Blue Hat Interactive Entertainment Technology (NASDAQ: BHAT), a leading producer, developer and operator of augmented reality (“AR”) interactive entertainment games, toys and educational materials in China, today announced a strategic collaboration. According to the update, Fujian Youth Hand in Hand Educational Technology Co. Ltd, a joint venture Blue Hat formed with a third party (“Fujian Youth” or the “JV”) and Guangzhou Tongsheng Education Technology Ltd. (“Tongsheng Education”) have reached an agreement to provide Augmented Reality Immersive Classes (“ARIC”) in Guangzhou over a three-year period. The JV will partner with Tongsheng Education with a goal to launch ARIC in a total of 320 preschools (20 the first year, 100 the second year and 200 the third year) in Guangzhou over a course of three years. The move begins Blue Hat’s strategic expansion in the Guangdong -Hong Kong-Macao Greater Bay Area (the “Greater Bay Area”). “This agreement allows us to further strengthen our market presence in the education sector, which along with augmented reality toys and games, are the three main pillars of Blue Hat’s business model,” BHAT CEO Xiaodong Chen said in the news release. “Our ARIC products have been well received since they were introduced to the market. At present, we have actively promoted them in Guangxi, Guangdong and other provinces and continue to build market share and expand our markets geographically. This cooperation provides a solid foundation for continued marketing efforts in the Greater Bay Area. With the continued development of education informatization in the Greater Bay Area and the growing demand for innovative teaching, we are confident to complete the goal of delivering ARIC services to 320 Guangzhou preschools in three years.”
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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 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.
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