Univest Securities Publishes Updated Research Report on Glory Star and Raises Price Target to $7.50

BEIJING,Sept. 8,2021 -- Glory Star New Media Group Holdings Limited (NASDAQ: GSMG) ("Glory Star" or the "Company"),a leading digital media platform and content-driven e-commerce company in China,today announced that Univest Securities has published an updated research report on Glory Star. In the updated report,Univest maintained its "Buy" rating for Glory Star but raised its price target to $7.50 from its previous target of $6.50. The report was authored by James Jang,Director of Research at Univest Securities,and follows the Company's earlier announcement of its unaudited financial results for the first half year of 2021 ended June 30,2021,on August 19,2021.

For a copy of the report please contact Univest Research.

Univest Securities Publishes Updated Research Report on Glory Star and Raises Price Target to $7.50

Please note that any opinions,estimates,or forecasts regarding the performance of Glory Star and its management made by Univest Securities are theirs alone and do not represent the opinions,or forecasts of Glory Star or its management. Glory Star does not by this announcement or otherwise imply that the Company analyzes or approves of such information,conclusions,or recommendations.

About Glory Star New Media Group Holdings Limited

Glory Star New Media Group Holdings Limited is a leading digital media platform and content-driven e-commerce company in China. Glory Star's ability to integrate premium lifestyle content,including short videos,online variety shows,online dramas,live streaming,its Cheers lifestyle video series,e-Mall,and mobile app,along with innovative e-commerce offerings on its platform enables it to pursue its mission of enriching people's lives. The Company's large and active user base creates valuable engagement opportunities with consumers and enhances platform stickiness with thousands of domestic and international brands.

Safe Harbor Statement

Certain statements made in this release are "forward looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release,the words "estimates," "projected," "expects," "anticipates," "forecasts," "plans," "intends," "believes," "seeks," "may," "will," "should," "future," "propose" and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. Such forward-looking states include,but are not limited to,the Company's ability to develop its online retail and SaaS industry value chains,expand its business relationship with existing clients and continue its business growth trajectory. These forward-looking statements are not guarantees of future performance,conditions or results,and involve a number of known and unknown risks,uncertainties,assumptions and other important factors,many of which are outside the Company's control,that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors,among others,are: the ability to manage growth; ability to identify and integrate other future acquisitions; ability to obtain additional financing in the future to fund capital expenditures; fluctuations in general economic and business conditions; costs or other factors adversely affecting the Company's profitability; litigation involving patents,intellectual property,and other matters; potential changes in the legislative and regulatory environment; a pandemic or epidemic. The forward-looking statements contained in this release are also subject to other risks and uncertainties,including those more fully described in the Company's filings with the Securities and Exchange Commission. The Company undertakes no obligation to update or revise any forward-looking statements,whether as a result of new information,future events or otherwise,except as required by applicable law. Such information speaks only as of the date of this release.

Contacts

Glory Star New Media Group Holdings Limited

Yida Ye

Email: yeyida@yaoshixinghui.com

ICR,LLC

Robin Yang

Tel: +1 (646) 308-0546

Email: gsnm@icrinc.com