Datasea establishes joint venture to enter 5G market in China

Datasea announced that, on December 22, 2023, Guozhong Times, a subsidiary of the Chinese operating company contractually controlled by the company, established a joint venture company in China with new partner Shenzhen Yiyun Technology. The joint venture company, Datasea Yiyun Shenzhen Digital, has been formed in an attempt to further penetrate the 5G multimodal communications sector by leveraging Artificial Intelligence and combining Datasea’s technology and service capabilities with Yiyun Technology’s digital technology marketing, promotion and 5G operations capabilities. Datasea holds 66% total of the equity of DataSea Digital and Yiyun Technology holds a 34% ownership position. DataSea Digital, the new joint venture company, will serve as the core business carrier of Datasea’s AI based 5G multimodal communication services.