GDC Discontinues Livestreaming Gaming Business
NEW YORK, Jan. 27, 2025 (GLOBE NEWSWIRE) -- GD Culture Group Limited (“GDC” or the “Company”) (Nasdaq: GDC), and its subsidiary, AI Catalysis Corp. (“AI Catalysis”), today announced its decision to discontinue its online livestreaming gaming business after conducting a comprehensive assessment. While this decision marks a significant shift, previously released games and related content will remain operational but will no longer receive updates.
The move aligns with the Company's broader strategy to optimize resources and focus on areas with greater long-term potential. Launched 18 months ago, the livestreaming gaming business capitalized on an exciting and rapidly evolving industry. During this period, the community of players, streamers, and stakeholders played a vital role in the platform's success, contributing to engaging gaming experiences that reached global audiences through social media.
Mr. Xiaojian Wang, Chairman and Chief Executive Officer of the Company, commented, “We are deeply grateful to our loyal community of players, streamers, and stakeholders who have supported our efforts over the past 18 months. Their passion, creativity, and dedication of our community have been instrumental in delivering engaging gaming experiences. This decision is part of a broader strategy to prioritize our resources and efforts on products and initiatives that best align with our long-term vision and customer needs. While it was not an easy decision, this transition allows us to refocus on areas of greater strategic importance. We remain committed to ensuring a smooth and transparent process for all stakeholders.”
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About GD Culture Group Limited
GD Culture Group Limited (the “Company”) (Nasdaq: GDC), is a Nevada company currently conducting business mainly through its subsidiaries, AI Catalysis Corp. (“AI Catalysis”) and Shanghai Xianzhui Technology Co, Ltd. The company plans to enter into the livestreaming market with focus on e-commerce through its wholly owned U.S. subsidiary, AI Catalysis, a Nevada corporation incorporated in May 2023. The Company’s main businesses include AI-driven digital human technology, live-streaming e-commerce business. For more information, please visit the Company's website at .
Forward-Looking Statements
This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results.
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