Color Star Technology Co., Ltd. Announces Cooperation with The Romanian Chamber of Commerce and Industry, Expanding Its Online Star Education Services
Color Star Technology Co., Ltd. (Nasdaq: HHT) announced a strategic partnership with the Romanian Chamber of Commerce and Industry on Aug. 25, 2020. This collaboration aims to enhance cultural education, brand promotion, and star education services in Romania. Color China's upcoming online education platform will be promoted by the Chamber, leveraging its local influence. The partnership will involve collaborations with notable Romanian academic institutions, aiming to boost economic development post-pandemic. CEO Biao Lu emphasized the mutual benefits of this long-term alliance.
- Long-term strategic agreement with the Romanian Chamber of Commerce and Industry.
- Focus on cultural education and brand promotion expands market potential in Europe.
- Local partnerships with Romanian academic institutions enhance credibility and outreach.
- Dependence on the Romanian market for growth amid global uncertainty.
- Risks associated with post-pandemic economic recovery affecting operations.
NEW YORK, Aug. 25, 2020 /PRNewswire/ -- Color Star Technology Co., Ltd. (Nasdaq CM: HHT) (the "Company", "we" or "HHT") today announced that its wholly owned subsidiary, Color China Entertainment Limited ("Color China") has officially reached a long-term strategic agreement with the Romanian Chamber of Commerce and Industry. In the future, the two parties will leverage each other's advantages to develop cooperation on cultural education, brand promotion, and online star education.
It is understood that this cooperation between the two parties involves a very wide range of areas. Expanding business in Europe is an important measure of the parent company Color Star Technology Co., Ltd through Color China's soon-to-be launched self-developed star online education service software. After the software is launched, the Romanian Chamber of Commerce will be fully responsible for the implementation of the promotion. With the Chamber of Commerce's influence and resources in Romania, Color China will cooperate with local academic institutions on education, research and further studies. Potential partnership institutions include the Romanian National Conservatory of Music, the Romanian Film Academy of the Romanian Radio, and Film and Television Administration which fully supports Color Star's promotion in Romania.
The Romanian Chamber of Commerce and Industry represents and safeguards the interests of the business community and its members. The Chamber of Commerce and Industry is committed to promoting economic development, improving business competitiveness, and contributing to the consolidation of the Romanian Chamber of Commerce and Industry system and the realization of business prosperity. The Chamber of Commerce and Industry firmly believes that by promoting investment and strengthening industry training, it can promote the economic development of Romania. Restarting the local economy is a priority for the Chamber of Commerce and Industry after the pandemic. With the support of the Chamber of Commerce and Industry, Color China will be able to expand its cooperation in Romania.
Mr. Biao Lu, CEO of Color Star Technology Co., Ltd. comments "Color China's in-depth and long-term strategic alliance with the Romanian Chamber of Commerce and Industry will undoubtedly become a mutually beneficial win-win development to promote joint growth."
About Color Star Technology Co., Ltd.
Color Star Technology Co, Ltd. (Nasdaq: HHT) offers online and offline innovative knowledge-paid services for music and entertainment industries globally. Its official website is www.colorstarinternational.com. 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. The Company also offers after-school entertainment tutoring in New York via its joint venture entity Baytao LLC.
Forward-Looking Statements
Certain statements made herein are "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "anticipate", "believe", "expect", "estimate", "plan", "outlook", and "project" and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Such forward-looking statements include the business plans, objectives, expectations and intentions of the parties following the completion of the acquisition, and HHT's estimated and future results of operations, business strategies, competitive position, industry environment and potential growth opportunities. These forward-looking statements reflect the current analysis of existing information and are subject to various risks and uncertainties. As a result, caution must be exercised in relying on forward-looking statements. Due to known and unknown risks, our actual results may differ materially from our expectations or projections. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements. The following factors, among others, could cause actual results to differ materially from those described in these forward-looking statements: there is uncertainty due to the COVID-19 pandemic and the impact it will have on HHT's operations, the demand for the HHT's products and services, global supply chains and economic activity in general. These and other risks and uncertainties are detailed in the other public filings with the Securities and Exchange Commission (the "SEC") by HHT. Additional information concerning these and other factors that may impact our expectations and projections will be found in our periodic filings with the SEC, including our Annual Report on Form 20-F for the fiscal year ended June 30, 2019. HHT's SEC filings are available publicly on the SEC's website at www.sec.gov. HHT disclaims any obligation to update the forward-looking statements, whether as a result of new information, future events or otherwise.
Color Star Technology Co., Ltd.
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