Your new NASDAQ stock profile is Glory Star New Media Group Holdings Limited (NASDAQ: GSMG).
Several news releases have recently hit the wire on (GSMG) suggesting game-changing events that have the potential to create bullish moves.
Your next move is to read below, and most importantly check out the company highlights.
CHEERS e-Mall GMV Growth Exceeds 4,000% YoY during the 6.18 E-Commerce Shopping Festival in China
BEIJING, June 23, 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 that the Gross Merchandise Value (GMV) for its CHEERS e-Mall online e-commerce platform grew by 4,009% year over
year to RMB50.6Mn and order volume increased by more than 780% year over year in 2020 during the 6.18 e-commerce shopping festival, a highly popular mid-year e-commerce shopping bonanza occurring annually in China.
In an uncertain economic environment, China's 2020 6.18 e-commerce shopping festival has provided a first look at the subtle shift in consumer behavior across the country. During the shopping festival, Glory Star successfully capitalized on the rising purchasing power and consumption desire of China's youth. Glory Star's increasing focus on the
young Chinese consumer segment has become a cornerstone of its CHEERS e-Mall development strategy and contributes to much of its success during the 2020 6.18 shopping festival.
In the period leading up to the shopping festival, Glory Star simplified its user shopping process, introduced daily themes, and promoted various product categories to attract the youth demographics. Its promoted product categories, including computer, communication and consumer electronic products, beauty and cosmetic products, and food and beverage products, sold particularly
well during the shopping festival, accounting for 63% of its total platform orders in the period.
Glory Star New Media Group (NASDAQ: GSMG) Partners with JD.com
Published: June 12, 2020 at 9:28 p.m. ET
Jun 12, 2020 (AB Digital via COMTEX) -- Glory Star New Media Group Holdings Limited (NASDAQ: GSMG) 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 peoples’ 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.
GSMG partners with JD.com Inc. (“JD”) is one of China’s largest e-commerce platforms. As part of the partnership with GSMG, the company will develop solutions to help JD fulfill their customers’ needs for premium lifestyle-oriented online content, in the forms of text and short-form videos.
The content production for JD.com is a great addition to Glory Star’s premium digital client lists which includes Tencent, Alibaba, Weibo, Iqiyi as well as traditional consumer brand clients such as Starbucks, Pantene, Louis Vuitton, Samsung and Sony etc.
JD.com is a leading technology driven e-commerce company transforming to become the leading supply chain-based technology and service provider. JD.com is the largest retailer in China, a member of the NASDAQ-100 and a Fortune Global 500
company.
On June 09th, 2020 GSMG announced it has successfully completed content production programs for multiple international luxury brands, including Fendi, Prada, Gucci, and Burberry.
Currently, China has begun to lead the way toward recovery from the COVID-19 pandemic, and Chinese consumers are set to cement their status as crucial growth drivers for the industry going forward. According to Bain & Company’s Luxury Study 2020 Spring Update released in May 2020, Chinese consumers are expected to account for approximately 50%
of the total global market for luxury goods in 2025 compared to 35% in 2019. The total number of China’s upper-middle-class households is expected to reach 350 million by 2025 with a compound annual growth rate of 28% from 2018 to 2025.
As part of Glory Star’s content production strategies with international luxury brands, Glory Star will leverage its award-winning lifestyle content production services and social media platforms to help expand the online presence of these brands in China. Glory Star will also utilize the leading traffic conversion capabilities and extensive
content library of its CHEERS app to enable luxury brands to better penetrate China’s emerging luxury market more effectively.
On May 27th GSMG announced plans to begin production of the third season of its flagship online variety show Hello! Rapper in June 2020. As one of the first music-centric variety shows in China, the inaugural season of Hello! Rapper was produced by GSMG in 2017. The show was an instant online success, collecting over 100 million views. The latest
installment of Hello! Rapper is expected to help Glory Star continue strengthening its ties with China’s youth. On May 11th GSMG announced its financial results for the first quarter ended March 31, 2020.
Glory Star New Media Group (NASDAQ: GSMG) Company Highlights
- Downloads f the CHEERS App1 exceeded 100.5 million as of March 31, 2020, compared to 17.2 million as of March 31, 2019.
- Average daily active users (“DAUs”)2 of the CHEERS App increased to 4.1 million from 0.5 million in the same period of 2019.
- The Company’s e-Mall carried over 9,602 Stock Keeping Units (“SKUs”) as of March 31, 2020, and recorded over RMB40.6 million (US$5.8 million) in gross merchandise value (“GMV”)3 through its CHEERS App in Q1.
- Revenues were US$9.8 million as compared to US$13.8 million in the same period of 2019.
- Income from operations was US$2.9 million as compared to US$4.4 million in the same period of 2019.
Glory Star New Media Group Holdings Limited Completes Content Production Programs for Multiple International Luxury Brands
BEIJING, June 09, 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 that it has successfully completed content production programs for multiple international luxury brands,
including Fendi, Prada, Gucci, and Burberry.
According to the Luxury Goods Worldwide Market Study, Fall-Winter 2019 report produced by Bain & Company, the worldwide demand for luxury goods continued to grow in 2019, which resulted in a global industry worth approximately €281Bn as of the end of the year.
Currently, China has begun to lead the way toward recovery from the CV-19 pandemic, and Chinese consumers are set to cement their status as crucial growth drivers for the industry going forward. According to Bain & Company’s Luxury Study 2020
Spring Update released in May 2020, Chinese consumers are expected to account for approximately 50% of the total global market for luxury goods in 2025 compared to 35% in 2019. Based on data from data for the 2019 McKinsey China Luxury Report, the growth of China’s luxury spending will be primarily driven by a significant uptick of
upper-middle-class households. The total number of China’s upper-middle-class households is expected to reach 350 million by 2025 with a compound annual growth rate of 28% from 2018 to 2025.
As part of Glory Star’s content production strategies with international luxury brands, Glory Star will leverage its award-winning lifestyle content production services and social media platforms to help expand the online presence of these brands in China. Glory Star will also utilize the leading traffic conversion capabilities and extensive
content library of its CHEERS app to enable luxury brands to better penetrate China’s emerging luxury market more effectively.
Mr. Bing Zhang, Chairman and Chief Executive Officer of Glory Star, commented, “We are excited to work with such internationally renowned luxury brands.
These working relationships will allow us to further solidify our leadership as a premium content provider in the high-end segment of the luxury e-commerce market. Meanwhile, our access to world-class brands and expanding library of custom content will further boost user retention, user engagement, and user stickiness on our
platform.
Looking ahead, we are confident that these working relationships will make meaningful contributions to our business expansion efforts as we advance through the rest of 2020 and beyond.”
Conclusion: Five Huge Potential Catalysts For Shareholder Growth In 2020
#1 Potential Catalyst: This is a NASDAQ stock.
#2 Potential Catalyst: The company is part of a red-hot sector with major upside potential.
#3 Potential Catalyst: This company has partnered with one of China's biggest e-commerce platforms.
#4 Potential Catalyst: The company has major revenue potential as 2019 was a record year.
#5 Potential Catalyst: The stock's low float share structure.
Dan davis
Editor | StockStreetWire
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