Color Star Technology Co., Ltd. (NASDAQ: CSCW) and Alibaba Cloud Signed Cooperation Agreement to be Unveiled in China Pavilion at World Expo in December 2021
Color Star Technology (NASDAQ: CSCW) has signed a memorandum of understanding with Alibaba Cloud to explore collaboration in cloud computing and AI. This partnership will be highlighted at the World Expo 2020 in Dubai on December 25-26, 2021. Alibaba Cloud is a leading cloud provider and will assist Color Star in enhancing its technological capabilities, including developments in the metaverse. The company emphasizes maintaining stable profits despite COVID-19 challenges, hinting at future business expansions in 2022 as they enhance their offerings.
- Collaboration with Alibaba Cloud may enhance technological capabilities in cloud computing and AI.
- Participation in the World Expo 2020 provides international exposure and potential for new partnerships.
- Color Star expresses confidence in maintaining stable profits amid the pandemic.
- None.
NEW YORK, Dec. 14, 2021 /PRNewswire/ -- Recently, Color Star Technology Co., Ltd. (NASDAQ: CSCW) (hereinafter referred to as "Color Star" or the "Company"), an entertainment technology company with a global network that focuses on the application of technology and artificial intelligence (AI) in the entertainment industry, formally signed a memorandum of understanding with Alibaba Cloud. The two parties will be at China Pavilion, World Expo 2020 in Dubai on December 25 - December 26, 2021, to join hands in this multicultural event and explore potential in-depth cooperation. In the future, Color Star will have further cooperation in technical fields such as cloud computing and artificial intelligence.
The World Expo is an international expo event with great influence and a long history of over 100 years. It is organized by the host government organization or government commissioned by relevant departments. From 1851 to 2021, the World Expo has become the embodiment of a global diversified economy, with ever more countries participating in the Expo, and where the world's top manufacturers and brands converge. Color Star is very much looking forward to this World Expo, which will not only pave new milestones for the cooperation between Alibaba Cloud and Color Star, but also give both the opportunity to shine on the international stage.
Alibaba Cloud is the world's third leading cloud computing company and an official partner of the China Pavilion at the Dubai World Expo. Currently, Alibaba Cloud operates 80 availability zones in 25 regions around the world, providing technical services to more than 3 million corporate customers. At this World Expo, Color Star and Alibaba Cloud will showcase visual effects, multiculturalism, and technological concepts.
Mr. Douglas, spokesperson of Color Star, commented: "We are honored to cooperate with Alibaba Cloud. This will greatly help and improve the Company's next step in the technology sphere and technology creation such as metaverse. It is also an honor to participate in the World Expo. In 2022, the company will bring more business content, and our Color Star metaverse will also improve step by step and be presented to the public. Despite the pressures of the COVID-19 pandemic, Color Star will continue to maintain a stable and steady profit situation."
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, including the development of the metaverse project; product and service demand and acceptance; changes in technology; economic conditions; the growth of the educational and training services market internationally 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.
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