Glory Star Records RMB 900 Million in Service Contracts in Q1 2021

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BEIJING, April 13, 2021 / PRNewswire / – Glory Star New Media Group Holdings Limited (NASDAQ: GSMG) (“Star of glory“or the” Company “), a leading online and mobile digital media and entertainment company in China, today announced that it has signed a significant number of new service contracts and service contract renewals since the start of the 2021 calendar. March 31, 2021, the total value of the Company’s service contracts had reached 900 million RMB. The Company believes that its strong operational performance is largely attributable to the advancement of the Company’s CHEERS Video application in online content, including content segments such as interactive live streaming, short video, and voice-based communications. on AI. Meanwhile, the Company continues to expand its CHEERS e-Mall platform in the upstream and downstream segments of the online retail value chains and SaaS industry to further accelerate the development of new Consumption habits.

The Company’s list of current clients includes several leading companies in various sectors of China, such as Alibaba Group Holding Ltd., JD.Com, Iflytek Co Ltd., Guangdong Southern Newspaper Media Group Co., Ltd., CNLive.com, Beijing Ultrapower Software Co., Ltd., MIGU Video Co., Ltd., Tianyi Video and Media Co., Ltd., Zhongmin Zaixian, Global Tone Communication Technology Co. Ltd., Hangzhou Dangbei Network Technology Co., Ltd. and ByteDance Ltd. The Company expects such relationships to have a crucial impact on its business development and operating results in 2021 as it continues to fulfill its service contracts and expand its collaborations with these clients and more.

The Company maintains its strategic focus in the premium lifestyle market. At the heart of the Company’s business growth is the consumption of lifestyle content, products and services. Look ahead, Star of glory plans to continue to strengthen its competitive edge in the premium content-driven e-commerce space by expanding its branded supply chain, establishing more consumer use cases in smart hardware markets and refining its Multi-faceted smart lifestyle services on both its CHEERS Video app and CHEERS e-mall platform. Meanwhile, the Company will also continue to maximize the value of its massive user traffic to achieve larger operational improvements year over year and maintain its robust growth trajectory going forward.

About Glory Star New Media Group Holdings Limited

Glory Star New Media Group Holdings Limited is a leading mobile entertainment operator in China. Glory of the stars the ability to integrate premium lifestyle content including short videos, online variety shows, online dramas, live streaming, its Cheers lifestyle video series, e- Mall and a mobile app, as well as innovative e-commerce offerings on its platform, allows it to continue its mission of enriching people’s lives. The company’s large and active user base creates valuable engagement opportunities with consumers and improves the sustainability of the platform with thousands of national and international brands.

Safe Harbor Declaration

Certain statements made in this press release are “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words “estimates”, “Forecast,” “expect”, “anticipate”, “forecast”, “forecast”, “intend”, “believe”, “seek”, “may”, “will”, “should”, “future”, “proposes” and variations of such words or expressions (or negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements include, without limitation, the ability of the Company to develop its online retail and SaaS industry value chains, expand its business relationships with existing customers, and continue on its business growth trajectory. These forward-looking statements are not guarantees of performance, conditio ns or future results, and involve a number of known and unknown risks, uncertainties, assumptions and other significant factors, many of which are beyond the control of the Company, which could cause actual results or results. . differ materially from those discussed in forward-looking statements. Important factors, among others, are: the ability to manage growth; ability to identify and integrate other future acquisitions; ability to secure additional funding in the future to fund capital expenditures; fluctuations in general economic and business conditions; costs or other factors adversely affecting the profitability of the Company; disputes concerning patents, intellectual property and other matters; potential changes in the legislative and regulatory environment; a pandemic or an epidemic. The forward-looking statements contained in this press release are also subject to other risks and uncertainties, including those described in more detail in the documents filed by the Company with the Securities and Exchange Commission. The Company assumes no obligation to update or revise forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. This information is only valid as of the date of this press release.

Contacts

Glory Star New Media Group Holdings Limited
Yida Ye
E-mail: [email protected]

ICR LLC.
Sharon zhou
Phone. : +1 (646) 308-0546
E-mail: [email protected]

SOURCE Glory Star New Media Group Holdings Limited


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