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Glory Star expected to further increase profitability

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Glory Star New Media Group, a Nasdaq-listed digital media platform and content-driven e-commerce company in China, is expected to be able to further increase its profitability with its growing market share and economy of scale.

The company reported a 15.8% growth in its Non-GAAP net income to US$16.9 million for the six-months ended June 30 from US$14.6 million in the same period of last year.

During the first half of this year, the company’s total revenues grew 144.6% to US$71.9 million from US$29.4 million, thanks to the increase in advertising revenues and Cheers e-Mall marketplace service revenue, primarily attributable to the development and promotion of its mobile and online businesses.

Income from operations surged 40.9% to US$16.2 million from US$11.5 million.

During the first half year of 2021, the company successfully grew its top and bottom lines as it allocated more resources to sales and marketing to augment its brand equity and fuel its long-term growth engine.

The company’s rising economy of scale will allow it to gradually reduce operating expenses and capitalize on the rising popularity of video content and deliver lasting shareholder value.

At the end of June 30, the number of downloads of the company’s Cheers App reached 215.6 million, up from 121 million a year earlier. The increase in the number, a key indicator of the attractiveness and usability of its Cheers App and its e-Mall platform traffic, showed that it had successfully converted viewers of its content to its Cheers App.

Average daily active users (DAUs) of the app grew to 7.1 million from 4.5 million for the same period. Stock Keeping Units (SKUs) on its Cheers e-Mall platform jumped to 231,630 from 19,984.

Gross Merchandise Value (GMV) of the Cheers App reached US$181.2 million in the first six months of this year, compared with US$20 million in the same period of 2020. The increase in GMV was driven significantly by its ability to attract and retain users to its Cheers App through its professionally produced content and its ability to further enhance its product offerings.

The company has a strong commitment to its corporate mission, meticulous execution of growth strategies, methodical expansion in both overseas and domestic markets, proactive engagement of Generation Z users through innovative products, and prudent investment in sales and marketing initiatives. It plans to refine its competitive edge in content-driven e-commerce of premium lifestyle, deepen our expertise in integrating quality content with lifestyle commerce, and expand our brand influence among Generation Z consumers on a global basis.

During the first half year, the resurgence of Covid-19 and its Delta variant caused the Chinese government to impose travel restrictions within mainland China, particularly in the southern regions of the country.

The company temporarily suspended the production of its traditional “Cheers Series” TV programs, thus resulting in a decline in its cost of revenues during the first six month of 2021. Once the travel restrictions are eased, the company will resume its content production activities in the second half of this year.

As of June 30, 2021, the company had cash and cash equivalents of US$20.3 million, compared with US$17.7 million at the end of last year.

Blockchain and AI technologies

Since its establishment in 2016, Glory Star has pioneered a unique, new business model integrating e-commerce services with premium video content. With the use of blockchain and AI technologies in its systems, the company has become a leading online digital media and entertainment company in China, with a strong track record both in terms of viewership and production capabilities. The company launched its Cheers App in 2018 to integrate e-commerce services with professionally generated content (PGC).

During the first half, the company produced many more live streaming shows and started to provide title sponsor advertising services at a higher price point. It also spent substantially on the development of the Cheers Chat and Cheers Car.

The company plans to provide more user-generated content (UGC) by forming partnerships with other platforms. It will allow global users to upload their content to its video platforms in the fourth quarter of this year while users will receive advertising revenue or get rewards from viewers directly.

The company will also allow content providers to use its software-as-a-service (SaaS) supply chain system with the blockchain technology that will help them match with relevant merchandisers. Content providers will be able to share the revenue from the sales of products on their video accounts.

The company’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.

Its large and active user base has created valuable engagement opportunities with consumers and enhanced platform stickiness with thousands of domestic and international brands.

Non-fungible token

Glory Star’s Naschain platform offers one-stop solutions, which include smart contract, multichain universe and cross-chain consensus mechanisms, to users with its blockchain technology. It can help e-shoppers trace the origins of the products, avoid buying counterfeit goods, lower their logistics costs and protect their privacy.

The company has signed an agreement with the Beijing Minsheng Art Museum to use the company’s non-fungible token (NFT) technology, which can be used in copy-rights’ registration, verification, transaction and valuation, to protect the intellectual property of the museum’s artworks. The company will be able to boost its market share by acquiring some NFT service providers.

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Press Release

Rasmala Global Sukuk Fund Named Winner of Two 2026 LSEG Lipper Fund Awards for Best Fund over 10 Years

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Dubai, United Arab Emirates, August 3rd, 2026, FinanceWire

Independent recognition of a decade of consistent, risk-adjusted performance

The Rasmala Global Sukuk Fund was recognised with the 2026 LSEG Lipper Fund Awards for Best Fund over 10 Years in the Bond Sukuk Global USD classification, winning across two award universes: Global Islamic and MENA Markets.

The LSEG Lipper Fund Awards have, for more than three decades, recognised funds that have delivered consistently strong risk-adjusted performance relative to their peers. Winners are determined using LSEG Lipper’s independent, proprietary quantitative methodology, based on the Lipper Leader rating for Consistent Return over three-, five-, and ten-year periods.

The Rasmala Global Sukuk Fund is a UCITS sub-fund of an open-ended, Luxembourg-incorporated umbrella investment company. One of the longest-running global sukuk funds of its kind, the Fund invests in a diversified portfolio of Shariah-compliant assets, comprising primarily investment-grade sovereign, government-related and corporate sukuk, without reference to any specific benchmark. The Fund is dynamically managed and targets both income and capital appreciation, with a monthly distribution of dividends, and has navigated multiple market cycles within a risk-managed framework.

The awards come at a period of heightened volatility for global fixed income. Fitch Ratings has noted that the sukuk market’s recovery in 2026 hinges on sustained regional stability, with issuance expected to remain below 2025 levels amid ongoing geopolitical uncertainty.¹ Against this backdrop, an independent award recognising consistent, risk-adjusted performance over a full decade underscores the value of an actively managed, disciplined approach through changing market cycles.

“We’re proud to see the Rasmala Global Sukuk Fund recognised among the best over ten years. In a market that continues to test investors, an independent award for consistent, risk-adjusted performance over a full decade speaks to the strength of our active management and the trust our investors place in us. It reflects the disciplined, long-term approach that defines how we manage capital at Rasmala,” said Eric Swats, Senior Executive Officer, Rasmala Investment Bank Limited.

About Rasmala Investment Bank Limited

Rasmala Investment Bank Limited (“Rasmala”) is an independent alternative investment manager serving Gulf-based investors including pension funds, family offices, corporates, endowments, and financial institutions. The firm is located in the DIFC, Dubai, UAE, and regulated by the Dubai Financial Services Authority (DFSA). It is a wholly owned subsidiary of Rasmala Investment Holdings (DIFC) Limited (“Rasmala Holdings”). For more information, visit www.rasmala.com.

¹ Market context sourced from publicly available third-party commentary: Fitch Ratings, “Global Sukuk Issuance Recovery Hinges on Regional Stability” (Non-Rating Action Commentary), 8 July 2026, fitchratings.com/research/non-bank-financial-institutions/global-sukuk-issuance-recovery-hinges-on-regional-stability-08-07-2026. Provided for context only.

Important information/disclaimer

For Professional Client only. This document constitutes a financial promotion and is directed only at persons who meet the DFSA’s definition of a Professional Client and must not be relied upon by any other person. It does not constitute an offer, solicitation or investment advice. Past or projected performance is not necessarily a reliable indicator of future results; the value of investments can fall as well as rise, and investors may not recover the full amount invested. RIBL is authorised by the DFSA to operate an Islamic Window and has appointed a Sharia Supervisory Board that reviews and approves its Islamic Finance products. The LSEG Lipper Fund Awards is awarded by LSEG Lipper based on its independent quantitative methodology; details are available at lipperfundawards.com. Prospective investors should read the Fund’s prospectus and KIID/PRIIPs-KID and seek independent advice before investing. The awards referred to herein should not be construed as a recommendation to purchase or invest in the Fund and does not guarantee future performance. Nothing in this communication excludes or limits any duty or liability owed by Rasmala Investment Bank Limited under applicable DIFC laws or the DFSA Rulebook.

Contact

Tim Hydari
Senior Executive, Branding & Investor Communications
Rasmala Investment Bank Limited
media@rasmala.com
+971 4 424 2700

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Press Release

TaqFlow Emerges to Overhaul Central Asian Cross-Border Payments

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Dubai, UAE, August 1st, 2026, FinanceWire

Fintech Pioneer Fuses Blockchain and Dedicated Content Delivery Network to Replace Broken 48-Hour Legacy Banking Rails with Instant, Ultra-Low-Fee Transactions

TaqFlow, a next-generation cross-border payment platform engineered specifically for Central Asian corridors, announced its official emergence from stealth mode and the public launch of pre-orders for its high-speed financial network. The platform solves the region’s most critical commercial pain points: slow settlement times, high transaction fees, and crippling currency volatility.

Unlike traditional financial institutions, the team behind TaqFlow is comprised entirely of digital nomads who have spent years traveling, living, and operating businesses across different countries. Having managed international operations on the move, the founders intimately understand the severe friction, predatory fees, and operational bottlenecks tied to cross-border capital movement.

“The spark for TaqFlow happened on a beach in Bali, of all places,” said co-founder Giorgi Beridze. “I was speaking with one of my eventual co-founders, who was venting about the sheer frustration of moving money between Georgia and Kazakhstan. The transaction took over two days to clear. In that short window, currency fluctuations ate away at the capital, costing him the equivalent of several hundred euros. It was a lightbulb moment for both of us. As nomads, we knew this pain intimately. We realized that the existing cross-border rails in Central Asia were fundamentally broken—exposed to systemic delays, unpredictable volatility, and unnecessary costs.”

TaqFlow eliminates these systemic bottlenecks by introducing a proprietary, dual-layer architecture built entirely from scratch. The platform is harnessing the innate speed and cryptographic security of the blockchain, layering it beneath a custom-built, dedicated content delivery network (CDN). This physical infrastructure will bypass standard public internet latency, allowing TaqFlow to route, read, and settle B2B transactions in mere seconds at a fraction of standard banking fees.

The rapid velocity of the platform removes the financial limbo that historically stifled trade along the historic Silk Road corridors, which inspired the company’s name. A “Taq” was the historic domed archway where ancient global merchants gathered to exchange currency; TaqFlow has modernized this concept into a digital gateway.

“As a young startup, our greatest asset is that we aren’t saddled by legacy systems or yesterday’s way of thinking,” a co-founder continued. “Traditional institutions are trapped inside layers of obsolete technical debt. This blank slate allows us to build cleaner, operate with zero friction, and pass those massive cost savings directly to our customers. We are already looking at how we can incorporate AI natively into our infrastructure to push processing speeds even higher and completely transform the cross-border customer experience.”

The launch arrives at a pivotal moment. Institutional investors from Europe, the Americas, and the Gulf region are increasingly turning their attention toward Central Asia’s rapidly growing economic landscape. TaqFlow aims to act as the primary financial bedrock that enables this influx of global capital to reach local markets seamlessly.

“The Central Asian economy has been overlooked for far too long,” co-founder Logan Jenkins noted. “When we look back five years from now, our greatest legacy won’t just be the volume of capital we processed; it will be the community of small businesses and startups we lifted up. We want to be the foundation that helps young enterprises get off the ground, seamlessly scale across borders, protect their hard-earned margins, and grow at velocities they never thought possible.”

TaqFlow is now accepting pre-orders from businesses and corporate partners across authorized Central Asian corridors. Enterprises looking to optimize their cross-border liquidity and eliminate transaction delays can learn more or request platform access by visiting TaqFlow’s launch page.

About TaqFlow

TaqFlow is a modern cross-border payment platform dedicated to unlocking the economic potential of Central Asia. Founded by a team of global digital nomads and fintech innovators, TaqFlow bridges ancient regional trading heritage with modern decentralized technology. By fusing blockchain tech with an ultra-low-latency dedicated network, the platform provides businesses with a fast, secure, and highly automated digital gateway to move capital across borders seamlessly, stripping out the delays and predatory fees of legacy banking rails.

Contact

Marketing & Media Relations
Aditi Gupta
TaqFlow
sales@taqflow.io

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Press Release

D$AVAGE Releases New Hit Single “Chosen One”

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Chosen One” brings together Kevin Gates’ younger brothers, D$AVAGE and BWA Ron, for a record rooted in family, hustle and legacy. With BWA Ron behind the production and D$AVAGE delivering raw street testimony, the two combine their talents to show their own worth while building on the foundation already established before them. The record represents chemistry, ambition and the next chapter of the BWA family – not just carrying the name, but proving what the younger brothers bring to it.

Check out “Chosen One” out now on all platforms and make sure you follow D$AVAGE on social media for his latest releases.

Connect:

www.dsavagetv.net 

Instagram – @svglife100

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Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Digi Observer journalist was involved in the writing and production of this article.

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