Glory Star New Media Group Holdings Ltd (GSMG)

[ProfitScout]

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.