XIAMEN, China, April 30, 2021 /PRNewswire/ -- 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 its subsidiary Fujian Zhongqing Hand in Hand Education Technology Co., Ltd. ("Zhongqing") signed a three-year "Augmented Reality Plus", or "AR+," series curriculum cooperation agreement with qualified "urban partnerships" in five different cities at the recently concluded China Education Equipment Exhibition. The five urban partnership cities are: Quanzhou in Fujian Province, Huizhou in Guangdong Province, Danzhou in Hainan Province, Fuzhou in Jiangxi Province, and Yinchuan in the Ningxia Hui Autonomous Region.
An upgrade to, and transition from, the original ARIC system, the AR+ series curriculum is a new series of AR courses based on the immersive AR experience courses launched by Zhongqing over the past six months, including full-thinking courses, little leaders courses, physical fitness courses, and safety and self-care courses.
Blue Hat has received cash deposits of between RMB20,000 and RMB50,000 from each of these urban partnership cities for the implementation of Blue Hat's AR+ series curriculum in their cities. Blue Hat expects to implement its AR+ courses in 70 schools in 2021 and plans to sign similar cooperation agreements with other cities in the future, with the goal of reaching 10 city partnerships in the near future. The AR+ series curriculum is expected to be rolled out to approximately 150 schools within the five urban partnerships announced today.
Mr. Xiaodong Chen, CEO of Blue Hat, stated, "We believe the urban partnership model presents an opportunity for Blue Hat to further promote our AR immersive courses by expanding and tapping into additional marketing resources. Following the development and initial launch of these new ARIC courses over the past six months, we have continued to expand our offerings with new methodologies and content to enhance the ARIC system. We believe our AR+ series curriculum and new urban partnership plan will yield favorable results as we roll it out and create additional growth opportunities for new partnerships over the long term."
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
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