Glory Star’s Customer Mining Method and System Awarded China National Invention Patent
September 12 2023 - 7:00AM
Glory Star New Media Group Holdings Limited, ("Glory Star", the
"Company" or "we") (NASDAQ: GSMG), a leading provider of
next-generation mobile internet infrastructure and platform
services, today announced the acquisition of an invention patent
certificate from the National Intellectual Property Administration.
The patent, granted to Glory Star's subsidiary CHEERS, is titled
"Customer Mining Method and System Based on Customer Behavioral
Characteristics," which propels the Company to the forefront of
technological innovation in the field of customer acquisition.
This patent marks a significant milestone, underscoring Glory
Star's unwavering commitment to research and development
excellence. It encompasses a comprehensive range of cutting-edge
features, including data collection, data preprocessing and
analysis, customer clustering and mining, and result visualization.
By harnessing the power of data analysis and AI technology,
businesses gain unparalleled insights into customer needs and
behavioral patterns, enabling them to enhance market
competitiveness and elevate customer satisfaction to new
heights.
"We are thrilled to have achieved this national invention patent
for our revolutionary Customer Mining Method and System," Mr. Bing
Zhang, Chairman and CEO of the Company, commented. "This
prestigious recognition validates our position as a technological
powerhouse, blazing trails and reshaping the industry with our
innovative solutions. Our patent solidifies our leadership in
delivering transformative technologies to our valued clients."
About Glory Star
As a preeminent provider of next-generation mobile internet
infrastructure and platform services in China, Glory Star is
dedicated to building a digital ecosystem that integrates
"platforms, applications, technology, and industry" into a cohesive
system, thereby creating a new, open business environment for
web3.0 that leverages AI technology. The Company is developing a
5G+VR+AR+AI shared universe space that builds on cutting-edge
technologies including blockchain, cloud computing, extended
reality, and digital twin.
Glory Star's portfolio includes a wide range of products and
services, such as Polaris Intelligent Cloud, CHEERS Telepathy,
CHEERS Open Platform, CHEERS Video, CHEERS e-Mall, CheerReal,
CheerCar, CheerChat, CHEERS Fresh Group-Buying E-commerce Platform,
Digital Innovation Research Institute, CHEERS Livestreaming,
variety show series, IP short video matrix, and more. These
offerings provide diverse application scenarios that seamlessly
blend "online/offline" and virtual/reality" elements.
With "CHEERS+" at the core of Glory Star's ecosystem, the
Company is committed to consolidating and strengthening its core
competitiveness, and achieving long-term sustainable and scalable
growth.
For more information, please visit http://ir.gsmg.co/.
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; the occurrence of any event, change or other
circumstances that could affect the Company's ability to continue
successful development and launch of its metaverse experience
centers; the possibility that the Company may not succeed in
developing its new lines of businesses due to, among other things,
changes in the business environment and technological developments,
competition, changes in regulation, or other economic and policy
factors; disruptions or other business interruptions that may
affect the operations of our products and services, the possibility
that the Company's new lines of business may be adversely affected
by other economic, business, and/or competitive factors; other
factors, risks and uncertainties set forth in documents filed by
the Company with the Securities and Exchange Commission from time
to time, including the Company's latest Annual Report on Form 20-F
filed with the SEC on March 22, 2023, as amended. 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.
For investor and media inquiries, please contact:
Wealth Financial Services LLC
Connie Kang, Partner
Email: ckang@wealthfsllc.com
Tel: +86 1381 185 7742 (CN)
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