Glory Star Signs API Platform Service Agreement with Ofpay

BEIJING, Sept. 15, 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 signed an API platform service agreement with Jiangsu Xiaoqi Oufei Technology Co., Ltd (“Ofpay”). Ofpay is a subsidiary of Qitian Technology Group Co., Ltd. (SHE: 300061), a leading public company in China’s technical services space.

As part of this agreement, CHEERS users will be able to interface with Ofpay’s telecommunications payment business and vehicle owner services through CHEERS e-Mall platform. Consequently, CHEERS users will be able to pay for their phone bills, mobile data, broadband and landline services, and other telecommunications services while also obtaining access to vehicle owner services such as prepaid gas and other energy product services, traffic ticket search, and more.

Mr. Bing Zhang, Founder and Chief Executive Officer of Glory Star, commented, “We are pleased to announce our cooperation with Ofpay and excited to provide our users with a broader array of services. We are confident that this cooperation will enable us to complete the construction of our traffic portal for lifestyle consumption scenarios. As such, this cooperation thus signals our entrance into China’s market for digital commodity services, which is growing rapidly with great development potential. In light of our expanded scenarios for lifestyle consumption, we believe that CHEERS e-Mall platform will achieve strong top-line performance growth and significantly improve in terms of both market share and competitive positioning going forward.”