GSMG NASDAQ GS 2.9900 -0.0200 ( -0.66% ) Vol: 42117 Last Updated Jun 15 03:59PM EDT

Investor Relations

Glory Star Enters Into Discussion for the Launch of its CheerCar Application on Internet of Vehicle platforms

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