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Why does Fujian Blue Hat Interactive Entertainment Technology Ltd. (BHAT) rise in the premarket?

Fujian Blue Hat Interactive Entertainment Technology Ltd. (BHAT) rises to 6.11% in the premarket. However, the last trading session closed at $0.63 with an increase of 8.43%.

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Second Quarter & First Half of 2021 results

BHAT reported second-quarter 2021 results on 25th October 2021. Increased sales across all key business lines, notably mobile games, and communication services, drove overall revenues of US $8.0 million in the second quarter of 2021. Moreover, gross profit of $4.7 million in the second quarter of 2021, up 138.4% from $2.0 million the previous year. Due to higher expenditures linked to bad debt provision, net income for the second quarter of 2021 was $0.2 million, compared to the US $0.5 million in the prior-year period.

Furthermore, total revenues of $17.9 million in the first half of 2021, compared to $4.9 million the previous year. Income from operations during the first half of 2021 was $3.6 million, more than $1.6 million in the prior-year period. Lastly, the net income of US $1.4 million in the first half of 2021, more than the US $1.3 million in the prior year.

Personal Safety and Awareness Course

BHAT reported on 15th October 2021 that the Company’s operational subsidiary has made agreements to give its AR personal safety and awareness training to 10 kindergartens in Jinfeng District, Yinchuang, Ningxia. These agreements arose from the Company’s AR personal safety and self-awareness course demonstration which drew administrators and instructors from over 80 kindergartens across the Ningxia area.

Based on real-life experiences and student situations, the Company, and the Xiamen People’s Procuratorate collaborated to build the course. Last but not least, the People’s Government and the Jinfeng District Education Bureau of Yinchuan City have endorsed this initiative.

SMS Channel Services for JD Cloud

On 8th October 2021, BHAT reported that JD Cloud, a major cloud computing brand under the tech giant JD Technology Group, has signed an agreement with Xunpusen Technology Co., Ltd. JD Cloud provides cloud computing services and industry solutions to a variety of worldwide clients in the Internet, banking, transportation, and energy industries, among others, providing public, private, and hybrid cloud products.

In addition, Xunpusen will supply the channel and port for JD Cloud’s SMS channels services. Xunpusen will own the network SMS channel port and offer JD Cloud the technology and support services required to use it. The channel technology and services supplied by Xunpusen will be effective and legitimate. Lastly, the Company and JD Cloud will collaborate closely to guarantee that the appropriate staff and SMS technology are in place so that Xunpusen’s channel and port services may be used to their full potential.

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