Pop Culture Group Co., Ltd Wins Hanfu Culture Festival Tender
XIAMEN, China, November 24, 2021 / PRNewswire / – Pop Culture Group Co., Ltd. (âPop Cultureâ or the âCompanyâ) (Nasdaq: CPOP), a hip-pop culture company from China, announced today that the company has won the tender for Hanfu Cultural Festival (the âFestivalâ) launched by Migu Comic Co., Ltd. (âMigu Comicâ), a digital content provider that operates the Migu Quanquan application. Migu Quanquan promotes Hanfu (traditional styles of clothing worn by the Han people in China) and offers Hanfu fans one-stop shopping for various activities related to Hanfu culture. The Company plans to provide personalized services for the Festival, including planning special events online and offline, running events and promoting applications.
According to a report by iiMedia Research, Hanfu’s sales in China arose from 190 million RMB (about US $ 29.7 million) in 2015 at 6.36 billion RMB in 2020 (approximately $ 1 billion). Hanfu Market Expected To Grow Significantly By iiMedia Research As Sales Expected To Exceed 10 billion RMB (about US $ 1.6 billion) in 2021. By the end of 2020, the number of Hanfu merchants had grown to over 1,500 in China, despite the impact of the COVID-19 pandemic. The “2020 Hanfu Consumer Trend Insight Report” published by CBNData and Tmall.com shows that the number of consumers who purchased Hanfu from Tmall.com reached 18 million, and the number of potential Hanfu consumers reached 415 million. For more information on the iiMedia, CBNDate and Tmall.com reports, 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, President and CEO of Pop Culture, commented, âAs a long term partner of Migu Comic with extensive event planning experience and execution capabilities, we are a good partner to undertake the Festival. Migu Comic and Pop Culture focuses on fashionable street dance and cultural content operations, so this company should establish a solid foundation for strategic cooperation.With our extensive experience in content production, l ‘Leveraging media resources and event planning, we believe pop culture has the ability to provide in-depth market demand analysis and cross-sector strategic cooperation, as well as broaden the user base to improve awareness of Migu Comic’s app, Migu Quanquan, a mobile social entertainment platform that integrates trendy and creative short videos, live broadcasts, animation work and e-commerce. “
About Pop Culture Group Co., Ltd
Based at Xiamen, China, Pop Culture Group Co., Ltd. is a hip-hop culture company. The Company aims to promote hip-hop culture and its values ââof love, peace, unity, respect and pleasure, and to promote cultural exchanges concerning hip-hop between United States and China. With the values ââof hip-hop culture at its heart and the younger generation as its main target audience, the company organizes entertainment events, manages online hip-hop-related programs, and provides planning and execution services. ‘events and marketing services to corporate clients. In recent years, the company has 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
Based at Xiamen, China, as a business unit of China Mobile in the comic field, Migu Comic Co., Ltd. (“Migu Comic”) focuses on five main areas, including content production and distribution, production and communication sale of derivative products, operation and promotion of channels, e-commerce, and capital exploitation, with the ACGNM mobile Internet at heart (animation, comics, games, novels and music) and the operation of short video content, and strives to outperform traditional animation in terms of delivery mode, editing method, delivery speed and channel coverage. Migu Comic’s core business has shifted from commercial revenue sharing with content partners to diversified revenue from sales of copyright, performing arts and merchandise, and it has been a significant presence in the full chain of animation and comics industry, creation, distribution, performing arts, festivals, digital derivatives to physical derivatives, and has successfully explored and produced models of upstream and downstream profit, as well as cooperation with upstream and downstream industries to create a new cultural entertainment industry ecology for the mobile Internet. Migu Comic has nearly 2,000 partners, spanning most of the front-line cartoonists and studios, with 470,000 sets of authentic cartoon works online and over 4,800 licensed cartoon images. For more information, visit the company’s website at https://www.migu.cn/.
Certain statements contained in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties, including the spread of the COVID-19 virus or new variants thereof, or the occurrence of another wave of cases and the impact this could have on the operations of the Company and the demand for the services of the Company and are based on current expectations and projections regarding future events and financial trends which, in the opinion of the Company, could affect its financial condition, results of operations, business strategy and financial needs. Investors may identify these forward-looking statements by words or phrases such as “may”, “will”, “expect”, “anticipate”, “aim”, “estimate”, “intend”, ” plan â,â believe â,â potential â,â continue â,â is / are likely to âor other similar expressions. The Company assumes no obligation to update forward-looking statements to reflect subsequent events or circumstances, or changes in its expectations, except as required by law. While the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot guarantee that such expectations will prove to be correct, and the Company cautions investors that actual results may differ materially from anticipated results and encourages investors to review d ” other factors that may affect its future results in the company’s registration statement and other documents filed with the SEC.
For more information please contact:
Pop Culture Group Co., Ltd
Investor Relations Department
E-mail: [emailÂ protected]
Ascent Investor Relations LLC
E-mail: [emailÂ protected]
SOURCE Pop Culture Group Co., Ltd