XIAMEN, China, Nov. 24, 2021 /PRNewswire/ -- Pop Culture Group
Co., Ltd ("Pop Culture" or the "Company") (Nasdaq: CPOP), a hip-pop
culture company in China,
announced today that the Company had won the tender for Hanfu
Cultural Festival (the "Festival") put out by Migu Comic Co., Ltd
("Migu Comic"), a digital content provider that operates the app
Migu Quanquan. Migu Quanquan promotes Hanfu (traditional styles of
clothing worn by the Han people in China) culture and provides Hanfu fans with a
one-stop service of various Hanfu culture related activities. The
Company expects to provide customized services for the Festival,
including online and offline special event planning, event
execution, and app promotion.
According to a report by iiMedia Research, the sales of Hanfu in
China surged from RMB190 million (approximately US$29.7 million) in 2015 to RMB6.36 billion in 2020 (approximately
US$1 billion). The Hanfu market is
projected by iiMedia Research to grow significantly, as the sales
are expected to exceed RMB10 billion
(approximately US$1.6 billion) in
2021. As of the end of 2020, the number of Hanfu merchandizers had
grown to over 1,500 in China,
despite the impact of the COVID-19 pandameic. The "2020 Hanfu
Consumer Trend Insight Report" released by CBNData and Tmall.com
shows that the number of consumers who had purchased Hanfu on
Tmall.com reached 18 million and the number of potential consumers
of Hanfu reached 415 million. For more information about the
reports by iiMedia, CBNDate and Tmall.com, please visit the website
at https://www.iimedia.cn/c460/79715.html and
https://www.cbndata.com/report/2218/detail?isReading=report&page=1.
Mr. Zhuoqin Huang, Chairman and Chief Executive Officer of Pop
Culture, commented, "As a long-term partner of Migu Comic with
extensive event planning experience and execution capabilities, we
are a good match for undertaking the Festival. Both Migu Comic and
Pop Culture focus on street dance and trendy culture content
operations, so this undertaking is anticipated to establish a solid
foundation for the strategical cooperation. Through our extensive
experience in producing content, leveraging media resources, and
planning events, we believe that Pop Culture has the capability to
provide an in-depth analysis of market demand and strategical
cross-industry cooperation, as well as expanding the user pool to
improve the brand awareness of Migu Comic's app, Migu Quanquan, a
mobile social entertainment platform that integrates trendy and
creative short videos, live broadcasts, animation works, and
e-commerce."
About Pop Culture Group Co., Ltd
Headquartered in Xiamen, China,
Pop Culture Group Co., Ltd is a hip-hop culture company. The
Company aims to promote hip-hop culture and its values of love,
peace, unity, respect, and having fun, and to promote cultural
exchange with respect to hip-hop between the United States and China. With the values of hip-hop culture at
its core and the younger generation as its primary target audience,
the Company hosts entertainment events, operates hip-hop related
online programs, and provides event planning and execution services
and marketing services to corporate clients. The Company has in
recent years focused on developing and hosting its own hip-hop
events. For more information, visit the Company's website at
http://ir.popinter.cn/.
About Migu Comic Co., Ltd
Headquartered in Xiamen, China,
as the operating entity of China Mobile in the field of comics,
Migu Comic Co., Ltd ("Migu Comic") focuses on five major areas,
including content production and distribution, derivatives
production and sales, channel operation and promotion, e-commerce,
and capital operation, with the core of mobile Internet ACGNM
(animation, comics, games, novels and music) and short video
content operation, and endeavors to outperform traditional
animation in terms of distribution mode, editing method,
dissemination speed and channel coverage. Migu Comic's main
business has expanded from business income sharing with content
partners to diversified income from copyright, performing arts and
derivatives sales, and it has been a prominent presence in the
complete animation and comic industry chain, from creation,
distribution, performing arts, festivals, digital derivatives to
physical derivatives, and has been successful in exploring and
realizing forward and backward profit models, and cooperation with
upstream and downstream industries to build a new cultural
entertainment industry ecology for mobile Internet. Migu Comic has
nearly 2,000 partners, covering most of the first-line cartoonists
and studios, with 470,000 sets of genuine cartoon works online and
over 4,800 authorized cartoon images. For more information, visit
the Company's website at https://www.migu.cn/.
Forward-Looking Statements
Certain statements in this announcement are forward-looking
statements. These forward-looking statements involve known and
unknown risks and uncertainties, including the further spread of
the COVID-19 virus or new variants thereof, or the occurrence of
another wave of cases and the impact it may have on the Company's
operations and the demand for the Company's services, and are based
on current expectations and projections about future events and
financial trends that the Company believes may affect its financial
condition, results of operations, business strategy, and financial
needs. Investors can identify these forward-looking statements by
words or phrases such as "may," "will," "expect," "anticipate,"
"aim," "estimate," "intend," "plan," "believe," "potential,"
"continue," "is/are likely to," or other similar expressions. The
Company undertakes no obligation to update forward-looking
statements to reflect subsequent occurring events or circumstances,
or changes in its expectations, except as may be required by law.
Although the Company believes that the expectations expressed in
these forward-looking statements are reasonable, it cannot assure
you that such expectations will turn out to be correct, and the
Company cautions investors that actual results may differ
materially from the anticipated results and encourages investors to
review other factors that may affect its future results in the
Company's registration statement and its other filings with the
SEC.
For more information, please contact:
Pop Culture Group Co., Ltd
Investor Relations
Department
Email: ir@520pop.com
Ascent Investors Relations LLC
Tina Xiao
President
Phone: 917-609-0333
Email: tina.xiao@ascent-ir.com
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SOURCE Pop Culture Group Co., Ltd
