One of China’s leading digital media platforms and content-driven e-commerce companies traded in the US markets, Glory Star New Media Group Holdings Limited (NASDAQ: GSMG), announced today the company has received notification from Nasdaq Listing Qualifications Department confirming regained compliance with the minimum bid price requirement of US $1.00 per share under the Nasdaq Listing Rules.
On July 25, 2022, Nasdaq provided confirmation to the Company that for at least 10 consecutive business days, from July 11 to July 22, 2022, the closing bid price of the Company’s ordinary shares has been at $1.00 per share or greater. Accordingly, the Company has regained compliance with Listing Rule 5550(a)(2) and this matter is now closed.
About Glory Star
Glory Star was founded in November 2016 and has developed a unique, new business model that mixes e-commerce services with high-quality video content. In China, the Company has established itself as a significant online digital media and entertainment firm, with a track record of viewership and production capabilities.
In 2017, Glory Star debuted its namesake lifestyle video series, Cheers. The firm also launched CHEERS APP in 2018 to link e-commerce services with professionally-made content. 2021 saw the company launch full independent operation of the CHEERS E-Mall.
Glory Star is a leading market participant in the professionally-generated-video e-commerce industry providing millions of consumers with mobile apps and through third-party platforms. The company has successfully pioneered a new media model with the innovative integration of e-commerce services with premium lifestyle content.
Glory Star’s ability to combine highly engaging content with e-commerce services has allowed the firm to take advantage of China’s mobile live streaming and short-videos markets‘ enormous growth potential while also developing new, unique monetization possibilities.
Glory Star is already preparing for its next chapter in the business and hopes to be able to capitalize on its industry knowledge, vast pool of expert talent, and solid operational performance.
Glory Star’s DNA as a new media pioneer has allowed it to join several fast-growing sectors in China, including advertising, live streaming, and short films, as well as conventional and social e-commerce. More significantly, each of these industries is growing strongly and to the right.