NEW YORK, Sept. 10, 2021 /PRNewswire/–Shade Star Technologies Co., Ltd. (NASDAQ: CSCW) (hereinafter referred to as “Coloration Star” or the “Organization”), an amusement technological innovation firm devoted to the application of technological innovation and artificial intelligence (AI) in the entertainment marketplace, declared currently that its wholly-owned subsidiary, Color China, signed a memorandum of being familiar with regarding the strategy to receive Beijing-based mostly Shengcheng Method Consulting Co., Ltd. (hereafter referred to as “Shengcheng Group”). In the foreseeable future, Colour Star will utilize industrial digitization to software package progress to comprehend the concept of “net + notion” and deliver promoting products and services and enterprise answers for global enterprises.
Established in 2009, Shengcheng Team is a extensive, electronic answers and implementation expert services provider for companies. Considering the fact that its establishment, the firm has become a leader in the business, and has managed profitability for ten a long time, with enterprise earnings exceeding RMB 100 million for just about every of 2017 and 2018. The company focuses on delivering all round options for organization management consulting in the discipline of technological innovation-centered electronic advertising and marketing. Maintaining up with sector growth trends, the organization explores and places into follow a process that combines B-B-C (business to organization to consumer) and O2O (on-line to offline) styles. The company’s products and services include things like electronic intelligence tactic consulting, digital program progress, major knowledge and clever applications, good operation providers, and company management steering. At existing, its most important marketplace target is automotive, furnishing qualified huge details evaluation and electronic transformation companies for just about 100 vehicle models, like Dongfeng, Nissan, FAW, Toyota, SAIC, and Guangzhou Honda. This year, with the introduction of a new team, the corporation expects to make USD 33 million in profits. With solid support from Coloration Star, it also options to go public on the Development Enterprises Industry (GEM) in China in the around potential. Shade Star’s merger and acquisition system with Shengcheng Group is based mostly on mindful evaluation of the firm’s mature company design and wide industry prospective buyers. Pursuing the acquisition, the two companies will leverage their corporate strengths when cooperating to expand to a lot more industries and shift towards globalization inside of Coloration Star’s founded global community.
Mr. Basil Wilson, CEO of Coloration Star, commented: “The electronic industry is our most important advancement target, particularly in phrases of program targeted traffic and big information evaluation. It not only creates an inseparable link amongst our connected organizations, but also provides other firms with specific advertising capabilities. Our cooperation with Shengcheng Group is a significant milestone as we develop our business enterprise providers into the electronic area. As a professional leisure technologies enterprise, Colour Star will also offer detailed electronic internet marketing solutions for the world’s best companies in the in the vicinity of potential. We imagine this will bring in much more fascination from our financial investment partners as properly.”
About Coloration Star Engineering
Colour Star Technology Co, Ltd. (Nasdaq CM: CSCW) is an leisure and training enterprise that offers online leisure performances and online audio education and learning providers. Its company operations are conducted via its wholly-owned subsidiaries Colour China Amusement Ltd. And CACM Group NY, Inc. The Firm’s on-line education and learning is furnished as a result of its Shade Earth tunes and leisure education system. A lot more information and facts about the Enterprise can be uncovered at www.colorstarinternational.com.
This push launch is made up of forward-searching statements as defined by the Private Securities Litigation Reform Act of 1995. Ahead-on the lookout statements consist of statements relating to plans, aims, goals, techniques, foreseeable future gatherings or overall performance, and fundamental assumptions and other statements that are other than statements of historic information. When the Corporation works by using words this kind of as “may perhaps,” “will,” “intend,” “must,” “think,” “count on,” “anticipate,” “challenge,” “estimate” or comparable expressions that do not relate only to historic issues, it is producing ahead-wanting statements. Forward-wanting statements are not ensure of foreseeable future general performance and contain pitfalls and uncertainties that could bring about the actual results to differ materially from the Company’s expectations discussed in the forward-looking statements. These statements are topic to uncertainties and threats including, but not restricted to, the following: the Company’s plans and strategies the Firm’s future small business development product and services need and acceptance improvements in technological innovation financial conditions the progress of the instructional and education expert services marketplace in China and other international locations exactly where CSCW conducts its company status and brand the effects of level of competition and pricing federal government restrictions fluctuations in standard financial and small business disorders and assumptions underlying or relevant to any of the foregoing and other pitfalls contained in stories filed by the Firm with the Securities and Trade Fee. For these motives, among other individuals, investors are cautioned not to place undue reliance upon any forward-hunting statements in this push launch. Extra variables are talked about in the Company’s filings with the U.S. Securities and Trade Fee, which are out there for overview at www.sec.gov. The Company undertakes no obligation to publicly revise these forward–looking statements to replicate situations or circumstances that crop up following the day hereof except if demanded by applicable rules, regulations or policies.
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