Glory Star Announces Research Coverage Initiated by Dongxing Securities, With US$6.05 Price Target
Glory Star New Media Group Holdings Limited (NASDAQ: GSMG) ("Glory Star" or the "Company"), a leading digital media platform and content-driven e-commerce company in China, today announced that Dongxing Securities (Hong Kong) has initiated research coverage of Glory Star with price to sales ratio (TTM) of 2.21, a corresponding price target of US$6.05 per share, and a rational valuation of US$409 million.
For a copy of the Report please contact Investment Strategy Department at Dongxing Securities.
Email: is@dxzq.com.hk
Please note that any opinions, estimates, or forecasts regarding the performance of Glory Star and its management made by Dongxing Securities are theirs alone and do not represent the opinions, estimates, or forecasts of Glory Star or its management. Glory Star does not by this announcement or otherwise imply that the Company analyzes or approves of such information, conclusions, or recommendations.
About Glory Star New Media Group Holdings Limited
Glory Star New Media Group Holdings Limited is a leading digital media platform and content-driven e-commerce company 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 people's 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.
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. Such
forward-looking states include, but are not limited to, the Company’s
ability to develop its online retail and SaaS industry value chains,
expand its business relationship with existing clients and continue its
business growth trajectory. 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 the Company's profitability; litigation involving
patents, intellectual property, and other matters; potential changes in
the legislative and regulatory environment; a pandemic or epidemic. The
forward-looking statements contained in this release are also subject to
other risks and uncertainties, including those more fully described in
the Company's filings with the Securities and Exchange Commission. 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.
Contacts
Glory Star New Media Group Holdings Limited
Yida Ye
Email: yeyida@yaoshixinghui.com
ICR LLC.
Robin Yang
Tel: +1 (646) 308-0546
Email: gsnm@icrinc.com