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That's a nice $4M Licensing Agreement...$GSMG
Under the terms of the agreement, the Company will continue to license and authorize the use of its CHEERS video series content to E-Surfing Media on E-Surfing Media's platform and other third-party platforms that E-Surfing Media operates for a licensing fee of RMB27 million.
News: Glory Star Renews Content Licensing Agreement with E-Surfing Media
Tue, May 18, 2021, 7:30 AM
BEIJING, May 18, 2021 /PRNewswire/ -- Glory Star New Media Group Holdings Limited (NASDAQ: GSMG) ("Glory Star" or the "Company"), a leading digital media platform and content-driven e-commerce company in China, today announced the renewal of its cooperation agreement with E-Surfing Media Co., Ltd. ("E-Surfing Media"), a subsidiary of China Telecom. Under the terms of the agreement, the Company will continue to license and authorize the use of its CHEERS video series content to E-Surfing Media on E-Surfing Media's platform and other third-party platforms that E-Surfing Media operates for a licensing fee of RMB27 million.
E-Surfing Media has since become one of the largest paid video service platforms in China. The strategic partnership between E-Surfing Media and the Company has provided access to China Telecom's enormous user base, leading to a rapid expansion of the viewership of the Company's premium content, further promotion of the Glory Star brand, and increased the Company's market share in the digital media industry.
Mr. Bing Zhang, Founder and Chief Executive Officer of Glory Star, commented, "Following the tremendous success we have had over the last year, we are very excited to renew our strategic partnership with E-Surfing Media to continue growing viewership of our premium video content and further expand E-Surfing Media's user base. The renewal of this partnership allows us to build on our past success by combining our resources and competitive advantages to deliver a superior service and premium content experience to users. We are confident that working together with E-Surfing Media will allow us to achieve greater potential in the online video industry and pave the way for mutual growth."
About Glory Star New Media Group Holdings Limited
Glory Star New Media Group Holdings Limited is a leading digital media platform and content-driven e-commerce company in China. Glory Star's ability to integrate premium lifestyle content, including short videos, online variety shows, online dramas, live streaming, its Cheers lifestyle video series, e-Mall, and mobile app, along with innovative e-commerce offerings on its platform enables it to pursue its mission of enriching people's lives. The Company's large and active user base creates valuable engagement opportunities with consumers and enhances platform stickiness with thousands of domestic and international brands.
Safe Harbor Statement
Certain statements made in this 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," "projected," "expects," "anticipates," "forecasts," "plans," "intends," "believes," "seeks," "may," "will," "should," "future," "propose" and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. Such forward-looking states include, but are not limited to, the Company's ability to develop its online retail and SaaS industry value chains, expand its business relationship with existing clients and continue its business growth trajectory. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company's control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, are: the ability to manage growth; ability to identify and integrate other future acquisitions; ability to obtain additional financing in the future to fund capital expenditures; fluctuations in general economic and business conditions; costs or other factors adversely affecting the Company's profitability; litigation involving patents, intellectual property, and other matters; potential changes in the legislative and regulatory environment; and a pandemic or epidemic. The forward-looking statements contained in this release are also subject to other risks and uncertainties, including those more fully described in the Company's filings with the Securities and Exchange Commission. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. Such information speaks only as of the date of this release.
Contacts:
Glory Star New Media Group Holdings Limited
Yida Ye
Email: yeyida@yaoshixinghui.com
ICR LLC.
Sharon Zhou
Tel: +1 (646) 308-0546
Email: gsnm@icrinc.com
$GSMG holding steady, green on low volume... Great News this week!
May 11, 2021
Glory Star Fulfills Fiscal Year 2019 and 2020 Earnout Targets and Provides First Quarter 2021 Business Update https://finance.yahoo.com/news/glory-star-fulfills-fiscal-2019-113000300.html
$GSMG First Quarter 2021 Operating Metrics Highlights
Downloads of the Company's CHEERS Video Application1 increased by 91.6% year over year to 192.6 million as of March 31, 2021.
Average daily active users ("DAUs")2 of the Company's CHEERS Video Application increased by 73.2% year over year to 7.1 million.
Stock Keeping Units ("SKUs") carried on the Company's CHEERS e-Mall platform increased by 284.2% year over year to 36,887.
Gross merchandise value ("GMV")3 of the CHEERS e-Mall platform increased by 963.2% year over year to RMB432 million.
Mr. Bing Zhang, Founder and Chief Executive Officer of Glory Star, commented, "Our first quarter operating metrics reflects strong growth momentum, new opportunities from easing government restrictions, and successful execution of our transition strategy. We fulfilled our earnout commitments for 2019 and 2020, while continuing to drive the growth of our online business. Our online business contributed 67.5% of our total revenues last year, and we expect it to comprise an even greater portion of our business this year. With our CHEERS e-Mall operations now independently operated, we are pushing forward our evolution from an offline production company into a content-driven internet company. Premium content is a core part of this strategy, and we launched a new show and several new livestreaming programs for our CHEERS e-Mall during the quarter. Going forward, we are confident that our continued transition, investment in supporting technologies, and production of premium content will position us to capitalize on the growth trend for the content-driven e-commerce industry." $GSMG
Very nice results anf growth coming out of GSMG and it looks like we can expect continued success based on the latest comments of the CEO:
Mr. Bing Zhang, Founder and Chief Executive Officer of Glory Star, commented, "Our first quarter operating metrics reflects strong growth momentum, new opportunities from easing government restrictions, and successful execution of our transition strategy. We fulfilled our earnout commitments for 2019 and 2020, while continuing to drive the growth of our online business. Our online business contributed 67.5% of our total revenues last year, and we expect it to comprise an even greater portion of our business this year. With our CHEERS e-Mall operations now independently operated, we are pushing forward our evolution from an offline production company into a content-driven internet company. Premium content is a core part of this strategy, and we launched a new show and several new livestreaming programs for our CHEERS e-Mall during the quarter. Going forward, we are confident that our continued transition, investment in supporting technologies, and production of premium content will position us to capitalize on the growth trend for the content-driven e-commerce industry."
First Quarter 2021 Operating Metrics Highlights
Downloads of the Company's CHEERS Video Application1 increased by 91.6% year over year to 192.6 million as of March 31, 2021.
Average daily active users ("DAUs")2 of the Company's CHEERS Video Application increased by 73.2% year over year to 7.1 million.
Stock Keeping Units ("SKUs") carried on the Company's CHEERS e-Mall platform increased by 284.2% year over year to 36,887.
Gross merchandise value ("GMV")3 of the CHEERS e-Mall platform increased by 963.2% year over year to RMB432 million.
$GSMG News May 11, 2021
Glory Star Fulfills Fiscal Year 2019 and 2020 Earnout Targets and Provides First Quarter 2021 Business Update https://finance.yahoo.com/news/glory-star-fulfills-fiscal-2019-113000300.html
$GPFT Grapefruit Launches New Affiliate Program in Conjunction with New E-Commerce Store https://finance.yahoo.com/news/grapefruit-launches-affiliate-program-conjunction-100000601.html
JUST IN $GSMG ! Glory Star Fulfills Fiscal Year 2019 and 2020 Earnout Targets and Provides First Quarter 2021 Business Update https://finance.yahoo.com/news/glory-star-fulfills-fiscal-2019-113000300.html?soc_src=social-sh&soc_trk=tw&tsrc=twtr v
Gross merchandise value ("GMV")3 of the CHEERS e-Mall platform increased by 963.2% year over year to RMB432 million.
Stock Keeping Units ("SKUs") carried on the Company's CHEERS e-Mall platform increased by 284.2% year over year to 36,887.
Average daily active users ("DAUs")2 of the Company's CHEERS Video Application increased by 73.2% year over year to 7.1 million.
Downloads of the Company's CHEERS Video Application1 increased by 91.6% year over year to 192.6 million as of March 31, 2021.
News: Glory Star Fulfills Fiscal Year 2019 and 2020 Earnout Targets and Provides First Quarter 2021 Business Update
Tue, May 11, 2021, 7:30 AM
BEIJING, May 11, 2021 /PRNewswire/ -- Glory Star New Media Group Holdings Limited (NASDAQ: GSMG) ("Glory Star" or the "Company"), a leading digital media platform and content-driven e-commerce company in China, today updated its operating metrics for the first quarter ending March 31, 2021.
First Quarter 2021 Operating Metrics Highlights
Downloads of the Company's CHEERS Video Application1 increased by 91.6% year over year to 192.6 million as of March 31, 2021.
Average daily active users ("DAUs")2 of the Company's CHEERS Video Application increased by 73.2% year over year to 7.1 million.
Stock Keeping Units ("SKUs") carried on the Company's CHEERS e-Mall platform increased by 284.2% year over year to 36,887.
Gross merchandise value ("GMV")3 of the CHEERS e-Mall platform increased by 963.2% year over year to RMB432 million.
In addition, the Company announced that both of its earnout targets for fiscal year 2019 and 2020 for Glory Star New Media Group Limited ("GS Media") under the Share Exchange Agreement, dated September 6, 2019 (the "Agreement"), and as amended by that certain Joinder to the Agreement, dated as of November 1, 2019 and the Amendment to the Agreement, dated December 29, 2020, by and among the Company, GS Media, and other parties to the Agreement, were fully achieved.
Mr. Bing Zhang, Founder and Chief Executive Officer of Glory Star, commented, "Our first quarter operating metrics reflects strong growth momentum, new opportunities from easing government restrictions, and successful execution of our transition strategy. We fulfilled our earnout commitments for 2019 and 2020, while continuing to drive the growth of our online business. Our online business contributed 67.5% of our total revenues last year, and we expect it to comprise an even greater portion of our business this year. With our CHEERS e-Mall operations now independently operated, we are pushing forward our evolution from an offline production company into a content-driven internet company. Premium content is a core part of this strategy, and we launched a new show and several new livestreaming programs for our CHEERS e-Mall during the quarter. Going forward, we are confident that our continued transition, investment in supporting technologies, and production of premium content will position us to capitalize on the growth trend for the content-driven e-commerce industry."
1. Glory Star defines this metric as the total number of downloads of the CHEERS Video Application as of the end of the period.
2. Glory Star defines daily active users, or DAUs, as a user who has logged in or access Glory Star's online video content and/or its e-commerce platform using the CHEERS Video Application, whether on a mobile phone or tablet. Glory Star calculates DAUs using internal company data based on the activity of the user account and as adjusted to remove "duplicate" accounts.
3. Glory Star defines gross merchandise value, or GMV, as the volume of merchandise sold through its CHEERS e-Mall platform at the end of the period.
About Glory Star New Media Group Holdings Limited
Glory Star New Media Group Holdings Limited is a leading digital media platform and content-driven e-commerce company in China. Glory Star's ability to integrate premium lifestyle content, including short videos, online variety shows, online dramas, live streaming, its Cheers lifestyle video series, e-Mall, and mobile app, along with innovative e-commerce offerings on its platform enables it to pursue its mission of enriching people's lives. The Company's large and active user base creates valuable engagement opportunities with consumers and enhances platform stickiness with thousands of domestic and international brands.
Safe Harbor Statement
Certain statements made in this 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," "projected," "expects," "anticipates," "forecasts," "plans," "intends," "believes," "seeks," "may," "will," "should," "future," "propose" and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. Such forward-looking states include, but are not limited to, the Company's ability to develop its online retail and SaaS industry value chains, expand its business relationship with existing clients and continue its business growth trajectory. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company's control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, are: the ability to manage growth; ability to identify and integrate other future acquisitions; ability to obtain additional financing in the future to fund capital expenditures; fluctuations in general economic and business conditions; costs or other factors adversely affecting the Company's profitability; litigation involving patents, intellectual property, and other matters; potential changes in the legislative and regulatory environment; and a pandemic or epidemic. The forward-looking statements contained in this release are also subject to other risks and uncertainties, including those more fully described in the Company's filings with the Securities and Exchange Commission. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. Such information speaks only as of the date of this release.
Contacts
Glory Star New Media Group Holdings Limited
Yida Ye
Email: yeyida@yaoshixinghui.com
ICR LLC.
Robin Yang
Tel: +1 (646) 308-0546
Email: gsnm@icrinc.com
SOURCE Glory Star New Media Group Holdings Limited
As the $GSMG brand continues to develop and grow, I expect 2021 to better than 2020!
In 2020, the GMV of CHEERS e-Mall was more than US$132 million, representing an increase of 581% year over year. Such a rapid pace of growth and monetization capability improvements were in line with our strategic positioning in the content driven e-commerce industry."
I really like the confidence from the ongoing and rising success of the company's CHEERS e-Mall as expressed by the GSMG management comments from the latest news:
"Our customers have welcomed CHEERS e-Mall since its initial launch in April 2019. In fact, CHEERS e-Mall's sales have been increasing at a rate much faster than our original expectations. With the maturation of our private label brand "Cheers Select," improvement of the supply chain through SAAS service providers, launch of the third-party membership services, and expansion of our collaborations with other third-party platforms, such as Taobao, JD.com, and more, we have been able to provide our customers with a better shopping experience and grow the number of SKUs on CHEERS e-Mall to more than a hundred million. In 2020, the GMV of CHEERS e-Mall was more than US$132 million, representing an increase of 581% year over year. Such a rapid pace of growth and monetization capability improvements were in line with our strategic positioning in the content driven e-commerce industry."
"With our accumulated capabilities in content, brand awareness, technology, operations, and capital, we believe we have become one of the top players in the video content driven e-commerce industry over the years. Going forward, we expect the independent operation of CHEERS e-Mall to accelerate our growth and enhance our industry leadership."
$GSMG trading well today on low volume...
Hopefully this will generate more interest and gain more exposure for $GSMG...
In addition, the Company plans to invest more resources to promote the brand influence of both its CHEERS video application and CHEERS e-Mall platform, and to further increase the Company's overall market share in media and entertainment industry.
Nice follow-up news from GSMG today on the company's progress to optimize performance of its CHEERS e-Mall operation by setting it up to operate as an independent entity. I especially like the fact that even more resources will now be employed to grow the company brands.
Glory Star Announces Independent Operation of CHEERS e-Mall
BEIJING, May 6, 2021 /PRNewswire/ -- Glory Star New Media Group Holdings Limited (NASDAQ: GSMG) ("Glory Star" or the "Company"), a leading digital media platform and content-driven e-commerce company in China, today announced that it has separated the operation of its CHEERS e-Mall platform from its CHEERS video application and will operate CHEERS e-Mall independently going forward. In addition, the Company plans to invest more resources to promote the brand influence of both its CHEERS video application and CHEERS e-Mall platform, and to further increase the Company's overall market share in media and entertainment industry.
While the CHEERS video application has maintained high business growth for Glory Star, the CHEERS e-Mall platform has also expanded the Company's presence in video content-driven e-commerce industry and has become another growth driver for the Company. With the independent operation of CHEERS e-Mall, Glory Star will look to deploy more resources to its e-commerce business, expand into the cross-border e-commerce market, and achieve greater business autonomy for its CHEERS e-Mall. Glory Star believes that the independent operation of CHEERS e-Mall platform will allow CHEERS e-Mall to be better integrated with other applications, leading to improved business performances and growth.
Mr. Bing Zhang, Founder and Chief Executive Officer of Glory Star, commented, "The independent operations of our CHEERS e-Mall application and CHEERS video application will complement each other well. By continuously improving the quality of our content ecosystem, which includes short-form videos, interactive live streaming, audio, and other form of videos, our CHEERS video application will thrive. As such, we will continue to make the content of CHEERS video available to all users while simultaneously constructing a content ecology with Professional User Generated Content ("PUGC") and User Generated Content ("UGC"). On the other hand, we will continue to upgrade CHEERS e-Mall application through improving our supply chain, logistics, big data, mobile payments, and AI-empowered customer service on the platform. As we operate CHEERS e-Mall independently through a new organizational structure, we are confident that CHEERS e-Mall will experience significant improvements in terms of user quantity, consumption frequency, supply chain, logistics, and more, and its geographic coverage will also expand."
"Our customers have welcomed CHEERS e-Mall since its initial launch in April 2019. In fact, CHEERS e-Mall's sales have been increasing at a rate much faster than our original expectations. With the maturation of our private label brand "Cheers Select," improvement of the supply chain through SAAS service providers, launch of the third-party membership services, and expansion of our collaborations with other third-party platforms, such as Taobao, JD.com, and more, we have been able to provide our customers with a better shopping experience and grow the number of SKUs on CHEERS e-Mall to more than a hundred million. In 2020, the GMV of CHEERS e-Mall was more than US$132 million, representing an increase of 581% year over year. Such a rapid pace of growth and monetization capability improvements were in line with our strategic positioning in the content driven e-commerce industry."
"With our accumulated capabilities in content, brand awareness, technology, operations, and capital, we believe we have become one of the top players in the video content driven e-commerce industry over the years. Going forward, we expect the independent operation of CHEERS e-Mall to accelerate our growth and enhance our industry leadership."
About Glory Star New Media Group Holdings Limited
Glory Star New Media Group Holdings Limited is a leading digital media platform and content-driven e-commerce company in China. Glory Star's ability to integrate premium lifestyle content, including short videos, online variety shows, online dramas, live streaming, its Cheers lifestyle video series, e-Mall, and mobile app, along with innovative e-commerce offerings on its platform enables it to pursue its mission of enriching people's lives. The Company's large and active user base creates valuable engagement opportunities with consumers and enhances platform stickiness with thousands of domestic and international brands.
Safe Harbor Statement
Certain statements made in this 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," "projected," "expects," "anticipates," "forecasts," "plans," "intends," "believes," "seeks," "may," "will," "should," "future," "propose" and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. Such forward-looking states include, but are not limited to, the Company's ability to develop its online retail and SaaS industry value chains, expand its business relationship with existing clients and continue its business growth trajectory. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company's control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, are: the ability to manage growth; ability to identify and integrate other future acquisitions; ability to obtain additional financing in the future to fund capital expenditures; fluctuations in general economic and business conditions; costs or other factors adversely affecting the Company's profitability; litigation involving patents, intellectual property, and other matters; potential changes in the legislative and regulatory environment; a pandemic or epidemic. The forward-looking statements contained in this release are also subject to other risks and uncertainties, including those more fully described in the Company's filings with the Securities and Exchange Commission. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. Such information speaks only as of the date of this release.
Contacts
Glory Star New Media Group Holdings Limited
Yida Ye
Email: yeyida@yaoshixinghui.com
ICR LLC.
Sharon Zhou
Tel: +1 (646) 308-0546
Email: gsnm@icrinc.com
https://c212.net/c/img/favicon.png?sn=CN68567&sd=2021-05-06 View original content:http://www.prnewswire.com/news-releases/glory-star-announces-independent-operation-of-cheers-e-mall-301285265.html
SOURCE Glory Star New Media Group Holdings Limited
$GSMG Glory Star Announces Independent Operation of CHEERS e-Mall https://finance.yahoo.com/news/glory-star-announces-independent-operation-113000903.html?soc_src=social-sh&soc_trk=tw&tsrc=twtr
$GSMG News May 06, 2021
Glory Star Announces Independent Operation of CHEERS e-Mall https://finance.yahoo.com/news/glory-star-announces-independent-operation-113000903.html
$GSMG NEWS! Glory Star Announces Independent Operation of CHEERS e-Mall https://finance.yahoo.com/news/glory-star-announces-independent-operation-113000903.html?soc_src=social-sh&soc_trk=tw&tsrc=twtr via @Yahoo
Good afternoon bud...$GSMG News today was spectacular!
Huge News for $GSMG...
Glory Star New Media Group Holdings Limited (NASDAQ: GSMG) ("Glory Star" or the "Company"), a leading digital media platform and content-driven e-commerce company in China, today announced that it has entered into discussions with major new energy vehicles manufacturers in China for the launch of CheerCar, its in-vehicle audio and video content mobile application, onto their Internet of Vehicle (IoV) platforms.
$GSMG today announced that it has entered into discussions with major new energy vehicles manufacturers in China for the launch of CheerCar, its in-vehicle audio and video content mobile application, onto their Internet of Vehicle (IoV) platforms. https://finance.yahoo.com/news/glory-star-enters-discussion-launch-120000607.html?soc_src=social-sh&soc_trk=tw&tsrc=twtr
$GSMG Mr. Bing Zhang, Founder and Chief Executive Officer of Glory Star, commented, "The new large in-vehicle screens of automobiles will create some of the most important use cases for the next generation of mobile users. As IoV technology continues to evolve, there will be an increasing number of connections established between mobile phones and automobiles. Following this industry trend, we have designed CheerCar to strengthen these connections, provide more diverse audio and video content to users, and enhance the experiences of both drivers and passengers."
News: Glory Star Enters Into Discussion for the Launch of its CheerCar Application on Internet of Vehicle platforms
Thu, April 29, 2021, 8:00 AM
BEIJING, April 29, 2021 /PRNewswire/ -- Glory Star New Media Group Holdings Limited (NASDAQ: GSMG) ("Glory Star" or the "Company"), a leading digital media platform and content-driven e-commerce company in China, today announced that it has entered into discussions with major new energy vehicles manufacturers in China for the launch of CheerCar, its in-vehicle audio and video content mobile application, onto their Internet of Vehicle (IoV) platforms.
Developed internally by the Company, CheerCar is an in-vehicle mobile application providing audio and video content which can be accessed by drivers and passengers of electric vehicles ("EVs"). CheerCar utilizes an AI-powered search engine and the Company's broad portfolio of content offerings to recommend different genres of multimedia content to its users based on their interests and specific needs. Types of content currently available on CheerCar include entertainment, geography, science, technology, linguistics, economics, history, and more. CheerCar is able to offer various engaging features to front-seat passengers, such as real-time content, voice control micro-video recording, and more. CheerCar also provides entertainment to back-seat passengers in the form of video recommendations, revolving photo and text content, one-click shopping experiences, and more. CheerCar has already entered the testing phase for the IoV platforms with several domestic EV manufacturers.
Mr. Bing Zhang, Founder and Chief Executive Officer of Glory Star, commented, "The new large in-vehicle screens of automobiles will create some of the most important use cases for the next generation of mobile users. As IoV technology continues to evolve, there will be an increasing number of connections established between mobile phones and automobiles. Following this industry trend, we have designed CheerCar to strengthen these connections, provide more diverse audio and video content to users, and enhance the experiences of both drivers and passengers."
About Glory Star New Media Group Holdings Limited
Glory Star New Media Group Holdings Limited is a leading digital media platform and content-driven e-commerce company in China. Glory Star's ability to integrate premium lifestyle content, including short videos, online variety shows, online dramas, live streaming, its Cheers lifestyle video series, e-Mall, and mobile app, along with innovative e-commerce offerings on its platform enables it to pursue its mission of enriching people's lives. The Company's large and active user base creates valuable engagement opportunities with consumers and enhances platform stickiness with thousands of domestic and international brands.
Safe Harbor Statement
Certain statements made in this 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," "projected," "expects," "anticipates," "forecasts," "plans," "intends," "believes," "seeks," "may," "will," "should," "future," "propose" and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. Such forward-looking states include, but are not limited to, the Company's ability to develop its online retail and SaaS industry value chains, expand its business relationship with existing clients and continue its business growth trajectory. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company's control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, are: the ability to manage growth; ability to identify and integrate other future acquisitions; ability to obtain additional financing in the future to fund capital expenditures; fluctuations in general economic and business conditions; costs or other factors adversely affecting the Company's profitability; litigation involving patents, intellectual property, and other matters; potential changes in the legislative and regulatory environment; a pandemic or epidemic; the inability to successfully launch CheerCar; the inability to have CheerCar adopted by new energy vehicle manufactures; and the inability to integrate CheerCar into LoV platforms. The forward-looking statements contained in this release are also subject to other risks and uncertainties, including those more fully described in the Company's filings with the Securities and Exchange Commission. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. Such information speaks only as of the date of this release.
Contacts
Glory Star New Media Group Holdings Limited
Yida Ye
Email: yeyida@yaoshixinghui.com
ICR LLC.
Sharon Zhou
Tel: +1 (646) 308-0546
Email: gsnm@icrinc.com
Good morning $GSMG
$GSMG looks to be getting a huge injection of Capital!
Established in 2010 in China, YMT provides an independent cross-border e-commerce platform with over 100 million registered users in 88 countries and over 800 thousand online products available for sale daily. YMT has built its own international logistics service and created a global closed-loop e-commerce and logistics system. YMT has also established logistics centers in 13 metropolitan cities across the world, including New York, San Francisco, Los Angeles, London, Paris, Frankfurt, and Sydney. YMT has raised over US$100 million of capital from well-known institutions including Sina, SAIF Asia, Sailing Capital and China Merchants Capital.
HUGE NEWS! $GSMG Glory Star to Acquire YMT, a Leading Cross-border E-commerce Platform https://finance.yahoo.com/news/glory-star-acquire-ymt-leading-120000606.html?soc_src=social-sh&soc_trk=tw&tsrc=twtr via @Yahoo
$GSMG News April 27, 2021
Glory Star to Acquire YMT, a Leading Cross-border E-commerce Platform
https://finance.yahoo.com/news/glory-star-acquire-ymt-leading-120000606.html
Very innovative idea $GSMG
Glory Star has utilized blockchain technology in developing its digital copyright management platform. This platform will allow creators a means to manage its digital copyright assets throughout the entire digital-related transaction process from digital asset registry, validation, rights confirmation, and verification. In addition, the Company has launched its internally developed digital copyright trading system, SaaS system, and blockchain credits platform on its CHEERS Video app and CHEERS e-Mall. The Company expects these new products to further improve the efficiency of digital copyright transactions and reduce intermediary costs.
$GSMG NEWS! Glory Star Announces the Commercial Application of Blockchain Technology in CHEERS Video Application and CHEERS E-Mall https://finance.yahoo.com/news/glory-star-announces-commercial-application-110000263.html?soc_src=social-sh&soc_trk=tw&tsrc=twtr via @Yahoo
Thanks for sharing that link to the $GSMG News!
$GSMG NEWS! Glory Star Announces the Commercial Application of Blockchain Technology in CHEERS Video Application and CHEERS E-Mall https://finance.yahoo.com/news/glory-star-announces-commercial-application-110000263.html?soc_src=social-sh&soc_trk=tw&tsrc=twtr via @Yahoo
Interesting...maybe someone hit the ASK at the close but the order filled after-hours?
Nice dip on $GSMG...let's see the day goes because the volume is already over the 10-day average volume in less than 1.5 hours.
More volume today than yesterday's total...let's see if the price follows the $GSMG volume.
$GSMG has many ventures coming together...
? Partnered with JD.com as a Premium Entertainment Provider for China.
? Focus on eCommerce as a Leading Supply Chain Solution Provider.
? Program Content for Multiple International Luxury Brands.
? Agreement with E-Surfing Media for 5G and AR Technologies.
? Agreement with ByteDance to Develop Joint Programming Objectives.
? In-Vehicle Interactive Content Application for New Energy Vehicles.
Isn't it a good news? GSMG was $11.5 in Feb. Now, just $3.8?
Very comprehensive and informative letter to GSMG shareholders today. This letter nicely details all the progress the company has made in 2020 despite the difficulties of working during the Covid issue.
I am especially impressed with the long term projections given which should bring considerably more value to investors here if they hold on to or grow their positions.
From the news:
Looking beyond 2020, our goal is to grow our CHEERS App user base to 800 million users. As such, we will remain committed to our strategy of 1) fueling our e-commerce initiative with premium content, and 2) strengthening the capabilities of our CHEERS App and e-Mall marketplace to serve more of those consumers who have the desire to achieve a better lifestyle. Over the past year, Glory Star has also continuously introduced innovative services and created new business models, including the CHEERS video series, original short-form videos, e-commerce with PGC live streaming, online game portfolios, and product review programs. These content offerings not only enable consumers to experience a better lifestyle, but have also helped to fuel our business expansion and will sustain our rapid growth trajectory for years to come.
$GSMG News: GSMG Releases Letter to Shareholders on Progress to Date and Future Growth Strategies
Beijing, Aug. 11, 2020 (GLOBE NEWSWIRE) -- Glory Star New Media Group Holdings Limited (NASDAQ: GSMG, GSMGW) (“Glory Star” or the “Company”), a leading mobile and online digital media and entertainment company in China, today released a letter to shareholders from Mr. Bing Zhang, the Company's Chairman and Chief Executive Officer. In the letter, Mr. Zhang provided an overview of the Glory Star’s progress in 2020 and outlined the Company’s future growth strategies. The original letter was written in Mandarin Chinese and can be accessed on the Company’s investor relations website at http://ir.gsmg.co/. The following excerpts are English language translations of key messages from the letter to shareholders.
To Shareholders, Colleagues, and Business Partners,
As this is my first letter to you as Chairman of Glory Star, I would like to take this opportunity to provide you with an overview of our progress in 2020 to date as well as our vision for the future. I would also like to thank all of our colleagues, shareholders, and business partners for their unwavering support, particularly during this challenging time. We are deeply serious about the trust placed in us by all parties and consider it an honor to move towards a common vision of the future together. In times like these, we cannot help but be reminded about what really matters, our family, our friends, and our health.
Since our successful listing on the NASDAQ stock market on February 19, 2020, we have sustained our remarkable growth trajectory, which continues to be driven by China’s rapid digitization progress as well as its social and economic developments. Now, after three years of operations, we have built a digital entertainment ecosystem that offers premium content, interactive live streaming, supply chain services, big data analysis, smart search services, and recommendation services. These services have helped our CHEERS app to not only attract over 100 million users nationwide, but also form partnerships with hundreds of established brands and service providers. In the 2020 China Content E-commerce Industry Overview Report by iResearch, Glory Star was named one of China's pioneers for the proprietary professionally generated video content e-commerce sector, the report also ranked us as number two in the market in terms of sales volume, which once again demonstrated our industry-leading position.
So far, in 2020, the outbreak of COVID-19 has presented each and every one of us with unprecedented challenges. Additionally, as the pandemic swept the globe, the world economy was also severely disrupted. These challenges and the resulting uncertainties will undoubtedly have a profound impact on the future economic developments of both China and the rest of the world. However, we believe that behind every adversity lies an opportunity, and as the outbreak continues to be brought under control in China at a steady pace, we are all beginning to return to our normal ways of life while the economy gradually recovers. Moreover, as a result of the travel restrictions and quarantine measures, we have also accelerated the pace of our digital transformation.
Despite the challenges from the outbreak of COVID-19 in the first half of 2020, our business lines maintained their solid growth trajectory. As of June 30, 2020, downloads of our CHEERS App had exceeded 121.0 million while the average daily active users for CHEERS App had reached 4.9 million. In the first half of 2020, our video content generated over 17.1 billion views online. We also delivered strong financial results in the first half of 2020 as our total revenues reached $29.4 million and our net income attributable to ordinary shareholders increased to $12.0 million. Gross Merchandise Value in the six months ended June 30, 2020, was approximately $20.0 million. Based on our results in the first half of the year, we remain fully confident in our ability to continue delivering robust financial and operating metrics for the remainder of 2020.
Looking beyond 2020, our goal is to grow our CHEERS App user base to 800 million users. As such, we will remain committed to our strategy of 1) fueling our e-commerce initiative with premium content, and 2) strengthening the capabilities of our CHEERS App and e-Mall marketplace to serve more of those consumers who have the desire to achieve a better lifestyle. Over the past year, Glory Star has also continuously introduced innovative services and created new business models, including the CHEERS video series, original short-form videos, e-commerce with PGC live streaming, online game portfolios, and product review programs. These content offerings not only enable consumers to experience a better lifestyle, but have also helped to fuel our business expansion and will sustain our rapid growth trajectory for years to come.
In the era of the fast-evolving internet, we believe that only those solutions capable of creating real value for customers will be able to stand the test of time. At Glory Star, we consider the attractiveness of our value propositions to be the core driver of our business success. Going forward, we will continue to experiment and drive innovation in order to better position ourselves at the forefront of the industry and thus generate increasing value for our users, partners, and shareholders in turn.
Bing Zhang
Chairman and Chief Executive Officer of Glory Star
About Glory Star New Media Group Holdings Limited
Glory Star New Media Group Holdings Limited is a leading mobile entertainment operator in China. Glory Star’s ability to integrate premium lifestyle content, including short videos, online variety shows, online dramas, live streaming, its Cheers lifestyle video series, e-Mall, and mobile app, along with innovative e-commerce offerings on its platform enables it to pursue its mission of enriching people’s lives. The Company’s large and active user base creates valuable engagement opportunities with consumers and enhances platform stickiness with thousands of domestic and international brands.
Safe Harbor Statement
Certain statements made in this 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,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, are: the ability to manage growth; ability to identify and integrate other future acquisitions; ability to obtain additional financing in the future to fund capital expenditures; fluctuations in general economic and business conditions; costs or other factors adversely affecting our profitability; litigation involving patents, intellectual property, and other matters; potential changes in the legislative and regulatory environment; a pandemic or epidemic; and other factors listed in the Company’s Annual Report on Form 10-K for the year ending December 31, 2019 and in other filings made by the Company with the Securities and Exchange Commission from time to time. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. Such information speaks only as of the date of this release.
Contacts
Glory Star New Media Group Holdings Limited
Yida Ye
Email: yeyida@yaoshixinghui.com
ICR Inc.
Jack Wang
Tel: +1 (646) 308-0546
Email: gsnm@icrinc.com
Good morning! News out Today. Nice update
$GSMG
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