耀世星辉新文娱乐有限公司2022年度报告

UNITEDSTATES SECURITIESANDEXCHANGECOMMISSION Washington,D.C.20549FORM20-F ☐REGISTRATIONSTATEMENTPURSUANTTOSECTION12(b)OR12(g)OFTHESECURITIESEXCHANGEACTOF1934 OR ☐ANNUALREPORTPURSUANTTOSECTION13OR15(d)OFTHESECURITIESEXCHANGEACTOF1934 Forthefiscalyearended:December31,2022OR ☐TRANSITIONREPORTPURSUANTTOSECTION13OR15(d)OFTHESECURITIESEXCHANGEACTOF1934 OR ☐SHELLCOMPANYREPORTPURSUANTTOSECTION13OR15(d)OFTHESECURITIESEXCHANGEACTOF1934 DateofeventrequiringthisshellcompanyreportForthetransitionperiodfromto Commissionfilenumber:001-38631 GLORYSTARNEWMEDIAGROUPHOLDINGSLIMITED (ExactnameofRegistrantasspecifiedinitscharter) CaymanIslands (Jurisdictionofincorporationororganization) 22F,BlockB,XinhuaTechnologyBuildingNo.8TuofangyingSouthRoad Jiuxianqiao,ChaoyangDistrict,BeijingChina100016(AddressofPrincipalExecutiveOffices) BingZhangTelephone:+86-10-87700500Email:zhangbing@gsmg.co 22F,BlockB,XinhuaTechnologyBuildingNo.8TuofangyingSouthRoad Jiuxianqiao,ChaoyangDistrict,BeijingChina100016 (Name,Telephone,E-mailand/orFacsimilenumberandAddressofCompanyContactPerson) SecuritiesregisteredortoberegisteredpursuanttoSection12(b)oftheAct: TitleofeachclassTradingSymbol(s)Exchangeonwhichregistered OrdinaryShares,parvalue$0.0001pershare GSMG TheNasdaqStockMarket Warrants,eachexercisableforone- halfofoneOrdinaryShare,for $11.50perwholeOrdinaryShare GSMGWTheNasdaqStockMarket SecuritiesregisteredortoberegisteredpursuanttoSection12(g)oftheAct:None SecuritiesforwhichthereisareportingobligationpursuanttoSection15(d)oftheAct:None Numberofoutstandingsharesofeachoftheissuer’sclassesofcapitalorcommonstockasofthecloseoftheperiodcoveredbytheannualreport:68,124,402ordinaryshareswereoutstandingasofDecember31,2022. Indicatebycheckmarkiftheregistrantisawell-knownseasonedissuer,asdefinedinRule405oftheSecuritiesAct.Yes☐No☐ Ifthisreportisanannualortransitionreport,indicatebycheckmarkiftheregistrantisnotrequiredtofilereportspursuanttoSection13or15(d)oftheSecuritiesExchangeActof1934.Yes☐No☐ Indicatebycheckmarkwhethertheregistrant(1)hasfiledallreportsrequiredtobefiledbySection13or15(d)oftheSecuritiesExchangeActof1934duringthepreceding12months(orforsuchshorterperiodthattheregistrantwasrequiredtofilesuchreports),and(2)hasbeensubjecttosuchfilingrequirementsforthepast90days.Yes☐No☐ IndicatebycheckmarkwhethertheregistranthassubmittedelectronicallyeveryInteractiveDataFilerequiredtobesubmittedpursuanttoRule405ofRegulationS-T(§232.405ofthischapter)duringthepreceding12months(orforsuchshorterperiodthattheregistrantwasrequiredtosubmitsuchfiles).Yes☐No☐ Indicatebycheckmarkwhethertheregistrantisalargeacceleratedfiler,anacceleratedfiler,anon-acceleratedfiler,oranemerginggrowthcompany.Seedefinitionof“acceleratedfilerandlargeacceleratedfiler,”“acceleratedfiler,”and“emerginggrowthcompany”inRule12b-2oftheExchangeAct.(Checkone): Largeacceleratedfiler☐Acceleratedfiler☐Non-accelerated filer ☐Emerginggrowthcompany☐ IfanemerginggrowthcompanythatpreparesitsfinancialstatementsinaccordancewithU.S.GAAP,indicatebycheckmarkiftheregistranthaselectednottousetheextendedtransitionperiodforcomplyingwithanyneworrevisedfinancialaccountingstandardsprovidedpursuanttoSection13(a)oftheExchangeAct.☐ Indicatebycheckmarkwhethertheregistranthasfiledareportonandattestationtoitsmanagement’sassessmentoftheeffectivenessofitsinternalcontroloverfinancialreportingunderSection404(b)oftheSarbanes-OxleyAct(15 U.S.C.7262(b))bytheregisteredpublicaccountingfirmthatpreparedorissueditsauditreport.☐ Indicatebycheckmarkwhichbasisofaccountingtheregistranthasusedtopreparethefinancialstatementsincludedinthisfiling: U.S.GAAP☐InternationalFinancialReportingStandardsasissuedbytheInternationalAccountingStandardsBoard☐ Other☐ If“Other”hasbeencheckedinresponsetothepreviousquestion,indicatebycheckmarkwhichfinancialstatementitemtheregistranthaselectedtofollow.Item17☐Item18☐ Ifthisisanannualreport,indicatebycheckmarkwhethertheregistrantisashellcompany(asdefinedinRule12b-2oftheSecuritiesExchangeActof1934).Yes☐No☐ TABLEOFCONTENTS INTRODUCTIONiii CAUTIONARYLANGUAGEREGARDINGFORWARD-LOOKINGSTATEMENTSv NOTEvi PARTI ITEM1.IDENTITYOFDIRECTORS,SENIORMANAGEMENTANDADVISERS1 ITEM2.OFFERSTATISTICSANDEXPECTEDTIMETABLE1 ITEM3.KEYINFORMATION1 ITEM4.INFORMATIONONTHECOMPANY48 ITEM4A. UNRESOLVEDSTAFFCOMMENTS 85 ITEM5.OPERATINGANDFINANCIALREVIEWANDPROSPECTS85 ITEM6.DIRECTORS,SENIORMANAGEMENTANDEMPLOYEES102 ITEM7.MAJORSHAREHOLDERSANDRELATEDPARTYTRANSACTIONS111 ITEM8.FINANCIALINFORMATION112 ITEM9.THEOFFERANDLISTING113 ITEM10.ADDITIONALINFORMATION113 ITEM11.QUANTITATIVEANDQUALITATIVEDISCLOSURESABOUTMARKETRISK123 ITEM12.DESCRIPTIONOFSECURITIESOTHERTHANEQUITYSECURITIES124 PARTII ITEM13.DEFAULTS,DIVIDENDARREARAGESANDDELINQUENCIESII-1 i ITEM14.MATERIALMODIFICATIONSTOTHERIGHTSOFSECURITYHOLDERSANDUSEII-1 OFPROCEEDS ITEM15. CONTROLSANDPROCEDURES II-2 ITEM16A. AUDITCOMMITTEEFINANCIALEXPERT II-3 ITEM16B. CODEOFETHICS II-4 ITEM16C. PRINCIPALACCOUNTANTFEESANDSERVICES II-4 ITEM16D. EXEMPTIONSFROMTHELISTINGSTANDARDSFORAUDITCOMMITTEES II-4 ITEM16E.