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Blue Hat Interactive Entertainment Technology Ordinary Shares - BHAT STOCK NEWS

Welcome to our dedicated page for Blue Hat Interactive Entertainment Technology Ordinary Shares news (Ticker: BHAT), a resource for investors and traders seeking the latest updates and insights on Blue Hat Interactive Entertainment Technology Ordinary Shares stock.

Blue Hat Interactive Entertainment Technology Ordinary Shares (Nasdaq: BHAT) is a pioneering player in the development and commercialization of augmented reality (AR) interactive entertainment games and toys in China. The company's extensive portfolio includes products such as AR Racer, AR Crazy Bug, AR 3D Magic Box, AR Dinosaur, Talking Tom and Friends Bouncing Bubble, and Immersive Education Classes.

BHAT segments its operations into Interactive toys - animation series, Interactive toys - game series, Mobile games, Information services, and Communication services. The game series is the company's leading revenue generator, with the majority of its revenues stemming from the Chinese market.

In recent developments, BHAT has made significant strides in transforming its business model. On August 15, 2023, the company completed a $29.8 million issuance of ordinary shares, marking a notable advancement in its pivot towards commodity trading, particularly in gold and jewelry. This shift, guided by CEO Mr. Xiaodong Chen, aims to create sustainable value for global shareholders.

The company has also strategically realigned its leadership, appointing Mr. Pan Weicheng as the Chief Strategy Officer in May 2023, and has divested its Variable Interest Entity (VIE) structure within mainland China. BHAT's future growth strategies are aimed at expanding its business focus to Southeast Asia and the United States while leveraging artificial intelligence (AI) to enhance its commodity trading framework.

Further illustrating its commitment to AI, on March 19, 2024, BHAT announced its entry into AI financial services through its subsidiary, Golden Strategy Ltd. The company envisages a three-stage development plan for AI technology: infrastructure construction, revenue increase potential, and productivity enhancement. This strategic shift is poised to address the evolving market dynamics and the growing interest in AI technology applications in the financial sector.

Moreover, on May 15, 2024, BHAT introduced an AI digital person named 'Aileen' as its Chief Information Officer (CIO). Aileen's role is to collect industry information and support decision-making processes, reflecting BHAT's innovative approach in integrating AI with real-world business scenarios.

BHAT is on a transformative journey, embracing cutting-edge technologies and strategic realignments to enhance its market position and drive future growth.

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Blue Hat Interactive Entertainment Technology Ltd. (BHAT) partners with GTC Group LLC-FZ to enter the financial services sector, aiming to develop the MENA financial derivatives trading market. GTC Group has achieved over USD 50 billion in monthly trading volume by 2023. The partnership accelerates BHAT's internationalization and transition to AI services, enhancing both companies' positions in the global financial market.
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Blue Hat Interactive Entertainment Technology (NASDAQ: BHAT) announced unaudited financial results for the first half of 2023, reporting total revenues of US$46.30 million, a 5,657.93% increase from the prior-year period. However, gross profit decreased by 70.87% to US$0.08 million, and the company reported a net loss from continued operations of US$4.36 million. Blue Hat's focus has shifted to commodity trading and increasing the breadth of its business, with a particular emphasis on new projects to maximize shareholder value.
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Blue Hat Interactive Entertainment Technology's subsidiary signs agreement to purchase 1000 kilograms of gold
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Blue Hat Interactive Entertainment Technology (Nasdaq: BHAT) has completed an issuance of $29.8 million US of ordinary shares, marking a significant development for the company. BHAT aims to transform into a commodity trading company, with a focus on trading gold and jewelry. The company has appointed Mr. Pan Weicheng as the CSO and plans to shift its business focus to Southeast Asia and the United States.
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Blue Hat Interactive Entertainment Technology (BHAT) reported disappointing financial results for the second quarter and first half of 2022. Total revenues fell to US $1.7 million, down 71.1% from the previous year, largely due to the adverse impact of COVID-19 lockdowns in China. The company posted a net loss from continuing operations of US $3.4 million in Q2, compared to a net income of US $0.7 million a year earlier. For the first half, revenues dropped 78.2% to US $2.0 million, with a net loss of US $6.2 million. As of June 30, 2022, cash reserves were US $0.3 million.

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Blue Hat Interactive Entertainment Technology (NASDAQ: BHAT) announced on December 6, 2022, that it has received a notification from Nasdaq regarding non-compliance with the minimum bid price requirement. The company failed to maintain a closing bid price of at least US$1.00 for 30 consecutive trading days, a requirement under Nasdaq Listing Rules. Blue Hat has until June 5, 2023, to regain compliance, during which its shares will continue to trade. The company plans to monitor its share price closely and consider options for achieving compliance if necessary.

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Blue Hat Interactive Entertainment Technology (NASDAQ: BHAT) announced the acquisition of Xiamen Shengruihao Technology Co., Ltd. by its subsidiary, Fujian Blue Hat. This acquisition, completed recently, involves 100% equity interests in Shengruihao, a company specializing in supply chain services. Shengruihao reported turnover of 45 million USD over six months, with Blue Hat expecting revenue contributions of 45-70 million USD annually. CEO Chen Xiaodong emphasized this deal's potential to enhance profitability and support future growth strategies.

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On September 20, 2022, Blue Hat Interactive Entertainment Technology (NASDAQ: BHAT) announced a memorandum of understanding with Bigg World Pet Ltd. to act as a general agent for developing and operating strategy games like 'Mengqu Monopoly' in Southeast Asia. Bigg, known for its blockchain-driven O2O market, boasts over 10 million registered members in the region. CEO Chen Xiaodong emphasized that this partnership would enhance Blue Hat's market presence and operational capabilities across Southeast Asia.

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Blue Hat Interactive Entertainment Technology (NASDAQ: BHAT) has announced a joint operating agreement with Xiamen Traveler Network Technology Co., Ltd. to distribute its proprietary games, "cute monopoly" and "cute game box," globally. TravelerNetwork, with over 10 million paying users across various regions, will have exclusive marketing and distribution rights for these games. This partnership aims to open up overseas gaming markets, enhancing business outcomes for Blue Hat.

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Xiamen, China, Aug. 26, 2022 – Blue Hat Interactive Entertainment Technology (NASDAQ: BHAT) announced an agreement to acquire 100% of Xiamen Shengruihao Technology Co., Ltd., a firm specializing in product supply chain and integrated enterprise services. This acquisition, currently undergoing due diligence, is projected to add USD 45-70 million in annual revenue. CEO Chen Xiaodong highlighted that Shengruihao’s expertise could significantly enhance Blue Hat's profitability and market presence.

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FAQ

What is the current stock price of Blue Hat Interactive Entertainment Technology Ordinary Shares (BHAT)?

The current stock price of Blue Hat Interactive Entertainment Technology Ordinary Shares (BHAT) is $0.1851 as of November 15, 2024.

What is the market cap of Blue Hat Interactive Entertainment Technology Ordinary Shares (BHAT)?

The market cap of Blue Hat Interactive Entertainment Technology Ordinary Shares (BHAT) is approximately 10.8M.

What is Blue Hat Interactive Entertainment Technology?

Blue Hat Interactive Entertainment Technology is a developer and operator of augmented reality (AR) interactive entertainment games and toys in China.

What are some of BHAT's key products?

BHAT's key products include AR Racer, AR Crazy Bug, AR 3D Magic Box, AR Dinosaur, Talking Tom and Friends Bouncing Bubble, and Immersive Education Classes.

What recent financial developments have occurred at BHAT?

On August 15, 2023, BHAT completed a $29.8 million issuance of ordinary shares to drive its transformation into commodity trading.

What strategic shifts has BHAT made in its business model?

BHAT has shifted towards commodity trading, particularly in gold and jewelry, and is focusing on leveraging AI for trading analysis.

Who is the new Chief Strategy Officer at BHAT?

Mr. Pan Weicheng was appointed as the Chief Strategy Officer in May 2023.

What is BHAT's new focus in AI technology?

BHAT is focusing on AI financial services and has divided its AI technology development into three stages: infrastructure construction, revenue increase potential, and productivity enhancement.

What is the role of the AI digital person 'Aileen' at BHAT?

Aileen serves as BHAT's Chief Information Officer, responsible for collecting industry information and supporting decision-making.

What are BHAT's plans for future growth?

BHAT plans to expand its business focus to Southeast Asia and the United States, while continuing to develop its AI and commodity trading operations.

How is BHAT integrating AI into its business operations?

BHAT is utilizing AI for commodity trading analysis and has introduced an AI digital person to assist with decision-making and industry information collection.

Where can investors find more information about BHAT?

Investors can contact BHAT via email at ir@bluehatgroup.net or by phone at +86 (592) 228-0010 for more information.

Blue Hat Interactive Entertainment Technology Ordinary Shares

Nasdaq:BHAT

BHAT Rankings

BHAT Stock Data

10.81M
58.40M
8.41%
0.25%
0.02%
Electronic Gaming & Multimedia
Communication Services
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United States of America
Xiamen