Blue Hat Interactive Entertainment Technology
NASDAQ:BHAT
Blue Hat Interactive Entertainment Technology
Blue Hat Interactive Entertainment Technology is a holding company, which engages in the production, development, and operation of augmented reality (AR) interactive entertainment games and toys. The company is headquartered in Xiamen, Fujian and currently employs 110 full-time employees. The company went IPO on 2019-07-26. The firm mainly engaged in interactive toys, including animation and game series, mobile games and animation design services.
Blue Hat Interactive Entertainment Technology is a holding company, which engages in the production, development, and operation of augmented reality (AR) interactive entertainment games and toys. The company is headquartered in Xiamen, Fujian and currently employs 110 full-time employees. The company went IPO on 2019-07-26. The firm mainly engaged in interactive toys, including animation and game series, mobile games and animation design services.
Revenue Growth: Blue Hat reported a 26.7% increase in total revenue for 2020, reaching $30.2 million, driven mainly by new business lines and interactive education.
Pandemic Impact: COVID-19 significantly affected operations, especially in interactive education, but the company still grew and remained profitable.
Margins: Gross profit margin fell sharply to 46.3% from 68.4% due to higher initial costs and the impact of new business launches.
Strategic Acquisitions: The company acquired Xunpusen Technology and a majority stake in Fuzhou Csfctech to expand in information services and mobile gaming.
IDC & Partnerships: New IDC business and partnerships with firms like China Mobile, Kingsoft Cloud, and Tencent are expected to drive future revenue growth.
Outlook: Management expects improved operating margins and high growth in IDC and education sectors in 2021, but offered no specific financial guidance.
