Glory Star New Media Group Holdings Limited Announces Partnership with Beijing Ultrapower Software to Jointly Explore the Dev...
August 18 2020 - 7:00AM
Glory Star New Media Group Holdings Limited (NASDAQ: GSMG) (“Glory
Star” or the “Company”), a leading mobile and online digital media
and entertainment company in China, today announced that it has
established a strategic cooperation agreement with Beijing
Ultrapower Software Co., Ltd. (“Beijing Ultrapower Software”) (SHE:
300002) to jointly explore the development of various 5G business
applications.
Beijing Ultrapower Software is one of the first
companies to have been listed on the Shenzhen Stock Exchange's
Growth Enterprise Market in China. As a high-tech enterprise
focused on creating value and driving innovation, Beijing
Ultrapower Software remains committed to developing cutting-edge
technology as a means to better facilitate the development of the
industry as well as accelerate social progress. Over the past 20
years, Beijing Ultrapower Software has gradually formed the
technical product capabilities with communication and data as the
core. Beijing Ultrapower Software's five primary business segments
include telecom operator services, Internet of Things and
communication, artificial intelligence and big data, mobile games,
and initiatives for innovation.
Both companies have agreed to utilize their
respective industry resources and advanced technological
capabilities to jointly develop 5G messaging applications under the
partnership. Through these efforts, both companies aim to create an
innovative collaboration model that fuses highly-efficient
communication channels with premium content production capabilities
and a tailored customer service experience. In addition, this
partnership will also serve to bolster both companies’
telecommunication and 5G messaging technologies, thus laying the
foundation for the ongoing exploration of new 5G application
opportunities in content production and other business development
scenarios with monetization potential.
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
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