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Investor Relations

Glory Star Launches Three New Live Streaming Shows on CHEERS e-Mall

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 launched three new live stream shows on its CHEERS e-Mall platform, "CHEERS Foodies," "The Big Brand," and "10 Yuan, Go!" These new shows create a brand new live shopping experience for three different shopping categories including food and beverage, cosmetics, and daily necessities. To date, the Company has seven unique live stream shows being broadcasted daily on its CHEERS e-Mall platform. The high viewership and high sales conversion rates of the live stream shows on CHEERS e-Mall have contributed to the Company's increased competitiveness in the video content-driven e-commerce industry.

"CHEERS Foodies" is an interactive, live promotion show that promotes the low-priced products on the Company's CHEERS e-Mall platform through collaborations among celebrity influencers and viewers to create foods and beverages products which are based on customized recipes by viewers.  Viewers are able to personalize their recipes using multiple products that are offered through the CHEERS e-Mall, including fresh fruits and vegetables, pastries, snacks and different types of drinks, and have their recipes created by the invited influencers during the show.

"The Big Brand" is a live stream show that promotes cosmetic products from top beauty brands while providing detailed advice and evaluation on various products to its viewers. Viewers are also able to purchase the showcased cosmetic products through the Company's CHEERS e-Mall platform at low prices with significant discounts.

"10 Yuan, Go!" is a live stream education show that promotes various high quality and inexpensive necessities and day-to-day products, along with suggested uses in various situations for everyday life.

Over the past year, Glory Star's CHEERS video application has built a strong foundation in using technology to develop and grow the Company's e-commerce market, through 5G and augmented reality ("AR") technologies to AR scene construction, video on demand, and intelligent retail to enhance and improve the visual and consumer experiences for its users. The Company is also further developing the commercial applications of blockchain and non-fungible token technologies within its consumer platforms. Through frequent improvements to its consumer platforms while creating high-quality consumer content, Glory Star continues to increase its user traffic while also developing a unique, content-driven e-commerce ecosystem.

By continuously improving the quality of its content-driven ecosystem, Glory Star consistently delivers significant value and convenience to its users, whether they are playing games, watching videos, watching live broadcasts or even shopping. Furthermore, the newly independent operations of the Company's CHEERS e-Mall and CHEERS video application continue to be key growth drivers for the Company, through the complemental nature of the unique technology, premium content, and strong consumer data insight made possible by the Company's content-driven ecosystem. 

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 ChinaGlory 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 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, including the Company's Annual Report on Form 20-F filed with the SEC on March 29, 2021, as amended. 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.
Robin Yang
Tel: +1 (646) 308-0546
Email: gsnm@icrinc.com