Color Star CEO Attends Business Event in Korea to Strengthen Global Cooperation

NEW YORK, Sept. 16, 2022 /PRNewswire/ -- Color Star Technology Co., Ltd. (Nasdaq: CSCW) ("Color Star" or the "Company"), an entertainment technology company with a global network that focuses on the application of technology and artificial intelligence in the entertainment industry, was recently invited to attend a business event in Seoul, South Korea. Farhan Qadir, CEO of Color Star, accompanied His Excellency Awad Mohammed Bin Mujren of the Dubai royal family, as well as a number of leading politicians and business figures to the event.

It is reported that the event was organized by A-NEX Korea ("A-NEX") to officially launch the DONO Phone, an eco-friendly smartphone that meets the environmental, social, and governance criteria ("ESG"). At the event, Farhan cut the ribbon together with other notable guests. The freshly unveiled high-tech DONO Phone can be fitted with customized liquid crystal protectors of various designs. The goal of this feature is to allow the screen of the phone to be replaced easily in order to lengthen the replacement cycle of smartphones and to contribute to the environment. Regarding network security, the DONO Phone will feature a distributed cloud storage service that makes it hard to be hacked. During the event, Farhan not only listened to A-NEX's product presentation in detail, but also had a friendly and warm discussion on the future cooperation and joint development of ESG.

Recently, Color Star has been strengthening their cooperation with international enterprises, many of which have since joined the ColorWorld Metaverse platform ("Color World"). Each enterprise received their own metaverse headquarter to sell their products or services, while also gaining Color Star public attention and support. As a NASDAQ-listed technology company, Color Star will use its position and talented technical team to serve users and sellers worldwide, reducing the cost of business development while simultaneously increasing profit margins.

Farhan Qadir, CEO of Color Star, said: "Color Star's partners are located all over the world, and the industry is all-encompassing. These are some big advantages that our company and software hold. Artificial intelligence needs to better serve users, and Color World will no longer be a mere concept, but a platform that continuously generates valuable content. We have spoken a lot with our international partners, and they are very optimistic about Color Star. Most importantly, they have faith in Color World's huge potential in its capability of bringing in more customers and revenue to businesses. Next, we have a lot of new content to announce to the public, and we are also expecting more and more companies to join our metaverse platform in order to grow their businesses."

About Color Star Technology Co., Ltd.

Color Star Technology Co., Ltd. (Nasdaq: CSCW) is an entertainment and education company that provides online entertainment performances and online music education services. Its business operations are conducted through its wholly-owned subsidiaries, Color China Entertainment Ltd. and CACM Group NY, Inc. The Company's online education is provided through its Color World music and entertainment education platform. More information about the Company can be found at www.colorstarinternational.com.

Forward-Looking Statement

This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as "may," "will," "intend," "should," "believe," "expect," "anticipate," "project," "estimate" or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantee of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company's expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company's goals and strategies; the Company's future business development, including the development of the metaverse project; product and service demand and acceptance; changes in technology; economic conditions; the growth of the educational and training services market internationally where CSCW conducts its business; reputation and brand; the impact of competition and pricing; government regulations; fluctuations in general economic and business conditions and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the Securities and Exchange Commission. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company's filings with the U.S. Securities and Exchange Commission, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward–looking statements to reflect events or circumstances that arise after the date hereof unless required by applicable laws, regulations or rules.

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SOURCE Color Star Technology Co., Ltd.