BEIJING, June 20,
2023 PRNewswire/ -- Glory Star New Media Group
Holdings Limited, ("Glory Star" or
the "Company") (Nasdaq: GSMG), a leading digital media
platform and content-driven e-commerce company in China, today announced that its subsidiary,
CHEERS, has been awarded an invention patent certificate by the
National Intellectual Property Administration. This patent
recognizes CHEERS' outstanding research and development
capabilities and innovation in the field of internet infrastructure
services.
The newly-awarded invention patent, titled "Big Data-Based Data
Analysis Method," offers data output recommendations for various
types of internet network businesses from multiple dimensions,
addressing clients' demands for enhancing user experience in
software application. This cutting-edge technology further
strengthens the Company's leadership in data and content analysis,
and showcases Glory Star's
commitment to technological advancement.
Mr. Bing Zhang, Chairman and Chief Executive Officer of
Glory Star, commented: "This
achievement is a testament to our dedication to innovation and our
drive to stay ahead of the curve in the ever-evolving tech
industry. The successful acquisition of this patent will not only
improve our intellectual property protection system, but also give
us an upper hand in market competition. We believe this will have a
far-reaching impact on our technological innovation, market and
brand influence, and help further consolidate our core
competitiveness."
About Glory Star
As a preeminent provider of next-generation mobile internet
infrastructure services in China, Glory Star is
dedicated to building a digital ecosystem that integrates
"platforms, applications, technology, and industry" into a cohesive
system, thereby creating a new, open business environment for
web3.0 that leverages AI technology. The Company is developing a
5G+VR+AR+AI shared universe space that builds on cutting-edge
technologies including blockchain, cloud computing, extended
reality, and digital twin.
Glory Star's portfolio
already includes a wide range of products and services, such as
North Star Xingyue Intelligent Cloud, Lingxi AI Platform, CHEERS
Open Platform, CHEERS Video, CHEERS e-Mall, CheerReal, CheerCar,
CheerChat, CHEERS Fresh Group-Buying E-commerce Platform, Digital
Innovation Research Institute, CHEERS Livestreaming, variety show
series, IP short video matrix, and more. These offerings provide
diverse application scenarios that seamlessly blend
"online/offline" and "virtual/reality" elements.
With "CHEERS+" at the core of Glory Star'secosystem, the
Company is committed to consolidating and strengthening its core
competitiveness, and achieving long-term sustainable and scalable
growth.
For more information, please visit http://ir.gsmg.co/.
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; the occurrence of any event, change or other
circumstances that could affect the Company's ability to continue
successful development and launch of its metaverse experience
centers; the possibility that the Company may not succeed in
developing its new lines of businesses due to, among other things,
changes in the business environment, competition, changes in
regulation, or other economic and policy factors; the possibility
that the Company's new lines of business may be adversely affected
by other economic, business, and/or competitive factors; other
factors, risks and uncertainties set forth in documents filed by
the Company with the Securities and Exchange Commission from time
to time, including the Company's latest Annual Report on Form 20-F
filed with the SEC on March 22, 2023. 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.
For investor and media inquiries, please contact:
Wealth Financial Services LLC
Connie Kang, Partner
Email: ckang@wealthfsllc.com
Tel: +86 1381 185 7742 (CN)
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SOURCE Glory Star New Media Group Holdings Limited