Glory Star New Media Group Holdings Ltd (GSMG)

[ProfitScout]

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."