Tag Archives: TOY

Breaking Boundaries: Haivivi Innovates with BubblePal, Redefining Interactive Toys

SINGAPORE, Aug. 9, 2024 /PRNewswire/ — The AI toy startup Haivivi has launched BubblePal, a groundbreaking interactive toy powered by AIGC technology—the first of its kind worldwide. This innovative product harnesses advanced AI large language model(LLM) technology to enrich children’s development and provide emotional support. BubblePal excels in multi-character interactions and multilingual communication, setting a new standard in interactive storytelling. 

Founded with a vision to create exceptional experiences for children, Haivivi traces its roots to a pivotal moment in 2017 when insights from a smart speaker revealed a child’s poignant question: “Does my mom love me?” This revelation underscored the need for technological solutions that cater to the innocent and vibrant world of children, which inspired Haivivi to pioneer delightful toys using cutting-edge AI technology. BubblePal, with its mushroom-shaped silicone design and versatile strap, adapts to various plush toys, featuring TYPE-C charging and up to 4 hours of usage time.

Empowered by advanced AI capabilities, BubblePal acts as a comprehensive “super encyclopedia,” responding to children’s inquiries and nurturing curiosity and imagination. With its LLM technology and emotion recognition algorithms, BubblePal intuitively senses children’s emotions, offering empathetic companionship through educational challenges and daily adventures.

Psychologist Lev Vygotsky’s sociocultural theory emphasizes the pivotal role of social interaction in cognitive development, particularly through meaningful communication with adults and peers. In today’s fast-paced world, BubblePal bridges this gap for working parents, ensuring consistent high-quality interaction with their children.

An outstanding feature of BubblePal is its interactive storytelling mode, where children collaborate in crafting unique narratives. Unlike conventional story players, BubblePal stimulates creativity and cultivates thinking skills, fostering positive habits and personality development.

Haivivi’s competitive edge lies in its deep understanding of children’s needs and innovative application of AI LLM technology. Led by CEO Li Yong and COO Gao Feng, veterans in internet and hardware industries, Haivivi integrates LLM technology into plush toys, ushering in a new era of intelligent educational and emotional support toys. These toys evolve with each interaction, truly embodying the ethos of “the more you engage, the more it understands.”

In less than two years in the AI toy sector, Haivivi has garnered investments from prestigious venture capital firms and industry leaders, including funds associated with luminaries like professors Gao Bingqiang and Li Zexiang.

With pioneers like Haivivi shaping the AI toy landscape, the traditional toy industry stands poised for transformative change. The future holds boundless opportunities!

Priced at $89, BubblePal is now available on Haivivi’s official website (www.haivivi.com).

Media Contact: Grace Rossi, xiaoman@haivivi.com

metaDog – Your Lifelike Companion Robot

SHENZHEN, China, March 23, 2024 /PRNewswire/ — Elephant Robotics is proud to introduce metaDog, the latest innovation in robotic companionship, set to launch globally on March 22nd. Designed to bridge the gap between technology and emotion, metaDog isn’t just a robot; it’s a loyal companion, ready to bring joy and comfort into your life like never before.

metaDog - Your Interactive Robo-Dog Companion
metaDog – Your Interactive Robo-Dog Companion

At the heart of MetaDog’s appeal lies its lifelike interaction. Inspired by the popular Husky and Shiba Inu breeds, metaDog boasts an incredibly realistic appearance and feel. From its soft fur to its tongue and active tail movements, every detail has been carefully crafted to emulate the charm and warmth of a real puppy.

But what truly sets metaDog apart is its ability to respond to touch and sound, creating a truly immersive experience for users. Its dynamic head movements and expressive eyes make it feel like a living, breathing companion, capable of engaging with you in meaningful ways.

With vivid sounds and actions, metaDog comes to life in your home, responding to your voice commands with adorable animations. metaDog is always there to listen and interact, providing endless moments of joy and companionship.

metaDog can imitate a real dog’s blinking, squinting, and eye movements, adding an extra layer of realism to your interactions. With over 30 voice commands at your disposal, you can engage with metaDog in rich emotional exchanges, fostering a deep bond. With up to 12 hours of battery life, you can enjoy uninterrupted companionship with metaDog throughout the day.

metaDog offers an option for people who can not have a real puppy for various reasons. Living restrictions, allergies, or other factors, those unable to have a real puppy can still enjoy companionship and joy with metaDog. With its customizable features and interactive app, metaDog becomes more than just a robot.

Whether you’re a tech enthusiast, a pet lover, or simply someone looking for a companion, metaDog has something to offer everyone.

Experience the future of companionship with metaDog – the ultimate companion robot.

metaDog: bit.ly/43xJAUT
Elephant Robotics: bit.ly/43vFpsJ 

Media Contact:
Name: metaAnimal Team
Phone: +86 181-2384-1923
Email: media@elephantrobotics.com
Elephant Robotics

Smoosat’s New E9 PRO Electric Scooter for Kids Tops Amazon New Releases Chart

LOS ANGELES, Jan. 8, 2022 — Smoosat, an up-and-coming scooter brand dedicated to providing the greatest scooter-riding experiences for everyone, has officially launched its E9 PRO Electric Scooter for Kids on Amazon. Since launching at the end of 2021, the Smoosat E9 PRO has already gained widespread traction amongst customers and shot to Top 3 on Amazon’s hot new releases list.

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With its vibrant rainbow light display and adjustable height and speed settings, Smoosat’s E9 PRO is perfect for children of all ages, making it a popular gift option and a creator of happy moments for families. The 5-color flashing rainbow LED lights along the deck of the scooter give kids the freedom to switch between different colors and create unforgettable memories, while three adjustable height settings make the E9 PRO suitable for children as small as 3’9” to teens as tall as 5’3”. During the ride, kids can quickly move between three speeds — 5mph, 8mph and 10mph — with a single press of the button, and check their battery level and riding speed via the LED display, a first-of-its-kind design on the market.

"Here at Smoosat, we make scooters because we simply love scooters. Over the past year, we have completed comprehensive upgrades to our technology and product portfolio based on independent R&D, as we seek to bring enjoyable green travel solutions to families worldwide. A Smoosat scooter is not just a commuting tool or a short-lived toy, but an all-ages-loved-and-trusted companion that embodies the spirit of smooth and joyful travel. We have seen so many families step away from screens and answer the call of wild with Smoosat scooters — forming stronger family bonds in the process!" said Laura Leonard, General Manager of Smoosat.

On top of its eye-catching appearance and versatile settings, the E9 PRO gives parents greater peace of mind with its safe and durable design. Thanks to its 130W brushless motor and 21.6V rechargeable lithium-ion battery, the scooter lasts up to 5 miles on a single charge. The E9 PRO also features a rear foot brake for a smooth and safe stop, as well as a lightweight foldable design for easy transportation and assembly.

The E9 PRO is the first of its kind to be released by Smoosat, an up-and-coming scooter brand that wants to bring the joy of smoothly sliding to everyone. With its genius engineering, a keen eye for design, and sincere customer service, Smoosat provides high-quality and safe products for all members of the family — all at an affordable price.

The Smoosat E9 PRO (Black) is priced at $219.97 and is available for purchase now on Amazon. In addition, the scooter will be available as a Lightning Deal on Amazon on January 8, with 99 scooters up for grabs at a discounted price of $179.97. To order a black Smoosat E9 PRO, please visit  https://amzn.to/3sYpanS; or visit https://amzn.to/3f1zbbv for a Pink one, or search Electric Scooter for Kids on Amazon.

In addition to the E9 PRO, Smoosat has also released the new Smoosat MAX adult electric scooter and Smoosat S8 kick scooter in green and silver.

About Smoosat 

Smoosat is dedicated to providing the greatest scooter-riding experience to everyone, no matter how young or old. Smoosat scooters are not just a commuting tool or a short-lived toy, but an all-ages-loved and family-trusted companion that embodies the spirit of smooth and joyful gliding.

Smoosat’s products combine genius engineering with slick design and sincere customer service, in order to deliver high-quality family-friendly products at a Real price for Real fun. Smoosat’s current portfolio includes the E9 PRO electric scooter for kids, MAX adult electric scooter, and S8 kick scooter. For more information, please visit https://ismoosat.com/.

Or follow us on social media:

Facebook: https://www.facebook.com/smoosatscooter/ 
Instagram: https://www.instagram.com/smoosat_official/ 
YouTube: https://www.youtube.com/channel/UCEod2A8xkTsIPVIkqaX0Bsg  
TikTok: @Smoosat_Official

BANDAI NAMCO Group’s Co-creation Program, “GUNDAM x Future Technology,” to Face Social Issues; “GUNDAM OPEN INNOVATION” Application Period Extended

TOKYO, Sept. 24, 2021 — Special Content from Directors behind Yokohama’s "moving GUNDAM" Available through Official Website; New Application Period: July 15-October 15, 2021

(Logo: https://kyodonewsprwire.jp/prwfile/release/M106357/202109170267/_prw_PI3fl_2oD6kv0W.png)

BANDAI NAMCO Group has begun a GUNDAM-powered, sustainability project, "GUNDAM UNIVERSAL CENTURY DEVELOPMENT ACTION (GUDA)," and brought together fans worldwide along with many external partners to plan and take upon a variety of initiatives for the children of the future. As part of the initiative, "GUNDAM OPEN INNOVATION" was established in an effort to gather new ideas and technologies that can face the many issues found within society such as population and global environmental problems. To further promote the initiative, a decision has been made to extend the application period for one additional month.

(Image: https://kyodonewsprwire.jp/prwfile/release/M106357/202109170267/_prw_PI1fl_BQtyIoUN.jpg)

Official Website: https://www.bandainamco.co.jp/guda/goi/en/

What is "GUNDAM OPEN INNOVATION"?

"GUNDAM OPEN INNOVATION" is a program to create future dreams and hopes by revisiting the similarities between the real world and the fictional era of GUNDAM, the "Universal Century," and merging "GUNDAM" with "future technologies" to face the social issues that exist in both worlds.

The vast world of GUNDAM is filled with untapped technologies and possibilities that have yet to become reality. Under the concept of bringing creativity, knowledge, and passion together to bring these fictional technologies and possibilities into reality, an open invitation is being extended to the public to gather innovative ideas and technologies under the theme and field of sustainability to face subjects pertaining to a futuristic society, such as population and global environmental issues, along with looking into space as a viable frontier.

An initial invitation for application was announced back in July this year, with the first-phase deadline set on Sunday, August 15, and a second-phase application deadline set on Wednesday, September 15. An overwhelming amount of applications was received, with many requests for an extended deadline. Under the concept of receiving as many ideas as possible, a third-phase deadline has been decided and set for Friday, October 15, with hope of seeing more ideas to come.

During this opportunity, BANDAI NAMCO would like everyone around the world to consider applying. The initiative is open to everyone worldwide as BANDAI NAMCO looks for a brighter place in the future.

"GUNDAM OPEN INNOVATION" interview video by Chief GUNDAM Officer (CGO), Koji Fujiwara, and the directors of the Yokohama "moving GUNDAM"

An interview video is now available to the public, featuring BANDAI NAMCO Entertainment Corporate Managing Director and CGO, Koji Fujiwara, who is hosting "GUNDAM OPEN INNOVATION," and the directors behind the "moving GUNDAM" that was built last year in Yokohama: Akinori Ishii, Wataru Yoshizaki (Asratec Corp. Director and Chief Robot Creator), and Masaki Kawahara (NOMURA Co., Ltd. Content Integration Center/NOTORA Creative Director).

In the interview, Yoshizaki mentions that, should he participate in the "GUNDAM OPEN INNOVATION" initiative, he would like to develop a machine that recreates the robotic movements depicted within the GUNDAM series such as Zaku’s dexterous and delicate finger motions.

Fujiwara makes mention that, instead of merely recreating the scenes from the GUNDAM brand, he would like to focus on matters that can lead to causes of good, while finding solutions to societal issues under the main objective of "GUNDAM OPEN INNOVATION," which is to incorporate the charm of the GUNDAM brand so that its initiatives can spread throughout the world.

The interview also brings up what the future of GUNDAM holds and how BANDAI NAMCO pushed out the GUNDAM brand in the form of products and services. Fujiwara mentions that, by communicating with GUNDAM fans, he would like to grow GUNDAM from being an IP (Intellectual Property) into an SP (Social Property), an iconic figure for society.

Official "GUNDAM OPEN INNOVATION" website: https://www.bandainamco.co.jp/guda/goi/en/

"GUNDAM OPEN INNOVATION" will be looking forward to many co-creative plans to bring about a vision that will create a sustainable future society with GUNDAM.

*The information herein represents the information according to the date of the press release. Information may be updated without notice after release.

Copyright: https://kyodonewsprwire.jp/prwfile/release/M106357/202109170267/_prw_PI2fl_WWhkh59r.jpg

Related Links :

https://www.bandainamco.co.jp/

Blue Hat Announces First Quarter 2021 Financial Results, Highlighted by 343% Increase in Revenues to $9.9 Million and 62% Increase in Net Income to $1.2 Million

XIAMEN, China, May 5, 2021 — Blue Hat Interactive Entertainment Technology ("Blue Hat" or the "Company") (NASDAQ: BHAT), a leading producer, developer and operator of augmented reality ("AR") interactive entertainment games, toys and educational materials in China, today announced its unaudited financial results for the quarter ended March 31, 2021.

First Quarter 2021 Financial Highlights

  • Total revenues of US$9.9 million, compared to US$2.2 million in the first quarter of 2020, driven by increased sales across all lines of business particularly the mobile games and communication services businesses, which saw strong growth following the strategic acquisitions of Xunpusen Technology Co., Ltd. ("Xunpusen") in late 2020 and Fuzhou Csfctech Co., Ltd. ("Csfctech") and its two subsidiaries in January 2021
  • Gross profit of US$4.1 million, up 143.8% from US$1.7 million in the first quarter of 2020
  • Income from operations of US$1.7 million, up 96.7% from US$0.9 million in the first quarter of 2020
  • Net income of US$1.2 million, up 62.0% from US$0.8 million in the first quarter of 2020
  • US$14.7 million in cash and cash equivalents at March 31, 2021

Management Commentary

Mr. Xiaodong Chen, CEO of Blue Hat, stated, "We were pleased with the strong performance across all of our business segments, which resulted in phenomenal top line growth driven by US$5.3 million in contributions from our new IDC business and by a US$2.4 million increase in contributions from mobile games following our acquisition of 51% of Csfctech and its two subsidiaries in January 2021. We achieved 62.0% growth on the bottom line to US$1.2 million during the period and anticipate margins will improve over the course of 2021 as our businesses continue to grow and the expenses normalize from initial highs. We recently announced the official launch of our new AR+ series curriculum, which is an upgrade from our original Augmented Reality Immersive Classes ("ARIC") and has been developed and tested over the past six months. We expect the five urban partnerships that we have signed for the AR+ series curriculum will accelerate the future growth of our AR education business. We are beginning to see tangible results from this development that has strengthened the foundation of our business over the course of the past year, and we anticipate it will provide us with significant long-term growth potential for our product and service offerings."

Recent Operating Highlights

  • In April 2021, Blue Hat signed a two-year licensing agreement with Tencent QQ ("QQ") to use its intellectual property, specifically, the QQ penguin logo and QQ emoji, on Blue Hat’s toy products and related marketing materials, effective March 1, 2021. QQ launched in 1999 and has become one of the most commonly used instant messenger applications in China. According to QQ’s self-disclosed report, there were approximately 617 million active monthly users on their messenger application in 2020. The QQ penguin logo and QQ emoji are dominantly recognizable in Chinese pop culture.
  • In April 2021, Blue Hat announced that its subsidiary company, Fujian Zhongqing Hand in Hand Education Technology Co., Ltd. ("Zhongqing") signed a three-year cooperation agreement of "Augmented Reality Plus", or "AR+" series curriculum with five partners in different cities: Quanzhou in Fujian Province, Huizhou in Guangdong Province, Danzhou in Hainan Province, Fuzhou in Jiangxi Province, and Yinchuan in the Ningxia Hui Autonomous Region. We anticipate rolling out this new curriculum to approximately 150 schools in these five regions as part of this partnership.

First Quarter 2021 Results

Total revenues were US$9.9 million for the quarter ended March 31, 2021, an increase of US$7.7 million, or 343.1%, compared to US$2.2 million in the first quarter of 2020. The significant revenue growth was primarily attributable to increased contributions from Blue Hat’s two recently acquired subsidiaries, Xunpusen in late 2020 and Csfctech in early 2021.

Revenues from sales of interactive toys (game series) were US$1.9 million for the quarter ended March 31, 2021, compared to US$1.7 million in the first quarter of 2020.

Revenues from sales of interactive toys (animation series) were US$0.09 million for the quarter ended March 31, 2021, a significant increase from zero in the first quarer of 2020.

Revenues from mobile games were US$2.4 million for the quarter ended March 31, 2021, an increase of US$1.9 million, or 315.2%, following the closing of the Csfctech acquisition during the period.

Revenues from AR education, previously included under interactive toys (animation series), were US$0.2 million for the quarter ended March 31, 2021. Growth in the AR education business has been primarily driven by the roll-out and implementation of Blue Hat’s ARIC system to various schools through 2020 and into 2021.

Revenues from communication services were US$5.37 million for the quarter ended March 31, 2021. The gain was due to the acquisition of Xunpusen in the second half of 2020.

Gross profit was US$4.1 million for the quarter ended March 31, 2021, an increase of 143.8% from US$1.7 million in the first quarter of 2020. Gross margin for the five different business lines were as follows:

  • Interactive toys (animation series): 65.6%, or US$0.06 million
  • Interactive toys (game series): 53.6%, or US$1.0 million
  • Mobile games: 84.5%, or US$2.1 million
  • AR education: 97.2%, or US$0.2 million
  • Communication services: 13.9%, or US$0.7 million

Total gross margin was 41.1% for the quarter ended March 31, 2021, compared to 74.6% in the same period last year. The decrease was due to higher initial costs associated with establishing new business lines, such as licensing costs and copyright costs, among others.

Total operating expenses were US$2.3 million for the quarter ended March 31, 2021, which includes expenses from Csfctech and its two subsidiaries, compared to US$0.8 million in the first quarter of 2020.

Income from operations was US$1.7 million for the quarter ended March 31, 2021, compared to US$0.9 million in the first quarter of 2020.

Net income was US$1.2 million, up US$0.57 million, or 62.0%, from US$0.85 million in the first quarter of 2020. The increase was primarily driven by strong revenue growth, which more than offset an increase in operating expenses. 

Diluted earnings per share were US$0.024 for the quarter ended March 31, 2021, compared to US$0.022 for the first quarter of 2020. During the first quarter of 2021, the Company completed a registered direct offering with two institutional investors for the purchase and sale of 7.16 million ordinary shares at a price of $1.06 per share, resulting in total gross proceeds of approximately $7.59 million before deducting the placement agent’s fees and other offering expenses. The net proceeds is approximately $6.8 million.

Balance Sheet Highlights

As of March 31 2021, Blue Hat had cash and cash equivalents of US$14.7 million, working capital of US$34.6 million and total shareholders’ equity of US$75.5 million, compared to cash and cash equivalents of US$15.8 million, working capital of US$34.0 million, and total shareholders’ equity of US$58.9 million, respectively, at December 31, 2020.

About Blue Hat

Blue Hat Interactive Entertainment Technology is a producer, developer and operator of AR interactive entertainment games and toys in China, including interactive educational materials, mobile games, and toys with mobile game features. Distinguished by its own proprietary technology, Blue Hat aims to create an engaging, interactive and immersive community for its users. For more information, please visit the Company’s investor relations website at http://ir.bluehatgroup.com. The Company routinely provides important information on its website.

Forward-Looking Statements 

This release contains forward-looking statements within the meaning 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 uncertain as they are based on current expectations and assumptions concerning future events or future performance of the Company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the Company’s SEC filings. These risks and uncertainties could cause the Company’s actual results to differ materially from those indicated in the forward-looking statements.

Contacts:

Blue Hat Interactive Entertainment Technology
Phone: +86 (592) 228-0010
Email: ir@bluehatgroup.net

Investor Relations:

The Equity Group Inc.                                 
Carolyne Y. Sohn, Vice President              
(415) 568-2255                                             
csohn@equityny.com                                   

In China
Lucy Ma, Associate
+86 10 5661 7012
lma@equityny.com

 

BLUE HAT INTERACTIVE ENTERTAINMENT TECHNOLOGY AND SUBSIDIARIES
UNAUDITED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME

For the Three Months Ended March 31,

2021

2020

Revenues

$

9,941,407

2,243,658

Cost of revenue

5,859,847

569,489

Gross profit

4,081,560

1,674,169

Operating expenses:

Selling

580,046

173,150

General and administrative

1,315,777

539,710

Research and development

444,211

76,051

Total operating expenses

2,340,034

788,911

Income from operations

1,741,526

885,258

Other income (expense)

Interest income

194

377

Interest expense

(137,615)

(72,607)

Other finance expenses

(40,970)

(57,749)

Other income, net

30,509

18,534

Total other (expense) income, net

(147,882)

(111,445)

Income before income taxes

1,593,644

773,813

Provision for income taxes

363,146

14,440

Net income

1,230,498

759,373

Other comprehensive income (loss)

Foreign currency translation adjustment

(366,176)

(605,360)

Comprehensive income

$

864,322

154,013

Less: Comprehensive income attributable to non-controlling
interests

527,194

Comprehensive income attributable to Blue Hat Interactive Entertainment shareholders

337,128

154,013

Weighted average number of ordinary shares

Basic

47,127,200

35,141,114

Diluted

52,012,580

35,141,114

Earnings per share

Basic

$0.026

$0.022

Diluted

$0.024

$0.022

 

BLUE HAT INTERACTIVE ENTERTAINMENT TECHNOLOGY AND SUBSIDIARIES

UNAUDITED CONSOLIDATED BALANCE SHEETS

March 31,

December 31,

ASSETS

2021

2020

Current assets:

Cash and cash equivalents

$

14,674,783

$

15,800,563

Restricted cash

Short-term investments

Accounts receivable, net

28,535,745

16,594,533

Accounts receivable – related party

1,906,101

Other receivables, net

21,181,096

14,350,223

Other receivables – related party

Inventories

168,346

117,075

Prepayments, net

5,238,393

1,917,780

Total current assets

69,798,363

50,686,275

Property and equipment, net

4,342,565

4,258,121

Other assets:

Prepayments

7,205,230

4,164,274

Operating lease, right-of-use asset

355,805

290,410

Intangible assets, net

26,784,385

14,252,575

Long-term investments

1,826,123

1,914,668

Deferred tax assets

252,564

119,127

Goodwill accounting

213,688

Total other assets

36,637,795

20,741,054

Total assets

$

110,778,723

$

75,685,450

LIABILITIES AND SHAREHOLDERS’ EQUITY

Current liabilities:

Short-term loans – banks

$

4,338,151

$

5,129,295

Current maturities of long-term loans – third party

14,117

Accounts payable

3,110,529

935,588

Convertible bonds payable

54,150

739,189

Other payables and accrued liabilities

16,470,149

1,846,917

Other payables – related party

25,677

25,837

Operating lease liabilities – current

283,352

300,468

Customer deposits

756,945

941,877

Accrual interest payable

751,641

Taxes payable

9,394,094

6,802,454

Total current liabilities

35,184,688

16,735,742

Other liabilities:

Operating lease liability

85,493

Long-term loans – third party

Total other liabilities

85,493

Total liabilities

35,270,181

16,735,742

COMMITMENTS AND CONTINGENCIES

Shareholders’ equity

Ordinary shares, $0.001 par value, 100,000,000 shares
authorized, 47,127,200 shares issued and outstanding as of March
31, 2021, and 38,553,694 shares issued and outstanding as of
December 31, 2020

 

 

 

47,127

 

 

 

38,554

Stock subscription receivable

Additional paid-in capital

31,453,071

23,466,482

Statutory reserves

2,204,174

2,204,174

Retained earnings

32,090,702

31,387,398

Accumulated other comprehensive income (loss)

1,375,520

1,741,696

Total Blue Hat Interactive Entertainment Technology shareholders’ equity

67,170,594

58,838,304

Non-controlling interests

8,337,948

111,404

Total equity

75,508,542

58,949,708

Total liabilities and shareholders’ equity

$

110,778,723

$

75,685,450

 

Related Links :

http://www.bluehatgroup.net

Riva Technology and Entertainment signs brand licensing deal with Global toy giant MGA Entertainment

LOS ANGELES, April 12, 2021 — Riva Technology and Entertainment (RTE) announced that they have signed multiple brand licensing deals with toy industry leader, MGA Entertainment (MGAE), to develop and publish mobile games based on the global toy company’s hit properties L.O.L. Surprise!™ and Rainbow High™.

Riva Technology and Entertainment signs brand licensing deal with Global toy giant MGA Entertainment
Riva Technology and Entertainment signs brand licensing deal with Global toy giant MGA Entertainment

RTE are veterans in the gaming and IP business, having built gaming companies for over 20 years, along with securing and developing top licensing deals ranging from Hollywood, Bollywood, Sports and all the way to the world’s leading brands.

MGA Entertainment’s L.O.L. Surprise!™ is a global phenomenon, winning the prestigious "Toy of the Year" Award for three years. MGA’s newly launched Rainbow High debuted in 2020 and has already become a cultural phenomenon with a presence across product, content and integrated digital media.

The global gaming market valued at USD $162.32 billion in 2020 and expected to reach USD $295.63 billion by 2026. Mobile gaming generated $13.2 billion U.S. dollars in revenue in 2019.

"MGA boasts a diversified portfolio of leading brands, and they build fantastic award-winning toys. Our vision of bridging the world of mobile gaming with consumer products and the toy culture is strongly aligned. I admire them for their consistent growth over the years and the incredible efforts they have accomplished, creating a universe that each of their collections represents. RTE always strive to associate with the biggest and the best and MGAE is certainly that. Details of the upcoming games will be announced soon," said RTE CEO & Founder, Paul Roy.

Isaac Larian, CEO and Founder of MGA Entertainment adds: "We are delighted to partner with RTE who has a proven track record for working with the biggest IPs and delivering top quality results. Our digitally native fans want to experience our award-winning brands across all platforms and mobile gaming is a strategic focus for us in 2021 and beyond. It is MGA’s goal to expand both digital gaming and NFTs in a significant way."

About RTE: 
Founded in 2002, with a global presence from the USA to East Asia, RTE has successfully been delivering the vision of tomorrow for close to 20 years. RTE holds an industry advantage in their ability to take every project from concept to execution; all under one roof. The complementary companies cover location-based entertainment, brand and IP licensing, content, consumer products, gaming & esports.

 

Blue Hat Announces Preliminary 2020 Fourth Quarter Financial Results Highlighted by More Than 70% Increase in Revenue to Approximately US$20 Million

Company to Announce Full 2020 Fourth Quarter and Year-end Financial Results in March 2021

XIAMEN, China, Jan. 29, 2021 Blue Hat Interactive Entertainment Technology ("Blue Hat" or the "Company") (NASDAQ: BHAT), a leading producer, developer and operator of augmented reality ("AR") interactive entertainment games, toys and educational materials in China, today announced preliminary unaudited financial results for the fourth quarter ended December 31, 2020.

Fourth Quarter 2020 Highlights

  • Total revenues increased more than 70% to approximately US$20 million, compared to US$11.8 million in the prior-year period, primarily driven by the Company’s new Internet Data Center ("IDC") business, which saw significant growth following the strategic acquisition of Xunpusen Technology Co., Ltd. ("Xunpusen") in the second half of 2020.
  • Revenues for the period do not include contributions from the recently announced acquisition of 51% of Fuzhou Csfctech Co., Ltd. and its two subsidiaries.

The Company anticipates releasing its fourth quarter and full-year 2020 financial results in March 2021.

Management Commentary

Mr. Xiaodong Chen, CEO of Blue Hat, stated, "We are pleased with the top-line growth achieved during the 2020 fourth quarter. This was primarily driven by revenues from our strategic acquisition of Xunpusen, which has set a strong foundation for us to be able to execute an effective sales and marketing strategy for our AR, education, and mobile game products by leveraging their expertise in enterprise software solutions and mobile sales to promote products directly to customers. Xunpusen’s partnership with China Mobile, announced in November of last year, will serve to increase these sales channels and strengthen Blue Hat’s brand as a recognized leader in interactive entertainment and education technologies and implementation."

Mr. Chen continued, "We have invested in the establishment and expansion of our new IDC business to support the sales and marketing efforts of our AR, education, and mobile game offerings, and while we are in the early stages of executing on this growth strategy, we are seeing tangible results from these efforts. We anticipate our operating margins will improve over time as we continue to sign new agreements for our AR and mobile game offerings and increase sales of our retail products and interactive education initiatives."

About Blue Hat

Blue Hat Interactive Entertainment Technology is a producer, developer and operator of AR interactive entertainment games and toys in China, including interactive educational materials, mobile games, and toys with mobile game features. The Company’s interactive entertainment platform creates unique user experiences by connecting physical items to mobile devices, which creates a rich visual and interactive environment for users through the integration of real objects and virtual scenery. Distinguished by its own proprietary technology, Blue Hat aims to create an engaging, interactive and immersive community for its users. For more information, please visit the Company’s investor relations website at http://ir.bluehatgroup.com. The Company routinely provides important information on its website.

Forward-Looking Statements 

This release contains forward-looking statements within the meaning 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 uncertain as they are based on current expectations and assumptions concerning future events or future performance of the Company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the Company’s SEC filings. These risks and uncertainties could cause the Company’s actual results to differ materially from those indicated in the forward-looking statements.

Contacts:

Blue Hat Interactive Entertainment Technology

Phone: +86 (592) 228-0010

Email: ir@bluehatgroup.net

 

Investor Relations:

The Equity Group Inc.   

In China

Adam Prior, Senior Vice President  

Lucy Ma, Associate

(212) 836-9606  

+86 10 5661 7012

aprior@equityny.com    

lma@equityny.com

                                                             

Related Links :

http://www.bluehatgroup.net

Blue Hat Announces Further Growth of Xunpusen Following Company’s Strategic Acquisition in 2020

Subsidiary Reported RMB30 million (USD $4.5 million) in First Four Months; Expects Additional Contracts in Early 2021

XIAMEN, China, Jan. 4, 2021 — Blue Hat Interactive Entertainment Technology ("Blue Hat" or the "Company") (NASDAQ: BHAT), a leading producer, developer and operator of augmented reality ("AR") interactive entertainment games, toys and educational materials in China, today announced that the Company’s operating subsidiary, Xunpusen Technology Co., Ltd. ("Xunpusen"), generated approximately RMB30 million (approximately USD $4.5 million) in revenue in the first four months of operation.

Since its acquisition earlier this year, the Company has continued to develop and utilize Xunpusen’s mobile marketing and hosting expertise to both support and grow Blue Hat’s traditional mobile and gaming business while seeking new channels to expand the Company’s customer base and leverage relationships. 

Xunpusen recently signed a cooperation agreement with China Mobile Communications Group Guangdong Co., Ltd. ("China Mobile") for a series of telecom value-added service and Internet Data Center ("IDC") contracts. IDC is a place to host a group of hosting enterprises, merchants, or web servers, an infrastructure on which models of e-commerce operate securely, and a platform to support businesses and their business alliances in implementing value chain management for their distributors, suppliers and customers.

Specifically, these IDC agreements can enable larger companies to promote and sell products using Xunpusen’s expertise in message marketing and integrated solutions. Following the agreement with China Mobile, both companies have worked to secure agreements from larger multi-national companies in addition to Blue Hat’s existing product portfolio.

The Company believes that Xunpusen’s contribution to revenue could potentially be in excess of RMB100 Million (USD $15.6 million) on an annualized basis.

Mr. Xiaodong Chen, CEO of Blue Hat, stated, "We are very pleased with the development of Xunpusen. Initially, our goal was to utilize direct marketing and sales techniques to further our relationships with larger companies and increase sales of Blue Hat’s core product portfolio. The deployment of 5G technology, coupled with the acceleration of mobile utilization throughout 2020 has also created opportunities in the internet data center business. We expect that the recent agreement with China Mobile will lead to further agreements due to the surge in data volume and the strong downstream demand. We will keep investors closely apprised of our progress."

About Blue Hat

Blue Hat Interactive Entertainment Technology is a producer, developer and operator of AR interactive entertainment games and toys in China, including interactive educational materials, mobile games, and toys with mobile game features. The Company’s interactive entertainment platform creates unique user experiences by connecting physical items to mobile devices, which creates a rich visual and interactive environment for users through the integration of real objects and virtual scenery. Distinguished by its own proprietary technology, Blue Hat aims to create an engaging, interactive and immersive community for its users. For more information, please visit the Company’s investor relations website at http://ir.bluehatgroup.com. The Company routinely provides important information on its website.

Forward-Looking Statements 

This release contains forward-looking statements within the meaning 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 uncertain as they are based on current expectations and assumptions concerning future events or future performance of the Company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the Company’s SEC filings. These risks and uncertainties could cause the Company’s actual results to differ materially from those indicated in the forward-looking statements.

Contacts:

Blue Hat Interactive Entertainment Technology

Phone: +86 (592) 228-0010

Email: ir@bluehatgroup.net

Investor Relations:

The Equity Group Inc.

In China

Adam Prior, Senior Vice President

Lucy Ma, Associate

(212) 836-9606

+86 10 5661 7012

aprior@equityny.com

lma@equityny.com

 

Related Links :

http://www.bluehatgroup.com

Blue Hat Announces New Gaming Products Under Development with Planned Global Launches Throughout 2021

XIAMEN, China, Dec. 16, 2020 Blue Hat Interactive Entertainment Technology ("Blue Hat" or the "Company") (NASDAQ: BHAT), a leading producer, developer and operator of augmented reality ("AR") interactive entertainment games, toys and educational materials in China, today announced that Fuzhou Csfctech Co., Ltd. ("Csfctech") is actively exploring overseas markets and is currently testing five new gaming products for overseas distribution. The Company recently announced the signing of a definitive agreement to acquire 51% of Csfctech and two subsidiaries (Link to Previous Release).

The acquisition of Csfctech is an important step in the development of Blue Hat’s mobile games unit, which along with AR gaming and interactive education make up the three pillars of the Company’s strategy.

Development of Five New Games

The five new gaming products under development are:

  • Qule King of Fishing War, a competitive fish catching game with multiple players to win prizes
  • Qule Battle The Landlord, a music selection puzzle game
  • MOMO Remove, a brain teaser game
  • MOMO Link, a game of casual puzzle elimination
  • MOMO Hexagon, a block matching game

The Company’s development program also includes Fish King War and Fun Two Dozen One, which are two popular chess-themed games that have been tested online on the Google Play platform.

At present, the Qule King of Fishing War has been licensed by more than 200 countries on Google Play, and will be ready to launch outside of China with an initial focus on Asian markets via the App Store.  After launching, the Company also plans to release regional updates for games such as Qule Battle The Landlord. These two games are expected to enter a stable operation phase in 2021 with the average monthly revenue of USD 0.3 million.

In the future, Csfctech’s will launch a series of casual games in the markets outside of China, with constant improvements and new updates to the platformer, hack and slash and other RPG (role-playing game) games once released to improve the market share of each game.

Mr. Jinlin Zhan, founder of Csfctech said, "We have a robust gaming pipeline for 2021. Csfctech has astrong industry competitiveness in terms of research and development, operational experience, channel resources and IP reserves. With the combination of Blue Hat, we can focus on gaining a global footprint for our games as part of a unified strategy going forward. Csfctech has accumulated a wealth of promotional resources in Southeast Asian countries and regions, as well as North America, leveraging the power of such online platforms as Facebook, Admob, Twitter and other platforms."

Mr. Xiaodong Chen, CEO of Blue Hat, stated, "We are confident that we can drive the rapid growth of the gaming business segment. Looking at the moment, the boom in the gaming market is evident, even after the industry shock in the first half of 2020. We saw a rapid increase in the timing of individuals entering the gaming space, which we intend to capitalize on in the coming months.  With the continuous upgrading of the game business and the launch of new products, Csfctech will provide more adequate promotional resources and new gaming content for players. For the already launched online games, we will also invest more energy and capital to provide regular updates that will be both regional and seasonal in nature, and ultimately drive user growth. We believe the totality of all of our efforts will help drive revenue growth, margin expansion, and net profits in our mobile game development segment."

About Blue Hat

Blue Hat Interactive Entertainment Technology is a producer, developer and operator of AR interactive entertainment games and toys in China, including interactive educational materials, mobile games, and toys with mobile game features. The Company’s interactive entertainment platform creates unique user experiences by connecting physical items to mobile devices, which creates a rich visual and interactive environment for users through the integration of real objects and virtual scenery. Distinguished by its own proprietary technology, Blue Hat aims to create an engaging, interactive and immersive community for its users. For more information, please visit the Company’s investor relations website at http://ir.bluehatgroup.com. The Company routinely provides important information on its website.

Forward-Looking Statements 

This release contains forward-looking statements within the meaning 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 uncertain as they are based on current expectations and assumptions concerning future events or future performance of the Company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the Company’s SEC filings. These risks and uncertainties could cause the Company’s actual results to differ materially from those indicated in the forward-looking statements.

Contacts:

Blue Hat Interactive Entertainment Technology

Phone: +86 (592) 228-0010

Email: ir@bluehatgroup.net

Investor Relations:

The Equity Group Inc. 

In China

Adam Prior, Senior Vice President  

Lucy Ma, Associate

(212) 836-9606  

+86 10 5661 7012

aprior@equityny.com      

 lma@equityny.com

 

Related Links :

http://www.bluehatgroup.net

Blue Hat Receives Nasdaq Notification Regarding Minimum Bid Price Deficiency

XIAMEN, China, Nov. 12, 2020 — Blue Hat Interactive Entertainment Technology ("Blue Hat" or the "Company") (NASDAQ: BHAT), a leading producer, developer and operator of augmented reality ("AR") interactive entertainment games, toys and educational materials in China, today announced  it has received a notification letter from The Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that it is not in compliance with the minimum bid price requirement set forth in Nasdaq Listing Rules for continued listing on the Nasdaq Capital Market, since the closing bid price for the Company’s common shares listed on Nasdaq was below US$1.00 for 30 consecutive trading days. Nasdaq Listing Rule 5550(a)(2) requires listed securities to maintain a minimum bid price of US$1.00 per share, and Nasdaq Listing Rule 5810(c)(3)(A) provides that a failure to meet the minimum bid price requirement exists if the deficiency continues for a period of 30 consecutive business days.

The notification has no immediate effect on the listing of the Company’s common shares on Nasdaq.

In accordance with Listing Rule 5810(c)(3)(A), the Company has a period of 180 calendar days from the date of notification, or until May 5, 2021, to regain compliance with the minimum bid price requirement during which time the Company’s ordinary shares will continue to trade on the Nasdaq Capital Market. If at any time before May 5, 2021 the bid price of the Company’s ordinary shares closes at or above US$1.00 per share for a minimum of 10 consecutive business days, Nasdaq will provide written notification that the Company has achieved compliance with the minimum bid price requirement. In the event the Company does not regain compliance by May 5, 2021, the Company may be eligible for additional time to regain compliance or may face delisting.

The Company intends to monitor the closing bid price of its ordinary shares between now and May 5, 2021, and intends to cure the deficiency within the prescribed compliance period.

About Blue Hat
Blue Hat Interactive Entertainment Technology is a producer, developer and operator of AR interactive entertainment games and toys in China, including interactive educational materials, mobile games, and toys with mobile game features. The Company’s interactive entertainment platform creates unique user experiences by connecting physical items to mobile devices, which creates a rich visual and interactive environment for users through the integration of real objects and virtual scenery. Distinguished by its own proprietary technology, Blue Hat aims to create an engaging, interactive and immersive community for its users. For more information, please visit the Company’s investor relations website at . The Company routinely provides important information on its website.

Forward-Looking Statements 
This release contains forward-looking statements within the meaning 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 uncertain as they are based on current expectations and assumptions concerning future events or future performance of the Company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the Company’s SEC filings. These risks and uncertainties could cause the Company’s actual results to differ materially from those indicated in the forward-looking statements.

Contacts:
Blue Hat Interactive Entertainment Technology
Phone: +86 (592) 228-0010
Email: ir@bluehatgroup.net

Investor Relations:

The Equity Group Inc.

In China

Adam Prior, Senior Vice President

Lucy Ma, Associate

(212) 836-9606

+86 10 5661 7012

aprior@equityny.com

lma@equityny.com

 

Related Links :

http://www.bluehatgroup.net