$GSMG is doing commendably well in a difficult time as we can see in the solid financial results they are delivering. The company management is clearly addressing the issues that matter most to ensuring continued success despite the difficulties that everyone is facing today.
Note these comments form the CEO on the GSMG Q1 results:
Mr. Bing Zhang, Founder and Chief Executive Officer of Glory Star, commented, "In the face of the COVID-19 novel coronavirus outbreak, we delivered a solid operating performance, advanced our flagship e-commerce platform, and drove user base growth. We also maintained our content leadership by focusing on the creation of original, professionally produced content in the areas of lifestyle, culture, and fashion. As such, we continued to have success in converting content viewers into CHEERS App users, which was illustrated by an excess of 100.5 million CHEERS App downloads, in total, as of March 31, 2020, compared to 17.2 million CHEERS App downloads, in total, by the end of the prior-year period. Moreover, as a result of our platform stickiness and engaging content, MAUs in the period grew by 7% on a sequential basis. Our healthy growth trajectory also continued to fuel GMV growth as illustrated by more than US$3.0 million in GMV for the month of March."
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