Color Star Technology Announces Corporate Name Change, Stock Ticker Symbol Change and 25-for-1 Reverse Share Split

NEW YORK, Aug. 20, 2025 /PRNewswire/ -- Color Star Technology Co., Ltd. (Nasdaq: ADD) ("Color Star" or the "Company"), an entertainment technology company with a global network that focuses on cryptocurrency mining and the application of technology and artificial intelligence in the entertainment industry, announced today that it will change its corporate name to Zeta Network Group, change its stock ticker symbol to "ZNB," and will effect a 25-for-1 reverse share split of its Class A and Class B ordinary shares (collectively, the "Corporate Events"). The Company anticipates that the Corporate Events will be effective upon the commencement of trading on the Nasdaq Capital Market on August 22, 2025 (U.S. Eastern Time). The corporate name change and stock ticker symbol change reflects the Company's new business strategy in its new cryptocurrency mining operations and its future development plans.

On June 29, 2025, the shareholders of the Company approved the Corporate Events and corresponding changes in the Seventh Amended and Restated Memorandum and Articles of Association, and on July 28, 2025, the board of directors of the Company approved the definitive reverse share split ratio of 25-for-1. As a result of the reverse share split, the number of ordinary shares outstanding will be reduced from approximately 14.6 million Class A Ordinary Shares and 12,000 Class B Ordinary Shares to approximately 585,000 Class A Ordinary Shares and 480 Class B Ordinary Shares, respectively, subject to rounding up of all fractional shares to the nearest whole share in lieu of such fractional shares. The authorized capital of the Company after the reverse split will be USD$32 million divided into 11.2 billion Class A Ordinary Shares with a par value of USD$0.0025 per share and 1.6 billion Class B Ordinary Shares with a par value of USD$0.0025 per share.

The Company's transfer agent, Transhare Corporation ("Transhare"), will also act as exchange agent for the reverse share split. The Company understands from Transhare that book entry shareholders will not need to take any action in the reverse share split process. After the reverse share split takes effect, shareholders that currently hold ordinary shares in book entry form will receive updated statements of holding reflecting their holdings referencing the reverse share split.

The Company intends to treat shareholders holding ordinary shares in "street name" (that is, held through a bank, broker or other nominee) in the same manner as shareholders of record whose ordinary shares are registered in their names. Banks, brokers or other nominees will be instructed to effect the reverse share split for their beneficial holders holding our ordinary shares in "street name;" however, these banks, brokers or other nominees may apply their own specific procedures for processing the reverse share split.

The Company's Class A Ordinary Shares will begin trading on a split-adjusted basis when the market opens on August 22, 2025 (U.S. Eastern Time). The Company anticipates that its Class A ordinary shares will cease trading under the current ticker symbol "ADD" and will begin trading under the new ticker symbol "ZNB" on the Nasdaq Capital Market on August 22, 2025 under a new CUSIP number, G2287A134.

About Color Star Technology Co., Ltd.

Color Star Technology Co., Ltd. (Nasdaq: ADD) 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 Metaverse Pte. Ltd. and CACM Group NY, Inc. The Company's online education is provided through its Color World music and entertainment education platform. The Company has also commenced operations in its new cryptocurrency mining business in Kazakhstan.

Forward-Looking Statements

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 ADD conducts its business; reputation and brand; the impact of competition and pricing; government regulations; the ability of Color Star to meet NASDAQ listing standards in connection with the consummation of the transaction contemplated therein; and other risks and uncertainties described herein, as well as those risks and uncertainties discussed from time to time in other reports and other public filings with the Securities and Exchange Commission by Color Star. 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.

SOURCE Color Star Technology Co., Ltd.