Published on 18 Jul 2022 on Benzinga via Yahoo Finance

Here's Why Datasea Shares Are Trading Higher Premarket

Datasea Inc (NASDAQ: DTSS) subsidiary Guohao Century (Beijing) Technology Ltd inked a purchase agreement with Hangzhou Runsheng Network Technology Ltd, a leading marketing service provider, for a consideration of $22.3 million (RMB 150 million).Hangzhou Runsheng offers powerful marketing automation features to enterprises, including China UnionPay, Ping An Group, and JD.com, Inc (NASDAQ: JD).The agreement reflects an acceleration in demand for Datasea's 5G messaging services and penetration in the 5G messaging market.Datasea provides 5G messaging services to enhance communication workflows and drill deep into the brands and organizations on Hangzhou Runsheng's new client wishlist.Guohao Century will act as the supplier and provide 5G messaging recharge payment services for China Mobile, China Unicom, and China Telecom. It will serve as a technical interface as a transmission channel to track transaction data and 5G short messages and telecommunication value-added services for Hangzhou Runsheng.Zhixin Liu, CEO of Datasea, stated, "We are delighted to announce the agreement with Hangzhou Runsheng and create multi-channel and targeted marketing campaigns to help them optimize lead generation, customize clients and prospect communications, and automate marketing activities."Price Action: DTSS shares traded higher by 5.96% at $2.31 in the premarket on the last check Monday.

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