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.
Blue Hat Interactive Entertainment Technology (NASDAQ: BHAT) announced a registered direct offering of 7,160,000 ordinary shares at $1.06 each, totaling $7.59 million in gross proceeds. The offering also includes unregistered warrants for an additional 3,580,000 shares at an exercise price of $1.33. The offering is set to close around February 3, 2021. Post-offering, there will be 46,973,660 shares outstanding. The company plans to utilize these funds for business expansion and strategic initiatives.
Blue Hat Interactive Entertainment Technology (NASDAQ: BHAT) reported preliminary unaudited financial results for Q4 2020, revealing a remarkable 70% revenue increase to approximately US$20 million, up from US$11.8 million in Q4 2019. This growth was largely attributed to the successful acquisition of Xunpusen Technology Co., Ltd., which bolstered the Company's new Internet Data Center (IDC) business. The official Q4 and full-year results are expected to be released in March 2021.
Blue Hat Interactive Entertainment Technology (NASDAQ: BHAT) has completed the acquisition of 51% of Fuzhou Csfctech Co., Ltd. for RMB 51.2 million (approx. USD 7.77 million). Csfctech is known for its mobile games and has over 100 titles available on various platforms. The deal involves cash and newly issued shares, adhering to performance targets including RMB 15 million for 2020, which was achieved. The acquisition aims to enhance Blue Hat's interactive gaming portfolio and global reach.
Blue Hat Interactive Entertainment Technology (NASDAQ: BHAT) has announced it has regained compliance with the Nasdaq Capital Market's minimum bid price requirement. As of January 25, 2021, the company's ordinary shares had a closing bid price above the $1.00 minimum for 10 consecutive business days. Nasdaq has confirmed the matter is now closed. Blue Hat specializes in augmented reality (AR) entertainment games, toys, and educational materials, aiming to create engaging user experiences through innovative technology.
Blue Hat Interactive Entertainment Technology (NASDAQ: BHAT) has signed a three-year licensing agreement with Cup of Cosmo Studio for the use of the WUHUANGWANSHUI intellectual property, effective January 1, 2021. This partnership allows Blue Hat to utilize the IP images for toys, marketing materials, and sales on its e-commerce platform. WUHUANGWANSHUI, a recognized brand in Chinese pop culture with over 30 million online fans, has generated over RMB2 billion in licensed product sales. CEO Xiaodong Chen anticipates this collaboration will enhance brand recognition and customer engagement.
Blue Hat Interactive Entertainment Technology (NASDAQ: BHAT) announced that its subsidiary, Xunpusen Technology, generated approximately RMB30 million (USD $4.5 million) in revenue in its first four months. Following its acquisition, Xunpusen has leveraged its mobile marketing expertise, signing a cooperation agreement with China Mobile for telecom value-added services and Internet Data Center contracts. The Company anticipates Xunpusen could contribute over RMB100 million (USD $15.6 million) in annual revenue.
Blue Hat Interactive Entertainment Technology (NASDAQ: BHAT) announced its acquisition of 51% of Fuzhou Csfctech Co., Ltd., which will bolster its mobile gaming unit. Csfctech is developing five new games aimed at international markets, including titles like Qule King of Fishing War and Qule Battle The Landlord, expected to launch in 2021. The company anticipates monthly revenue of USD 0.3 million from these games. Blue Hat aims to leverage Csfctech's resources to enhance its market presence and drive revenue growth in the gaming segment.
Blue Hat Interactive Entertainment Technology (NASDAQ: BHAT) announced a definitive agreement to acquire 51% of Fuzhou Csfctech Co., Ltd. for RMB51.2 million (approx. USD7.77 million). The acquisition will close around December 31, 2020 and aims to enhance Blue Hat's mobile gaming portfolio. Csfctech, a mobile game developer with an international presence, will allow Blue Hat to expand its distribution platforms and increase sales. The transaction includes performance guarantees tied to net profit benchmarks for 2020, 2021, and 2022.
Blue Hat Interactive Entertainment Technology (NASDAQ: BHAT) announced a significant agreement with three preschools in Guangzhou to implement Augmented Reality Immersive Classes (ARIC). This move marks their strategic expansion in the Guangdong-Hong Kong-Macao Greater Bay Area. Previously, the company successfully demonstrated ARIC in eight other preschools. CEO Xiaodong Chen expressed optimism about the enthusiastic reception of ARIC, indicating further growth potential in the early education sector of the Greater Bay Area.
Blue Hat Interactive Entertainment Technology (NASDAQ: BHAT) announced a partnership with China Mobile to enhance its telecom services and data center capabilities. This cooperation aims to improve customer relations, service delivery, and brand awareness through value-added services based on the Internet Plus model. CEO Xiaodong Chen noted that this collaboration has increased traffic for mobile products and enhanced customer interaction. The agreement is expected to drive sustainable profits and expand brand recognition for Blue Hat's AR products.
FAQ
What is the current stock price of Blue Hat Interactive Entertainment Technology Ordinary Shares (BHAT)?
What is the market cap of Blue Hat Interactive Entertainment Technology Ordinary Shares (BHAT)?
What is Blue Hat Interactive Entertainment Technology?
What are some of BHAT's key products?
What recent financial developments have occurred at BHAT?
What strategic shifts has BHAT made in its business model?
Who is the new Chief Strategy Officer at BHAT?
What is BHAT's new focus in AI technology?
What is the role of the AI digital person 'Aileen' at BHAT?
What are BHAT's plans for future growth?
How is BHAT integrating AI into its business operations?
Where can investors find more information about BHAT?
