Color Star Technology Announces Opening of Online Store
NEW YORK, Sept. 28, 2020 /PRNewswire/ -- Color Star Technology Co., Ltd. (Nasdaq CM: HHT) (the "Company", or "Color Star"), a company engaged in the businesses of providing online and offline paid knowledge services for the media, entertainment and culture industries globally, today announced that its Color World App is expected to add online store feature on October 25.
As a celebrity entertainment interactive platform, the Color World App has launched a celebrity course section and a live video broadcast section. The next-to-launch online celebrity mall section is expected to further enrich user experience of the Color World platform. The online celebrity mall will mainly sell celebrity peripheral products. Color World is currently developing celebrity co-branded peripheral products, including clothing, shoes, hats, watches, digital products, wine, and other categories. The launch of the online celebrity mall will diversify the income of Color World.
Lu Biao, CEO of Color Star, said: "The launch of the online celebrity mall as the latest addition to Color World App may make our software more diversified. At the same time, compared with other similar platforms, we are in a more competitive position to provide a complete experience for users. I believe celebrity stores can allow fans to buy peripheral products of their favorite artists on our platform, so that we expect to see increased number of daily active users in the Color World App. I believe that the launch of the Color World online mall will grow to account for a large proportion of Color World's revenue, and it will also allow more people to join and use Color World."
About Color Star Technology
Color Star Technology Co, Ltd. (NasdaqCM: HHT) offers online and offline paid knowledge services for media, entertainment and culture industries globally. Its business operations are conducted through its wholly-owned subsidiaries Color China Entertainment Ltd. and CACM Group NY, Inc. The Company's online education is provided through its Color World music and entertainment education platform. The Company also offers after-school entertainment tutoring in New York via its joint venture entity Baytao LLC. More information about the Company can be found at www.colorstarinternational.com.
This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as "may," "will," "intend," "should," "believe," "expect," "anticipate," "project," "estimate" or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Specifically, the Company's statements regarding the proposed acquisition of FENT are forward-looking statements. Forward-looking statements are not guarantee of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company's expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company's goals and strategies; the Company's future business development; product and service demand and acceptance; changes in technology; economic conditions; the growth of the educational and training services market in China and other countries where HHT conducts its business; reputation and brand; the impact of competition and pricing; government regulations; fluctuations in general economic and business conditions and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the Securities and Exchange Commission. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company's filings with the U.S. Securities and Exchange Commission, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward–looking statements to reflect events or circumstances that arise after the date hereof.
For more information, please contact:
Tony Tian, CFA
SOURCE Color Star Technology Co., Ltd.
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