Blue Hat Announces a Total of RMB31 Million (Approximately US$4.77 Million) in Direct Deals with China's Top Three Mobile Operators

XIAMEN, China, April 21, 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 the Company's controlling subsidiary Xunpusen (Xiamen) Technology Co., Ltd. ("Xunpusen") has achieved total transaction volume of RMB31 million (approximately US$4.77 million) in direct deals with China's top three mobile operators.

As previously announced in a press release on November 19, 2020, Xunpusen signed an agreement with China Mobile Communications Group Guangdong Co., Ltd. ("China Mobile") for a series of Telecom value-added service and Internet Data Center contracts. As of February 2021, this cooperation has made the most contributions to the aforementioned RMB31 million total transaction volume, which includes transactions from China Mobile's subsidiaries in Zhongshan, Guangzhou, Zhuhai and Heyuan.

Mr. Xiaodong Chen, CEO of Blue Hat, said, "We are pleased with the initial results of our cooperation with China's top three mobile operators following our strategic deployment of Xunpusen. The InternetPlus model of value-added services under data collection and operation creates favorable conditions that bode well for a strong, long-term cooperation in the future and sets a solid foundation for expansion through signing new agreements. We believe that this will help the business continue to grow, which we anticipate will bring more stable and sustainable profit to the Company and enable it to continue to explore additional growth opportunities."

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.

SOURCE Blue Hat Interactive Entertainment Technology

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