XIAMEN, China, Aug. 26, 2022 (GLOBE NEWSWIRE) — Blue Hat Interactive Entertainment Technology (“Blue Hat” or “the Company”) (NASDAQ: BHAT) introduced that Xiamen Duwei Consulting Management Co., Ltd, a wholly owned subsidiary of the Company, signed a memorandum of understanding with its shareholder of Xiamen Shengruihao Technology Co., Ltd. (“Shengruihao”) to amass 100% of the fairness pursuits of Shengruihao, a firm specialised in product provide chain companies and built-in enterprise companies.
Management Commentary
Mr. Chen Xiaodong, CEO of Blue Hat, mentioned: “I am glad to announce that the Company has started the process to acquire 100% of the equity of Shengruihao through cash transaction. Right now the transaction is undergoing the due diligence review. It is expected to close very soon. the annual turnover of Shengruihao is USD 45 million. After the successful acquisition of Shengruihao, we estimate that it will create a revenue of USD 45-70 million each year for the Company in the future. I believe that Shengruihao’s outstanding achievements in commodity supply chain services can become a catalyst for the Company’s future growth. With the acquisition of Shengruihao, the Company will have stronger profitability and sustainable power to actively explore the market, establish the corporate image and improve the service quality. We will continue looking for acquisition opportunities to keep carrying out our expansion strategy and enhance our competitiveness in the market.”
About Blue Hat
Blue Hat is a main communication companies and IDC business supplier and a producer, developer and operator of AR interactive leisure video games, toys and academic supplies in China. Distinguished by its personal proprietary know-how, Blue Hat goals to create an interesting, interactive and immersive group for its customers. For extra info, please go to the Company’s investor relations web site at http://ir.bluehatgroup.com. The Company routinely offers essential info on its web site.
Forward-Looking Statements
This launch accommodates forward-looking statements inside the that means of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently unsure as they’re based mostly on present expectations and assumptions regarding future occasions or future efficiency of the Company. Readers are cautioned to not place undue reliance on these forward-looking statements, that are solely predictions and communicate solely as of the date hereof. In evaluating such statements, potential traders ought to evaluation rigorously varied dangers and uncertainties recognized on this launch and issues set in the Company’s SEC filings, together with its Annual Report on Form 20-F. These dangers and uncertainties might trigger the Company’s precise outcomes to vary materially from these indicated in the forward-looking statements.
Contacts:
Blue Hat Interactive Entertainment Technology
Phone: +86 (592) 228-0010
Email: [email protected]
