KUKE MUSIC HAS ESTABLISHED A BRAND-NEW OPERATING CENTER IN WUHAN, AIMING TO OPTIMIZE COST EFFICIENCY
Beijing, June 12, 2023 (GLOBE NEWSWIRE) -- Kuke Music Holding Limited ("Kuke" or the "Company") (NYSE: KUKE), a leading classical music service platform in China with approximately 3 million audio and video music tracks, announced the establishment of a new operating center in Wuhan, the capital city of Hubei Province, China.
Kuke Music plans to relocate its marketing and technology departments to the Wuhan operating center. As a significant transportation hub and economic center in China, Wuhan boasts a well-developed transportation network and excellent infrastructure, which will facilitate the company's connections with various regions across the country. Additionally, Wuhan offers relatively reasonable operating costs, abundant talent resources, and high-quality educational institutions, providing Kuke Music with comprehensive resources that are economically beneficial and conducive to improving operational efficiency.
Mr. Yu He, CEO of Kuke Music, commented, “We are delighted to establish our new operation center in Wuhan and look forward to implementing customer-centric business operations through this initiative. This move will help to optimize operating costs and increase efficiency. It will also create more opportunities for the company's development and enable us to play an active social responsibility role in Wuhan, contributing to the local community and economic growth."
About Kuke Music Holding Limited (NYSE: KUKE)
Kuke is a leading classical music service platform in China encompassing the entire value chain from content provision to music learning services, with approximately 3 million audio and video music tracks. By collaborating with its strategic global business partner Naxos, the largest independent classical music content provider in the world, the foundation of Kuke's extensive classical music content library is its unparalleled access to more than 900 top-tier labels and record companies. Leveraging its market leadership in international copyrighted classical music content, Kuke provides highly scalable classical music licensing services to various online music platforms, and classical music subscription services to over 800 universities, libraries and other institutions across China. In addition, it has hosted Beijing Music Festival ("BMF"), the most renowned music festival in China, for 24 consecutive years. Through KUKEY, the Company's proprietary smart music learning solutions, Kuke aims to democratize music learning via technological innovation, bring fascinating music content and professional music techniques to more students, and continuously improve the efficiency and penetration of music learning in China. For more information about Kuke, please visit https://ir.kuke.com/
Forward-looking Statements
This announcement contains forward looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "aims," "future," "intends," "plans," "believes," "estimates," "confident," "potential," "continue" or other similar expressions. Statements that are not historical facts, including but not limited to statements about Kuke's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including those in Kuke's registration statement filed with the Securities and Exchange Commission. Further information regarding these and other risks is included in Kuke's filings with the SEC. All information provided in this press release is as of the date of this press release, and Kuke undertakes no obligation to update any forward-looking statement, except as required under applicable law.
For further information, please contact.
Kuke Music Holding Limited:
Investor Relations
Email: ir@kuke.com
