October 3, 2022

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CSCW) Signs Memorandum of Comprehension Regarding Acquisition with Shengcheng Team and Lays Out Program for Provision of Worldwide Know-how-Based Electronic Business enterprise Alternatives

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NEW YORK, Sept. 10, 2021 /PRNewswire/–Coloration Star Technological innovation Co., Ltd. (NASDAQ: CSCW) (hereinafter referred to as “Color Star” or the “Corporation”), an leisure engineering company devoted to the software of technological know-how and synthetic intelligence (AI) in the leisure market, announced these days that its wholly-owned subsidiary, Colour China, signed a memorandum of being familiar with relating to the program to receive Beijing-based mostly Shengcheng System Consulting Co., Ltd. (hereafter referred to as “Shengcheng Group”). In the foreseeable future, Shade Star will implement industrial digitization to software program improvement to recognize the thought of “web + idea” and give marketing and advertising expert services and business solutions for worldwide enterprises.

Launched in 2009, Shengcheng Team is a complete, digital methods and implementation companies supplier for organizations. Due to the fact its establishment, the enterprise has grow to be a leader in the market, and has managed profitability for ten yrs, with organization profits exceeding RMB 100 million for every of 2017 and 2018. The corporation focuses on supplying total solutions for organization administration consulting in the industry of know-how-primarily based electronic advertising. Retaining up with market growth tendencies, the corporation explores and puts into follow a process that brings together B-B-C (small business to organization to customer) and O2O (on line to offline) types. The company’s services include things like digital intelligence method consulting, digital procedure advancement, significant info and intelligent applications, clever operation providers, and organization administration guidance. At current, its key marketplace focus is automotive, delivering professional big facts evaluation and digital transformation products and services for almost 100 automobile makes, like Dongfeng, Nissan, FAW, Toyota, SAIC, and Guangzhou Honda. This 12 months, with the introduction of a new staff, the company expects to make USD 33 million in profits. With sturdy assistance from Coloration Star, it also options to go general public on the Growth Enterprises Market (GEM) in China in the in close proximity to future. Color Star’s merger and acquisition prepare with Shengcheng Team is dependent on careful analysis of the company’s experienced business enterprise model and wide business prospective clients. Next the acquisition, the two businesses will leverage their corporate strengths though cooperating to expand to additional industries and shift toward globalization inside of Coloration Star’s established international network.

Mr. Basil Wilson, CEO of Shade Star, commented: “The digital industry is our key development concentrate, especially in phrases of software package website traffic and massive details assessment. It not only generates an inseparable relationship in between our similar companies, but also supplies other organizations with precise marketing and advertising abilities. Our cooperation with Shengcheng Team is a substantial milestone as we increase our organization products and services into the electronic discipline. As a skilled leisure technological know-how company, Shade Star will also provide extensive electronic marketing and advertising answers for the world’s leading corporations in the in close proximity to future. We believe that this will attract much more curiosity from our expense associates as properly.”

About Shade Star Technologies

Colour Star Engineering Co, Ltd. (Nasdaq CM: CSCW) is an amusement and education and learning firm that gives on the internet entertainment performances and on the net music training expert services. Its enterprise functions are done via its wholly-owned subsidiaries Coloration China Amusement Ltd. And CACM Group NY, Inc. The Firm’s on-line education is presented through its Color Globe tunes and amusement training platform. Far more information about the Company can be identified at www.colorstarinternational.com.

Ahead-Hunting Assertion

This push launch includes forward-wanting statements as defined by the Personal Securities Litigation Reform Act of 1995. Forward-hunting statements involve statements concerning plans, targets, aims, methods, future activities or efficiency, and underlying assumptions and other statements that are other than statements of historical information. When the Firm takes advantage of text these as “may possibly,” “will,” “intend,” “should,” “feel,” “anticipate,” “foresee,” “job,” “estimate” or related expressions that do not relate exclusively to historic issues, it is earning ahead-seeking statements. Ahead-on the lookout statements are not assurance of potential performance and involve dangers and uncertainties that may bring about the genuine final results to differ materially from the Firm’s expectations talked over in the forward-hunting statements. These statements are subject matter to uncertainties and challenges which include, but not constrained to, the following: the Company’s plans and methods the Firm’s potential company advancement merchandise and services demand from customers and acceptance adjustments in technological innovation economic problems the development of the academic and schooling companies marketplace in China and other countries in which CSCW conducts its business standing and model the effects of opposition and pricing government polices fluctuations in standard economic and company circumstances and assumptions underlying or associated to any of the foregoing and other hazards contained in reports submitted by the Organization with the Securities and Trade Fee. For these factors, among some others, traders are cautioned not to spot undue reliance upon any ahead-looking statements in this press release. Additional components are mentioned in the Company’s filings with the U.S. Securities and Exchange Fee, which are accessible for assessment at www.sec.gov. The Corporation undertakes no obligation to publicly revise these forward–looking statements to mirror functions or conditions that occur right after the date hereof except demanded by relevant laws, regulations or policies.

For a lot more details, you should make contact with:
William Tu
Skyline Company Communications Group, LLC
A single Rockefeller Plaza, 11th Ground
New York, NY 10020
Business office: (646) 893-5835
E mail: wtu@skylineccg.com


Perspective original information:https://www.prnewswire.com/news-releases/coloration-star-technology-co-ltd-nasdaq-cscw-signals-memorandum-of-comprehension-pertaining to-acquisition-with-shengcheng-group-and-lays-out-plan-for-provision-of-world-technological know-how-primarily based-electronic-organization-solutions-301373033.html

Source Colour Star Know-how Co., Ltd.

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