Blue Hat Announces Fiscal Year 2020 Financial Results, Highl

Blue Hat Announces Fiscal Year 2020 Financial Results, Highlighted by 27% Increase in Revenues to $30.2 Million


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XIAMEN, China, April 7, 2021 /PRNewswire/ --
Blue Hat Interactive Entertainment Technology ("Blue Hat" or the "Company") (NASDAQ: BHAT), a leading producer, developer and operator of augmented reality ("AR") interactive entertainment games, toys and educational materials in China, today announced its audited financial results for the fiscal year ended December 31, 2020.
Fourth Quarter and Fiscal Year 2020 Financial Highlights
Total revenues of US$30.2 million, up 26.7% from US$23.8 million in 2019, driven by increased sales from its information services and Internet Data Center ("IDC") business in late 2020. As such, the majority of revenues was recorded in the fourth quarter of 2020, which increased more than 70% to approximately US$20 million, from US$11.8 million in the prior-year period, primarily driven by the Company's previously mentioned new business lines, which saw significant growth following the strategic acquisition of Xunpusen Technology Co., Ltd. ("Xunpusen") in the second half of 2020.

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