Glory Star New Media Group Holdings Limited (NASDAQ: GSMG) a leading digital media platform and content-driven e-commerce company in China, today announced that during the Company’s Mid-Year Sales Event held from June 1 to June 18, 2021 (the “6.18 Shopping Festival” or the “Mid-Year Sales Event”), the Gross Merchandise Value (“GMV”) of its CHEERS e-Mall grew by approximately 380% year over year to RMB 240 million. The Company’s outstanding results during the 6.18 Shopping Festival were mainly driven by its execution of innovative marketing campaigns, an increased number of stock-keeping units (“SKUs”) carried by its CHEERS e-Mall, alongside quality brand selections, favorable demographic trends, and established synergies between its CHEERS e-Mall and CHEERS video application.
In April 2021, prior to the Mid-Year Sales Event, the Company further expanded its efforts to increase its CHEERS e-MALL SKU selection and to attract more brands into the CHEERS e-Mall. As a result, over 1,100 brands participated in the 6.18 Shopping Festival, the number of SKUs that was carried by the CHEERS e-Mall increased by approximately 30% year over year, and the GMV of the CHEERS e-Mall food category also increased by approximately 470% year over year. The most popular brands included Apple, TCL, and Hisense, while the top-selling SKU categories included gold jewelry, computers, communications and consumer electronics, and home appliances.
Glory Star’s CHEERS e-Mall has been gaining traction with consumers and has continuously delivered strong GMV performance for the Company since its launch in April 2019. It achieved outstanding performance in 2020, during which its GMV grew by 581% year over year to US$132 million
GSMG Highlights:
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Partnered with JD.com as a Premium Entertainment Provider for China.
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Strategic Cooperation with the Haier Group (Owns GE Appliance division)
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GSMG Beat the Street recently with 88% Revenue Growth and proves they are a Media Giant.
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Focus on eCommerce as a Leading Supply Chain Solution Provider.
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Program Content for Multiple International Luxury Brands.
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Agreement with E-Surfing Media for 5G and AR Technologies.
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Agreement with ByteDance to Develop Joint Programming Objectives.
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In-Vehicle Interactive Content Application for New Energy Vehicles.
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GSMG via YMT will Service 88 Countries with 100 Million Registered Users that will add Many Employees to GSMG
About Glory Star New Media Group Holdings Limited
Glory Star New Media Group Holdings Limited is a leading mobile entertainment operator 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.
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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.
Media Contact
Company Name: Glory Star New Media Group Holdings Limited
Contact Person: Bing Zhang, Chairman and CEO
Email: Send Email
Phone: +86 (0) 10 8770-0500
Address:NO. 8 TUOFANGYING SOUTH ROAD 22ND FLOOR, BLOCK B, XINHUA TECHNOLOGY BUILDING
City: BEIJING, 100016
Country: China
Website: http://ir.yaoshixinghui.com/
