Blue Hat (NASDAQ: BHAT) today announced that its wholly owned subsidiary, Xiamen Duwei Consulting Management Co. Ltd, entered into a memorandum of understanding (“MOU”) with its shareholder of Xiamen Shengruihao Technology Co. Ltd. (“Shengruihao”) to acquire 100% of the equity interests of Shengruihao, a company specialized in product supply chain and integrated enterprise services. “I am glad to announce that the company has started the process to acquire 100% of the equity of Shengruihao through cash transaction. Right now, the transaction is undergoing the due diligence review. It is expected to close very soon,” said Chen Xiaodong, CEO of Blue Hat. “The annual turnover of Shengruihao is USD 45 million. After the successful acquisition of Shengruihao, we estimate that it will create a revenue of USD 45-70 million each year for the company in the future. I believe that Shengruihao’s outstanding achievements in commodity supply chain services can become a catalyst for the company’s future growth. With the acquisition of Shengruihao, the company will have stronger profitability and sustainable power to actively explore the market, establish the corporate image and improve the service quality. We will continue looking for acquisition opportunities to keep carrying out our expansion strategy and enhance our competitiveness in the market.”
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About Blue Hat Interactive Entertainment Technology
Blue Hat is a leading communication services and IDC business provider and a producer, developer and operator of AR interactive entertainment games, toys and educational materials in China. Distinguished by its own proprietary technology, Blue Hat aims to create an engaging, interactive and immersive community for its users.
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