focus on 5G-AI communications and high-tech acoustic products.
The new sales agreements totaling $61.7 million are substantial for Datasea, indicating strong future revenue growth. The focus on 5G-AI communications and high-tech acoustic products aligns with current market trends, likely leading to positive investor sentiment.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
The new sales agreements by Datasea with Chinese subsidiaries may have a positive impact on the broader Chinese market, which is represented by the FXI ETF.
While the news is directly about Datasea, the positive development in a Chinese company could have a ripple effect on the broader Chinese market, potentially benefiting the FXI ETF.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 30