Datasea DTSS Stock News

Datasea Inc (NASDAQ: DTSS) is rocketing in the market today, tradign on early gains of more than 140%. The gains come after the comapny announced that it has entered into an agreement with a parking management company in China. Here’s what’s going on:

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DTSS Announces Agreement

In the press release, Datasea said that it has entered into a new agreement with Beijing Tengyuenjunjie Parking Management. Under the terms of the agreement, the company will install its proprietary control system in Nantaipingzhuang Beixiang, a residential community in the Chaoyang District of Beijing.

The total value of the deal is relatively small, coming in at about $7,800 over the next three years. However, it’s very exciting. After all, this is the first deal of its kind in Beijing, showing that DTSS has the potential to tap into a new market.

The Control System at the center of the agreement was designed to monitor potential healthcare threats within schools and public communities. The system includes contactless body temperature measurement and uses AI-based facial recognition technology.

Through these technologies, the control system automatically identifies individuals of high risk at entrance and exit points.

In a statement, Ms. Liu Zhixn, Chairman and CEO at DTSS, had the following to offer:

We are encouraged to see our domestic footprint expand into Beijing. As the capital of China, Beijing has a population of over 21 million residents and more than 6,000 residential communities. Our long-term growth strategy is to capture as much of this densely populated part of China as possible. Our team has been hard at work in developing our proprietary technology, and we are proud to see it yield positive results.

Final Thoughts

The news released by Datasea today proved to be overwhelingly positive. The company’s control system was designed to help ensure safety in the midst of the COVID-19 pandemic, but there were questions about whether or not the company would be able to tap into this market.

Those questions are being answered. With this agreement, the company is on the right track and is proving its ability to sell its control systems. As such, DTSS is a stock that’s worth paying attention to.

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