BEIJING, April 29, 2021 /PRNewswire/ -- Glory Star New
Media Group Holdings Limited (NASDAQ: GSMG) ("Glory Star" or the "Company"), a leading digital
media platform and content-driven e-commerce company in
China, today announced that it has
entered into discussions with major new energy vehicles
manufacturers in China for the
launch of CheerCar, its in-vehicle audio and video content mobile
application, onto their Internet of Vehicle (IoV)
platforms.
Developed internally by the Company, CheerCar is an in-vehicle
mobile application providing audio and video content which can be
accessed by drivers and passengers of electric vehicles ("EVs").
CheerCar utilizes an AI-powered search engine and the Company's
broad portfolio of content offerings to recommend different genres
of multimedia content to its users based on their interests and
specific needs. Types of content currently available on CheerCar
include entertainment, geography, science, technology, linguistics,
economics, history, and more. CheerCar is able to offer various
engaging features to front-seat passengers, such as real-time
content, voice control micro-video recording, and more. CheerCar
also provides entertainment to back-seat passengers in the form of
video recommendations, revolving photo and text content, one-click
shopping experiences, and more. CheerCar has already entered the
testing phase for the IoV platforms with several domestic EV
manufacturers.
Mr. Bing Zhang, Founder and Chief Executive Officer of
Glory Star, commented, "The new
large in-vehicle screens of automobiles will create some of the
most important use cases for the next generation of mobile users.
As IoV technology continues to evolve, there will be an increasing
number of connections established between mobile phones and
automobiles. Following this industry trend, we have designed
CheerCar to strengthen these connections, provide more diverse
audio and video content to users, and enhance the experiences of
both drivers and passengers."
About Glory Star New Media Group Holdings Limited
Glory Star New Media Group Holdings Limited is a leading digital
media platform and content-driven e-commerce company 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. Such forward-looking states
include, but are not limited to, the Company's ability to develop
its online retail and SaaS industry value chains, expand its
business relationship with existing clients and continue its
business growth trajectory. 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 the
Company's profitability; litigation involving patents, intellectual
property, and other matters; potential changes in the legislative
and regulatory environment; a pandemic or epidemic; the inability
to successfully launch CheerCar; the inability to have CheerCar
adopted by new energy vehicle manufactures; and the inability to
integrate CheerCar into LoV platforms. The forward-looking
statements contained in this release are also subject to other
risks and uncertainties, including those more fully described in
the Company's filings with the Securities and Exchange Commission.
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 LLC.
Sharon Zhou
Tel: +1 (646) 308-0546
Email: gsnm@icrinc.com
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SOURCE Glory Star New Media Group Holdings Limited