The Color World Cup - WBA World Tour in Dubai Successfully Draws To A Close

NEW YORK, Aug. 29, 2023 /PRNewswire/ -- The Color World Cup- WBA World Tour hosted by Color Star Technology Co., Ltd. (Nasdaq: ADD) ("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, successfully took place  at the Le Méridien Dubai Hotel & Conference Centre on August 26th, 19:00 local time. Bantamweight boxer Zhang Zhaoxin, nicknamed Sandstorm, won the WBA ASIA Bantamweight champion belt and Asian boxing champion title. Prince Shaikh Abdulmalik Al Qasimi personally presented the awards on the night. Members of the Dubai royal family and many celebrities were present at the event, and dozens of major media outlets were present to report on the event live. To ensure the event's success, Color Star built the venue interior from scratch, implementing lighting and sound systems capable of delivering an exhilarating experience.

The event began at 19:30, and lasted for more than 3 hours. 12 elite fighters hailing from around the world competed against each other in different rounds of welterweight, super lightweight and bantamweight classes. The highlight of the night is Chinese boxer Zhang Zhaoxin, who has twice KO'd the Olympics boxer and Chinese national champion Wang Jianzheng. In 2021, Zhang Zhaoxin even got the WBA recommendation to challenge the then WBA cruiserweight champion Ryad Merhy in Belgium. Zhang's match at the Méridien hotel saw him defeat Cameroonian fighter Rolly Lambert Fogoum, to the deafening applause of the audience and media journalists. The intense matches were also broadcast live on Sina Sports and QQ Live to a global audience.

The Color World Cup - WBA World Tour was met with great reception in the region as these types of major sporting events are relatively scarce in the Middle East. And so, Color Star plans to bring more premier sporting events to the Middle East, enriching the region's entertainment and cultural landscape.

Color Star CEO, Louis Luo, said, "Color Star was able to successfully organize this event thanks to the Dubai government's support, as well as the support of the WBA. This event was very beneficial to our Company's revenue and reputation. As we all know, the main business of our Company is organizing large performances and events. For the Color World Cup, we leveraged our expertise and past experience in stage choreography and sound systems in large-scale concerts and applied it to this boxing event. We wanted the audience to feel immersed in the event, no matter where they sat in the venue. The audience who can't be present in Dubai should also feel the intense emotions which boxing inspires.  We are planning more activities and events, and there will be more exciting projects to present to you soon."

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. More information about the Company can be found at www.colorstarinternational.com and www.colorstar.investorroom.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 ADD 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.

SOURCE Color Star Technology Co., Ltd.