Glory Star Welcomes Visit from Secretary of the Party Working Committee of Malanshan Video Cultural Park

Glory Star Welcomes Visit from Secretary of the Party Working Committee of Malanshan Video Cultural Park

BEIJING, March 4, 2021 /PRNewswire/ -- 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 that it was honored to receive a team(the "Malanshan Team") of Malanshan Video Cultural Park (the "Park") in Glory Star's headquarters in Beijing. The Malanshan Team was led by Deputy Secretary of the Kaifu District Committee of Changsha and Secretary of the Party Working Committee of the Park, Benmiao Zou, and included Member of the Party Working Committee and Deputy Director of the Management Committee of the Park, Yan Huang, Director of China Merchants Cooperation Bureau Bin Hu, and others. During the visit, the Malanshan Team participated in discussions with the Company's management team, which included its CEO Bing Zhang, CFO Perry Lu, CIO Qingfei Tang, and executive assistant Yida Ye.

As part of the discussion, the Secretary of the Party Working Committee of the Park, Benmiao Zou shared the Park's recent development and commented that the Park will focus on the Internet, content production, cloud computing, cloud storage, 5G, audio-visual technology, e-sports, copyright integrated services, public services, and other key areas, while promoting the construction and development of companies and projects by means of supporting infrastructure, reducing taxes and related fees, supporting cultural and technological innovation, as well as optimizing the business operating environment.

Glory Star's CEO Bing Zhang expressed his warmest welcome to the Malanshan Team's visit, and conducted an extensive and in-depth discussions of the Company's digital audio and video content creation, IP integrated operation management, content e-commerce system construction, live broadcast industry support services, and other digital content industry innovation and development with the Malanshan Team. Following the discussion, Glory Star and the Malanshan Team agreed to establish an effective communication mechanism, strive to implement the cooperation vision at the industrial-level, jointly promote the sustainable and healthy development of the cultural and technology industry, and help promote further development of the Malanshan network information industry.

Malanshan Video Cultural Park, which relies on internet technologies and focuses on video culture, is an innovation highland established by Changsha in recent years. After two years of development, it has soon become a cultural and creative gathering area, with digital video as its leading industry. During the epidemic period, Malanshan Video Cultural Park helped a group of leading enterprises with their site selection and settlement by online inviting tenders, online negotiation and online contract signing. So far, 1462 new enterprises have registered, among which, 18 are Global 500 and renowned listed companies, including 4 main board listed companies namely MANGO EXCELLENT MEDIA, TVZONE, CHINA SOUTH PUBLISHING & MEDIA GROUP, and HUNAN TV & BROADCAST INTERMEDIARY CO., LTD.

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.

Glory Star New Media Group Holdings Limited
Yida Ye

Sharon Zhou
Tel: +1 (646) 308-0546

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