Color Star Files 2024 Annual Report

TL;DR

Color Star Tech (formerly Huitao) dropped its 2024 20-F. Check financials for the year ending June 30.

AI Summary

Color Star Technology Co., Ltd. filed its annual report on Form 20-F for the fiscal year ended June 30, 2024. The company, formerly known as Huitao Technology Co., Ltd., is incorporated in the Cayman Islands and operates in educational services. Its principal executive offices are located at 80 Broad Street, New York, NY.

Why It Matters

This filing provides investors with the company's audited financial performance and operational overview for the past fiscal year, crucial for assessing its current standing and future prospects.

Risk Assessment

Risk Level: medium — As a foreign private issuer filing a 20-F, the company's reporting standards and regulatory oversight may differ from domestic US companies, introducing potential risks.

Key Numbers

• 20240630 — Fiscal Year End (The period covered by the annual report.)
• 333-226308 — SEC File Number (The company's SEC registration number.)

Key Players & Entities

• Color Star Technology Co., Ltd. (company) — Filer of the 20-F
• Huitao Technology Co., Ltd. (company) — Former name of Color Star Technology Co., Ltd.
• June 30, 2024 (date) — Fiscal year end for the report
• 80 Broad Street, 5th Floor, New York, NY 10005 (location) — Business and mail address

FAQ

Key Financial Figures

• $0.04 — red Class A Ordinary Shares, par value $0.04 ADD Nasdaq Capital Market Securities
• $ — ers to the legal currency of China and "$," "dollars," "US
  quot; or "U.S. dollars" re

Filing Documents

• ea0217280-20f_colorstar.htm (20-F) — 1354KB
• ea021728001ex2-1_colorstar.htm (EX-2.1) — 68KB
• ea021728001ex8-1_colorstar.htm (EX-8.1) — 4KB
• ea021728001ex12-1_colorstar.htm (EX-12.1) — 8KB
• ea021728001ex12-2_colorstar.htm (EX-12.2) — 8KB
• ea021728001ex13-1_colorstar.htm (EX-13.1) — 4KB
• ea021728001ex13-2_colorstar.htm (EX-13.2) — 4KB
• ea021728001ex15-1_colorstar.htm (EX-15.1) — 3KB
• ea021728001ex97-1_colorstar.htm (EX-97.1) — 37KB
• image_001.jpg (GRAPHIC) — 50KB
• image_002.jpg (GRAPHIC) — 76KB
• 0001213900-24-088518.txt ( ) — 7452KB
• hht-20240630.xsd (EX-101.SCH) — 66KB
• hht-20240630_cal.xml (EX-101.CAL) — 46KB
• hht-20240630_def.xml (EX-101.DEF) — 329KB
• hht-20240630_lab.xml (EX-101.LAB) — 564KB
• hht-20240630_pre.xml (EX-101.PRE) — 329KB
• ea0217280-20f_colorstar_htm.xml (XML) — 728KB

Item 18

Item 17 Item 18 If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements. Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant's executive officers during the relevant recovery period pursuant to 240.10D-1(b). If this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes No COLOR STAR TECHNOLOGY CO., LTD. FORM 20-F ANNUAL REPORT TABLE OF CONTENTS Page INTRODUCTORY NOTE ii

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS iii PART I Item 1. Identity of Directors, Senior Management and Advisers 1 Item 2. Offer Statistics and Expected Timetable 1 Item 3. Key Information 1 Item 4. Information on The Company 16 Item 4A. Unresolved Staff Comments 27 Item 5. Operating and Financial Review and Prospects 27 Item 6. Directors, Senior Management and Employees 37 Item 7. Major Shareholders and Related Party Transactions 42 Item 8. Financial Information 43 Item 9. The Offer and Listing 43 Item 10. Additional Information 44 Item 11.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 57 Item 12.

Description of Securities Other than Equity Securities

Description of Securities Other than Equity Securities 57 PART II Item 13. Defaults, Dividend Arrearages and Delinquencies 58 Item 14. Material Modifications to the Rights of Security Holders and Use Of Proceeds 58 Item 15.

Controls And Procedures

Controls And Procedures 58 Item 16. [Reserved] 59 Item 16A. Audit Committee Financial Expert 59 Item 16B. Code Of Ethics 59 Item 16C. Principal Accountant Fees and Services 59 Item 16D. Exemptions from the Listing Standards for Audit Committees 60 Item 16E. Purchases of Equity Securities by the Issuer and Affiliated Purchasers 60 Item 16F. Change in Registrant's Certifying Accountant 60 Item 16G. Corporate Governance 60 Item 16H. Mine Safety Disclosure 60 Item 16I. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 60 Item 16J. Insider Trading Policy 60 Item 16K. Cybersecurity 60 PART III Item 17.

Financial Statements

Financial Statements 61 Item 18.

Financial Statements

Financial Statements 61 Item 19. Exhibits 61 i INTRODUCTORY NOTE Unless otherwise indicated and except where the context otherwise requires, references in this annual report on Form 20-F to: "we," "us," "our," "Color Star," or "the Company," refers to Color Star Technology Co., Ltd., a Cayman Islands exempted company, its predecessor entities and its subsidiaries; "CACM" refers to CACM Group NY, Inc. "China" or "PRC" refers to People's Republic of China, and for the purpose of this annual report, excludes Taiwan, Hong Kong and Macau; "Color Metaverse" refers to Color Metaverse Pte. Ltd.; "Color World" refers to the ColorWorld Metaverse platform; "HK

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS This report contains "forward-looking statements" for purposes of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that represent our beliefs, projections and predictions about future events. All statements other than statements of historical fact are "forward-looking statements," including any projections of earnings, revenue or other financial items, any statements of the plans, strategies and objectives of management for future operations, any statements concerning proposed new projects or other developments, any statements regarding future economic conditions or performance, any statements of management's beliefs, goals, strategies, intentions and objectives, and any statements of assumptions underlying any of the foregoing. Words such as "may", "will", "should", "could", "would", "predicts", "potential", "continue", "expects", "anticipates", "future", "intends", "plans", "believes", "estimates" and similar expressions, as well as statements in the future tense, identify forward-looking statements. These statements are necessarily subjective and involve known and unknown risks, uncertainties and other important factors that could cause our actual results, performance or achievements, or industry results, to differ materially from any future results, performance or achievements described in or implied by such statements. Actual results may differ materially from expected results described in our forward-looking statements, including with respect to correct measurement and identification of factors affecting our business or the extent of their likely impact, and the accuracy and completeness of the publicly available information with respect to the factors upon which our business strategy is based or the success of our business. Given these uncertainties, you should not place undue reliance on these forward-looking statements.

Forward-looking statements should not be read

Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of whether, or the times by which, our performance or results may be achieved. Forward-looking statements are based on information available at the time those statements are made and management's belief as of that time with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Important factors that could cause such differences include, but are not limited to, those factors discussed under the headings "Risk Factors", "Operating and Financial Review and Prospects," and elsewhere in this report. iii PART I

IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS

ITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS Not Applicable.

OFFER STATISTICS AND EXPECTED TIMETABLE

ITEM 2. OFFER STATISTICS AND EXPECTED TIMETABLE Not Applicable.

KEY INFORMATION

ITEM 3. KEY INFORMATION 3.A. Reserved 3.B. Capitalization and Indebtedness Not Applicable. 3.C. Reasons for the Offer and Use of Proceeds Not Applicable. 3.D. Risk Factors An investment in our ordinary shares involves a high degree of risk. You should carefully consider the risks and uncertainties described below together with all other information contained in this annual report, including the matters discussed under the headings "Forward-Looking Statements" and "Operating and Financial Review and Prospects" before you decide to invest in our ordinary shares . We are a holding company with substantial operations in Singapore and are subject to a legal and regulatory environment that in many respects differs from the United States. If any of the following risks, or any other risks and uncertainties that are not presently foreseeable to us, actually occur, our business, financial condition, results of operations, liquidity and our future growth prospects could be materially and adversely affected. Risks Related to Our Business and Industry We have a limited operating history with our current business model, which makes it difficult to predict our prospects and our business and financial performance. We have a short operating history with our current business model focusing on providing online entertainment performances, online education services, and metaverse services and products. We transitioned from a concrete business company to our current business model in 2020, and further began to explore the metaverse industry in January 2022. Our limited history of operating under the current business model may not serve as an adequate basis for evaluating our prospect and operating results, including gross billings, net revenues, cash flows and operating margins. We have encountered, and may continue to encounter in the future, risks, challenges and uncertainties associated with operating in compound industries including entertainment, education and meta

View Full Filing

View this 20-F filing on SEC EDGAR