Glory Star New Star Media Holdings Limited Announces Results of 2020 Annual General Meeting

Rhea-AI Summary

Glory Star New Media Group Holdings Limited (NASDAQ: GSMG) held its 2020 Annual General Meeting on December 26, 2020, in Beijing. Key outcomes included the re-election of Ming Shu Leung and Jia Lu as Class I directors until the 2022 AGM and the ratification of Friedman LLP as the company’s independent registered public accounting firm for the 2020 fiscal year. Glory Star continues to be a major player in China's mobile entertainment sector, integrating premium content and innovative e-commerce offerings to enhance user engagement and platform stickiness.

Positive

• Re-elected directors will provide continuity in leadership until 2022.
• Friedman LLP's ratification as auditors indicates stability in financial oversight.

Negative

• None.

BEIJING, Dec. 28, 2020 (GLOBE NEWSWIRE) -- Glory Star New Media Group Holdings Limited (NASDAQ: GSMG) (“Glory Star” or the “Company”), a leading mobile and online digital media and entertainment company in China, today announced the results of its 2020 Annual General Meeting, which was held on December 26, 2020, in Beijing, China.

At the Annual General Meeting, shareholders:

            (1)        re-elected Messrs. Ming Shu Leung and Jia Lu  as Class I directors of the Company until the 2022 annual general meeting of the Company or until their respective successors are duly appointed and qualified, and

            (2)        ratified the re-appointment of Friedman LLP as independent registered public accounting firm of the Company for the financial year ending December 31, 2020.

About Glory Star New Media Group Holdings Limited
Glory Star New Media Group Holdings Limited is a leading mobile entertainment operator in China. Glory Star’s ability to integrate premium lifestyle content, including short videos, online variety shows, online dramas, live streaming, its Cheers lifestyle video series, e-Mall, and mobile app, along with innovative e-commerce offerings on its platform enables it to pursue its mission of enriching people’s lives. The company’s large and active user base creates valuable engagement opportunities with consumers and enhances platform stickiness with thousands of domestic and international brands.

Safe Harbor Statement
Certain statements made in this release are “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions  (or the negative versions of such words or expressions ) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, are: the ability to manage growth; ability to identify and integrate other future acquisitions; ability to obtain additional financing in the future to fund capital expenditures; fluctuations in general economic and business conditions; costs or other factors adversely affecting our profitability; litigation involving patents, intellectual property, and other matters; potential changes in the legislative and regulatory environment; a pandemic or epidemic; and other factors listed in the Company’s Annual Report on Form 10-K for the year ending December 31, 2019 and in other filings made by the Company with the Securities and Exchange Commission from time to time. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. Such information speaks only as of the date of this release.

Contacts
Glory Star New Media Group Holdings Limited
Yida Ye
Email: yeyida@yaoshixinghui.com

ICR LLC.
Sharon Zhou
Tel: +1 (646) 308-0546
Email: gsnm@icrinc.com

FAQ

What key decisions were made at Glory Star's 2020 Annual General Meeting?

At the AGM held on December 26, 2020, shareholders re-elected Ming Shu Leung and Jia Lu as directors and ratified the re-appointment of Friedman LLP as auditors for 2020.

Who are the re-elected directors of Glory Star New Media Group?

The re-elected directors are Ming Shu Leung and Jia Lu, serving until the 2022 Annual General Meeting.

What is the significance of the ratification of Friedman LLP for Glory Star?

The ratification of Friedman LLP as auditors signifies continued financial oversight and stability for Glory Star for the 2020 fiscal year.

What is Glory Star's focus in the mobile entertainment market?

Glory Star focuses on integrating premium lifestyle content and innovative e-commerce offerings to enhance user engagement in China's mobile entertainment market.