12:00 PM EDT, 06/03/2024 (MT Newswires) -- Datasea ( DTSS ) said Monday that its operating unit Shuhai Information Technology recently entered a one-year agreement with Beijing Haoteng Chuangxiang Technology to expand its 5G-artificial intelligence multimodal communication technology in China.

Under the contract, which began May 11, Shuhai will provide 5G information services to Haoteng Chuangxiang, the company said.

Shuhai has already provided about $2.8 million worth of 5G information services to end-users based on Haoteng Chuangxiang's market demand in the first 10 days of the agreement, Datasea ( DTSS ) said.

Datasea ( DTSS ) said it expects to generate about $86 million in fiscal year 2024.

Shares of Datasea ( DTSS ) fell 5.9% around midday trading on Monday.

Price: 4.83, Change: -0.30, Percent Change: -5.86