Blue Hat Interactive Entertainment Technology (NASDAQ: BHAT), a producer, developer and operator of augmented reality (“AR”) interactive entertainment games, toys and educational materials in China, on Friday released its unaudited financial results for the six months ended June 30, 2020. Among other highlights, the company reported total revenues of $4.9 million and gross profits of $3.7 million for the period. “The outbreak of COVID-19 since the beginning of 2020 has adversely impacted the global economy and our financial performance in the first half year was negatively affected as a result of the suspension of the entire industry. With daily life in China gradually returning to normal since April, our business related to education industry ramped up during the period,” Blue Hat CEO Xiaodong Chen stated in the news release. “I’m pleased that our thriving smart education business line made a significant addition to our portfolio. ‘AR Immersive Classes’ (‘ARIC’), integrated with physical exercises in terms of AR-based educational content and products, targets children between three and six years old. Interactive education combines teaching with entertainment, inspiring kids with imagination and critical thinking. We build Direct-to-Consumer social content marketing channels via short videos and live streaming to increase our brand awareness, and broaden our market reach. Looking forward, we intend to continue to explore both in-house development and strategic investment opportunities to strengthen our pipeline of toy and game content and maximize shareholder value.”
To view the full press release, visit http://ibn.fm/2rPuT
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 www.IR.BlueHatGroup.com.
NOTE TO INVESTORS: The latest news and updates relating to BHAT are available in the company’s newsroom at http://ibn.fm/BHAT
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