BEIJING, June 9, 2020 /PRNewswire/ -- Color Star
Technology Co., Ltd. (Nasdaq CM: HHT) (the "Company", "we" or
"HHT"), a company engaged in the business of providing education
services, today announced its strengthened effort in achieving its
long term strategy post acquisition of Color China Entertainment.
Concurrent of ongoing progress in the development of its
proprietary online education platform "Color Star," the Company
also plans to host an online concert in the second half of 2020 to
introduce professional music instructors who will offer lessons on
the Color Star platform. The Company is expected to begin
onboarding artists and open to students for registration in the
second half of 2020.
The acquisition of Color China greatly contributes to the effort
in the initial development of Color Star platform as the company
now has access to all of Color China's industry resources and
expertise. More importantly, Color China's unique and abundant
entertainment industry assets as well as its network of renowned
artists and professionals will go a long way for Color Star's
strategy and will extend to Color Star's future initiatives.
The "Color Star" platform will feature proprietary lessons
taught by professional artists across the globe as well as related
celebrity generated content. Lessons consist of both theoretical
and practical components, aiming to provide students with solid
fundamental skills and provide students opportunities for jobs in
the entertainment industry. The company will announce onboarding
artists and specific lessons they offer upon reaching cooperation
agreements. The platform will also serve as an e-commerce channel
for commercialized celebrity IP products beyond lessons.
"We are thrilled to be able to utilize all of Color China's
assets in the entertainment industry and offer more features and
benefits to our students," commented Sean
Liu, Chief Executive Officer of Color Star Technology,
"Visualizing our offer to students and our potential initiatives
are exciting. Now with the acquisition of Color China, we are very
confident in our strategy as well as future success."
About Color Star Technology Co., Ltd.
Color Star Technology, is a holding company whose primary
business is offering both online and offline innovative education
services. Its business operations are conducted through its
wholly-owned subsidiaries Color China Entertainment Ltd., CACM
Group NY, Inc., Sunway Kids International Education Group Ltd.
("Sunway Kids"), Brave Millennium Limited, Chengdu Hengshanghui
Intelligent Technology Co., Ltd. and its variable interest entity,
Chengdu Hengshanghui Education Consulting Co., Ltd. Sunway Kids
engages in the early childhood education service business,
providing a well-structured system to day cares and preschools
in China, including AI and robotic technologies, intellectual
campus administration software as a service (SaaS) system and
personalized education planning. The Company also anticipates
providing an after-school tutoring program in New
York via its joint venture entity Baytao LLC, and providing
online education via a platform being built by CACM.
Forward-Looking Statements
Certain statements made herein are "forward-looking statements"
within the meaning of the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements may be identified by the use of words such as
"anticipate", "believe", "expect", "estimate", "plan", "outlook",
and "project" and other similar expressions that predict or
indicate future events or trends or that are not statements of
historical matters. Such forward-looking statements include the
business plans, objectives, expectations and intentions of the
parties following the completion of the acquisition, and HHT's
estimated and future results of operations, business strategies,
competitive position, industry environment and potential growth
opportunities. These forward-looking statements reflect the current
analysis of existing information and are subject to various risks
and uncertainties. As a result, caution must be exercised in
relying on forward-looking statements. Due to known and unknown
risks, our actual results may differ materially from our
expectations or projections. All forward-looking statements
attributable to the Company or persons acting on its behalf are
expressly qualified in their entirety by these factors. Other than
as required under the securities laws, the Company does not assume
a duty to update these forward-looking statements.
The following factors, among others, could cause actual results
to differ materially from those described in these forward-looking
statements: there is uncertainty about the spread of the COVID-19
virus and the impact it will have on HHT's operations, the demand
for the HHT's products and services, global supply chains and
economic activity in general. These and other risks and
uncertainties are detailed in the other public filings with the
Securities and Exchange Commission (the "SEC") by HHT.
Additional information concerning these and other factors that
may impact our expectations and projections will be found in our
periodic filings with the SEC, including our Annual Report on Form
20-F for the fiscal year ended June 30, 2019. HHT's SEC
filings are available publicly on the SEC's website
at www.sec.gov. HHT disclaims any obligation to update the
forward-looking statements, whether as a result of new information,
future events or otherwise.
Color Star Technology Co.,
Ltd.
Contact: Investor
Relations
Cassie
Zhang
ir@colorstarinternational.com
929-317-2699
View original
content:http://www.prnewswire.com/news-releases/color-star-technology-announces-plans-for-its-online-education-platform-color-star-post-acquisition-of-color-china-301072494.html
SOURCE Color Star Technology Co., Ltd.