NEW YORK, July 24, 2020 /PRNewswire/ -- Color Star
Technology Co., Ltd. (Nasdaq CM: HHT) (the "Company,", "we," "our"
or "HHT"), a company engaged in the business of providing education
services, today announced that its wholly owned subsidiary, Color
China Entertainment Limited ("Color China") has signed a
Cooperation Framework Agreement with Hong
Kong's renowned tourbillon watch brand Memorigin. We plan on
jointly designing, producing and selling customized watches themed
after our Star Teachers as part of the peripheral products which we
plan on selling exclusively on Color World, our developing online
education platform.
Memorigin is a brand owned by Memorigin Watch Co., Ltd., and is
the first watch brand in Hong Kong
to produce only tourbillon watches. Memorigin's watches feature the
merging of oriental sculpting techniques with the western art of
watchmaking, creating tourbillon watches with a strong Hong Kong cultural character and is a blend of
oriental and western cultures. Memorigin tourbillon watches have
been certified as world class quality in time accuracy and water
poof tests by Mr. Ogawa Satoshi
Yukari of Watch Repair Master, a famous watch repair center
in Osaka, Japan. The high quality
to price ratio of Memorigin tourbillon watches has greatly
strengthened its market penetration capabilities. The brand's
Chinese name "Wan Xi Quan" refers to
"the source of hope for all people." The English name "Memorigin"
is a combination of two words, memory and original, symbolizing
that their tourbillon watches not only record time, but also
witnesses the significant moments in one's life, celebrating and
memorizing the everlasting memories.
The cooperation between Color Star and Memorigin serves as a
prelude to the sales of other high-end peripheral products on Color
World. Color World will not only excel in online education, but
also serve as a convenient platform for celebrity peripheral
products. The establishment of this segment on our platform also
differentiates it from the traditional online education model of
teaching. Biao (Luke) Lu, CEO of
Color Star, said, "In the future, we plan on cooperating with more
top brands and independent designers around the world to launch
peripheral products exclusively for the Star Teachers of Color
World, so that their fans around the world will have a bigger
variety of purchase options."
The planned cooperation between Color World and other top brands
will also complete our platform, as we believe that consumers
around the world will visit our peripheral product shops to
purchase their favorite idols' products. We plan to also include
intellectual property such as song and movie script made available
for purchase on the sales platform of Color World so that more
musicians, producers, filmmakers and others in the entertainment
industry can generate profits with us on our platform.
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. and CACM
Group NY, Inc. The Company also anticipates providing an
after-school tutoring program in New
York via its joint venture entity Baytao LLC, and providing
online music and entertainment education via a platform branded
"Color World."
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
FinancialBuzzIR™
info@FinancialBuzzIR.com
Tele: +1-877-601-1879
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SOURCE Color Star Technology Co., Ltd.