Blue Hat Interactive Entmt Tec - BHAT STOCK NEWS

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.