Pop Culture Group Announces the Establishment of New Subsidiary to Facilitate Intelligent Business Development
On August 19, 2022, Pop Culture Group Co., Ltd (Nasdaq: CPOP) announced the establishment of Guangzhou Digital Intelligence Communication Culture Co., Ltd (DICC), a wholly-owned subsidiary designed to enhance the Company's business development through its 'Smart Digital' services. This initiative is part of the strategic 'POPSPACE' Plan, aimed at upgrading core business sectors and investing RMB 1 billion from 2021 to 2025. DICC will offer comprehensive communication solutions and innovative marketing strategies, contributing to the growth of the Company's sports and entertainment segments.
- Establishment of DICC to enhance business development.
- Introduction of 'Smart Digital' services for clients.
- Investment of RMB 1 billion from 2021 to 2025 to support strategic growth.
- None.
XIAMEN, China, Aug. 19, 2022 /PRNewswire/ -- Pop Culture Group Co., Ltd ("Pop Culture" or the "Company") (Nasdaq: CPOP), a hip-pop culture company in China, today announced the establishment of Guangzhou Digital Intelligence Communication Culture Co., Ltd. ("DICC"), a wholly-owned subsidiary of the Company created to facilitate the business development of "POPIDEA", the intelligent business sector, among the Company's three core business sectors. DICC is expected to upgrade the Company's conventional business services and strategies to provide clients with the communication solutions it refers to as "Smart Digital ("Smart D")".
Smart D of DICC has a variety of one-stop services, including:
- Providing digital and intelligent communication solutions through integrating data, think tanks, and online and offline communication scenarios.
- Amplifying the effect of integrated marketing by using big data tools and various means of communication.
- Providing creative design and strategy consultations, guided by the think tanks, and providing creative and visionary strategic solutions.
- Organizing events and activities by adopting relevant strategies and allocating valued resources.
The Company expects to continuously work to upgrade all of its core business sectors and it has, accordingly, proposed a strategic plan it refers to as the "POPSPACE" (hereinafter, the "Plan") to accomplish this. Smart D is a critical part of the Plan, as it will provide an important solution to clients' demands for intelligent communication. Centered around the Company's sports business sector, "POPSPORTS", the Plan will also provide services to street dance talents and help them participate in the sporting events. The Company expects to put a new street dance base into operation soon, as another part of the Plan, to facilitate the sports business. "CPOPMETA" is also a part of the Plan, associated with the Company's entertainment business sector, "POPFUN", with products protected by Non-Fungible Tokens (NFTs), which will be powered by Smart D services.
Mr. Zhuoqin Huang, the Chairman and Chief Executive Officer of Pop Culture, commented, "We are excited about the establishment of DICC and providing clients with our unique intelligent communication solution, Smart D. This is not only a reflection of our progress in upgrading our business, but also a milestone of our strategic plan. With the establishment of Shenzhen Jam Box Technology Co., Ltd in 2021 and our continued efforts in promoting street dance vocational education, we have built a solid foundation for the Plan. In the future, we expect to accelerate the development of our three core business sectors and to invest RMB1 billion into the Plan from 2021 to 2025."
About Pop Culture Group Co., Ltd
Headquartered in Xiamen, China, Pop Culture Group Co., Ltd is a hip-hop culture company. The Company aims to promote hip-hop culture and its values of love, peace, unity, respect, and having fun, and to promote cultural exchange with respect to hip-hop between the United States and China. With the values of hip-hop culture at its core and the younger generation as its primary target audience, the Company hosts entertainment events, operates hip-hop related online programs, and provides event planning and execution services and marketing services to corporate clients. The Company has in recent years focused on developing and hosting its own hip-hop events. For more information, visit the Company's website at http://ir.cpop.cn/.
Forward-Looking Statements
Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties, including the further spread of the COVID-19 virus or new variants thereof, or the occurrence of another wave of cases and the impact it may have on the Company's operations and the demand for the Company's services, and are based on current expectations and projections about future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy, and financial needs. Investors can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to," or other similar expressions. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's registration statement and its other filings with the SEC.
For more information, please contact:
Pop Culture Group Co., Ltd
Investor Relations Department
Email: ir@cpop.cn
Ascent Investors Relations LLC
Tina Xiao
President
Phone: 917-609-0333
Email: tina.xiao@ascent-ir.com
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SOURCE Pop Culture Group Co., Ltd
FAQ
What is the purpose of the new subsidiary DICC established by Pop Culture Group?
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