XIAMEN, China, Aug. 25, 2021 /PRNewswire/ -- Pop Culture
Group Co., Ltd ("Pop Culture" or the "Company") (Nasdaq: CPOP), a
hip-pop culture company in China,
announced today that, for the purpose of developing its
Software-as-a-Service ("SaaS") system to accelerate digital
transformation, the Company entered into a letter of intent for
strategic cooperation (the "LoT") on August
17, 2021 with Shenzhen HipHopJust Information Technology
Co., Ltd. ("HIT"), an innovative company engaging in third-party
services for dance events and Internet information services for the
dance industry.
Pursuant to the LoT, both parties agreed to jointly develop a
SaaS system to serve street dance organizations and enterprises,
promote the development of the street dance industry, and build
bridges between governments and enterprises in the street dance
industry, so as to cultivate more street dance talents for the
upcoming Paris 2024
Olympics.
This cooperation aims to integrate channels, technologies,
talents, and other resources accumulated by the Company and HIT in
the street dance industry during the years, and leverage the
advantages of such an integration. Moreover, both companies expect
to further optimize and promote open management systems and event
live broadcast and event information platforms for street dance
chains, with the goal of building a SaaS system specifically
designed for street dance chains. The companies expect the SaaS
system to help dance organizations quickly and conveniently handle
routine work, reduce labor costs, and monitor operation results
anytime and anywhere.
Mr. Zhuoqin Huang, Chairman and Chief Executive Officer of Pop
Culture, commented, "We believe our cooperation will assist HIT in
its street dance content operation and help us build our SaaS
system for street dance chains. We expect our SaaS system to
effectively help dance studios simplify operations, reduce
operating costs, and speed up development. With the countdown to
the Paris Olympics, the commercial value of the street dance
industry is becoming more promising in the Chinese market. We look
forward to tapping the huge economic potential of street dance
market together with HIT and helping each grow in the future."
About Pop Culture Group Co., Ltd
Headquartered in Xiamen, China,
Pop Culture Group Co., Ltd is a hip-hop culture company. The
Company aims to promote hip-hop culture and its values of love,
peace, unity, respect, and having fun, and to promote cultural
exchange with respect to hip-hop between the United States and China. With the values of hip-hop culture at
its core and the younger generation as its primary target audience,
the Company hosts entertainment events, operates hip-hop related
online programs, and provides event planning and execution services
and marketing services to corporate clients. The Company has in
recent years focused on developing and hosting its own hip-hop
events. For more information, visit the Company's website at
http://ir.popinter.cn/.
Forward-Looking Statements
All statements other than statements of historical fact in
this announcement are forward-looking statements. These
forward-looking statements involve known and unknown risks and
uncertainties, including the further spread of the COVID-19 virus
or new variants thereof, or the occurrence of another wave of cases
and the impact it may have on the Company's operations and the
demand for the Company's services, and are based on current
expectations and projections about future events and financial
trends that the Company believes may affect its financial
condition, results of operations, business strategy, and financial
needs. Investors can identify these forward-looking statements by
words or phrases such as "may," "will," "expect," "anticipate,"
"aim," "estimate," "intend," "plan," "believe," "potential,"
"continue," "is/are likely to," or other similar expressions. The
Company undertakes no obligation to update forward-looking
statements to reflect subsequent occurring events or circumstances,
or changes in its expectations, except as may be required by law.
Although the Company believes that the expectations expressed in
these forward-looking statements are reasonable, it cannot assure
you that such expectations will turn out to be correct, and the
Company cautions investors that actual results may differ
materially from the anticipated results and encourages investors to
review other factors that may affect its future results in the
Company's registration statement and its other filings with the
SEC.
For more information, please contact:
Pop Culture Group Co., Ltd
Investor Relations
Department
Email: ir@520pop.com
Ascent Investors Relations LLC
Tina Xiao
President
Phone: 917-609-0333
Email: tina.xiao@ascent-ir.com
View original
content:https://www.prnewswire.com/news-releases/pop-culture-group-co-ltd-to-develop-street-dance-chain-saas-system-to-accelerate-digital-transformation-301362284.html
SOURCE Pop Culture Group Co., Ltd