Color Star Technology Announced Strategic Partnership with Two UAE Companies
Color Star Technology Co., Ltd. (Nasdaq: CSCW) has announced a strategic partnership with Multiple Events Dubai and Hunter International Travel & Tourism in the UAE. This collaboration aims to enhance cultural performance, tourism, and brand promotion. The partnership aligns with Color Star's expansion strategy in the Middle East and plans to establish an offline training base in 2021. CEO Biao Lu emphasized the company's goal to become a leading global internet entertainment entity, supported by their newly launched Color World App on December 31, 2020.
- Formation of a long-term strategic partnership with established UAE companies enhances market presence.
- Plans to establish an offline training base in the UAE by 2021 support long-term growth.
- The launch of the Color World App on December 31, 2020, is expected to strengthen international reach.
- None.
NEW YORK, Dec. 31, 2020 /PRNewswire/ -- Color Star Technology Co., Ltd. (Nasdaq CM: CSCW) (the "Company", or "Color Star"), an entertainment and education company that provides online entertainment performances and online music education services, today announced that Color China Entertainment Limited, its wholly owned subsidiary, has formally reached a long-term strategic partnership with two United Arab Emirates ("UAE") companies, Multiple Events Dubai U.A.E ("Multiple Events UAE") and Hunter International Travel & Tourism LLC. Dubai U.A.E ("Hunter International UAE"). The parties expect to use their respective advantages to collaborate on cultural performance, cross-border tourism, entertainment education, and brand promotion.
Multiple Events UAE is registered in Dubai, UAE. Its business covers film and television production, exhibitions, conferences, and consulting. Since its establishment, the company has organized and facilitated international cultural exchange projects with many multinational media companies. In 2007 and 2008, Multiple Events UAE cooperated with Hong Kong Phoenix Satellite TV ("Phoenix TV") and produced two bilingual documentaries, "Half Sea and Half Flame" and "The Sheikh's Sunrise and Sunset", which reflected the social and cultural development of the UAE. Between 2009 to 2011, as the official authorized institution of Phoenix TV, Multiple Events UAE organized the Phoenix TV Miss Chinese Cosmos contest in the Middle East region.
Hunter International UAE is registered with the Dubai Tourism Bureau, UAE. The company has hundreds of business partners in countries all over the world. In 1992, it was selected by the Chinese Consulate General in Dubai to host a delegation from China National Tourism Administration. In September 1992, it became the general agent of China International Travel Service to serve Chinese tourists visiting the UAE and to organize Middle Eastern customers' exhibitions in China.
The cooperation with the two well-established UAE companies will add to the Company's strategic layout in the Middle East. By 2021, Color Star expects to establish an offline training base in the UAE and offer online and offline Arab cultural entertainment performances.
"Color Star strives to become a top global internet entertainment company. We have built strategic partnerships in Southeast Asia, Europe and America, and now in the Middle East. The launch of our Color World App on December 31, 2020 will further promote our geographic reach and provide strong technological and internet boost to our international presence." Commented Biao Lu, CEO of Color Star.
About Color Star Technology
Color Star Technology Co, Ltd. (Nasdaq CM: CSCW) is an entertainment and education company that provides online entertainment performances and online music education services. Its business operations are conducted through its wholly-owned subsidiaries Color China Entertainment Ltd. and CACM Group NY, Inc. The Company's online education is provided through its Color World music and entertainment education platform. More information about the Company can be found at www.colorstarinternational.com.
Forward-Looking Statement
This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as "may," "will," "intend," "should," "believe," "expect," "anticipate," "project," "estimate" or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantee of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company's expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company's goals and strategies; the Company's future business development; product and service demand and acceptance; changes in technology; economic conditions; the growth of the educational and training services market in China and other countries where CSCW conducts its business; reputation and brand; the impact of competition and pricing; government regulations; fluctuations in general economic and business conditions and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the Securities and Exchange Commission. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company's filings with the U.S. Securities and Exchange Commission, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof unless required by applicable laws, regulations or rules.
For more information, please contact:
Sherry Zheng
Weitian Group LLC
Email: shunyu.zheng@weitian-ir.com
Phone: +1-718-213-7386
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SOURCE Color Star Technology Co., Ltd.
FAQ
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