Glory Star New Media Group Holdings Limited (Stock Symbol: GSMG) is a Leading Entertainment Provider for China Now Employing Blockchain Tech to Optimize Programming; Strong 2020 FY Financial Results Reported

Byphilip fleck

Partnered with JD.com as a Premium Entertainment Provider for China. 

Focus on eCommerce as a Leading Supply Chain Solution Provider. 

Incorporating Blockchain Technology for Multiple Benefits.  

Strong Financial Results Just Reported for Full 2020 Fiscal Year.  

Agreement with E-Surfing Media for 5G and AR Technologies. 

Agreement with ByteDance to Develop Joint Programming Objectives.

Glory Star New Media Group Holdings Limited (GSMG) is a leading mobile entertainment operator in China. The GSMG 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 GSMG large and active user base creates valuable engagement opportunities with consumers and enhances platform stickiness with thousands of domestic and international brands.

GSMG partners with JD.com Inc. (“JD”) is one of China’s largest e-commerce platforms. As part of the partnership with GSMG, the company will develop solutions to help JD fulfill their customers’ needs for premium lifestyle-oriented online content, in the forms of text and short-form videos. The content production for JD.com is a great addition to Glory Star’s premium digital client lists which includes Tencent, Alibaba, Weibo, Iqiyi as well as traditional consumer brand clients such as Starbucks, Pantene, Louis Vuitton, Samsung and Sony etc.

JD.com is a leading technology driven e-commerce company transforming to become the leading supply chain-based technology and service provider. JD.com is the largest retailer in China, a member of the NASDAQ100 and a Fortune Global 500 company.

  • Commercial Application of Blockchain Technology in CHEERS Video Application and CHEERS E-Mall

On April 6th GSMG announced that it has integrated the commercial application of blockchain technology into its CHEERS Video application and CHEERS e-Mall, as a result of its strategic deployment and R&D investment in blockchain technology, which began in 2019.

GSMG also plans to utilize its competitive advantages in research and development in the blockchain technology to empower small- to medium-sized enterprises in the fields of mobile internet and 5G, and to improve the application and development of blockchain technology in several different fields, including digital assets, digital payments, digital rights, and e-commerce.

  • Glory Star Reports Full Year 2020 Financial Results

On March 29th GSMG announced financial results for the full year ended December 31, 2020.

Full Year 2020 Operating Highlights

  • Downloads of the CHEERS App1 was approximately 169 million as of December 31, 2020, compared to 85 million as of December 31, 2019.
  • Average daily active users (“DAUs”)2 of the CHEERS App increased to approximately 5.4 million from 1.9 million for the full year of 2019.
  • The Company’s e-Mall carried 24,975 Stock Keeping Units (“SKUs”) in total as of December 31, 2020. Gross merchandise value (“GMV”) of the Company’s CHEERS App was approximately US$132 million, compared to US$19.4 million in the full year of 2019.

Full Year 2020 Financial Highlights

  • Revenues for the full year of 2020 increased by 88.2% to US$123.8 million from US$65.8 million for the full year of 2019. Revenues from the Company’s CHEERS App Internet Business increased by 195.3% to US$83.6 million for the full year of 2020, from US$28.3 million in the full year of 2019, and represents 67.5% of total revenues. Revenues from the Company’s Traditional Media Business increased by 7.2% to US$40.2 million for the full year of 2020 from US$37.5 million for the full year of 2019, and accounts for the remaining 32.5% of total revenues.
  • Income from operations for the full year of 2020 increased by 14.3% to US$30.7 million, from US$26.8 million for the full year of 2019.
  • Operating margin was 24.8% for the full year of 2020, compared to 40.8% for the full year of 2019.
  • Net income attributable to Glory Star’s shareholders increased by 11.2% to US$29.3 million for the full year of 2020, from US$26.3 million for the full year of 2019.
  • Net margin was 23.6% for the full year of 2020, compared to 40.1 % in the full year of 2019.

Basic and diluted net income per share for the full year of 2020 were US$0.54 and US$0.50, respectively. In comparison, the Company’s basic and diluted net income per share for the full year of 2019 were US$0.64 and US$0.57, respectively. As of December 31, 2020, the Company had cash and cash equivalents of US$17.7 million, compared to US$6.9 million as of December 31, 2019.

  • GSMG Cooperates With E-Surfing Media, a Subsidiary of China Telecom, to Launch AR New Consumption Solutions

As part of the discussion, the Secretary of the Party Working Committee of the Park, Benmiao Zou shared the Park’s recent development and commented that the Park will focus on the Internet, content production, cloud computing, cloud storage, 5G, audio-visual technology, e-sports, copyright integrated services, public services, and other key areas, while promoting the construction and development of companies and projects by means of supporting infrastructure, reducing taxes and related fees, supporting cultural and technological innovation, as well as optimizing the business operating environment.

Following their discussions, GSMG and the Malanshan Team agreed to establish an effective communication mechanism, strive to implement the cooperation vision at the industrial-level, jointly promote the sustainable and healthy development of the cultural and technology industry, and help promote further development of the Malanshan network information industry.

For more information on GSMG visit: http://www.yaoshixinghui.com/

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Disclaimer/Safe Harbor:

These news releases and postings may contain forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company’s current views with respect to future events that involve risks and uncertainties. Among others, these risks include the expectation that any of the companies mentioned herein will achieve significant sales, the failure to meet schedule or performance requirements of the companies’ contracts, the companies’ liquidity position, the companies’ ability to obtain new contracts, the emergence of competitors with greater financial resources and the impact of competitive pricing. In the light of these uncertainties, the forward-looking events referred to in this release might not occur.

SOURCE: CorporateAds.com