Blue Hat Soars 6% on Cooperation with China Mobile

The news sent shares up 5.98% as of midday.
Benjamin WangNov 19,2020,19:50

Blue Hat Interactive Entertainment Technology (Nasdaq: BHAT) announced Thursday that its subsidiary Xunpusen Technology Co., Ltd. has signed an agreement with China Mobile Communications Group Guangdong Co., Ltd.

The producer and developer of augmented reality interactive entertainment games said in today’s announcement that the cooperation aims to effectively manage customer relations, improve the quality of delivery services, and enhance customer loyalty. Moreover, China Mobile can help the company expand the coverage of the customer base, Blue Hat added.

"Blue Hat's cooperation with China Mobile has broadened new channels for our products, as we immediately began seeing greater traffic for our mobile products. In addition, we were able to provide a more flexible and efficient service and marketing model, and thus improved the interaction and service with end customers," said Xiaodong Chen, the chief executive officer of Blue Hat.

Chen added, “We believe that this business cooperation may generate a stable and sustainable profit and further the expansion and brand recognition of our products."

Last week, the company announced that it has received a minimum bid price requirement notification letter from The Nasdaq Stock Market LLC. Blue Hat intends to monitor the closing bid price of its ordinary shares from now to May 5, 2021 and intends to cure the deficiency within the prescribed compliance period.

Shares of Blue Hat shot up to $1.33 per share in pre-marketing trading. As of midday Thursday, the stock had fallen but was still up 5.98% from yesterday's close, trading at 94 cents per share.

Topics:Blue Hat; China; U.S.