XIAMEN, China, Sept. 23, 2020 /PRNewswire/ -- Blue Hat
Interactive Entertainment Technology ("Blue Hat" or the "Company")
(NASDAQ: BHAT), a leading producer, developer and operator of
augmented reality ("AR") interactive entertainment games, toys and
educational materials in China,
today announced solid initial results from the Direct-to-Consumer
(DTC) partnership with Xiamen Xing Meng Wei Lai Culture Media Co.
LTD ("Xing Meng Wei Lai"), which was
initially announced in June 2020
(Previously Announced Partnership with Leading Chinese
Multi-Channel Network).
Xing Meng Wei Lai is a leading Chinese multi-channel
network and internet content development agency that specializes in
building DTC social content marketing via short videos and live
streaming. After the initial two-month implementation period, Blue
Hat held several live shows displaying its interactive
software and products, which in aggregate totaled an audience of
over fifty thousand consumers.
Because of Blue Hat's interactive component with software and AR
products such as AR racer, Xing Meng Wei Lai developed
operation strategies that the Company could implement to engage
with end customers. Xing Meng Wei Lai assisted Blue Hat in
coordinating live events over the past month following the
establishment of an online channel for purchase. During the events,
the click-through rate was about 20%, which exceeded the average
industry level.
As reference, the average industry level is 10% - 12.5%. The
transaction conversion rate nearly 7% was based on the sale of
nearly 250 products. The Company feels this establishes a solid
foundation for the further development of content
e-commerce.
Management Commentary
Mr. Xiaodong Chen, CEO of the
Company, stated, "We have placed a renewed focus on leveraging new
technologies and mobile purchasing trends to strengthen Blue Hat's
marketing initiatives. To date, we have been very pleased with our
cooperation with Xing Meng Wei Lai. The click-through rate was exceptional, and has led
to a direct increase in sales during the quarter. In future
periods, we expect to continue hosting live-event content as we
unveil new interactive software and AR applications to the market.
Following the onset of the global pandemic, we have gained
considerable traction in engaging customers through a variety of
strategic marketing initiatives, and to date the results have led
to strong sales results."
About Blue Hat
Blue Hat Interactive Entertainment Technology is a producer,
developer and operator of AR interactive entertainment games and
toys in China, including
interactive educational materials, mobile games, and toys with
mobile game features. The Company's interactive entertainment
platform creates unique user experiences by connecting physical
items to mobile devices, which creates a rich visual and
interactive environment for users through the integration of real
objects and virtual scenery. Distinguished by its own proprietary
technology, Blue Hat aims to create an engaging, interactive and
immersive community for its users. For more information, please
visit the Company's investor relations website at http://ir.bluehatgroup.com. The Company routinely provides important
information on its website.
Forward-Looking Statements
This release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended
and Section 21E of the Securities Exchange Act of 1934, as amended.
All forward-looking statements are inherently uncertain as they are
based on current expectations and assumptions concerning future
events or future performance of the Company. Readers are cautioned
not to place undue reliance on these forward-looking statements,
which are only predictions and speak only as of the date hereof. In
evaluating such statements, prospective investors should review
carefully various risks and uncertainties identified in this
release and matters set in the Company's SEC filings. These risks
and uncertainties could cause the Company's actual results to
differ materially from those indicated in the forward-looking
statements.
Contacts:
Lexie Zhang
Blue Hat Interactive Entertainment Technology
Phone: +86 (592) 228-0010
Email: ir@bluehatgroup.net
Investor Relations:
The Equity Group
Inc.
In China
Adam Prior, Senior Vice
President
Lucy Ma, Associate
(212)
836-9606
+86 10 5661 7012
aprior@equityny.com
lma@equityny.com
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SOURCE Blue Hat Interactive Entertainment Technology