Cheer Holding (CHR) 20-F/A 1 Jun 21 2020 FY Annual report (foreign) (amended) Financial data

Document and Entity Information

Document and Entity Information	12 Months Ended
	Dec. 31, 2020shares
Document and Entity Information [Abstract]
Entity Registrant Name	GLORY STAR NEW MEDIA GROUP HOLDINGS Ltd
Entity Central Index Key	0001738758
Amendment Flag	true
Amendment Description	Glory Star New Media Group Holdings Limited (the "Company") is filing this Amendment No. 1 to Form 20-F/A ("Amendment") to its annual report on Form 20-F for the year ended December 31, 2020 ("Original Form 20-F"), as filed with the Securities and Exchange Commission ("SEC") on March 29, 2021 ("Original Filing Date"). On May 25, 2021, the Company filed a Current Report on Form 6-K with the SEC disclosing the determination by the board of directors, based on the recommendation of and after consultation with the audit committee of the Board of Directors and management, that the Company will restate previously issued consolidated financial statements and related disclosures as of and for the year ended December 31, 2020. Please refer to Note 1, Restatement of Consolidated Financial Statements, of Notes to Consolidated Financial Statements of this Amendment for additional information. The relevant unaudited interim financial information for three months ended March 31, 2020 and June 30, 2020, as well as the six months ended June 30, 2020 is also being restated. The impact of such restatements is included herein. Refer to Note 18, Quarterly Financial Data (Unaudited), of Notes to Consolidated Financial Statements of this Amendment.As a result of the above, the Company is amending Items 3, 5, 15, 18 and 19 to its Original Form 20-F. Other than the Items amended, disclosures in the Original Form 20-F remain unchanged. The Company has not modified or updated disclosures presented in the Original Form 20-F, except as required to reflect the effects of the restatement and the inclusion of the Part III information. Accordingly, this Amendment should be read in conjunction with the Original Form 20-F and does not reflect events occurring after the Original Filing Date of the Original Form 20-F other than as described herein and no attempt has been made in this Amendment to modify or update other disclosures as presented in the Original Form 20-F, except as specifically referenced herein. Accordingly, this Amendment and the Original Form 20-F should be read in conjunction with the Company's filings with the SEC subsequent to the filing of the Original Form 20-F.
Current Fiscal Year End Date	--12-31
Document Type	20-F/A
Document Period End Date	Dec. 31, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Entity Filer Category	Non-accelerated Filer
Entity Current Reporting Status	Yes
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Ex Transition Period	false
Document Annual Report	true
Document Transition Report	false
Document Shell Company Report	false
Entity Shell Company	false
Entity Emerging Growth Company	true
Entity Common Stock, Shares Outstanding	57,886,352
Entity Filer Number	001-38876
Entity Interactive Data Current	Yes
Entity Incorporation State Country Code	E9

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 17,731	$ 6,919
Short-term investment	1,732
Accounts receivable, net	81,110	51,061
Prepayments and other assets, net	2,544	2,499
Total current assets	103,117	60,479
Property and equipment, net	251	331
Intangible assets, net	15,632	14,683
Deferred tax assets	760	533
Unamortized produced content, net	1,300	1,657
Right-of-use assets	1,689	2,027
Prepayments and other assets, net	20,647
Total non-current assets	40,279	19,231
TOTAL ASSETS	143,396	79,710
Current liabilities:
Short-term bank loans	5,160	718
Accounts payable	7,887	4,546
Advances from customers	609	610
Accrued liabilities and other payables	11,291	6,134
Other taxes payable	7,894	1,890
Operating lease liabilities -current	385	313
Due to related parties	730	1,525
Convertible promissory note - related party	1,400
Total current liabilities	35,356	15,736
Long-term bank loan	1,374
Operating lease liabilities - non-current	1,386	1,718
Warrant liability	833
Total non-current liabilities	3,593	1,718
TOTAL LIABILITIES	38,949	17,454
Commitments and contingences
Shareholders' equity
Preferred shares (par value of $0.0001 per share; 2,000,000 authorized; none issued and outstanding)
Ordinary shares (par value of $0.0001 per share; 200,000,000 shares authorized as of December 31, 2019 and December 31, 2020; 41,204,025 and 57,886,352 shares issued and outstanding as of December 31, 2019 and December 31, 2020, respectively)	6	4
Additional paid-in capital	9,159	13,375
Statutory reserve	648	431
Retained earnings	89,271	49,547
Accumulated other comprehensive loss	4,892	(1,576)
TOTAL GLORY STAR NEW MEDIA GROUP HOLDINGS LIMITED SHAREHOLDERS' EQUITY	103,976	61,781
Non-controlling interest	471	475
TOTAL EQUITY	104,447	62,256
TOTAL LIABILITIES AND EQUITY	$ 143,396	$ 79,710

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Preferred shares, par value	$ 0.0001	$ 0.0001
Preferred shares, authorized	2,000,000	2,000,000
Preferred shares, issued
Preferred shares, outstanding
Ordinary shares, par value	$ 0.0001	$ 0.0001
Ordinary shares, authorized	200,000,000	200,000,000
Ordinary shares, issued	57,886,352	41,204,025
Ordinary shares, outstanding	57,886,352	41,204,025

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Income/(Loss) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Income Statement [Abstract]
Revenues	$ 123,763	$ 65,777
Operating expenses:
Cost of revenues	(38,481)	(31,901)
Selling and marketing	(43,827)	(3,154)
General and administrative	(10,095)	(3,134)
Research and development	(691)	(749)
Total operating expenses	(93,094)	(38,938)
Income from operations	30,669	26,839
Other (expenses) income:
Interest expense, net	(282)	(295)
Change in fair value of warrant liability	19,714
Other income, net	531	50
Total other (expenses) income	19,963	(245)
Income before income tax	50,632	26,594
Income tax expense	(1,673)	(191)
Net income	48,959	26,403
Less: net gain (loss) attributable to non-controlling interests	(31)	80
Net income attributable to Glory Star New Media Group Holdings Limited’s shareholders	48,990	26,323
Other comprehensive (loss) income
Unrealized foreign currency translation  (loss) gain	6,495	(974)
Comprehensive income	55,454	25,429
Less: comprehensive gain (loss) attributable to non-controlling interests	(4)	74
Comprehensive income attributable to Glory Star New Media Group Holdings Limited’s shareholders	$ 55,458	$ 25,355
Earnings per ordinary share
Basic	$ 0.91	$ 0.64
Weighted average shares used in calculating earnings per ordinary share
Basic	53,844,237	41,204,025
Earnings per ordinary share
Dilutive	$ 0.83	$ 0.57
Weighted average shares used in calculating earnings per ordinary share
Dilutive	59,126,237	46,484,025

Consolidated Statements of Chan

Consolidated Statements of Changes in Shareholders' Equity - USD ($) $ in Thousands	Preferred shares	Ordinary shares	Additional paid-in capital	Retain earnings	Statutory reserve	Accumulated other comprehensive loss	Total shareholders' equity	Non-controlling interests	Total
Balance at Dec. 31, 2018		$ 4	$ 574	$ 23,840	$ 418	$ (608)	$ 24,228	$ 401	$ 24,629
Balance, shares at Dec. 31, 2018		41,204,025
Capital contribution from a shareholder			2,973				2,973		2,973
Accretion of mezzanine equity				(603)			(603)		(603)
Conversion of mezzanine equity			9,828				9,828		9,828
Appropriation to statutory reserve				(13)	13
Net income				26,323			26,323	80	26,403
Foreign currency translation adjustment						(968)	(968)	(6)	(974)
Balance at Dec. 31, 2019		$ 4	13,375	49,547	431	(1,576)	61,781	475	62,256
Balance, shares at Dec. 31, 2019		41,204,025
Balance at Dec. 31, 2019		$ 4	13,375	49,547	431	(1,576)	61,781	475	62,256
Balance, shares at Dec. 31, 2019		41,204,025
Balance at Dec. 31, 2019		$ 4	13,375	49,547	431	(1,576)	61,781	475	62,256
Balance, shares at Dec. 31, 2019		41,204,025
Reverse recapitalization		$ 1	(13,375)	(9,049)			(22,423)		(22,423)
Reverse recapitalization, shares		6,059,511
Shares-based compensation granted to nonemployees			1,779				1,779		1,779
Shares-based compensation granted to nonemployees, shares		1,357,500
Issuance of shares for the conversion of rights
Issuance of shares for the conversion of rights, shares		2,504,330
Shares on earn out		$ 1	(1)
Shares on earn out, shares		5,000,000
Shares-based compensation granted to employees			5,381				5,381		5,381
Shares-based compensation granted to employees, shares		1,567,000
Issuance of shares through private placement			2,000				2,000		2,000
Issuance of shares through private placement, shares		193,986
Appropriation to statutory reserve				(217)	217
Net income				48,990			48,990	(31)	48,959
Foreign currency translation adjustment						6,468	6,468	27	6,495
Balance at Dec. 31, 2020		$ 6	$ 9,159	$ 89,271	$ 648	$ 4,892	$ 103,976	$ 471	$ 104,447
Balance, shares at Dec. 31, 2020		57,886,352

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 48,959	$ 26,403
Adjustments to reconcile net income to net cash provided by operating activities:
Allowance (Reversal of allowance) for doubtful accounts	(1,136)	188
Depreciation and amortization	2,910	739
Amortization of right-of-use assets	447	314
Deferred income tax expense (benefit)	(181)	190
Share-based compensation for employees	5,381
Share-based compensation for non-employees	1,779
Amortization of loan origination fees	93
Change in fair value of warrant liability	(19,714)
Changes in assets and liabilities
Accounts receivable	(24,043)	(12,705)
Prepayment and other assets	(19,340)	4,549
Unamortized produced content	442	1,261
Accounts payable	2,827	3,925
Advances from customers	(39)	372
Accrued liabilities and other payables	5,177	449
Other taxes payable	5,555	717
Operating lease liabilities	(376)	(310)
Net cash provided by operating activities	8,741	26,092
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property and equipment	(59)	(7)
Prepayments for acquisition of intangible assets	(2,722)	(15,311)
Payments for short term investment	(1,637)
Net cash used in investing activities	(4,418)	(15,318)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from bank loans	6,228	(9,409)
Repayments of bank loans	(724)
Payment of loan origination fees	(146)
Contribution from shareholders		3,185
Cash acquired from the acquisition of TKK	23
Net cash (used in) provided by financing activities	5,381	(6,224)
Effect of exchange rate changes	1,108	(68)
Net increase in cash and cash equivalents	10,812	4,482
Cash and cash equivalents, at beginning of year	6,919	2,437
Cash and cash equivalents, at end of year	17,731	6,919
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Interests paid	239	287
Right of use assets obtained in exchange for operating lease obligations		$ 2,339

Restatement of Consolidated Fin

Restatement of Consolidated Financial Statements	12 Months Ended
	Dec. 31, 2020
Restatement of Consolidated Financial Statements [Abstract]
RESTATEMENT OF CONSOLIDATED FINANCIAL STATEMENTS	1. RESTATEMENT OF CONSOLIDATED FINANCIAL STATEMENTS Glory Star New Media Group Holdings Limited (“GS Holdings”, or the “Company”) has restated its previously issued consolidated financial statements and related disclosures as of and for the year ended December 31, 2020 included in its Annual Report on Form 20-F for the year ended December 31, 2020, filed with the Securities and Exchange Commission (the “SEC”) on March 29, 2021 (the “Original Form 20-F”), in order to correct errors resulting from the incorrect application of generally accepted accounting principles relating to previously issued private warrants. On April 12, 2021, the staff of the Securities and Exchange Commission (the “SEC Staff”) issued a public statement entitled “Staff Statement on Accounting and Reporting Considerations for Warrants issued by Special Purpose Acquisition Companies (“SPACs”)” (the “SEC Staff Statement”). The SEC Staff Statement highlighted potential accounting implications of certain terms that are common in warrants issued in connection with the initial public offerings of SPACs. After considering the SEC Staff Statement, the Company re-evaluated its historical accounting for its warrants and concluded it must amend the accounting treatment of the private warrants issued in connection with the initial public offering of TKK Symphony Acquisition Corporation (“TKK”) and recorded to the Company’s consolidated financial statements as a result of the Company’s merger with TKK and the reverse recapitalization that occurred on February 14, 2020. The warrant agreement governing the Company’s private warrants includes a provision that provides for potential changes to the settlement amounts dependent on the characteristics of the holder of the warrant. Upon review of the statement, the Company’s management further evaluated the warrants under Accounting Standards Codification (“ASC”) Subtopic 815-40, Contracts in Entity’s Own Equity. ASC Section 815-40-15 addresses equity versus liability treatment and classification of equity-linked financial instruments, including warrants, and states that a warrant may be classified as a component of equity only if, among other things, the warrant is indexed to the issuer’s common stock. Under ASC Section 815-40-15, a warrant is not indexed to the issuer’s common stock if the terms of the warrant require an adjustment to the exercise price upon a specified event and that event is not an input to the fair value of the warrant with a fixed exercise price and fixed number of underlying shares. Based on management’s evaluation, the Company’s Audit Committee in consultation with management concluded that the Company’s private warrants are not indexed to the Company’s ordinary shares in the manner contemplated by ASC Section 815-40-15 because the characteristics of the holder of the instrument is not an input into the pricing of a fixed-for-fixed option on equity shares. Based on the re-evaluation, the Company concluded that the public warrants meet the criteria of equity classification and its historical accounting as equity is appropriate, which should be recorded at their relative fair value at the issuance date and remeasurement is not required. The private warrants should be recorded as warrant liability at their fair value on the consolidated balance sheets, and remeasured on each reporting date with changes recorded in revaluation of warrant liability on the Company’s consolidated statements of operations. The following tables reflect the impact of the restatement adjustments to the specific line items presented in the Company’s previously reported consolidated financial statements for the year ended December 31, 2020. The amounts as previously reported were derived from the Company’s Original Form 20-F (in U.S. dollars in thousands, except share and per share data). A summary of the impact of these adjustments to the Company’s consolidated financial statements as of and for the related quarterly periods is provided in Note 18, Quarterly Financial Data (Unaudited). CONSOLIDATED BALANCE SHEETS As of December 31, 2020 As previously reported Restatement Impacts As Restated Liabilities and Equity Warrant liability $ - $ 833 $ 833 Total non-current liabilities 2,760 833 3,593 Total liabilities 38,116 833 38,949 Additional paid-in capital 20,657 (11,498 ) 9,159 Retained earnings 78,606 10,665 89,271 Total equity 105,280 (833 ) 104,447 Total liabilities and equity 143,396 - 143,396 CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME/(LOSS) For the Year Ended December 31, 2020 As previously reported Restatement Impacts As Restated Change in fair value of warrant liability $ - $ 19,714 $ 19,714 Total other income 249 19,714 19,963 Income before income tax 30,918 19,714 50,632 Net income 29,245 19,714 48,959 Net income attributable to Glory Star New Media Group Holdings Limited’s shareholders 29,276 19,714 48,990 Comprehensive income 35,740 19,714 55,454 Comprehensive income attributable to Glory Star New Media Group Holdings Limited’s shareholders 35,744 19,714 55,458 Earnings per ordinary share Basic 0.54 0.37 0.91 Dilutive 0.50 0.33 0.83 CONSOLIDATED STATEMENTS OF CASH FLOWS For the Year Ended December 31, 2020 As previously reported Restatement Impacts As Restated CASH FLOWS FROM OPERATING ACTIVITIES: Net income $ 29,245 $ 19,714 $ 48,959 Adjustments to reconcile net income to net cash provided by operating activities: Change in fair value of warrant liability - (19,714 ) (19,714 ) Net cash provided by operating activities 8,741 8,741

Organization and Principal Acti

Organization and Principal Activities	12 Months Ended
	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION AND PRINCIPAL ACTIVITIES	1A. ORGANIZATION AND PRINCIPAL ACTIVITIES Organization and General GS Holdings was a blank check company incorporated in the Cayman Islands on February 5, 2018 under the former name TKK. GS Holdings was formed for the purpose of entering into a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization or other similar business combination with one or more businesses or entities. The registration statements for TKK's Initial Public Offering ("Initial Public Offering") were declared effective on August 15, 2018. Reverse recapitalization On February 14, 2020, GS Holdings consummated the transaction (the "Business Combination") contemplated by the Share Exchange Agreement dated as of September 6, 2019, as amended ("Share Exchange Agreement"), by and among the Company, Glory Star New Media Group Limited, a Cayman Islands exempted company ("Glory Star"), Glory Star New Media (Beijing) Technology Co., Ltd., a wholly foreign-owned enterprise limited liability company ("WFOE") incorporated in the People's Republic of China ("PRC") and indirectly wholly-owned by Glory Star, Xing Cui Can International Media (Beijing) Co., Ltd., a limited liability company incorporated in the PRC ("Xing Cui Can"), Horgos Glory Star Media Co,. Ltd. ("Horgos"), a limited liability company incorporated in the PRC, each of Glory Star's shareholders (collectively, the "Sellers"), TKK Symphony Sponsor 1, the Company's sponsor (the "Sponsor"), in the capacity as the representative from and after the closing of the Business Combination for GS Holdings' shareholders other than the Sellers, and Bing Zhang, in the capacity as the representative for the Sellers thereunder, pursuant to which GS Holdings acquired 100% of the equity interests of Glory Star from the Sellers. As a result of the Business Combination, Sellers became the controlling shareholders of the Company. The Business Combination was accounted for as a reverse merger, wherein Glory Star is considered the acquirer for accounting and financial reporting purposes and the transaction was treated as a reverse recapitalization of Glory Star. Upon closing of the Business Combination (the "Closing"), the Company acquired all of the issued and outstanding securities of Glory Star in exchange for (i) 41,204,025 of the Company's ordinary shares ("Closing Payment Shares"), of which 2,060,201 of the Closing Payment Shares shall be deposited into escrow to secure certain indemnification obligations of the Sellers, plus (ii) earn out payments consisting of up to an additional 5,000,000 of the Company's ordinary shares if the Company meet certain financial performance targets for the 2019 fiscal year and an additional 5,000,000 of the Company's ordinary shares if the Company meet certain financial performance targets for the 2020 fiscal year (the "Earn Out Shares"). In the event that a financial performance target is not met for the 2019 fiscal year and/or 2020 fiscal year but the Company meet certain financial performance targets for the 2019 fiscal year and 2020 fiscal year combined, the Sellers will be entitled to receive any Earn Out Shares that they otherwise did not receive. After giving effect to the Business Combination and the issuance of the Closing Payment Shares described above, there are 49,767,866 of the Company's ordinary shares issued and outstanding. The reverse recapitalization is equivalent to the issuance of securities by Glory Star for the net monetary assets of TKK, accompanied by a recapitalization. Glory Star would credit equity for the fair value of the net assets of TKK. In the subsequent financial statements after the Business Combination, the amounts of assets and liabilities for the period before the reverse recapitalization in financial statements, are presented as Glory Star's and recognized and measured at their pre-combination carrying amounts. Reorganization of Glory Star Group On November 30, 2018, Glory Star was incorporated as an exempted company with limited liability under the laws of the Cayman Islands. On December 18, 2018, Glory Star New Media Group HK Limited ("Glory Star HK") was established as a wholly-owned subsidiary formed in accordance with laws and regulations of Hong Kong. Glory Star HK is a holding company and holds all the equity interests of Glory Star New Media (Beijing) Technology Co., Ltd.("WFOE"), which was established in the PRC on March 13, 2019. Xing Cui Can was incorporated in Beijing on September 7, 2016 under the laws of the People's Republic of China ("PRC" or "China"). It is a holding company with no business operation. Horgos was incorporated in Horgos Economic District, Xinjiang province, China on November 1, 2016 under the laws of the People's Republic of China ("PRC" or "China"). Horgos is a leading provider and operator of premium lifestyle content through mobile internet in China. Horgos formed some subsidiaries in PRC at the following dates: ● Glory Star Media (Beijing) Co., Ltd. ("Glory Star Beijing"), a company incorporated on December 9, 2016 in Beijing is wholly owned by Horgos. ● Leshare Star (Beijing) Technology Co., Ltd. ("Beijing Leshare"), a company incorporated on March 28, 2016 in Beijing is wholly owned by Horgos. ● Horgos Glary Prosperity Culture Co., Ltd. ("Glary Prosperity"), was incorporated on December 14, 2017 in Horgos Economic District, Xinjiang province and 51% of its shareholding was acquired by Horgos. Horgos Glary Wisdom formed a branch of Horgos Glary Prosperity Culture Co., Ltd. Beijing Branch ("Glary Prosperity Beijing Branchy") on May 8, 2018. ● Shenzhen Leshare Investment Co., Ltd. ("Shenzhen Leshare"), a company incorporated on June 27, 2018 in ShenZhen, Guangdong province is wholly owned by Horgos. Shenzhen Leshare is dormant as of December 31, 2018. ● Horgos Glary Wisdom Marketing Planning Co., Ltd. ("Horgos Glary Wisdom") was incorporated on June 13, 2018 in Horgos Economic District, Xinjiang province and 51% of its shareholding was acquired by Horgos. Horgos Glary Wisdom formed a subsidiary as Glary Wisdom (Beijing) Marketing Planning Co., Ltd. ("Beijing Glary Wisdom") on September 10, 2018. ● Glory Star (Horgos) Media Technology Co., Ltd ("Horgos Technology") was incorporated on September 9, 2020 in Horgos Economic District, Xinjiang province and is wholly owned by Horgos. In September 2019, WFOE has entered into a series of contractual arrangements with (i) Xing Cui Can and its shareholders, and (ii) Horgos and its shareholders, which allow Glory Star to exercise effective control over Xing Cui Can and Horgos and receive substantially all the economic benefits of Xing Cui Can and Horgos (the "VIEs"). These contractual agreements include Business Cooperation Agreement, Exclusive Option Agreement, Share Pledge Agreement, Proxy Agreement and Power of Attorney and Master Exclusive Service Agreement (collectively "VIEs Agreements"). Glory Star together with its wholly-owned subsidiary Glory Star HK and WFOE and its VIEs and VIEs' subsidiaries were effectively controlled by the same shareholders after the reorganization. The VIE contractual arrangements Current PRC laws and regulations impose certain restrictions or prohibitions on foreign ownership of companies that engage in value-added telecommunication services, and certain other business. Glory Star Beijing is considered a foreign-invested enterprise. To comply with PRC laws and regulations, Glory Star primarily conducts its business in China through Xing Cui Can and Horgos and its subsidiaries, based on a series of contractual arrangements. The following is a summary of the contractual arrangements that provide Glory Star with effective control of Glory Star's VIEs and VIEs' subsidiaries and that enables it to receive substantially all the economic benefits from its operations. Each of the VIEs Agreements is described in detail below: Business Cooperation Agreement WFOE entered into separate business cooperation agreements with Xing Cui Can and Horgos, and their respective shareholders in September 2019, pursuant to which (1) each VIE shall not enter into any transaction which may materially affect such VIE's assets, obligations, rights and operations without the written consent of WFOE; (2) each VIE and the VIE shareholders agrees to accept suggestions by WFOE in respect of the employment and dismissal of such VIE's employees, daily operations, dividend distribution and financial management of such VIE; and (3) the VIE and the VIE shareholders shall only appoint individuals designated by WFOE as the director, general manager, chief financial officer and other senior management members. In addition, each of the VIE shareholders agree that (i) unless required by WFOE, will not make any decisions or otherwise request the VIE to distribute any profits, funds, assets or property to the VIE shareholders, (ii) or issue any dividends or other distribution with respect to the shares of the VIE held by the VIE shareholders. The term of each of these business cooperation agreements are perpetual unless terminated by WFOE upon thirty (30) days advance notice, or upon the transfer of all shares of the respective VIEs to WFOE (or its designee). Exclusive Option Agreement WFOE entered into a separate exclusive option agreement with Xing Cui Can and Horgos, and their respective shareholders in September 2019. Pursuant to these exclusive option agreements, the VIE shareholders have granted WFOE (or its designee) an option to acquire all or a portion of each of their equity interests in the VIEs at the price equivalent to the lowest price then permitted under PRC law. If the equity interests are transferred in installments, the purchase price for each installment shall be pro rata to the equity interests transferred. WFOE may, at its sole discretion, at any time exercise the option granted by the VIE shareholders. Moreover, WFOE may transfer such option to any third party. The VIE shareholders may not, among other obligations, change or amend the articles of association and bylaws of the VIE, increase or decrease the registered capital of the VIEs, sell, transfer, mortgage or dispose of their equity interest in any way, or incur, inherit, guarantee or assume any debt except for debts incurred in the ordinary course of business unless otherwise expressly agreed to by WFOE, and enter into any material contracts except in the ordinary course of business unless otherwise expressly agreed to by WFOE. The term of each of these exclusive option agreements is 10 years and will be extended automatically for successive 5-year terms except where WFOE provides prior written notice otherwise. The exclusive option agreements may be terminated by WFOE upon thirty (30) days advance notice, or upon the transfer of all shares of the respective VIEs to WFOE (or its designee). Share Pledge Agreement WFOE entered into a separate share pledge agreement with Xing Cui Can and Horgos, and their respective shareholders in September 2019. Pursuant to these share pledge agreements, the VIE shareholders have pledged all of their equity interests in the VIEs as priority security interest in favor of WFOE to secure the performance of the VIEs and their shareholders' performance of their obligations under, where applicable, (i) Master Exclusive Service Agreement, (ii) Business Cooperation Agreement, and (iii) the Exclusive Option Agreement (collectively the "Principal Agreements"). WFOE is entitled to exercise its right to dispose of the VIE shareholders' pledged interests in the equity of the VIE in the event that either the VIE shareholders or the VIE fails to perform their respective obligations under the Principal Agreements. The equity pledges on the VIE's equity interests are in the process of being registered with the Market Supervision Administration Authority in China. The equity pledge agreements will remain in full force and remain effective until the VIE and the VIE shareholders have satisfied their obligations under the Principal Agreements. Proxy Agreement and Power of Attorney WFOE entered into a separate Proxy Agreement and Power of Attorney with Xing Cui Can and Horgos, and their respective shareholders in September 2019. Pursuant to the proxy agreement and power of attorney, each VIE shareholders irrevocably nominates and appoints WFOE or any natural person designated by WFOE as its attorney-in-fact to exercise all rights of such VIE equity holder has in such VIE, including, but not limited to, (i) execute and deliver any and all written decisions and to sign any minutes of meetings of the board or shareholder of the VIE, (ii) to make shareholder's decision on any matters of the VIE, including without limitations, the sale, transfer, mortgage, pledge or disposal of any or all of the assets of the VIE, (iii) to sell, transfer, pledge or dispose of any or all shares in the VIE, (iv) to nominate, appoint, or remove the directors, supervisors and senior management members of the VIE when necessary, (v) to oversee the business performance of the VIE, (vi) to have full access to the financial information of the VIE, (vii) to file any shareholder lawsuits or to take other legal actions against the VIE's directors or senior management members, (viii) to approve annual budget or declare dividends, (ix) to manage and dispose of the assets of the VIE, (x) to have the full rights to control and manage the VIE's finance, accounting and daily operations, (xi) to approve filing of any documents with the relevant governmental authorities or regulatory bodies, and (xii) any other rights provided by the VIE's charters and/or the relevant laws and regulations on the VIE shareholders. The proxy agreement and power of attorney shall remain in effect during the term of the Exclusive Service Agreement. Confirmation and Guarantee Letter Each of the VIE shareholders signed a confirmation and guarantee letter in September 2019, pursuant to which each VIE equity holder agreed that to fully implement the arrangements set forth in the Principal Agreements, Share Pledge Agreement, and the Proxy Agreement and Power of Attorney, and agrees to not carry out any act which may be contrary to the purpose or intent of such agreements. Master Exclusive Service Agreement WFOE entered into separate exclusive service agreement with Xing Cui Can and Horgos in September 2019, pursuant to which WFOE provides exclusive technology support and services, staff training and consultation services, public relation services, market development, planning and consultation services, human resource management services, licensing of intellectual property, and other services as determined by the parties. In exchange, the VIEs pay service fees to WFOE equal to the pre-tax profits of the VIEs less (i) accumulated losses of the VIEs and their subsidiaries in the previous financial year, (ii) operating costs, expenses, and taxes, and (iii) reasonable operating profit under applicable PRC tax law and practices. During the term of these agreements, WFOE has the right to adjust the amount and time of payment of the service fees at its sole discretion without the consent of the VIEs. WFOE (or its service provider) will own any intellectual property arising from the performance of these agreements. The term of each of these exclusive service agreements are perpetual unless terminated by WFOE upon thirty (30) advance notice, or upon the transfer of all shares of the respective VIEs to WFOE (or its designee) 10 years under the Option Agreement. Risks in relation to the VIE structure Glory Star believes that the contractual arrangements with its VIEs and their respective shareholders are in compliance with PRC laws and regulations and are legally enforceable. However, uncertainties in the PRC legal system could limit the Glory Star's ability to enforce the contractual arrangements. If the legal structure and contractual arrangements were found to be in violation of PRC laws and regulations, the PRC government could: ● revoke the business and operating licenses of the Company's PRC subsidiary and VIEs; ● discontinue or restrict the operations of any related-party transactions between the Company's PRC subsidiary and VIEs; ● limit the Company's business expansion in China by way of entering into contractual arrangements; ● impose fines or other requirements with which the Company's PRC subsidiary and VIEs may not be able to comply; ● require the Company or the Company's PRC subsidiary and VIEs to restructure the relevant ownership structure or operations; or ● restrict or prohibit the Company's use of the proceeds of the additional public offering to finance. Total assets and liabilities presented on the Company's Consolidated Balance Sheets and revenue, expense, net income presented on Consolidated Statements of Operations as well as the cash flow from operating, investing and financing activities presented on the Consolidated Statements of Cash Flows are substantially the financial position, operation and cash flow of the Glory Star's VIEs and subsidiaries of VIEs. Glory Star has not provided any financial support to VIEs for the years ended December 31, 2019 and 2020. The following financial statements amounts and balances of the VIEs and VIEs' subsidiaries were included in the consolidated financial statements as of December 31, 2019 and 2020 and for the years ended December 31, 2019 and 2020: As of December 31, 2019 2020 Total assets $ 79,710 $ 143,356 Total liabilities $ 17,454 $ 37,095 For the Years Ended 2019 2020 Total revenues $ 65,777 $ 123,763 Net income $ 26,403 $ 37,649 Net cash provided by operating activities $ 26,092 $ 8,731 Net cash used in investing activities $ (15,318 ) $ (4,418 ) Net cash (used in) provided by financing activities $ (6,224 ) $ 5,358 The Company believes that there are no assets in the VIEs that can be used only to settle specific obligations of the VIEs, except for the registered capital of the VIEs and non-distributable statutory reserves. As the VIEs are incorporated as limited liability companies under the PRC Company Law, creditors of the VIEs do not have recourse to the general credit of the Company for any of the liabilities of the VIEs. There are no terms in any arrangements, explicitly or implicitly, requiring the Company or its subsidiaries to provide financial support to the VIEs. However, if the VIEs were ever to need financial support, the Company may, at its option and subject to statutory limits and restrictions, provide financial support to its VIEs through loans.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (a) Basis of presentation The accompanying consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The consolidated financial statements include the financial statements of the Company, its subsidiaries, its VIEs and its VIEs’ subsidiaries. All inter-company transactions and balances have been eliminated upon consolidation. (b) Use of estimates The preparation of financial statements in conformity with U.S. GAAP requires to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period and accompanying notes, including allowance for doubtful accounts, allowance for unamortized production content, the useful lives of property and equipment and intangible assets, impairment of long-lived assets, valuation allowance for deferred tax assets and revenue recognition. Actual results could differ from those estimates. (c) Fair value Measurement The Company applies ASC Topic 820, Fair Value Measurements and Disclosures which defines fair value, establishes a framework for measuring fair value and expands financial statement disclosure requirements for fair value measurements. ASC Topic 820 defines fair value as the price that would be received from the sale of an asset or paid to transfer a liability (an exit price) on the measurement date in an orderly transaction between market participants in the principal or most advantageous market for the asset or liability. ASC Topic 820 specifies a hierarchy of valuation techniques, which is based on whether the inputs into the valuation technique are observable or unobservable. The hierarchy is as follows: Level 1 inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets. Level 2 inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the assets or liability, either directly or indirectly, for substantially the full term of the financial instruments. Level 3 inputs to the valuation methodology are unobservable and significant to the fair value. Unobservable inputs are valuation technique inputs that reflect the Company’s own assumptions about the assumptions that market participants would use in pricing an asset or liability. Management of the Company is responsible for considering the carrying amount of cash and cash equivalents, short-term investments, accounts receivable, prepayment and other current assets, short-term bank loans, accounts payable, advances from customers, accrued liabilities and other payables and other taxes payable based on the short-term maturity of these instruments to approximate their fair values because of their short-term nature. (d) Cash and cash equivalents Cash consists of cash on hand and cash in banks. The Company maintains cash with various financial institutions in China. As of December 31, 2019 and 2020, cash balances are $6,919 and $17,731, respectively, which are uninsured. The Company has not experienced any losses in bank accounts and believes it is not exposed to any risks on its cash in bank accounts. (e) Short-term investment Short-term investment represents the investment in structural deposits in a financial institution in the PRC which are redeemable at the option of the Company on any working day. The Company accounts for all highly liquid investments with original maturities of greater than three months, but less than 12 months as short-term investments. Interest income are included in earnings. (f) Accounts Receivable, net Accounts receivable represent the amounts that the Company has an unconditional right to consideration (including billed and unbilled amount) when the Company has satisfied its performance obligation. The Company does not have any contract assets since revenue is recognized when control of the promised services is transferred and the payment from customers is not contingent on a future event. The Company maintains allowance for potential credit losses on accounts receivable. Management reviews the composition of accounts receivable and analyses historical bad debt, customer concentrations, customer credit worthiness, current economic trends and changes in customer payment patterns to estimate the allowance. Past due accounts are generally written off against the allowance for bad debts only after all collection attempts have been exhausted and the potential for recovery is considered remote. (g) Unamortized produced content Produced content includes direct production costs, production overhead and acquisition costs and is stated at the lower of unamortized cost or estimated fair value. Produced content also includes cash expenditures made to enter into arrangements with third parties to co-produce certain of its productions. The Company uses the individual-film-forecast-computation method and amortizes the produced content based on the ratio of current period actual revenue (numerator) to estimated remaining unrecognized ultimate revenue as of the beginning of the fiscal year (denominator) in accordance with ASC 926. Ultimate revenue estimates for the produced content are periodically reviewed and adjustments, if any, will result in prospective changes to amortization rates. When estimates of total revenues and other events or changes in circumstances indicate that a film or television series has a fair value that is less than its unamortized cost, a loss is recognized currently for the amount by which the unamortized cost exceeds the film or television series’ fair value. For the years ended December 31, 2019 and 2020, $17,199 and $15,970 were amortized to the cost of sales, respectively, and as of December 31, 2019 and 2020, no impairment allowance was recorded. (h) Property and equipment, net Property and equipment are stated at cost less accumulated depreciation and depreciated on a straight-line basis over the estimated useful lives of the assets. Cost represents the purchase price of the asset and other costs incurred to bring the asset into its existing use. The cost of repairs and maintenance is expensed as incurred; major replacements and improvements are capitalized. When assets are retired or disposed of, the cost and accumulated depreciation are removed from the accounts, and any resulting gains or losses are included in income/loss in the year of disposition. Estimated useful lives are as follows: Estimated Useful Life Electric equipment 3 Years Office equipment and furniture 3 - 5 Years Leasehold improvement Shorter of useful life or lease term (i) Intangible asset, net Intangible asset is stated at cost less accumulated amortization and amortized in a method which reflects the pattern in which the economic benefits of the intangible asset are expected to be consumed or otherwise used up. The balance of intangible asset represents software related to CHEERS App, a mobile application that allows its users to access its online store (e-Mall), video content, live streaming, and online games. The software is acquired externally tailored to the Company’s requirements and is amortized straight-line over 7 years in accordance with the way the Company estimates to generate economic benefits from such software. (j) Impairment of long-lived Assets In accordance with ASC Topic 360, the Company reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be fully recoverable, or at least annually. The Company recognizes an impairment loss when the sum of expected undiscounted future cash flows is less than the carrying amount of the asset. The amount of impairment is measured as the difference between the asset’s estimated fair value and its book value. The Company did not record any impairment charge for the years ended December 31, 2019 and 2020. (k) Leases In February 2016, the Financial Accounting Standards Board (the “FASB”) issued ASU 2016-02, Leases (Topic 842), which is effective for annual reporting periods (including interim periods) beginning after December 15, 2018, and early adoption is permitted. The Company has adopted the Topic 842 on January 1, 2019 using a modified retrospective approach reflecting the application of the standard to leases existing at, or entered into after, the beginning of the earliest comparative period presented in the consolidated financial statements. The Company leases its offices, which are classified as operating leases in accordance with Topic 842. Under Topic 842, lessees are required to recognize the following for all leases (with the exception of short-term leases) on the commencement date: (i) lease liability, which is a lessee’s obligation to make lease payments arising from a lease, measured on a discounted basis; and (ii) right-of-use asset, which is an asset that represents the lessee’s right to use, or control the use of, a specified asset for the lease term. At the commencement date, the Company recognizes the lease liability at the present value of the lease payments not yet paid, discounted using the interest rate implicit in the lease or, if that rate cannot be readily determined, the Company’s incremental borrowing rate for the same term as the underlying lease. The right-of-use asset is recognized initially at cost, which primarily comprises the initial amount of the lease liability, plus any initial direct costs incurred, consisting mainly of brokerage commissions, less any lease incentives received. All right-of-use assets are reviewed for impairment. No impairment for right-of-use lease assets as of December 31, 2019 and 2020. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants. (l) Advances from customers Advances from customers amounted to $610 and $609 at December 31, 2019 and 2020, respectively, which represent advance payment received from our customers for goods or services that had not yet been provided. The Company will recognize the advances as revenue when it has transferred control of the goods or services to which the advances relate, and has no obligation under the contract to transfer additional goods or services. (m) Value Added Tax Horgos and its China subsidiaries are subject to VAT for providing services and sales of products. The amount of VAT liability is determined by applying the applicable tax rates to the invoiced amount of services provided and sales of products (output VAT) less VAT paid on purchases made with the relevant supporting invoices (input VAT). The Company reports revenue net of PRC’s VAT for all the periods presented in the consolidated statements of operations. (n) Revenue Recognition The Company early adopted the new revenue standard Accounting Standards Codification (“ASC”) 606, Revenue from Contracts with Customers, on January 1, 2017. The core principle of this new revenue standard is that a company should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. The following five steps are applied to achieve that core principle: ● Step 1: Identify the contract with the customer ● Step 2: Identify the performance obligations in the contract ● Step 3: Determine the transaction price ● Step 4: Allocate the transaction price to the performance obligations in the contract ● Step 5: Recognize revenue when the company satisfies a performance obligation The Company mainly offers and generates revenue from the copyright licensing of self-produced content, advertising and customized content production and others. Revenue recognition policies are discussed as follows: Copyright revenue The Company self produces or coproduces TV series featuring lifestyle, culture and fashion, and licenses the copyright of the TV series on an episode basis to the customer for broadcast over a period of time. Generally, the Company signs a contract with a customer which requires the Company to deliver a series of episodes that are substantially the same and that have the same pattern of transfer to the customer. Accordingly, the delivery of the series of episodes is defined as the only performance obligation in the contract. For the TV series produced solely by the Company, the Company satisfies its performance obligation over time by measuring the progress toward the delivery of the entire series of episodes which is made available to the licensee for exhibition after the license period has begun. Therefore, the copyright revenue in a contract is recognized over time based on the progress of the number of episodes delivered. The Company also coproduces TV series with other producers and licenses the copyright to third-party video broadcast platforms for broadcast. For TV series produced by Glory Star Group with co-producers, the Company satisfies its performance obligations over time by the delivery of the entire series of episodes to the customer, and requires the customer to pay consideration based on the number and the unit price of valid subsequent views of the TV series that occur on a broadcast platform. Therefore, the copyright revenue is recognized when the later of the valid subsequent view occurs or the performance obligation relating to the delivery of a number of episodes has been satisfied. Advertising revenue The Company generates revenue from sales of various forms of advertising on its TV series and streaming content by way of 1) advertisement displays, or 2) the integration of promotion activities in TV series and content to be broadcast. Advertising contracts are signed to establish the different contract prices for different advertising scenarios, consistent with the advertising period. The Company enters into advertising contracts directly with the advertisers or the third-party advertising agencies that represent advertisers. (n) Revenue Recognition (cont.) For the contracts that involve the third-party advertising agencies, the Company is principal as the Company is responsible for fulfilling the promise of providing advertising services and has the discretion in establishing the price for the specified advertisement. Under a framework contract, the Company receives separate purchase orders from advertising agencies before the broadcast. Accordingly, each purchase order is identified as a separate performance obligation, containing a bundle of advertisements that are substantially the same and that have the same pattern of transfer to the customer. Where collectability is reasonably assured, revenue is recognized monthly over the service period of the purchase order. For contracts signed directly with the advertisers, the Company commits to display a series of advertisements which are substantially the same or similar in content and transfer pattern, and the display of the whole series of advertisements is identified as the single performance obligation under the contract. The Company satisfies its performance obligations over time by measuring the progress toward the display of the whole series of advertisements in a contract, and advertising revenue is recognized over time based on the number of advertisements displayed. Payment terms and conditions vary by contract types, and terms typically include a requirement for payment within a period from 6 to 9 months. Both direct advertisers and third-party advertising agencies are generally billed at the end of the display period and require the Company to issue VAT invoices in order to make their payments. Customized content production revenue The Company produces customized short streaming videos according to its customers’ requirement, and earns fixed fees based on delivery. Revenue is recognized upon the delivery of short streaming videos. CHEERS E-mall marketplace service revenue The Company through CHEERS E-mall, an online e-commerce platform, enables third-party merchants to sell their products to consumers in China. The Company charges fees for platform services to merchants for sales transactions completed on the Cheer E-Mall including but not limited to products displaying, promotion and transaction settlement services. The Company does not take control of the products provided by the merchants at any point in the time during the transactions and does not have latitude over pricing of the merchandise. Transaction services fee is determined as the difference between the platform sales price and the settlement price with the merchants. CHEERS E-mall marketplace service revenue is recognized at a point of time when the Company’s performance obligation to provide marketplace services to the merchants are determined to have been completed under each sales transaction upon the consumers confirming the receipts of goods. Payments for services are generally received before deliveries. (n) Revenue Recognition (cont.) The Company provides coupons to consumers at our own discretion as incentives to promote CHEERS E-mall marketplace with validity usually around or less than one week, which can only be used in future purchases of eligible merchandise offered on CHEERS E-mall to reduce purchase price that are not specific to any merchant. Consumers are not customers of the Company, therefore incentives offered to consumers are not considered consideration payable to customers. As the consumers are required to make future purchases of the merchants’ merchandise to redeem these coupons, the Company does not accrue any expense for coupons when granted and recognizes the amounts of redeemed coupons as marketing expenses when future purchases are made. Other Revenues Other revenue primarily consists of copyrights trading of purchased and produced TV-series and the sales of products on Taobao platform. For copyright licensing of purchased and produced TV-series, the Company recognize revenue on net basis at a point of time upon the delivery of master tape and authorization of broadcasting right. For sales of product, the company recognize revenue upon the transfer of products according to the fixed price and production amount in sales orders. The following table identifies the disaggregation of our revenue for the years ended December 31, 2019 and 2020, respectively: For the years ended 2019 2020 (In U.S. dollars in thousands) Category of Revenue: Advertising revenue $ 48,391 $ 104,664 Customized content production revenue 9,098 10,200 Copyrights revenue 7,369 6,883 CHEERS e-Mall marketplace service revenue 670 1,517 Other revenue 249 499 Total $ 65,777 $ 123,763 Timing of Revenue Recognition: Services transferred over time $ 64,858 $ 121,747 Services transferred at a point in time 670 1,517 Goods transferred at a point in time 249 499 Total $ 65,777 $ 123,763 The Company applied a practical expedient to expense costs as incurred for costs to obtain a contract with a customer when the amortization period would have been one year or less. The Company does not have any significant incremental costs of obtaining contracts with customers incurred and/or costs incurred in fulfilling contracts with customers within the scope of ASC Topic 606, that shall be recognized as an asset and amortized to expenses in a pattern that matches the timing of the revenue recognition of the related contract. (o) Cost of revenues Cost of revenues consists primarily of production cost of TV series, short stream video and live streaming, labour cost and related benefits, payments to various channel owners for broadcast, purchase cost of goods and copyrights and costs associated with the operation of the Company’s online game and shopping platform CHERRS App such as bandwidth cost and amortization of intangible assets. (p) Share-based compensation The Company periodically grants restricted ordinary shares to eligible employees and non-employee consultants. The Group accounts for share-based awards issued to employees and non-employee consultants in accordance with ASC Topic 718 Compensation – Stock Compensation. The share-based awards are measured at the grant date fair value of the awards and recognized as expenses a) immediately at grant date if no vesting conditions are required; or b) using the straight line method over the requisite service period, which is the vesting period. Share-based compensation in relation to the restricted ordinary shares is measured based on the fair value of its ordinary shares on the date of the grant. The Group recognizes the compensation cost, net of estimated forfeitures, over a vesting term for service-based restricted shares. Forfeitures are estimated at the time of grant and revised in the subsequent periods if actual forfeitures differ from those estimates. (q) Income Taxes The Company accounts for income taxes using the asset/liability method prescribed by ASC 740, “Income Taxes.” Under this method, deferred tax assets and liabilities are determined based on the difference between the financial reporting and tax bases of assets and liabilities using enacted tax rates that will be in effect in the period in which the differences are expected to reverse. The Company records a valuation allowance to offset deferred tax assets if, based on the weight of available evidence, it is more-likely-than-not that some portion, or all, of the deferred tax assets will not be realized. The effect on deferred taxes of a change in tax rates is recognized as income or loss in the period that includes the enactment date. The provisions of ASC 740-10-25, “Accounting for Uncertainty in Income Taxes,” prescribe a more-likely-than not threshold for consolidated financial statement recognition and measurement of a tax position taken (or expected to be taken) in a tax return. This interpretation also provides guidance on the recognition of income tax assets and liabilities, classification of current and deferred income tax assets and liabilities, accounting for interest and penalties associated with tax positions, and related disclosures. The Company does not believe that there was any uncertain tax position at December 31, 2019 and 2020. The Company’s operating subsidiaries in PRC are subject to examination by the relevant tax authorities. According to the PRC Tax Administration and Collection Law, the statute of limitations is three years if the underpayment of taxes is due to computational errors made by the taxpayer or the withholding agent. The statute of limitations is extended to five years under special circumstances, where the underpayment of taxes is more than RMB 100,000 ($14,364). In the case of transfer pricing issues, the statute of limitation is ten years. There is no statute of limitation in the case of tax evasion. As of December 31, 2020, the tax years ended December 31, 2017 through December 31, 2020 for the Company’s PRC subsidiaries remain open for statutory examination by PRC tax authorities. (r) Non-controlling Interest A non-controlling interest in a subsidiary of the Company represents the portion of the equity (net assets) in the subsidiary not directly or indirectly attributable to the Company. Non-controlling interests are presented as a separate component of equity on the Consolidated Balance Sheet and net income and other comprehensive income are attributed to controlling and non-controlling interests. (s) Earnings per Share The Company computes earnings per share (“EPS”) in accordance with ASC 260, “Earnings per Share” (“ASC 260”). ASC 260 requires companies with complex capital structures to present basic and diluted EPS. Basic EPS is measured as net income/(loss) attributable to ordinary shareholders divided by the weighted average common shares outstanding for the period. Diluted EPS is similar to basic EPS but presents the dilutive effect on a per share basis of potential common shares (e.g., convertible securities, earn out shares, warrants and stock options) as if they had been converted at the beginning of the periods presented, or issuance date, if later. Potential common shares that have an anti-dilutive effect (i.e., those that increase income per share or decrease loss per share) are excluded from the calculation of diluted EPS. There is no anti-dilutive effect for the years ended December 31, 2019 and 2020. (t) Related Parties Parties are considered to be related to the Company if the parties, directly or indirectly, through one or more intermediaries, control, are controlled by, or are under common control with the Company. Related parties also include principal owners of the Company, its management, members of the immediate families of principal owners of the Company and its management and other parties with which the Company may deal with if one party controls or can significantly influence the management or operating policies of the other to an extent that one of the transacting parties might be prevented from fully pursuing its own separate interests. The Company discloses all significant related party transactions in Note 11. (u) Concentration and Credit Risk Substantially all of the Company’s operating activities are transacted into RMB, which is not freely convertible into foreign currencies. All foreign exchange transactions take place either through the People’s Bank of China or other banks authorized to buy and sell foreign currencies at the exchange rates quoted by the People’s Bank of China. Approval of foreign currency payments by the People’s Bank of China or other regulatory institutions require submitting a payment application form together with suppliers’ invoices, shipping documents and signed contracts. The Company maintains certain bank accounts in the PRC, Hong Kong and Cayman, which are not insured by Federal Deposit Insurance Corporation (“FDIC”) insurance or other insurance. As of December 31, 2019 and 2020, $6,919 and $17,730 of the Company’s cash were on deposit at financial institutions in the PRC where there currently is no rule or regulation requiring such financial institutions to maintain insurance to cover bank deposits in the event of bank failure. Accounts receivable are typically unsecured and derived from revenue earned from customers, thereby exposed to credit risk. The risk is mitigated by the Company’s assessment of its customers’ creditworthiness and its ongoing monitoring of outstanding balances. (u) Concentration and Credit Risk (cont.) The Company’s sales are made to customers that are located primarily in China. The Company has a concentration of its revenues and receivables with specific customers. For the years ended December 31, 2019 and 2020, a major customer accounted for 15% and 14% of the Company’s total revenue, respectively. The top five customers accounted for 79% of net accounts receivable as of December 31, 2019, with each customer representing 21%, 18%, 17%, 11% and 12% of the net accounts receivable balance, respectively. As of December 31, 2020, the top five customers accounted for 70% of net accounts receivable, with each customer representing 18%, 14%, 13%, 13% and 12% of the net accounts receivable balance. For the years ended December 31, 2019 and 2020, one major supplier accounted for 41% and 37% of accounts payable, respectively. (v) Foreign Currency Translation The reporting currency of the Company is the U.S. dollar (“USD”). The functional currency of subsidiaries, VIEs and VIEs’ subsidiaries located in China is the Chinese Renminbi (“RMB”). For the entities whose functional currency is the RMB, result of operations and cash flows are translated at average exchange rates during the period, assets and liabilities are translated at the unified exchange rate at the end of the period, and equity is translated at historical exchange rates. As a result, amounts relating to assets and liabilities reported on the statements of cash flows may not necessarily agree with the changes in the corresponding balances on the balance sheets. Translation adjustments resulting from the process of translating the local currency financial statements into U.S. dollars are included in determining comprehensive income/loss. Transactions denominated in foreign currencies are translated into the functional currency at the exchange rates prevailing on the transaction dates. Assets and liabilities denominated in foreign currencies are translated into the functional currency at the exchange rates prevailing at the balance sheet date with any transaction gains and losses that arise from exchange rate fluctuations on transactions denominated in a currency other than the functional currency are included in the results of operations as incurred. All of the Company’s revenue and expense transactions are transacted in the functional currency of the operating subsidiaries. The Company does not enter into any material transaction in foreign currencies. Transaction gains or losses have not had, and are not expected to have, a material effect on the results of operations of the Company. The consolidated balance sheet amounts, with the exception of equity, at December 31, 2019 and 2020 were translated at RMB 6.9618 to $1.00 and at RMB 6.5250 to $1.00, respectively. Equity accounts were stated at their historical rates. The average translation rates applied to consolidated statements of operations and cash flows for the years ended December 31, 2019 and 2020 were RMB 6.9081 to $1.00 and RMB 6.9042 to $1.00, respectively. (w) Recent Accounting Pronouncements In June 2016, the FASB issued ASU No. 2016-13, “Measurement of Credit Losses on Financial Instruments (Topic 326)”, which significantly changes the way entities recognize impairment of many financial assets by requiring immediate recognition of estimated credit losses expected to occur over their remaining life, instead of when incurred. In November 2018, the FASB issued ASU No. 2018-19, “Codification Improvements to Topic 326, Financial Instruments—Credit Losses”, which amends Subtopic 326-20 (created by ASU No.2016-13) to explicitly state that operating lease receivables are not in the scope of Subtopic 326-20. Additionally, in April 2019, the FASB issued ASU No.2019-04, “Codification Improvements to Topic 326, Financial Instruments—Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments”, in May 2019, the FASB issued ASU No. 2019-05, “Financial Instruments—Credit Losses (Topic 326): Targeted Transition Relief”, and in November 2019, the FASB issued ASU No. 2019-10, “Financial Instruments—Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842): Effective Dates”, and ASU No. 2019-11, “Codification Improvements to Topic 326, Financial Instruments—Credit Losses”, to provide further clarifications on certain aspects of ASU No. 2016-13 and to extend the nonpublic entity effective date of ASU No. 2016-13. The changes (as amended) are effective for the Company for annual and interim periods in fiscal years beginning after December 15, 2022, and the Company is in the process of evaluating the potential effect on its consolidated financial statements. In December 2019, the FASB issued ASU No. 2019-12, “Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes” (“ASU 2019-12”), which is intended to simplify various aspects related to accounting for income taxes. ASU 2019-12 removes certain exceptions to the general principles in Topic 740 and also clarifies and amends existing guidance to improve consistent application. This guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020, with early adoption permitted. The Company is currently assessing the impact of adopting this standard, but based on a preliminary assessment, does not expect the adoption of this guidance to have a material impact on its consolidated financial statements. Other accounting standards that have been issued or proposed by FASB that do not require adoption until a future date are not expected to have a material impact on the consolidated financial statements upon adoption. The Company does not discuss recent pronouncements that are not anticipated to have an impact on or are unrelated to its consolidated financial condition, results of operations, cash flows or disclosures.

Accounts Receivable, Net

Accounts Receivable, Net	12 Months Ended
	Dec. 31, 2020
Accounts Receivable, after Allowance for Credit Loss [Abstract]
ACCOUNTS RECEIVABLE, NET	3. ACCOUNTS RECEIVABLE, NET As of December 31, 2019, and 2020, accounts receivable consisted of the following: December 31, December 31, Accounts receivable - gross $ 53,007 $ 81,996 Allowance for doubtful accounts (1,946 ) (886 ) Accounts receivables, net $ 51,061 $ 81,110 The Company recorded $189 of bad debt expense for the year ended December 31, 2019 and reversed bad debt expense of $1,126 for the year ended December 31, 2020.

Prepayment and Other Assets

Prepayment and Other Assets	12 Months Ended
	Dec. 31, 2020
Prepayment and Other Assets [Abstract]
PREPAYMENT AND OTHER ASSETS	4. PREPAYMENT AND OTHER ASSETS As of December 31, 2019, and 2020, prepayment and other assets consisted of the following: December 31, December 31, Prepayment for outsourced production cost $ 1,912 $ 1,052 Prepayment for co-produced TV series - 17,464 Advances to vendors 72 4,544 Staff advance 182 15 Others 333 116 Subtotal 2,499 23,191 Less: allowance for doubtful accounts - - Prepayment and other assets, net $ 2,499 $ 23,191 Including: Prepayment and other current assets, net $ 2,499 $ 2,544 Prepayment and other non-current assets, net $ - $ 20,647

Property and Equipment, Net

Property and Equipment, Net	12 Months Ended
	Dec. 31, 2020
Property and Equipment, Net [Abstract]
PROPERTY AND EQUIPMENT, NET	5. PROPERTY AND EQUIPMENT, NET As of December 31, 2019, and 2020, property and equipment consisted of the following: December 31, December 31, Electronic equipment $ 720 $ 821 Office equipment and furniture 63 77 Leasehold improvement 128 110 911 1,008 Less: accumulated depreciation (580 ) (757 ) $ 331 $ 251 For the years ended December 31, 2019 and 2020, depreciation expense amounted to $207 and $156 respectively.

Intangible Assets, Net

Intangible Assets, Net	12 Months Ended
	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE ASSETS, NET	6. INTANGIBLE ASSETS, NET As of December 31, 2019, and 2020, intangible assets consisted of the following: December 31, December 31, Intangible assets – gross $ 15,213 $ 18,002 Less: accumulated amortization (530 ) (2,370 ) $ 14,683 $ 15,632 The balance of intangible assets mainly represents software related to CHEERS App, primarily consisting e-mall, online game, video media library and data warehouse modules, etc., acquired externally tailored to the Company's requirements and is amortized straight-line over 7 years in accordance with the way the Company estimates to generate economic benefits from such software. For the years ended December 31, 2019 and 2020, amortization expense amounted to $532 and $2,754, respectively. The following is a schedule, by fiscal years, of amortization amount of intangible asset as of December 31, 2020: 2021 $ 2,456 2022 2,569 2023 2,569 2024 2,569 Thereafter 5,469 Total $ 15,632

Accrued Liabilities and Other P

Accrued Liabilities and Other Payables	12 Months Ended
	Dec. 31, 2020
Payables and Accruals [Abstract]
ACCRUED LIABILITIES AND OTHER PAYABLES	7. ACCRUED LIABILITIES AND OTHER PAYABLES As of December 31, 2019, and 2020, accrued liabilities and other payables consisted of the following: December 31, December 31, Borrowing from former shareholder (1) $ 2,155 $ 1,226 Payable to merchants of Cheers e-Mall (2) - 7,373 Co-invest online series production fund 472 793 Payroll payables 1,262 1,525 Other payables 2,245 374 $ 6,134 $ 11,291 (1) Borrowing from former shareholder represented the loan from Lead Eastern Investment Co., Ltd, who was the related party of the Company until October 26, 2018. (2) Payable to merchants of Cheers e-Mall related to cash received on behalf of the merchants in advance, for which the related transactions have not been completed.

Other Taxes Payable

Other Taxes Payable	12 Months Ended
	Dec. 31, 2020
Payables and Accruals [Abstract]
OTHER TAXES PAYABLE	8. OTHER TAXES PAYABLE As of December 31, 2019, and 2020, other taxes payable consisted of the following: December 31, December 31, VAT payable $ 1,839 $ 5,377 Income tax payable (30 ) 1,930 Business tax payable 60 561 Others 21 26 $ 1,890 $ 7,894

Bank Loans

Bank Loans	12 Months Ended
	Dec. 31, 2020
Bank Loans [Abstract]
BANK LOANS	9. BANK LOANS Bank loans represent the amounts due to various banks that are due within and over one year. As of December 31, 2019, and 2020, bank loans consisted of the following: December 31, December 31, Short-term bank loans: Loan from Bank of Beijing (1) $ 718 $ 452 Loan from China Merchants Bank (2) - 3,023 Loan from Huaxia Bank (3) - 152 Loan from Xiamen International Bank (4) - 1,533 718 5,160 Long-term bank loan: Loan from Huaxia Bank (3) - 1,374 $ 718 $ 6,534 (1) On December 18, 2019, Glory Star Beijing entered into a loan agreement with Bank of Beijing to borrow $718 as working capital for one year, with maturity date of December 18, 2020. The loan bears a fixed interest rate of 5.22% per annum. The loan is guaranteed by Beijing Haidian Sci-tech Enterprises Financing Guarantee Co., Ltd, for whom a counter-guarantee was provided by Horgos and Mr. Zhang Bing, the Chairman of the Company’s board of directors. The Company repaid the full amount in December 2020. On December 9, 2020, Glory Star Beijing entered into a loan agreement with Bank of Beijing to borrow $460 as working capital for one year, with maturity date of December 9, 2021. The loan bears a fixed interest rate of 4.76% per annum. The Company incurred guarantee fee in the amount of $8 for the loan of which the unamortized balance was $8 as of December 31, 2020. Loan issuance costs are presented on the consolidated balance sheets as a direct deduction from the carrying amount of the loan and amortized to interest expense using the effective interest rate of 6.57% as of December 31, 2020. The loan is guaranteed by Beijing Haidian Sci-tech Enterprises Financing Guarantee Co., Ltd, for whom a counter-guarantee was provided by Horgos and Mr. Zhang Bing, the Chairman of the Company’s board of directors. (2) In December 2019, Glory Star Beijing entered into a two-year credit facility agreement of maximum $1,533 with China Merchants Bank. On January 6, 2020, Glory Star Beijing made a withdraw of $1,533, which will be due on January 5, 2021.The loan bears a fixed interest rate of 4.785%. The Company incurred guarantee fee in the amount of $35 for the loan. Loan issuance costs are presented on the consolidated balance sheets as a direct deduction from the carrying amount of the loan and amortized to interest expense using the effective interest rate of 7.23%. The loan was fully repaid on December 30, 2020. The same amount of loan was reissued on the same date with a fixed interest rate of 4.45%. The loan will be due on December 29, 2021. The Company incurred guarantee fee in the amount of $35 for the loan of which the unamortized balance was $35 as of December 31, 2020. Loan issuance costs are presented on the consolidated balance sheets as a direct deduction from the carrying amount of the loan and amortized to interest expense using the effective interest rate of 6.89% as of December 31, 2020. In March 2020, Glory Star Beijing entered into another two-year credit facility agreement of maximum $1,533 with China Merchants Bank. On March 27, 2020, Glory Star Beijing made a withdraw of $1,533, which will be due on March 26, 2021. The loan bears a fixed interest rate of 4.3%. The Company incurred guarantee fee in the amount of $35 for the loan of which the unamortized balance was $8 as of December 31, 2020. Loan issuance costs are presented on the consolidated balance sheets as a direct deduction from the carrying amount of the loan and amortized to interest expense using the effective interest rate of 6.73% as of December 31, 2020. The above loans are guaranteed by Beijing Zhongguancun Sci-tech Financing Guarantee Co., Ltd, for whom a counter guarantee was provided by Horgos, Mr. Zhang Bing, the Chairman of the Company’s board of directors, and Mr. Lu Jia, the Vice President of the Company. (3) In March, 2020, Glory Star Beijing entered into a two-year credit facility agreement of maximum $1,533 with Huaxia Bank. On March 23, 2020, Glory Star Beijing made a withdrawal of $1,533, $153 of which will be due on March 21, 2021 and the remaining of $1,380 will be due on March 23, 2022. The loan bears a fixed interest rate of 6.09% per annum. The Company incurred guarantee fee in the amount of $3 and $26 for the loan’s short-term portion and long-term portion of which the unamortized balance was $1 and $6 as of December 31, 2020, respectively. Loan issuance costs are presented on the consolidated balance sheets as a direct deduction from the carrying amount of the loan and amortized to interest expense using the effective interest rate of 8.13% as of December 31, 2020. The loan is guaranteed by Beijing Haidian Sci-tech Enterprises Financing Guarantee Co., Ltd. Horgos provided counter-guarantee to Beijing Haidian Sci-tech Enterprises Financing Guarantee Co., Ltd with accounts receivable from Beijing iQYI Technology Co., Ltd. pledged as collateral and Mr. Zhang Bing, the Chairman of the Company’s board of directors, provided the additional guarantee. (4) On September 29, 2020, Leshare Beijing entered into a two-year credit facility agreement of maximum $1,073 and an one-year credit facility agreement of maximum $460 with Xiamen International Bank, respectively. On September 30, 2020, Leshare Beijing withdrew $1,073 and $460, respectively, both with maturity date of March 29, 2021. These loans bear fixed interest rate of 6.0% and 5.5% respectively. These loans are guaranteed by Horgos, and Mr. Zhang Bing, the Chairman of the Company’s board of directors The weighted average interest rate for bank loans was approximately 5.65% and 7.19% for the years ended December 31, 2019 and 2020, respectively. For the years ended December 31, 2019 and 2020, interest expense related to bank loans amounted to $270 and $332 respectively.

Leases

Leases	12 Months Ended
	Dec. 31, 2020
Leases [Abstract]
LEASES	10. LEASES The Company leases offices space under non-cancelable operating leases, with terms ranging from one to five years. The Company considers those renewal or termination options that are reasonably certain to be exercised in the determination of the lease term and initial measurement of right of use assets and lease liabilities. Lease expense for lease payment is recognized on a straight-line basis over the lease term. Leases with initial term of 12 months or less are not recorded on the balance sheet. The Company determines whether a contract is or contains a lease at inception of the contract and whether that lease meets the classification criteria of a finance or operating lease. When available, the Company uses the rate implicit in the lease to discount lease payments to present value; however, most of the Company's leases do not provide a readily determinable implicit rate. Therefore, the Company discount lease payments based on an estimate of its incremental borrowing rate. The Company's lease agreements do not contain any material residual value guarantees or material restrictive covenants. Supplemental balance sheet information related to operating lease was as follows: December 31, December 31, Right-of-use assets $ 2,027 $ 1,689 Operating lease liabilities - current $ 313 $ 385 Operating lease liabilities - non-current 1,718 1,386 Total operating lease liabilities $ 2,031 $ 1,771 The weighted average remaining lease terms and discount rates for the operating lease were as follows as of December 31, 2020: Remaining lease term and discount rate: Weighted average remaining lease term (years) 4.10 Weighted average discount rate 5.55 % For the years ended December 31, 2019 and 2020, the Company incurred total operating lease expenses of $488 and $533, respectively. The following is a schedule, by fiscal years, of maturities of lease liabilities as of December 31, 2020: 2021 $ 468 2022 468 2023 514 2024 514 2025 - Total lease payments 1,964 Less: imputed interest 193 Present value of lease liabilities $ 1,771

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2020
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	11. RELATED PARTY TRANSACTIONS Amounts due to Related Parties As of December 31, 2019, and 2020, amounts due to related parties consisted of the following: December 31, December 31, Mr. Zhang Bing (1) $ 726 $ - Mr. Lu Jia (2) 799 - Mr.Wang jian (3) - 230 TKK Symphony Sponsor 1 - 500 $ 1,525 $ 730 (1) Chairman of the Company's board of directors and CEO of the Company (2) Board member and vice president of the Company. (3) Legal representative, Director, and General Manager of Glary Prosperity The balances of $1,525 and $730 as of December 31, 2019 and 2020, respectively, were borrowed from related parties for the Company's working capital needs. The balances are short-term in nature, non-interest bearing, unsecured and repayable on demand. Convertible promissory note – related party On September 6, 2019, GS Holdings issued the Sponsor an unsecured promissory note in a principal amount of up to $1,100 (the "Sponsor Note") for working capital loans made or to be made by the Sponsor, pursuant to which $350 of previously provided advances were converted into loans under the Sponsor Note. The Note bore no interest and was due on the earlier of (i) the consummation of a Business Combination or (ii) the liquidation of GS Holdings. Up to $1,000 of the loans under the Sponsor Note could be converted into warrants, each warrant entitling the holders to receive one half of one ordinary share, at $0.50 per warrant. In September and October 2019, GS Holdings received an additional $750 under the Sponsor Note, bringing the total outstanding balance due under the Sponsor Note as of December 31, 2019 to an aggregate of $1,100. On February 14, 2020, GS Holdings entered into an amended and restated promissory note with the Sponsor (the "Amended Sponsor Note") to extend the maturity date from the closing of the Business Combination to a date that is one year from the closing of the Business Combination. In addition, under the Amended Sponsor Note, TKK granted the Sponsor the right to convert the current outstanding balance of $1,400 under the Amended Sponsor Note to GS Holdings' ordinary shares at the conversion price equal to the volume-weighted average price of GS Holdings' ordinary shares on Nasdaq or such other securities exchange or securities market on which GS Holdings' ordinary shares are then listed or quoted, for the ten trading days prior to such conversion date; provided, however, the conversion price shall not be less than $5.00. On February 14, 2021, which is the maturity date of the Amended Sponsor Note, the Amended Sponsor Note automatically converted into 280,000 of GS Holdings' ordinary shares at a conversion price of $5.00 per share.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
INCOME TAXES	12. INCOME TAXES Cayman Islands GS Holdings and Glory Star are incorporated in the Cayman Islands. Under the current laws of the Cayman Islands, GS Holdings and Glory Star are not subject to income or capital gains taxes. In addition, dividend payments are not subject to withholdings tax in the Cayman Islands. Hong Kong On March 21, 2018, the Hong Kong Legislative Council passed The Inland Revenue (Amendment) (No. 7) Bill 2017 (the “Bill”) which introduces the two-tiered profits tax rates regime. The Bill was signed into law on March 28, 2018 and was gazette on the following day. Under the two-tiered profits tax rates regime, the first 2 million Hong Kong Dollar (“HKD”) of profits of the qualifying group entity will be taxed at 8.25%, and profits above HKD2 million will be taxed at 16.5%. PRC WFOE, Horgos, Glory Star Beijing, Beijing Leshare, Horgos Glory Prosperity, Shenzhen Leshare, Horgos Glary Wisdom, Beijing Glory Wisdom, Horgos Technology and Xing Cui Can were incorporated in the PRC and are subject to PRC Enterprise Income Tax (“EIT”) on the taxable income in accordance with the relevant PRC income tax laws. On March 16, 2007, the National People’s Congress enacted a new enterprise income tax law, which took effect on January 1, 2008. The law applies a uniform 25% enterprise income tax rate to both foreign invested enterprises and domestic enterprises. For the years ended December 31, 2019 and 2020, Beijing Glary Wisdom was recognized as small low-profit enterprise and received a preferential income tax rate of 10%. Beijing Leshare was recognized as a high-tech enterprise and received a preferential income tax rate of 15%. Horgos, Horgos Glory Prosperity, Horgos Glary Wisdom are subject to a preferential income tax rate of 0% for a period from 2017 to 2020, and Horgos Technology is eligible to be exempted from income tax from 2020 to 2024, as they are all incorporated in the Horgos Economic District, Xinjiang province. The reconciliations of the statutory income tax rate and the Company’s effective income tax rate are as follows: For the Years Ended 2019 2020 (Restated) Net income before provision for income taxes $ 26,594 $ 50,632 PRC statutory tax rate 25 % 25 % Income tax at statutory tax rate 6,649 12,658 Expenses not deductible for tax purpose 350 297 Changes in valuation allowance - 6 Effect of warrant liability revaluation - (4,928 ) Effect of preferential tax rates granted to the PRC entities (a) (6,808 ) (6,360 ) Income tax expense $ 191 $ 1,673 Effective income tax rate 0.72 % 3.30 % (a) The Company’s subsidiary Horgos, Horgos Glory Prosperity and Horgos Technology are subject to a favorable tax rate of 0%. Beijing Leshare was recognized as a high-tech enterprise and received a preferential income tax rate of 15%. For the years ended December 31, 2019 and 2020, the tax saving as the result of the favorable tax rate amounted to $6,808 and $6,360, respectively, and per share effect of the favorable tax rate were $0.17 and $0.12. The current PRC EIT Law imposes a 10% withholding income tax for dividends distributed by foreign invested enterprises to their immediate holding companies outside the PRC. A lower withholding tax rate will be applied if there is a tax treaty arrangement between the PRC and the jurisdiction of the foreign holding company. Distributions to holding companies in Hong Kong that satisfy certain requirements specified by the PRC tax authorities, for example, will be subject to a 5% withholding tax rate. As of December 31, 2019, and 2020, the Company had not recorded any withholding tax on the retained earnings of its foreign invested enterprises in the PRC, since the Company intends to reinvest its earnings to further expand its business in mainland China, and its foreign invested enterprises do not intend to declare dividends to their immediate foreign holding companies. The tax effect of temporary difference under ASC 740 “Accounting for Income Taxes” that give rise to deferred tax asset as of December 31, 2019 and 2020 was as follows: December 31, December 31, Deferred tax assets: Allowance for doubtful accounts $ 16 $ 133 Net operating loss carry forwards 517 627 Total deferred tax assets, net $ 533 $ 760 The provisions of ASC 740-10-25, “Accounting for Uncertainty in Income Taxes,” prescribe a more-likely-than-not threshold for consolidated financial statement recognition and measurement of a tax position taken (or expected to be taken) in a tax return. This interpretation also provides guidance on the recognition of income tax assets and liabilities, classification of current and deferred income tax assets and liabilities, accounting for interest and penalties associated with tax positions, and related disclosures. The Company does not believe that there was any uncertain tax position as of December 31, 2019 and 2020.

Share-Based Compensation to Emp

Share-Based Compensation to Employees	12 Months Ended
	Dec. 31, 2020
Retirement Benefits [Abstract]
SHARE-BASED COMPENSATION TO EMPLOYEES	13. SHARE-BASED COMPENSATION TO EMPLOYEES On February 14, 2020, the board of directors of the Company approved 2019 Equity Incentive Plan (“2019 Plan”), which allows for the award of stock and options, up to 3,732,590 ordinary shares to its employees, directors and consultants. The per share exercise price for the ordinary shares to be issued pursuant to exercise of an option will be no less than 100% or 110% of the fair market value per ordinary share on the date of grant. On March 13, 2020, three independent directors of the Company entered into the independent director agreements and restricted stock award agreements (“Award Agreement”) with the Company. Pursuant to the Award Agreement, during the term of service as a director of the Company, each independent director of the Company shall be entitled to a fee of $2 per month ($24 per year) and 2,000 ordinary shares of the Company per year of service. On March 13, 2020, the Company granted each independent director 2,000 shares pursuant to the Award Agreement under the Company’s 2019 Plan. All of the Shares vests upon the date of grant. On May 29, 2020, the Company granted executive officers and key employees 1,585,000 shares pursuant to the Award Agreement under the Company’s 2019 Plan. 50% shares vest immediately on the date of grant, and 50% shares vest on the date that is 90 days from the date of grant, subject to each person’s continued employment. All of the shares vest as of December 31, 2020 except for 24,000 shares cancelled due to two employees’ resignation from the Company. On September 15, 2020, the Company entered into an independent director agreement with Mr. Ke Chen (“Chen Agreement”). Under the Chen Agreement, Mr. Chen will receive annual compensation in the amount of $2 per month ($24 per year), plus reimbursement of expenses, and 2,000 ordinary shares of the Company per year of service. On September 14, 2020, the Company granted Mr. Chen 2,000 Shares pursuant to the terms of the restricted stock award agreement under the Company’s 2019 Equity Incentive Plan. 100% of the Shares shall fully vest on September 14, 2021. A summary of the restricted ordinary shares activities for the year ended December 31, 2020 is presented below. There were no such activities for the year ended December 31, 2019. Number of Weighted average grant date fair value US$ December 31, 2019 - - Granted 1,593,000 3.43 Forfeited or canceled (24,000 ) 3.23 Vested 1,567,000 3.43 December 31, 2020 2,000 3.01 The total fair value of shares vested during the year ended December 31, 2020 was $5,379. Compensation expense recognized for restricted ordinary shares for the year ended December 31, 2020 was allocated to the following expense items: For the Year Ended 2020 Cost of revenues $ 448 Selling and marketing 355 General and administrative 4,578 $ 5,381 As of December 31, 2020, $4 of total unrecognized compensation expense related to restricted ordinary shares is expected to be recognized over a weighted average period of approximately 0.7 year.

Equity

Equity	12 Months Ended
	Dec. 31, 2020
Equity [Abstract]
EQUITY	14. EQUITY (Restated) Preferred Shares The Company is authorized to issue 2,000,000 preferred shares with a par value of $0.0001 per share with such designation, rights and preferences as may be determined from time to time by the Company's Board of Directors. At December 31, 2019 and 2020, there were no preferred shares issued or outstanding. Ordinary Shares The Company is authorized to issue 200,000,000 ordinary shares with a par value of $0.0001 per share. Holders of the ordinary shares are entitled to one vote for each share. The Company engaged EarlyBirdCapital as an advisor (the "Original Marketing Agreement") in connection with a Business Combination to assist the Company in locating target businesses, holding meetings with its shareholders to discuss a potential Business Combination and the target business' attributes, introduce the Company to potential investors that are interested in purchasing securities, assist the Company in obtaining shareholder approval for the Business Combination and assist the Company with its press releases and public filings in connection with a Business Combination. The Company agreed to pay EarlyBirdCapital a cash fee equal to $8,750 for such services upon the consummation of a Business Combination (exclusive of any applicable finders' fees which might become payable). The Company also agreed to pay EarlyBirdCapital a cash fee equal to 1.0% of the transaction value if EarlyBirdCapital located the target business with which the Company consummated a Business Combination. In connection with the Business Combination, on February 14, 2020, the Company entered into a Business Combination Marketing Agreement Fee Amendment (the "Fee Amendment") with EarlyBirdCapital whereby EarlyBirdCapital agreed to amend the Original Marketing Agreement. Under the Fee Amendment, EarlyBirdCapital agreed to reduce its fee of $8,750 due under the Original Agreement and forgo reimbursement of expenses in exchange for a convertible promissory note in the amount of $4,000 without interest ("EBC Note"). The EBC Note is for a period of one year and is convertible, at EarlyBirdCapital's option, into the Company's ordinary shares at the conversion price equal to the volume-weighted average price of the Company's ordinary shares on Nasdaq or such other securities exchange or securities market on which the Company's ordinary shares are then listed or quoted, for the ten trading days prior to such conversion date; provided, however, the conversion price shall not be less than $5.00 (the "Floor Price"). On March 26, 2020, the EBC Note was converted into the 800,000 of Company's ordinary shares. The Company entered into a contract for marketing promotion services with Shenzhen Quandu Advertising Co. Ltd. (hereinafter referred to as "Quandu Advertising") to expand the advertising market in South China to strive for more market share. Quandu Advertising is a company dedicated in expansion of advertising business. It has long been committed to the southern regions of China, including Shenzhen, Guangdong, Fujian, Hunan and Hubei provinces, and has very extensive resources and established long-term cooperative relations with consumer, telecommunication and medical enterprises. The service term is valid for 12 months, from March 2020 to March 2021. According to the contract, the Company compensated Quandu Advertising for its services hereunder by issuing 125,000 shares valued at US$2.45 per share on March 13, 2020. Since listing on NASDAQ, the Company is striving to expand new areas of business growth and seek cooperation and merger and acquisition of assets. For this purpose, the Company and Shenzhen Yijincheng Business Consulting Co., Ltd. (hereinafter referred to as "Yijincheng") entered into an agreement to assist in acquiring media and content assets and seeking partners. Yijincheng is a company focusing on conducting business consulting and providing merger and acquisition services for listed companies. The service term is valid for 9 months, from March 2020 to December 2020. According to the contract, the Company compensated Yijincheng for its services hereunder by issuing 200,000 shares of the company's ordinary shares valued at US$2.45 per share on March 13, 2020. Following the completion of the 2019 fiscal year, and in accordance with the terms of the Share Exchange Agreement, the Company determined that the 2019 earn out target were met and the Sellers are entitled to the 2019 Earn out Shares. On April 22, 2020, the Company issued an additional 5,000,000 of the Company's ordinary shares as the 2019 Earn out Shares to the Sellers pursuant to the terms of the Shares Exchange Agreement. On May 13,2020, the Company entered into a Consulting and Media Amplification Agreement with Consortium Management, LLC (hereinafter referred to as "Consortium") , pursuant to which the Company agreed to pay up to$300 in cash and issue 112,500 ordinary shares of the Company for the performance of certain services by Consortium for the Company. Consortium has received $180 in cash and the full 112,500 Shares for services rendered pursuant to the Consulting Agreement. The Company issued to Consortium another 20,000 ordinary shares on October 16, 2020 for settlement payment. On September 15,2020, the Company entered into a Consultation Agreement with Fortune Path Limited, a British Virgin Islands registered company and issued 100,000 ordinary shares to Xingxian Li, the person designated by Fortune Path Limited , pursuant to the terms and conditions of the Consultation Agreement. The 100,000 ordinary shares of the Company to be issued to the designated Holder of Fortune Path Limited under the Consultation Agreement, valued at $3.12, the closing price of the Company's ordinary shares on September 15, 2020. In October 2020, the Company entered into a subscription agreement with Hong Kong Duoku Limited ("Duoku"), pursuant to which the Company will issue 193,986 of ordinary shares at $10.31 per share to Duoku. On November 17, 2020, the Company has completed such issuance of 193,986 ordinary shares at a purchase price of $10.31 per share. At December 31, 2019 and 2020, there were 41,204,025 and 57,886,352 ordinary shares issued and outstanding, respectively. Public Warrants Pursuant to the Initial Public Offering, TKK sold 25,000,000 Units at a purchase price of $10.00 per Unit, inclusive of 3,000,000 Units sold to the underwriters on August 22, 2018 upon the underwriters' election to partially exercise their over-allotment option. Each Unit consists of one ordinary share, one warrant ("Public Warrant") and one right ("Public Right"). Each Public Warrant entitles the holder to purchase one-half of one ordinary share at an exercise price of $11.50 per whole share. Each Public Right entitles the holder to receive one-tenth of one ordinary share at the closing of a Business Combination. Public Warrants may only be exercised for a whole number of shares. No fractional ordinary shares will be issued upon exercise of the Public Warrants. The Public Warrants will become exercisable on the later of (a) the completion of a Business Combination and (b) 12 months from the closing of the Initial Public Offering. No Public Warrants will be exercisable for cash unless the Company has an effective and current registration statement covering the ordinary shares issuable upon exercise of the Public Warrants and a current prospectus relating to such ordinary shares. Notwithstanding the foregoing, if a registration statement covering the ordinary shares issuable upon the exercise of the Public Warrants is not effective within 90 days from the consummation of a Business Combination, the holders may, until such time as there is an effective registration statement and during any period when the Company shall have failed to maintain an effective registration statement, exercise the Public Warrants on a cashless basis pursuant to an available exemption from registration under the Securities Act. If an exemption from registration is not available, holders will not be able to exercise their Public Warrants on a cashless basis. The Public Warrants will expire five years from the consummation of a Business Combination or earlier upon redemption or liquidation. The Company may redeem the Public Warrants: ● in whole and not in part; ● at a price of $0.01 per warrant; ● at any time while the Public Warrants are exercisable; ● upon no less than 30 days' prior written notice of redemption to each Public Warrant holder; ● if, and only if, the reported last sale price of the Company's ordinary shares equals or exceeds $18.00 per share, for any 20 trading days within a 30 trading day period ending on the third business day prior to the notice of redemption to the warrant holders; and ● if, and only if, there is a current registration statement in effect with respect to the ordinary shares underlying such warrants at the time of redemption and for the entire 30-day trading period referred to above and continuing each day thereafter until the date of redemption. If the Company calls the Public Warrants for redemption, management will have the option to require all holders that wish to exercise the Public Warrants to do so on a "cashless basis," as described in the warrant agreement. The exercise price and number of ordinary shares issuable upon exercise of the warrants may be adjusted in certain circumstances including in the event of a capitalization of shares, extraordinary dividend or recapitalization, reorganization, merger or consolidation. However, the warrants will not be adjusted for issuances of ordinary shares at a price below their exercise price or issuance of potential extension warrants in connection with an extension of the period of time for the Company to complete a Business Combination. Additionally, in no event will the Company be required to net cash settle the warrants. If the Company is unable to complete a Business Combination within the Combination Period and the Company liquidates the funds held in the Trust Account, holders of warrants will not receive any of such funds with respect to their warrants, nor will they receive any distribution from the Company's assets held outside of the Trust Account with the respect to such warrants. Accordingly, the warrants may expire worthless. As of December 31, 2020, the Company had 25,000,000 of public warrants outstanding. Rights Each holder of a Public Right will automatically receive one-tenth (1/10) of an ordinary share upon consummation of a Business Combination, even if the holder of a Public Right converted all ordinary shares held by him, her or it in connection with a Business Combination or an amendment to the Company's Amended and Restated Memorandum and Articles of Association with respect to its pre-business combination activities. Upon the closing of the Business Combination, the Company issued 2,504,330 shares in connection with an exchange of Public Rights. Statutory reserve Horgos, Beijing Glory Star, Beijing Leshare, Shenzhen Leshare, Horgos Glary Wisdom, Beijing Glary Wisdom, Glary Prosperity, Horgos Technology and Xing Cui Can operate in the PRC, are required to reserve 10% of their net profit after income tax, as determined in accordance with the PRC accounting rules and regulations. Appropriation to the statutory reserve by the Company is based on profit arrived at under PRC accounting standards for business enterprises for each year. The profit arrived at must be set off against any accumulated losses sustained by the Company in prior years, before allocation is made to the statutory reserve. Appropriation to the statutory reserve must be made before distribution of dividends to shareholders. The appropriation is required until the statutory reserve reaches 50% of the registered capital. This statutory reserve is not distributable in the form of cash dividends. Non-controlling interest As of December 31, 2020, the Company's non-controlling interest represented 49% equity interest of Horgos Glary Wisdom and 49% equity interest of Glary Prosperity respectively.

Private Placement Warrants (Res

Private Placement Warrants (Restated)	12 Months Ended
	Dec. 31, 2020
Private Placement Warrants (Restated) [Abstract]
PRIVATE PLACEMENT WARRANTS (Restated)	15. PRIVATE PLACEMENT WARRANTS (Restated) Simultaneously with the closing of the Initial Public Offering, Symphony Holdings Limited ("Symphony") purchased an aggregate of 11,800,000 Private Placement Warrants at $0.50 per Private Placement Warrant for an aggregate purchase price of $5,900. On August 22, 2018, TKK consummated the sale of an additional 1,200,000 Private Placement Warrants at a price of $0.50 per Private Placement Warrant, generating gross proceeds of $600. Each Private Placement Warrant is exercisable to purchase one-half of one ordinary share at an exercise price of $11.50 per whole share. The Private Placement Warrants are identical to the Public Warrants underlying the Units sold in the Initial Public Offering, except that the Private Placement Warrants (i) are not redeemable by the Company and (ii) may be exercised for cash or on a cashless basis, so long as they are held by the initial purchaser or any of its permitted transferees. If the Private Placement Warrants are held by holders other than the initial purchasers or any of their permitted transferees, the Private Placement Warrants will be redeemable by the Company and exercisable by the holders on the same basis as the Public Warrants. In addition, the Private Placement Warrants may not be transferable, assignable or salable until the consummation of a Business Combination, subject to certain limited exceptions. As of December 31, 2020, the Company had 13,000,000 of private placement warrants outstanding. The warrant liability related to such private placement warrants was remeasured to its fair value at each reporting period. The change in fair value was recognized in the consolidated statements of operations. The change in fair value of the warrant liability was as follows: Warrant (Restated) Estimated fair value at December 31, 2019 $ - Warrant liability assumed from the Business Combination 20,547 Change in estimated fair value (19,714 ) Estimated fair value at December 31, 2020 $ 833 The fair value of the private warrants was estimated using the binomial option valuation model. The application of the binomial option valuation model requires the use of a number of inputs and significant assumptions including volatility. Significant judgment is required in determining the expected volatility of the common share. Due to the limited history of trading of the Company's common share, the Company determined expected volatility based on a peer group of publicly traded companies. The following reflects the inputs and assumptions used: For the February 14, Stock price $ 2.75 $ 10.00 Exercise price $ 11.50 $ 11.50 Risk-free interest rate 0.28 % 1.42 % Expected term (in years) 4.12 5.00 Expected dividend yield - - Expected volatility 45.5 % 39.2 %

Segment Information

Segment Information	12 Months Ended
	Dec. 31, 2020
Segment Reporting [Abstract]
SEGMENT INFORMATION	15. SEGMENT INFORMATION In accordance with ASC 280, Segment Reporting, operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker ("CODM"), or decision making group, in deciding how to allocate resources and in assessing performance. The Company uses the "management approach" in determining reportable operating segments. The management approach considers the internal organization and reporting used by the Company's chief operating decision maker for making operating decisions and assessing performance as the source for determining the Company's reportable segments. Management, including the chief operating decision maker, reviews operation results by the revenue of different services. Based on management's assessment, the Company has determined that it has two operating segments as defined by ASC 280, including Cheers APP internet business and traditional media businesses. Cheers APP Internet Business generates advertising revenue from broadcasting IP short video, live streaming and APP advertising through Cheer APP and service revenue from Cheers E-mall marketplace. Traditional Media Business mainly contributes the advertising revenue from Cheers TV-series, copyright revenue, customized content production revenue and others. The CODM measures the performance of each segment based on metrics of revenues and earnings from operations and uses these results to evaluate the performance of, and to allocate resources to, each of the segments. The Company currently does not allocate assets and share-based compensation for employees to its segments, as the CODM does not use such information to allocate resources to or evaluate the performance of the operating segments. As most of the Company's long-lived assets are located in the PRC and most of the Company's revenues are derived from the PRC, no geographical information is presented. The table below provides a summary of the Company's operating segment results for the years ended December 31, 2019 and 2020. For the Years Ended 2019 2020 Net revenues: Cheers App Internet Business $ 28,301 $ 83,573 Traditional Media Business 37,476 40,190 Total consolidated net revenues $ 65,777 $ 123,763 Operating income: Cheers APP Internet Business $ 11,548 $ 24,343 Traditional Media Business 15,291 11,707 Total segment operating income 26,839 36,050 Unallocated item (1) - (5,381 ) Total consolidated operating income $ 26,839 $ 30,669 (1) The unallocated item for the year ended December 31, 2020 presents the share-based compensation for employees, which is not allocated to segments.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2020
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	17. SUBSEQUENT EVENTS On February 5, 2021, the Company sold the 51% ownership of Horgos Glary Wisdom Marketing Planning Co., Ltd (“Wisdom”) held by Horgos Glory Star Media Co., Ltd (“Horgos”) to Mr. Feng Zhao, who held 49% ownership of Wisdom. Upon the consummation of the sale of Wisdom, Horgos ceased to hold shares in Wisdom and Wisdom was no longer a majority controlled subsidiary of Horgos. The disposal of Wisdom has no major effect on the Company’s operations and financial results. On February 22, 2021, the Company entered into an underwriting agreement (the “Underwriting Agreement”) with Univest Securities, LLC (“Univest”), as the representative of the several underwriters named therein (collectively, the “Underwriters”), pursuant to which the Company agreed to issue and sell (i) 3,810,976 ordinary shares of the Company (“Offered Shares”), par value of $0.0001 per share (the “Ordinary Shares”) and (ii) warrants (the “Warrants”) to purchase an aggregate of 3,810,976 Ordinary Shares (the “Warrant Shares”) in an underwritten public offering (the “Offering”). In addition, the Company has granted the Underwriters a 45-day option (the “Over-Allotment Option”) to purchase up to an additional 571,646 Ordinary Shares (the “Option Shares”) and Warrants to purchase up to 571,646 Ordinary Shares at the public offering price, less underwriting discounts and commissions. The Offered Shares and Warrants are delivered on February 24, 2021, at a public offering price of $3.28 per share and associated warrant to purchase one ordinary share, as set forth in the Underwriting Agreement, subject to the satisfaction of certain closing conditions. The exercise price of each Warrant is $4.10 per share, and each Warrant is exercisable immediately after the date of issuance and will expire five years from the date of issuance. The exercise price and the number of Warrant Shares issuable upon exercise of the Warrants are subject to adjustment upon the occurrence of specified events, including stock dividends, stock splits, combinations and reclassifications of the Ordinary Shares, as described in the Warrant. In addition, the Company agreed to issue Univest or its designees warrants (the “Underwriter Warrants”) to purchase up to an aggregate of 190,549 Ordinary Shares (219,131 Ordinary Shares if the Over-Allotment Option is exercised in full), which represents 5.0% of the Offered Shares sold, or if the Over-Allotment Option is exercised in full, the Offered Shares and Option Shares sold, in the Offering. The Underwriter Warrants have an exercise price equal to $4.10, which is the same exercise price of the Warrants sold in the Offering, and are immediately exercisable for five years from the commencement of sales. The Underwriter Warrants have substantially similar terms to the Warrants issued in the Offering. On March 4, 2021, Leshare Beijing repaid the $1,533 of short term bank loan to Xiamen International Bank and borrowed two new bank loans with aggregated amount of $1,533 from Xiamen International Bank for working capital needs, $460 of which bears a fix interest rate of 5.5% with due date on September 28, 2021 and $1,073 of which bears a fixed interest rate of 6.0% with maturity date on September 3, 2021. On March 22, 2021, Glory Star Beijing repaid the $1,533 of short term bank loan to China Merchants Bank and borrowed a new bank loan of $1,533 from China Merchants Bank for working capital needs, which bears a fixed interest rate of 4.5% with maturity date on March 21, 2022. On March 25, 2021, the underwriters fully exercised and closed on their over-allotment option to purchase an additional 571,646 ordinary shares of the Company, together with warrants to purchase up to 571,646 ordinary shares of the Company in connection with the Company’s underwritten public offering on February 24, 2021. The additional ordinary shares and warrants were sold at the public offering price of $3.28 per ordinary share and associated warrant. After deducting underwriting discounts, the additional net proceeds of the sale of the ordinary shares and warrants from the over-allotment option were approximately $1,744.

Quarterly Financial Data (Unaud

Quarterly Financial Data (Unaudited) (Restated)	12 Months Ended
	Dec. 31, 2020
Quarterly Financial Information Disclosure [Abstract]
QUARTERLY FINANCIAL DATA (UNAUDITED) (Restated)	18. QUARTERLY FINANCIAL DATA (UNAUDITED) (Restated) The following tables sets forth the unaudited consolidated statements of operations for the three months ended March 31, 2019 and 2020. For the Three Months Ended 2019 2020 Restated Revenues $ 13,753 $ 9,757 Operating expenses: Cost of revenues (8,212 ) (4,991 ) Selling and marketing (259 ) (379 ) General and administrative (639 ) (1,287 ) Research and development (197 ) (206 ) Total operating expenses (9,307 ) (6,863 ) Income from operations 4,446 2,894 Other (expenses) income: Interest expense, net (135 ) (87 ) Change in fair value of private warrant liability - 18,117 Other (expenses) income, net (5 ) 30 Total other expenses (140 ) 18,060 Income before income tax 4,306 20,954 Income tax (expense) benefit (172 ) 5 Net income 4,134 20,959 Less: net loss attributable to non-controlling interests (9 ) (59 ) Net income attributable to Glory Star New Media Group Holdings Limited's shareholders $ 4,143 $ 21,018 Other comprehensive income (loss) Unrealized foreign currency translation gain (loss) 577 (1,087 ) Comprehensive income 4,711 19,872 Less: comprehensive loss attributable to non-controlling interests - (67 ) Comprehensive income attributable to Glory Star New Media Group Holdings Limited's shareholders $ 4,711 $ 19,939 Earnings per ordinary share Basic $ 0.10 $ 0.46 Weighted average shares used in calculating earnings per ordinary share Basic 41,204,025 45,504,828 Earnings per ordinary share Dilutive $ 0.09 $ 0.41 Weighted average shares used in calculating earnings per ordinary share Dilutive 46,484,025 50,784,828 The following tables sets forth the unaudited consolidated statements of operations for the three and six months ended June 30, 2019 and 2020. For the Three Months Ended For the Six Months Ended 2019 2020 2019 2020 Restated Restated Revenues (a) $ 18,494 $ 19,651 $ 32,246 $ 29,408 Operating expenses: Cost of revenues (10,080 ) (5,392 ) (18,292 ) (10,383 ) Selling and marketing (456 ) (1,775 ) (716 ) (2,153 ) General and administrative (1,147 ) (3,783 ) (1,786 ) (5,070 ) Research and development (251 ) (130 ) (448 ) (336 ) Total operating expenses (11,934 ) (11,080 ) (21,242 ) (17,942 ) Income from operations 6,560 8,571 11,004 11,466 Other (expenses) income: Interest expense, net (82 ) (82 ) (218 ) (169 ) Change in fair value of private warrant liability - 95 - 18,213 Other (expenses) income, net (3 ) 92 (8 ) 123 Total other expenses (85 ) 105 (226 ) 18,167 Income before income tax 6,475 8,676 10,778 29,633 Income tax (expense) benefit 64 459 (107 ) 464 Net income 6,539 9,135 10,671 30,097 Less: net loss attributable to non-controlling interests (65 ) (36 ) (74 ) (94 ) Net income attributable to Glory Star New Media Group Holdings Limited's shareholders $ 6,604 $ 9,171 $ 10,745 $ 30,191 Other comprehensive income (loss) Unrealized foreign currency translation gain (loss) (765 ) 108 (188 ) (979 ) Comprehensive income 5,774 9,243 10,483 29,118 Less: comprehensive loss attributable to non-controlling interests (70 ) (35 ) (69 ) (102 ) Comprehensive income attributable to Glory Star New Media Group Holdings Limited's shareholders $ 5,844 $ 9,278 $ 10,552 $ 29,220 Earnings per ordinary share Basic $ 0.16 $ 0.17 $ 0.26 $ 0.60 Weighted average shares used in calculating earnings per ordinary share Basic 41,204,025 54,749,415 41,204,025 50,127,122 Earnings per ordinary share Dilutive $ 0.14 $ 0.16 $ 0.23 $ 0.59 Weighted average shares used in calculating earnings per ordinary share Dilutive 46,484,025 56,074,415 46,484,025 51,452,122 Restatement of Quarterly Consolidated Financial Statements In lieu of filing amended Quarterly Report on Form 10-Q for the three months ended March 31, 2020 and Interim Report on Form 6-K for the three and six months ended June 30, 2020, the following tables represent the Company's restated consolidated financial statements (unaudited) for each of the restated periods. Impacted Financial Statement Line Items For the Three Months Ended As previously Restatement As Restated Change in fair value of warrant liability $ - $ 18,117 $ 18,117 Total other (expenses) income (57 ) 18,117 18,060 Income before income tax 2,837 18,117 20,954 Net income 2,842 18,117 20,959 Net income attributable to Glory Star New Media Group Holdings Limited's shareholders 2,901 18,117 21,018 Comprehensive income 1,755 18,117 19,872 Comprehensive income attributable to Glory Star New Media Group Holdings Limited's shareholders 1,822 18,117 19,939 Earnings per ordinary share Basic 0.06 0.40 0.46 Dilutive 0.06 0.35 0.41 For the Three Months Ended As previously Restatement As Restated Change in fair value of warrant liability $ - $ 95 $ 95 Total other (expenses) income 10 95 105 Income before income tax 8,581 95 8,676 Net income 9,040 95 9,135 Net income attributable to Glory Star New Media Group Holdings Limited's shareholders 9,076 95 9,171 Comprehensive income 9,148 95 9,243 Comprehensive income attributable to Glory Star New Media Group Holdings Limited's shareholders 9,183 95 9,278 Earnings per ordinary share Basic 0.17 - 0.17 Dilutive 0.16 - 0.16 For the Six Months Ended As previously Restatement As Restated Change in fair value of warrant liability $ - $ 18,213 $ 18,213 Total other expenses (46 ) 18,213 18,167 Income before income tax 11,420 18,213 29,633 Net income 11,884 18,213 30,097 Net income attributable to Glory Star New Media Group Holdings Limited's shareholders 11,978 18,213 30,191 Comprehensive income 10,905 18,213 29,118 Comprehensive income attributable to Glory Star New Media Group Holdings Limited's shareholders 11,007 18,213 29,220 Earnings per ordinary share Basic 0.24 0.36 0.60 Dilutive 0.23 0.36 0.59 Consolidated Balance Sheet As of March 31, 2020 As previously reported Restatement Impacts As Restated Assets Current assets: Cash and cash equivalents $ 9,961 $ - $ 9,961 Accounts receivable, net 55,003 - 55,003 Prepayment and other current assets 2,554 - 2,554 Total current assets 67,518 - 67,518 Property and equipment, net 269 - 269 Intangible assets, net 14,051 - 14,051 Deferred tax assets 596 - 596 Unamortized produced content, net 1,342 - 1,342 Right-of-use assets 1,907 - 1,907 Total non-current assets 18,165 - 18,165 TOTAL ASSETS $ 85,683 $ - $ 85,683 Liabilities and Equity Current liabilities: Short-term bank loans $ 3,672 $ - $ 3,672 Accounts payable 5,095 - 5,095 Advances from customers 498 - 498 Accrued liabilities and other payables 5,569 - 5,569 Other taxes payable 2,148 - 2,148 Operating lease liabilities -current 333 - 333 Due to related parties 1,999 - 1,999 Convertible promissory note - related party 1,400 - 1,400 Total current liabilities 20,714 - 20,714 Long-term bank loan 1,271 - 1,271 Operating lease liabilities - non-current 1,488 - 1,488 Warrant liability - 2,429 2,429 Total non-current liabilities 2,759 2,429 5,188 TOTAL LIABILITIES $ 23,473 $ 2,429 $ 25,902 Commitments and contingences Shareholders' equity Preferred shares (par value of $0.0001 per share; 2,000,000 authorized; none issued and outstanding) $ - $ - $ - Ordinary shares (par value of $0.0001 per share; 200,000,000 shares authorized as of December 31, 2019 and March 31, 2020; 41,204,025 and 50,898,866 shares issued and outstanding as of December 31, 2019 and March 31, 2020, respectively) 5 - 5 Additional paid-in capital 11,573 (11,498 ) 75 Statutory reserve 431 - 431 Retained earnings 52,448 9,069 61,517 Accumulated other comprehensive loss (2,655 ) - (2,655 ) TOTAL GLORY STAR NEW MEDIA GROUP HOLDINGS LIMITED SHAREHOLDERS' EQUITY 61,802 (2,429 ) 59,373 Non-controlling interest 408 - 408 TOTAL EQUITY 62,210 (2,429 ) 59,781 TOTAL LIABILITIES AND EQUITY $ 85,683 $ - $ 85,683 Consolidated Balance Sheet As of June 30, 2020 As previously reported Restatement Impacts As Restated Assets Current assets: Cash and cash equivalents $ 9,056 $ - $ 9,056 Accounts receivable, net 59,327 - 59,327 Prepayment and other current assets 10,203 - 10,203 Total current assets 78,586 - 78,586 Property and equipment, net 241 - 241 Intangible assets, net 14,683 - 14,683 Deferred tax assets 987 - 987 Unamortized produced content, net 2,175 - 2,175 Right-of-use assets 1,596 - 1,596 Total non-current assets 19,682 - 19,682 TOTAL ASSETS $ 98,268 $ - $ 98,268 Liabilities and Equity Current liabilities: Short-term bank loans $ 3,680 $ - $ 3,680 Accounts payable 6,731 - 6,731 Advances from customers 530 - 530 Accrued liabilities and other payables 5,579 - 5,579 Other taxes payable 2,103 - 2,103 Operating lease liabilities -current 296 - 296 Due to related parties 1,201 - 1,201 Convertible promissory note - related party 1,400 - 1,400 Total current liabilities 21,520 - 21,520 Long-term bank loan 1,274 - 1,274 Warrant liability - 2,333 2,333 Operating lease liabilities - non-current 1,322 - 1,322 Total non-current liabilities 2,596 2,333 4,929 TOTAL LIABILITIES $ 24,116 $ 2,333 $ 26,449 Commitments and contingences Shareholders' equity Preferred shares (par value of $0.0001 per share; 2,000,000 authorized; none issued and outstanding) $ - $ - $ - Ordinary shares (par value of $0.0001 per share; 200,000,000 shares authorized as of December 31, 2019 and June 30, 2020; 41,204,025 and 56,011,366 shares issued and outstanding as of December 31, 2019 and June 30, 2020, respectively) 6 - 6 Additional paid-in capital 14,365 (11,498 ) 2,867 Statutory reserve 431 - 431 Retained earnings 61,525 9,165 70,690 Accumulated other comprehensive loss (2,548 ) - (2,548 ) TOTAL GLORY STAR NEW MEDIA GROUP HOLDINGS LIMITED SHAREHOLDERS' EQUITY 73,779 (2,333 ) 71,446 Non-controlling interest 373 - 373 TOTAL EQUITY 74,152 (2,333 ) 71,819 - TOTAL LIABILITIES AND EQUITY $ 98,268 $ - $ 98,268 Consolidated Statements of Operations and comprehensive income/(loss) For the Three Months Ended As previously Restatement As Restated Revenues $ 9,757 $ - $ 9,757 Operating expenses: Cost of revenues (4,991 ) - (4,991 ) Selling and marketing (379 ) - (379 ) General and administrative (1,287 ) - (1,287 ) Research and development (206 ) - (206 ) Total operating expenses (6,863 ) - (6,863 ) Income from operations 2,894 - 2,894 Other (expenses) income: Interest expense, net (87 ) - (87 ) Change in fair value of warrant liability - 18,117 18,117 Other (expenses) income, net 30 - 30 Total other (expenses) income (57 ) 18,117 18,060 Income before income tax 2,837 18,117 20,954 Income tax (expense) benefit 5 - 5 Net income 2,842 18,117 20,959 Less: net loss attributable to non-controlling interests (59 ) - (59 ) Net income attributable to Glory Star New Media Group Holdings Limited's shareholders $ 2,901 $ 18,117 $ 21,018 Other comprehensive income (loss) Unrealized foreign currency translation gain (loss) (1,087 ) - (1,087 ) Comprehensive income 1,755 18,117 19,872 Less: comprehensive loss attributable to non-controlling interests (67 ) - (67 ) Comprehensive income attributable to Glory Star New Media Group Holdings Limited's shareholders $ 1,822 $ 18,117 $ 19,939 Earnings per ordinary share Basic $ 0.06 $ 0.40 $ 0.46 Weighted average shares used in calculating earnings per ordinary share Basic 45,504,828 - 45,504,828 Earnings per ordinary share Dilutive $ 0.06 $ 0.35 $ 0.41 Weighted average shares used in calculating earnings per ordinary share Dilutive 50,784,828 - 50,784,828 Consolidated Statements of Operations and comprehensive income/(loss) For the Three Months Ended As previously Restatement As Restated Revenues $ 19,651 $ - $ 19,651 Operating expenses: Cost of revenues (5.392 ) - (5.392 ) Selling and marketing (1,775 ) - (1,775 ) General and administrative (3,783 ) - (3,783 ) Research and development (130 ) - (130 ) Total operating expenses (11,080 ) - (11,080 ) Income from operations Other (expenses) income: Interest expense, net (82 ) - (82 ) Change in fair value of warrant liability - 95 95 Other (expenses) income, net 92 - 92 Total other (expenses) income 10 95 105 Income before income tax 8,581 95 8,676 Income tax (expense) benefit 459 - 459 Net income 9,040 95 9,135 Less: net loss attributable to non-controlling interests (36 ) - (36 ) Net income attributable to Glory Star New Media Group Holdings Limited's shareholders $ 9,076 $ 95 $ 9,171 Other comprehensive income (loss) Unrealized foreign currency translation gain (loss) 108 - 108 Comprehensive income Less: comprehensive loss attributable to non-controlling interests (35 ) - (35 ) Comprehensive income attributable to Glory Star New Media Group Holdings Limited's shareholders $ 9,183 $ 95 $ 9,278 Earnings per ordinary share Basic $ 0.17 $ - $ 0.17 Weighted average shares used in calculating earnings per ordinary share Basic 54,749,415 - 54,749,415 Earnings per ordinary share Dilutive $ 0.16 $ - $ 0.16 Weighted average shares used in calculating earnings per ordinary share Dilutive 56,074,415 - 56,074,415 Consolidated Statements of Operations and comprehensive income/(loss) For the Six Months Ended As previously Restatement As Restated Revenues (a) $ 29,408 $ - $ 29,408 Operating expenses: Cost of revenues (10,383 ) - (10,383 ) Selling and marketing (2,153 ) - (2,153 ) General and administrative (5,070 ) - (5,070 ) Research and development (336 ) - (336 ) Total operating expenses (17,942 ) - (17,942 ) Income from operations 11,466 - 11,466 Other (expenses) income: Interest expense, net (169 ) - (169 ) Change in fair value of warrant liability - 18,213 18,213 Other (expenses) income, net 123 - 123 Total other expenses (46 ) 18,213 18,167 - Income before income tax 11,420 18,213 29,633 Income tax (expense) benefit 464 - 464 Net income 11,884 18,213 30,097 Less: net loss attributable to non-controlling interests (94 ) - (94 ) Net income attributable to Glory Star New Media Group Holdings Limited's shareholders $ 11,978 $ 18,213 $ 30,191 Other comprehensive income (loss) Unrealized foreign currency translation gain (loss) (979 ) - (979 ) Comprehensive income 10,905 18,213 29,118 Less: comprehensive loss attributable to non-controlling interests (102 ) - (102 ) Comprehensive income attributable to Glory Star New Media Group Holdings Limited's shareholders $ 11,007 $ 18,213 $ 29,220 Earnings per ordinary share Basic $ 0.24 $ 0.36 $ 0.60 Weighted average shares used in calculating earnings per ordinary share Basic 50,127,122 - 50,127,122 Earnings per ordinary share Dilutive $ 0.23 $ 0.36 $ 0.59 Weighted average shares used in calculating earnings per ordinary share Dilutive 51,452,122 - 51,452,122 Consolidated Statement of Cash Flows For the Three Months Ended As previously reported Restatement Impacts As Restated CASH FLOWS FROM OPERATING ACTIVITIES: Net income $ 2,841 $ 18,117 $ 20,958 Adjustments to reconcile net income to net cash provided by (used in) operating activities: (Reversal of allowance) allowance for doubtful accounts 381 - 381 Depreciation and amortization 448 - 448 Amortization of right-of-use assets 87 - 87 Deferred income tax expense (benefit) (73 ) - (73 ) Share base compensation 75 - 75 Change in fair value of warrant liability - (18,117 ) (18,117 ) Changes in assets and liabilities Accounts receivable (5,253 ) - (5,253 ) Prepayment and other current assets (49 ) - (49 ) Unamortized produced content 291 - 291 Accounts payable 591 - 591 Advances from customers (104 ) - (104 ) Accrued liabilities and other payables (469 ) - (469 ) Other taxes payable 295 - 295 Operating lease liabilities (179 ) - (179 ) Net cash provided by (used in) operating activities (1,118 ) - (1,118 ) CASH FLOWS FROM INVESTING ACTIVITIES: Purchase of property and equipment - - - Prepayments for acquisition of intangible assets - - - Net cash used in investing activities - - - CASH FLOWS FROM FINANCING ACTIVITIES: Proceeds from bank loans 4,299 - 4,299 Repayments of bank loans - - - Proceeds from a third party - - - Cash acquired from the acquisition of TKK 23 - 23 Net cash (used in) provided by financing activities 4,322 - 4,322 Effect of exchange rate changes (162 ) - (162 ) Net (decrease) increase in cash, cash equivalents and restricted cash 3,042 - 3,042 Cash, cash equivalents and restricted cash, at beginning of period 6,919 - 6,919 Cash, cash equivalents and restricted cash, at end of period $ 9,961 $ - $ 9,961 SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION: Interests paid $ 24 $ - $ 24 Right of use assets obtained in exchange for operating lease obligations $ - $ - $ - Condensed Consolidated Statement of Cash Flows For the Six Months Ended As previously reported Restatement Impacts As Restated Net cash provided by (used in) operating activities $ (1,006 ) $ - $ (1,006 ) Net cash provided by (used in) investing activities (994 ) - (994 ) Net cash (used in) provided by financing activities 4,322 - 4,322 Effect of exchange rate changes $ (185 ) $ - $ (185 ) Net (decrease) increase in cash, cash equivalents and restricted cash 2,137 - 2,137 Cash, cash equivalents and restricted cash, at beginning of period 6,919 - 6,919 Cash, cash equivalents and restricted cash, at end of period $ 9,056 $ - $ 9,056

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Basis of presentation	(a) Basis of presentation The accompanying consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP"). The consolidated financial statements include the financial statements of the Company, its subsidiaries, its VIEs and its VIEs' subsidiaries. All inter-company transactions and balances have been eliminated upon consolidation.
Use of estimates	(b) Use of estimates The preparation of financial statements in conformity with U.S. GAAP requires to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period and accompanying notes, including allowance for doubtful accounts, allowance for unamortized production content, the useful lives of property and equipment and intangible assets, impairment of long-lived assets, valuation allowance for deferred tax assets and revenue recognition. Actual results could differ from those estimates.
Fair value Measurement	(c) Fair value Measurement The Company applies ASC Topic 820, Fair Value Measurements and Disclosures which defines fair value, establishes a framework for measuring fair value and expands financial statement disclosure requirements for fair value measurements. ASC Topic 820 defines fair value as the price that would be received from the sale of an asset or paid to transfer a liability (an exit price) on the measurement date in an orderly transaction between market participants in the principal or most advantageous market for the asset or liability. ASC Topic 820 specifies a hierarchy of valuation techniques, which is based on whether the inputs into the valuation technique are observable or unobservable. The hierarchy is as follows: Level 1 inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets. Level 2 inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the assets or liability, either directly or indirectly, for substantially the full term of the financial instruments. Level 3 inputs to the valuation methodology are unobservable and significant to the fair value. Unobservable inputs are valuation technique inputs that reflect the Company's own assumptions about the assumptions that market participants would use in pricing an asset or liability. Management of the Company is responsible for considering the carrying amount of cash and cash equivalents, short-term investments, accounts receivable, prepayment and other current assets, short-term bank loans, accounts payable, advances from customers, accrued liabilities and other payables and other taxes payable based on the short-term maturity of these instruments to approximate their fair values because of their short-term nature.
Cash and cash equivalents	(d) Cash and cash equivalents Cash consists of cash on hand and cash in banks. The Company maintains cash with various financial institutions in China. As of December 31, 2019 and 2020, cash balances are $6,919 and $17,731, respectively, which are uninsured. The Company has not experienced any losses in bank accounts and believes it is not exposed to any risks on its cash in bank accounts.
Short-term investment	(e) Short-term investment Short-term investment represents the investment in structural deposits in a financial institution in the PRC which are redeemable at the option of the Company on any working day. The Company accounts for all highly liquid investments with original maturities of greater than three months, but less than 12 months as short-term investments. Interest income are included in earnings.
Accounts Receivable, net	(f) Accounts Receivable, net Accounts receivable represent the amounts that the Company has an unconditional right to consideration (including billed and unbilled amount) when the Company has satisfied its performance obligation. The Company does not have any contract assets since revenue is recognized when control of the promised services is transferred and the payment from customers is not contingent on a future event. The Company maintains allowance for potential credit losses on accounts receivable. Management reviews the composition of accounts receivable and analyses historical bad debt, customer concentrations, customer credit worthiness, current economic trends and changes in customer payment patterns to estimate the allowance. Past due accounts are generally written off against the allowance for bad debts only after all collection attempts have been exhausted and the potential for recovery is considered remote.
Unamortized produced content	(g) Unamortized produced content Produced content includes direct production costs, production overhead and acquisition costs and is stated at the lower of unamortized cost or estimated fair value. Produced content also includes cash expenditures made to enter into arrangements with third parties to co-produce certain of its productions. The Company uses the individual-film-forecast-computation method and amortizes the produced content based on the ratio of current period actual revenue (numerator) to estimated remaining unrecognized ultimate revenue as of the beginning of the fiscal year (denominator) in accordance with ASC 926. Ultimate revenue estimates for the produced content are periodically reviewed and adjustments, if any, will result in prospective changes to amortization rates. When estimates of total revenues and other events or changes in circumstances indicate that a film or television series has a fair value that is less than its unamortized cost, a loss is recognized currently for the amount by which the unamortized cost exceeds the film or television series' fair value. For the years ended December 31, 2019 and 2020, $17,199 and $15,970 were amortized to the cost of sales, respectively, and as of December 31, 2019 and 2020, no impairment allowance was recorded.
Property and equipment, net	(h) Property and equipment, net Property and equipment are stated at cost less accumulated depreciation and depreciated on a straight-line basis over the estimated useful lives of the assets. Cost represents the purchase price of the asset and other costs incurred to bring the asset into its existing use. The cost of repairs and maintenance is expensed as incurred; major replacements and improvements are capitalized. When assets are retired or disposed of, the cost and accumulated depreciation are removed from the accounts, and any resulting gains or losses are included in income/loss in the year of disposition. Estimated useful lives are as follows: Estimated Useful Life Electric equipment 3 Years Office equipment and furniture 3 - 5 Years Leasehold improvement Shorter of useful life or lease term (i) Intangible asset, net Intangible asset is stated at cost less accumulated amortization and amortized in a method which reflects the pattern in which the economic benefits of the intangible asset are expected to be consumed or otherwise used up. The balance of intangible asset represents software related to CHEERS App, a mobile application that allows its users to access its online store (e-Mall), video content, live streaming, and online games. The software is acquired externally tailored to the Company's requirements and is amortized straight-line over 7 years in accordance with the way the Company estimates to generate economic benefits from such software.
Impairment of long-lived Assets	(j) Impairment of long-lived Assets In accordance with ASC Topic 360, the Company reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be fully recoverable, or at least annually. The Company recognizes an impairment loss when the sum of expected undiscounted future cash flows is less than the carrying amount of the asset. The amount of impairment is measured as the difference between the asset's estimated fair value and its book value. The Company did not record any impairment charge for the years ended December 31, 2019 and 2020.
Leases	(k) Leases In February 2016, the Financial Accounting Standards Board (the "FASB") issued ASU 2016-02, Leases (Topic 842), which is effective for annual reporting periods (including interim periods) beginning after December 15, 2018, and early adoption is permitted. The Company has adopted the Topic 842 on January 1, 2019 using a modified retrospective approach reflecting the application of the standard to leases existing at, or entered into after, the beginning of the earliest comparative period presented in the consolidated financial statements. The Company leases its offices, which are classified as operating leases in accordance with Topic 842. Under Topic 842, lessees are required to recognize the following for all leases (with the exception of short-term leases) on the commencement date: (i) lease liability, which is a lessee's obligation to make lease payments arising from a lease, measured on a discounted basis; and (ii) right-of-use asset, which is an asset that represents the lessee's right to use, or control the use of, a specified asset for the lease term. At the commencement date, the Company recognizes the lease liability at the present value of the lease payments not yet paid, discounted using the interest rate implicit in the lease or, if that rate cannot be readily determined, the Company's incremental borrowing rate for the same term as the underlying lease. The right-of-use asset is recognized initially at cost, which primarily comprises the initial amount of the lease liability, plus any initial direct costs incurred, consisting mainly of brokerage commissions, less any lease incentives received. All right-of-use assets are reviewed for impairment. No impairment for right-of-use lease assets as of December 31, 2019 and 2020. The Company's lease agreements do not contain any material residual value guarantees or material restrictive covenants.
Advances from customers	(l) Advances from customers Advances from customers amounted to $610 and $609 at December 31, 2019 and 2020, respectively, which represent advance payment received from our customers for goods or services that had not yet been provided. The Company will recognize the advances as revenue when it has transferred control of the goods or services to which the advances relate, and has no obligation under the contract to transfer additional goods or services.
Value Added Tax	(m) Value Added Tax Horgos and its China subsidiaries are subject to VAT for providing services and sales of products. The amount of VAT liability is determined by applying the applicable tax rates to the invoiced amount of services provided and sales of products (output VAT) less VAT paid on purchases made with the relevant supporting invoices (input VAT). The Company reports revenue net of PRC's VAT for all the periods presented in the consolidated statements of operations.
Revenue Recognition	(n) Revenue Recognition The Company early adopted the new revenue standard Accounting Standards Codification ("ASC") 606, Revenue from Contracts with Customers, on January 1, 2017. The core principle of this new revenue standard is that a company should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. The following five steps are applied to achieve that core principle: ● Step 1: Identify the contract with the customer ● Step 2: Identify the performance obligations in the contract ● Step 3: Determine the transaction price ● Step 4: Allocate the transaction price to the performance obligations in the contract ● Step 5: Recognize revenue when the company satisfies a performance obligation The Company mainly offers and generates revenue from the copyright licensing of self-produced content, advertising and customized content production and others. Revenue recognition policies are discussed as follows: Copyright revenue The Company self produces or coproduces TV series featuring lifestyle, culture and fashion, and licenses the copyright of the TV series on an episode basis to the customer for broadcast over a period of time. Generally, the Company signs a contract with a customer which requires the Company to deliver a series of episodes that are substantially the same and that have the same pattern of transfer to the customer. Accordingly, the delivery of the series of episodes is defined as the only performance obligation in the contract. For the TV series produced solely by the Company, the Company satisfies its performance obligation over time by measuring the progress toward the delivery of the entire series of episodes which is made available to the licensee for exhibition after the license period has begun. Therefore, the copyright revenue in a contract is recognized over time based on the progress of the number of episodes delivered. The Company also coproduces TV series with other producers and licenses the copyright to third-party video broadcast platforms for broadcast. For TV series produced by Glory Star Group with co-producers, the Company satisfies its performance obligations over time by the delivery of the entire series of episodes to the customer, and requires the customer to pay consideration based on the number and the unit price of valid subsequent views of the TV series that occur on a broadcast platform. Therefore, the copyright revenue is recognized when the later of the valid subsequent view occurs or the performance obligation relating to the delivery of a number of episodes has been satisfied. Advertising revenue The Company generates revenue from sales of various forms of advertising on its TV series and streaming content by way of 1) advertisement displays, or 2) the integration of promotion activities in TV series and content to be broadcast. Advertising contracts are signed to establish the different contract prices for different advertising scenarios, consistent with the advertising period. The Company enters into advertising contracts directly with the advertisers or the third-party advertising agencies that represent advertisers. For the contracts that involve the third-party advertising agencies, the Company is principal as the Company is responsible for fulfilling the promise of providing advertising services and has the discretion in establishing the price for the specified advertisement. Under a framework contract, the Company receives separate purchase orders from advertising agencies before the broadcast. Accordingly, each purchase order is identified as a separate performance obligation, containing a bundle of advertisements that are substantially the same and that have the same pattern of transfer to the customer. Where collectability is reasonably assured, revenue is recognized monthly over the service period of the purchase order. For contracts signed directly with the advertisers, the Company commits to display a series of advertisements which are substantially the same or similar in content and transfer pattern, and the display of the whole series of advertisements is identified as the single performance obligation under the contract. The Company satisfies its performance obligations over time by measuring the progress toward the display of the whole series of advertisements in a contract, and advertising revenue is recognized over time based on the number of advertisements displayed. Payment terms and conditions vary by contract types, and terms typically include a requirement for payment within a period from 6 to 9 months. Both direct advertisers and third-party advertising agencies are generally billed at the end of the display period and require the Company to issue VAT invoices in order to make their payments. Customized content production revenue The Company produces customized short streaming videos according to its customers' requirement, and earns fixed fees based on delivery. Revenue is recognized upon the delivery of short streaming videos. CHEERS E-mall marketplace service revenue The Company through CHEERS E-mall, an online e-commerce platform, enables third-party merchants to sell their products to consumers in China. The Company charges fees for platform services to merchants for sales transactions completed on the Cheer E-Mall including but not limited to products displaying, promotion and transaction settlement services. The Company does not take control of the products provided by the merchants at any point in the time during the transactions and does not have latitude over pricing of the merchandise. Transaction services fee is determined as the difference between the platform sales price and the settlement price with the merchants. CHEERS E-mall marketplace service revenue is recognized at a point of time when the Company's performance obligation to provide marketplace services to the merchants are determined to have been completed under each sales transaction upon the consumers confirming the receipts of goods. Payments for services are generally received before deliveries. The Company provides coupons to consumers at our own discretion as incentives to promote CHEERS E-mall marketplace with validity usually around or less than one week, which can only be used in future purchases of eligible merchandise offered on CHEERS E-mall to reduce purchase price that are not specific to any merchant. Consumers are not customers of the Company, therefore incentives offered to consumers are not considered consideration payable to customers. As the consumers are required to make future purchases of the merchants' merchandise to redeem these coupons, the Company does not accrue any expense for coupons when granted and recognizes the amounts of redeemed coupons as marketing expenses when future purchases are made. Other Revenues Other revenue primarily consists of copyrights trading of purchased and produced TV-series and the sales of products on Taobao platform. For copyright licensing of purchased and produced TV-series, the Company recognize revenue on net basis at a point of time upon the delivery of master tape and authorization of broadcasting right. For sales of product, the company recognize revenue upon the transfer of products according to the fixed price and production amount in sales orders. The following table identifies the disaggregation of our revenue for the years ended December 31, 2019 and 2020, respectively: For the Years Ended 2019 2020 Category of Revenue: Advertising revenue $ 48,391 $ 104,664 Customized content production revenue 9,098 10,200 Copyrights revenue 7,369 6,883 CHEERS e-Mall marketplace service revenue 670 1,517 Other revenue 249 499 Total $ 65,777 $ 123,763 Timing of Revenue Recognition: Services transferred over time $ 64,858 $ 121,747 Services transferred at a point in time 670 1,517 Goods transferred at a point in time 249 499 Total $ 65,777 $ 123,763 The Company applied a practical expedient to expense costs as incurred for costs to obtain a contract with a customer when the amortization period would have been one year or less. The Company does not have any significant incremental costs of obtaining contracts with customers incurred and/or costs incurred in fulfilling contracts with customers within the scope of ASC Topic 606, that shall be recognized as an asset and amortized to expenses in a pattern that matches the timing of the revenue recognition of the related contract.
Cost of revenues	(o) Cost of revenues Cost of revenues consists primarily of production cost of TV series, short stream video and live streaming, labour cost and related benefits, payments to various channel owners for broadcast, purchase cost of goods and copyrights and costs associated with the operation of the Company's online game and shopping platform CHERRS App such as bandwidth cost and amortization of intangible assets.
Share-based compensation	(p) Share-based compensation The Company periodically grants restricted ordinary shares to eligible employees and non-employee consultants. The Group accounts for share-based awards issued to employees and non-employee consultants in accordance with ASC Topic 718 Compensation – Stock Compensation. The share-based awards are measured at the grant date fair value of the awards and recognized as expenses a) immediately at grant date if no vesting conditions are required; or b) using the straight line method over the requisite service period, which is the vesting period. Share-based compensation in relation to the restricted ordinary shares is measured based on the fair value of its ordinary shares on the date of the grant. The Group recognizes the compensation cost, net of estimated forfeitures, over a vesting term for service-based restricted shares. Forfeitures are estimated at the time of grant and revised in the subsequent periods if actual forfeitures differ from those estimates.
Income Taxes	(q) Income Taxes The Company accounts for income taxes using the asset/liability method prescribed by ASC 740, "Income Taxes." Under this method, deferred tax assets and liabilities are determined based on the difference between the financial reporting and tax bases of assets and liabilities using enacted tax rates that will be in effect in the period in which the differences are expected to reverse. The Company records a valuation allowance to offset deferred tax assets if, based on the weight of available evidence, it is more-likely-than-not that some portion, or all, of the deferred tax assets will not be realized. The effect on deferred taxes of a change in tax rates is recognized as income or loss in the period that includes the enactment date. The provisions of ASC 740-10-25, "Accounting for Uncertainty in Income Taxes," prescribe a more-likely-than not threshold for consolidated financial statement recognition and measurement of a tax position taken (or expected to be taken) in a tax return. This interpretation also provides guidance on the recognition of income tax assets and liabilities, classification of current and deferred income tax assets and liabilities, accounting for interest and penalties associated with tax positions, and related disclosures. The Company does not believe that there was any uncertain tax position at December 31, 2019 and 2020. The Company's operating subsidiaries in PRC are subject to examination by the relevant tax authorities. According to the PRC Tax Administration and Collection Law, the statute of limitations is three years if the underpayment of taxes is due to computational errors made by the taxpayer or the withholding agent. The statute of limitations is extended to five years under special circumstances, where the underpayment of taxes is more than RMB 100,000 ($14,364). In the case of transfer pricing issues, the statute of limitation is ten years. There is no statute of limitation in the case of tax evasion. As of December 31, 2020, the tax years ended December 31, 2017 through December 31, 2020 for the Company's PRC subsidiaries remain open for statutory examination by PRC tax authorities.
Non-controlling Interest	(r) Non-controlling Interest A non-controlling interest in a subsidiary of the Company represents the portion of the equity (net assets) in the subsidiary not directly or indirectly attributable to the Company. Non-controlling interests are presented as a separate component of equity on the Consolidated Balance Sheet and net income and other comprehensive income are attributed to controlling and non-controlling interests.
Earnings per Share	(s) Earnings per Share The Company computes earnings per share ("EPS") in accordance with ASC 260, "Earnings per Share" ("ASC 260"). ASC 260 requires companies with complex capital structures to present basic and diluted EPS. Basic EPS is measured as net income/(loss) attributable to ordinary shareholders divided by the weighted average common shares outstanding for the period. Diluted EPS is similar to basic EPS but presents the dilutive effect on a per share basis of potential common shares (e.g., convertible securities, earn out shares, warrants and stock options) as if they had been converted at the beginning of the periods presented, or issuance date, if later. Potential common shares that have an anti-dilutive effect (i.e., those that increase income per share or decrease loss per share) are excluded from the calculation of diluted EPS. There is no anti-dilutive effect for the years ended December 31, 2019 and 2020.
Related Parties	(t) Related Parties Parties are considered to be related to the Company if the parties, directly or indirectly, through one or more intermediaries, control, are controlled by, or are under common control with the Company. Related parties also include principal owners of the Company, its management, members of the immediate families of principal owners of the Company and its management and other parties with which the Company may deal with if one party controls or can significantly influence the management or operating policies of the other to an extent that one of the transacting parties might be prevented from fully pursuing its own separate interests. The Company discloses all significant related party transactions in Note 11.
Concentration and Credit Risk	(u) Concentration and Credit Risk Substantially all of the Company's operating activities are transacted into RMB, which is not freely convertible into foreign currencies. All foreign exchange transactions take place either through the People's Bank of China or other banks authorized to buy and sell foreign currencies at the exchange rates quoted by the People's Bank of China. Approval of foreign currency payments by the People's Bank of China or other regulatory institutions require submitting a payment application form together with suppliers' invoices, shipping documents and signed contracts. The Company maintains certain bank accounts in the PRC, Hong Kong and Cayman, which are not insured by Federal Deposit Insurance Corporation ("FDIC") insurance or other insurance. As of December 31, 2019 and 2020, $6,919 and $17,730 of the Company's cash were on deposit at financial institutions in the PRC where there currently is no rule or regulation requiring such financial institutions to maintain insurance to cover bank deposits in the event of bank failure. Accounts receivable are typically unsecured and derived from revenue earned from customers, thereby exposed to credit risk. The risk is mitigated by the Company's assessment of its customers' creditworthiness and its ongoing monitoring of outstanding balances. The Company's sales are made to customers that are located primarily in China. The Company has a concentration of its revenues and receivables with specific customers. For the years ended December 31, 2019 and 2020, a major customer accounted for 15% and 14% of the Company's total revenue, respectively. The top five customers accounted for 79% of net accounts receivable as of December 31, 2019, with each customer representing 21%, 18%, 17%, 11% and 12% of the net accounts receivable balance, respectively. As of December 31, 2020, the top five customers accounted for 70% of net accounts receivable, with each customer representing 18%, 14%, 13%, 13% and 12% of the net accounts receivable balance. For the years ended December 31, 2019 and 2020, one major supplier accounted for 41% and 37% of accounts payable, respectively.
Foreign Currency Translation	(v) Foreign Currency Translation The reporting currency of the Company is the U.S. dollar ("USD"). The functional currency of subsidiaries, VIEs and VIEs' subsidiaries located in China is the Chinese Renminbi ("RMB"). For the entities whose functional currency is the RMB, result of operations and cash flows are translated at average exchange rates during the period, assets and liabilities are translated at the unified exchange rate at the end of the period, and equity is translated at historical exchange rates. As a result, amounts relating to assets and liabilities reported on the statements of cash flows may not necessarily agree with the changes in the corresponding balances on the balance sheets. Translation adjustments resulting from the process of translating the local currency financial statements into U.S. dollars are included in determining comprehensive income/loss. Transactions denominated in foreign currencies are translated into the functional currency at the exchange rates prevailing on the transaction dates. Assets and liabilities denominated in foreign currencies are translated into the functional currency at the exchange rates prevailing at the balance sheet date with any transaction gains and losses that arise from exchange rate fluctuations on transactions denominated in a currency other than the functional currency are included in the results of operations as incurred. All of the Company's revenue and expense transactions are transacted in the functional currency of the operating subsidiaries. The Company does not enter into any material transaction in foreign currencies. Transaction gains or losses have not had, and are not expected to have, a material effect on the results of operations of the Company. The consolidated balance sheet amounts, with the exception of equity, at December 31, 2019 and 2020 were translated at RMB 6.9618 to $1.00 and at RMB 6.5250 to $1.00, respectively. Equity accounts were stated at their historical rates. The average translation rates applied to consolidated statements of operations and cash flows for the years ended December 31, 2019 and 2020 were RMB 6.9081 to $1.00 and RMB 6.9042 to $1.00, respectively.
Recent Accounting Pronouncements	(w) Recent Accounting Pronouncements In June 2016, the FASB issued ASU No. 2016-13, "Measurement of Credit Losses on Financial Instruments (Topic 326)", which significantly changes the way entities recognize impairment of many financial assets by requiring immediate recognition of estimated credit losses expected to occur over their remaining life, instead of when incurred. In November 2018, the FASB issued ASU No. 2018-19, "Codification Improvements to Topic 326, Financial Instruments—Credit Losses", which amends Subtopic 326-20 (created by ASU No.2016-13) to explicitly state that operating lease receivables are not in the scope of Subtopic 326-20. Additionally, in April 2019, the FASB issued ASU No.2019-04, "Codification Improvements to Topic 326, Financial Instruments—Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments", in May 2019, the FASB issued ASU No. 2019-05, "Financial Instruments—Credit Losses (Topic 326): Targeted Transition Relief", and in November 2019, the FASB issued ASU No. 2019-10, "Financial Instruments—Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842): Effective Dates", and ASU No. 2019-11, "Codification Improvements to Topic 326, Financial Instruments—Credit Losses", to provide further clarifications on certain aspects of ASU No. 2016-13 and to extend the nonpublic entity effective date of ASU No. 2016-13. The changes (as amended) are effective for the Company for annual and interim periods in fiscal years beginning after December 15, 2022, and the Company is in the process of evaluating the potential effect on its consolidated financial statements. In December 2019, the FASB issued ASU No. 2019-12, "Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes" ("ASU 2019-12"), which is intended to simplify various aspects related to accounting for income taxes. ASU 2019-12 removes certain exceptions to the general principles in Topic 740 and also clarifies and amends existing guidance to improve consistent application. This guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020, with early adoption permitted. The Company is currently assessing the impact of adopting this standard, but based on a preliminary assessment, does not expect the adoption of this guidance to have a material impact on its consolidated financial statements. Other accounting standards that have been issued or proposed by FASB that do not require adoption until a future date are not expected to have a material impact on the consolidated financial statements upon adoption. The Company does not discuss recent pronouncements that are not anticipated to have an impact on or are unrelated to its consolidated financial condition, results of operations, cash flows or disclosures.

Restatement of Consolidated F_2

Restatement of Consolidated Financial Statements (Tables)	12 Months Ended
	Dec. 31, 2020
Restatement of Consolidated Financial Statements [Abstract]
Schedule of impact of adjustments to company’s consolidated financial statements	CONSOLIDATED BALANCE SHEETS As of December 31, 2020 As previously reported Restatement Impacts As Restated Liabilities and Equity Warrant liability $ - $ 833 $ 833 Total non-current liabilities 2,760 833 3,593 Total liabilities 38,116 833 38,949 Additional paid-in capital 20,657 (11,498 ) 9,159 Retained earnings 78,606 10,665 89,271 Total equity 105,280 (833 ) 104,447 Total liabilities and equity 143,396 - 143,396 CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME/(LOSS) For the Year Ended December 31, 2020 As previously reported Restatement Impacts As Restated Change in fair value of warrant liability $ - $ 19,714 $ 19,714 Total other income 249 19,714 19,963 Income before income tax 30,918 19,714 50,632 Net income 29,245 19,714 48,959 Net income attributable to Glory Star New Media Group Holdings Limited’s shareholders 29,276 19,714 48,990 Comprehensive income 35,740 19,714 55,454 Comprehensive income attributable to Glory Star New Media Group Holdings Limited’s shareholders 35,744 19,714 55,458 Earnings per ordinary share Basic 0.54 0.37 0.91 Dilutive 0.50 0.33 0.83 CONSOLIDATED STATEMENTS OF CASH FLOWS For the Year Ended December 31, 2020 As previously reported Restatement Impacts As Restated CASH FLOWS FROM OPERATING ACTIVITIES: Net income $ 29,245 $ 19,714 $ 48,959 Adjustments to reconcile net income to net cash provided by operating activities: Change in fair value of warrant liability - (19,714 ) (19,714 ) Net cash provided by operating activities 8,741 8,741

Organization and Principal Ac_2

Organization and Principal Activities (Tables)	12 Months Ended
	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of financial statements of VIEs	As of December 31, 2019 2020 Total assets $ 79,710 $ 143,356 Total liabilities $ 17,454 $ 37,095 For the Years Ended 2019 2020 Total revenues $ 65,777 $ 123,763 Net income $ 26,403 $ 37,649 Net cash provided by operating activities $ 26,092 $ 8,731 Net cash used in investing activities $ (15,318 ) $ (4,418 ) Net cash (used in) provided by financing activities $ (6,224 ) $ 5,358

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Schedule of estimated useful lives	Estimated Useful Life Electric equipment 3 Years Office equipment and furniture 3 - 5 Years Leasehold improvement Shorter of useful life or lease term
Schedule of disaggregation of our revenue	For the years ended 2019 2020 (In U.S. dollars in thousands) Category of Revenue: Advertising revenue $ 48,391 $ 104,664 Customized content production revenue 9,098 10,200 Copyrights revenue 7,369 6,883 CHEERS e-Mall marketplace service revenue 670 1,517 Other revenue 249 499 Total $ 65,777 $ 123,763 Timing of Revenue Recognition: Services transferred over time $ 64,858 $ 121,747 Services transferred at a point in time 670 1,517 Goods transferred at a point in time 249 499 Total $ 65,777 $ 123,763

Accounts Receivable, Net (Table

Accounts Receivable, Net (Tables)	12 Months Ended
	Dec. 31, 2020
Accounts Receivable, after Allowance for Credit Loss [Abstract]
Schedule of accounts receivable	December 31, December 31, Accounts receivable - gross $ 53,007 $ 81,996 Allowance for doubtful accounts (1,946 ) (886 ) Accounts receivables, net $ 51,061 $ 81,110

Prepayment and Other Assets (Ta

Prepayment and Other Assets (Tables)	12 Months Ended
	Dec. 31, 2020
Prepayment and Other Assets [Abstract]
Schedule of prepayment and other assets	December 31, December 31, Prepayment for outsourced production cost $ 1,912 $ 1,052 Prepayment for co-produced TV series - 17,464 Advances to vendors 72 4,544 Staff advance 182 15 Others 333 116 Subtotal 2,499 23,191 Less: allowance for doubtful accounts - - Prepayment and other assets, net $ 2,499 $ 23,191 Including: Prepayment and other current assets, net $ 2,499 $ 2,544 Prepayment and other non-current assets, net $ - $ 20,647

Property and Equipment, Net (Ta

Property and Equipment, Net (Tables)	12 Months Ended
	Dec. 31, 2020
Property and Equipment, Net [Abstract]
Schedule of property and equipment	December 31, December 31, Electronic equipment $ 720 $ 821 Office equipment and furniture 63 77 Leasehold improvement 128 110 911 1,008 Less: accumulated depreciation (580 ) (757 ) $ 331 $ 251

Intangible Assets, Net (Tables)

Intangible Assets, Net (Tables)	12 Months Ended
	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of intangible assets	December 31, December 31, Intangible assets – gross $ 15,213 $ 18,002 Less: accumulated amortization (530 ) (2,370 ) $ 14,683 $ 15,632
Schedule of amortization amount of intangible asset	2021 $ 2,456 2022 2,569 2023 2,569 2024 2,569 Thereafter 5,469 Total $ 15,632

Accrued Liabilities and Other_2

Accrued Liabilities and Other Payables (Tables)	12 Months Ended
	Dec. 31, 2020
Payables and Accruals [Abstract]
Schedule of accrued liabilities and other payables	December 31, December 31, Borrowing from former shareholder (1) $ 2,155 $ 1,226 Payable to merchants of Cheers e-Mall (2) - 7,373 Co-invest online series production fund 472 793 Payroll payables 1,262 1,525 Other payables 2,245 374 $ 6,134 $ 11,291 (1) Borrowing from former shareholder represented the loan from Lead Eastern Investment Co., Ltd, who was the related party of the Company until October 26, 2018. (2) Payable to merchants of Cheers e-Mall related to cash received on behalf of the merchants in advance, for which the related transactions have not been completed.

Other Taxes Payable (Tables)

Other Taxes Payable (Tables)	12 Months Ended
	Dec. 31, 2020
Payables and Accruals [Abstract]
Schedule of other taxes payable	December 31, December 31, VAT payable $ 1,839 $ 5,377 Income tax payable (30 ) 1,930 Business tax payable 60 561 Others 21 26 $ 1,890 $ 7,894

Bank Loans (Tables)

Bank Loans (Tables)	12 Months Ended
	Dec. 31, 2020
Bank Loans [Abstract]
Schedule of bank loan	December 31, December 31, Short-term bank loans: Loan from Bank of Beijing (1) $ 718 $ 452 Loan from China Merchants Bank (2) - 3,023 Loan from Huaxia Bank (3) - 152 Loan from Xiamen International Bank (4) - 1,533 718 5,160 Long-term bank loan: Loan from Huaxia Bank (3) - 1,374 $ 718 $ 6,534 (1) On December 18, 2019, Glory Star Beijing entered into a loan agreement with Bank of Beijing to borrow $718 as working capital for one year, with maturity date of December 18, 2020. The loan bears a fixed interest rate of 5.22% per annum. The loan is guaranteed by Beijing Haidian Sci-tech Enterprises Financing Guarantee Co., Ltd, for whom a counter-guarantee was provided by Horgos and Mr. Zhang Bing, the Chairman of the Company’s board of directors. The Company repaid the full amount in December 2020. On December 9, 2020, Glory Star Beijing entered into a loan agreement with Bank of Beijing to borrow $460 as working capital for one year, with maturity date of December 9, 2021. The loan bears a fixed interest rate of 4.76% per annum. The Company incurred guarantee fee in the amount of $8 for the loan of which the unamortized balance was $8 as of December 31, 2020. Loan issuance costs are presented on the consolidated balance sheets as a direct deduction from the carrying amount of the loan and amortized to interest expense using the effective interest rate of 6.57% as of December 31, 2020. The loan is guaranteed by Beijing Haidian Sci-tech Enterprises Financing Guarantee Co., Ltd, for whom a counter-guarantee was provided by Horgos and Mr. Zhang Bing, the Chairman of the Company’s board of directors. (2) In December 2019, Glory Star Beijing entered into a two-year credit facility agreement of maximum $1,533 with China Merchants Bank. On January 6, 2020, Glory Star Beijing made a withdraw of $1,533, which will be due on January 5, 2021.The loan bears a fixed interest rate of 4.785%. The Company incurred guarantee fee in the amount of $35 for the loan. Loan issuance costs are presented on the consolidated balance sheets as a direct deduction from the carrying amount of the loan and amortized to interest expense using the effective interest rate of 7.23%. The loan was fully repaid on December 30, 2020. The same amount of loan was reissued on the same date with a fixed interest rate of 4.45%. The loan will be due on December 29, 2021. The Company incurred guarantee fee in the amount of $35 for the loan of which the unamortized balance was $35 as of December 31, 2020. Loan issuance costs are presented on the consolidated balance sheets as a direct deduction from the carrying amount of the loan and amortized to interest expense using the effective interest rate of 6.89% as of December 31, 2020. In March 2020, Glory Star Beijing entered into another two-year credit facility agreement of maximum $1,533 with China Merchants Bank. On March 27, 2020, Glory Star Beijing made a withdraw of $1,533, which will be due on March 26, 2021. The loan bears a fixed interest rate of 4.3%. The Company incurred guarantee fee in the amount of $35 for the loan of which the unamortized balance was $8 as of December 31, 2020. Loan issuance costs are presented on the consolidated balance sheets as a direct deduction from the carrying amount of the loan and amortized to interest expense using the effective interest rate of 6.73% as of December 31, 2020. The above loans are guaranteed by Beijing Zhongguancun Sci-tech Financing Guarantee Co., Ltd, for whom a counter guarantee was provided by Horgos, Mr. Zhang Bing, the Chairman of the Company’s board of directors, and Mr. Lu Jia, the Vice President of the Company. (3) In March, 2020, Glory Star Beijing entered into a two-year credit facility agreement of maximum $1,533 with Huaxia Bank. On March 23, 2020, Glory Star Beijing made a withdrawal of $1,533, $153 of which will be due on March 21, 2021 and the remaining of $1,380 will be due on March 23, 2022. The loan bears a fixed interest rate of 6.09% per annum. The Company incurred guarantee fee in the amount of $3 and $26 for the loan’s short-term portion and long-term portion of which the unamortized balance was $1 and $6 as of December 31, 2020, respectively. Loan issuance costs are presented on the consolidated balance sheets as a direct deduction from the carrying amount of the loan and amortized to interest expense using the effective interest rate of 8.13% as of December 31, 2020. The loan is guaranteed by Beijing Haidian Sci-tech Enterprises Financing Guarantee Co., Ltd. Horgos provided counter-guarantee to Beijing Haidian Sci-tech Enterprises Financing Guarantee Co., Ltd with accounts receivable from Beijing iQYI Technology Co., Ltd. pledged as collateral and Mr. Zhang Bing, the Chairman of the Company’s board of directors, provided the additional guarantee. (4) On September 29, 2020, Leshare Beijing entered into a two-year credit facility agreement of maximum $1,073 and an one-year credit facility agreement of maximum $460 with Xiamen International Bank, respectively. On September 30, 2020, Leshare Beijing withdrew $1,073 and $460, respectively, both with maturity date of March 29, 2021. These loans bear fixed interest rate of 6.0% and 5.5% respectively. These loans are guaranteed by Horgos, and Mr. Zhang Bing, the Chairman of the Company’s board of directors

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2020
Leases [Abstract]
Schedule of supplemental balance sheet information related to operating lease	December 31, December 31, Right-of-use assets $ 2,027 $ 1,689 Operating lease liabilities - current $ 313 $ 385 Operating lease liabilities - non-current 1,718 1,386 Total operating lease liabilities $ 2,031 $ 1,771
Schedule of remaining lease term and discount rate	Remaining lease term and discount rate: Weighted average remaining lease term (years) 4.10 Weighted average discount rate 5.55 %
Schedule of maturities of lease liabilities	2021 $ 468 2022 468 2023 514 2024 514 2025 - Total lease payments 1,964 Less: imputed interest 193 Present value of lease liabilities $ 1,771

Related Party Transactions (Tab

Related Party Transactions (Tables)	12 Months Ended
	Dec. 31, 2020
Related Party Transactions [Abstract]
Schedule of amounts due to related parties	December 31, December 31, Mr. Zhang Bing (1) $ 726 $ - Mr. Lu Jia (2) 799 - Mr.Wang jian (3) - 230 TKK Symphony Sponsor 1 - 500 $ 1,525 $ 730 (1) Chairman of the Company's board of directors and CEO of the Company (2) Board member and vice president of the Company. (3) Legal representative, Director, and General Manager of Glary Prosperity

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Schedule of reconciliations of the statutory income tax rate	For the Years Ended 2019 2020 (Restated) Net income before provision for income taxes $ 26,594 $ 50,632 PRC statutory tax rate 25 % 25 % Income tax at statutory tax rate 6,649 12,658 Expenses not deductible for tax purpose 350 297 Changes in valuation allowance - 6 Effect of warrant liability revaluation - (4,928 ) Effect of preferential tax rates granted to the PRC entities (a) (6,808 ) (6,360 ) Income tax expense $ 191 $ 1,673 Effective income tax rate 0.72 % 3.30 % (a) The Company’s subsidiary Horgos, Horgos Glory Prosperity and Horgos Technology are subject to a favorable tax rate of 0%. Beijing Leshare was recognized as a high-tech enterprise and received a preferential income tax rate of 15%. For the years ended December 31, 2019 and 2020, the tax saving as the result of the favorable tax rate amounted to $6,808 and $6,360, respectively, and per share effect of the favorable tax rate were $0.17 and $0.12.
Schedule of deferred tax asset	December 31, December 31, Deferred tax assets: Allowance for doubtful accounts $ 16 $ 133 Net operating loss carry forwards 517 627 Total deferred tax assets, net $ 533 $ 760

Share-Based Compensation to E_2

Share-Based Compensation to Employees (Tables)	12 Months Ended
	Dec. 31, 2020
Retirement Benefits [Abstract]
Schedule of restricted ordinary shares activities	Number of Weighted average grant date fair value US$ December 31, 2019 - - Granted 1,593,000 3.43 Forfeited or canceled (24,000 ) 3.23 Vested 1,567,000 3.43 December 31, 2020 2,000 3.01
Schedule of compensation expense recognized for restricted ordinary shares	For the Year Ended 2020 Cost of revenues $ 448 Selling and marketing 355 General and administrative 4,578 $ 5,381

Private Placement Warrants (R_2

Private Placement Warrants (Restated) (Tables)	12 Months Ended
	Dec. 31, 2020
Private Placement Warrants (Restated) [Abstract]
Schedule of change in fair value of warrant liability	Warrant (Restated) Estimated fair value at December 31, 2019 $ - Warrant liability assumed from the Business Combination 20,547 Change in estimated fair value (19,714 ) Estimated fair value at December 31, 2020 $ 833
Schedule of inputs and significant assumptions including volatility	For the February 14, Stock price $ 2.75 $ 10.00 Exercise price $ 11.50 $ 11.50 Risk-free interest rate 0.28 % 1.42 % Expected term (in years) 4.12 5.00 Expected dividend yield - - Expected volatility 45.5 % 39.2 %

Segment Information (Tables)

Segment Information (Tables)	12 Months Ended
	Dec. 31, 2020
Segment Reporting [Abstract]
Schedule of operating segment results	For the Years Ended 2019 2020 Net revenues: Cheers App Internet Business $ 28,301 $ 83,573 Traditional Media Business 37,476 40,190 Total consolidated net revenues $ 65,777 $ 123,763 Operating income: Cheers APP Internet Business $ 11,548 $ 24,343 Traditional Media Business 15,291 11,707 Total segment operating income 26,839 36,050 Unallocated item (1) - (5,381 ) Total consolidated operating income $ 26,839 $ 30,669 (1) The unallocated item for the year ended December 31, 2020 presents the share-based compensation for employees, which is not allocated to segments.

Quarterly Financial Data (Una_2

Quarterly Financial Data (Unaudited) (Restated) (Tables)	12 Months Ended
	Dec. 31, 2020
Quarterly Financial Information Disclosure [Abstract]
Schedule of quarterly financial information of operations and comprehensive loss	For the Three Months Ended 2019 2020 Restated Revenues $ 13,753 $ 9,757 Operating expenses: Cost of revenues (8,212 ) (4,991 ) Selling and marketing (259 ) (379 ) General and administrative (639 ) (1,287 ) Research and development (197 ) (206 ) Total operating expenses (9,307 ) (6,863 ) Income from operations 4,446 2,894 Other (expenses) income: Interest expense, net (135 ) (87 ) Change in fair value of private warrant liability - 18,117 Other (expenses) income, net (5 ) 30 Total other expenses (140 ) 18,060 Income before income tax 4,306 20,954 Income tax (expense) benefit (172 ) 5 Net income 4,134 20,959 Less: net loss attributable to non-controlling interests (9 ) (59 ) Net income attributable to Glory Star New Media Group Holdings Limited's shareholders $ 4,143 $ 21,018 Other comprehensive income (loss) Unrealized foreign currency translation gain (loss) 577 (1,087 ) Comprehensive income 4,711 19,872 Less: comprehensive loss attributable to non-controlling interests - (67 ) Comprehensive income attributable to Glory Star New Media Group Holdings Limited's shareholders $ 4,711 $ 19,939 Earnings per ordinary share Basic $ 0.10 $ 0.46 Weighted average shares used in calculating earnings per ordinary share Basic 41,204,025 45,504,828 Earnings per ordinary share Dilutive $ 0.09 $ 0.41 Weighted average shares used in calculating earnings per ordinary share Dilutive 46,484,025 50,784,828 For the Three Months Ended For the Six Months Ended 2019 2020 2019 2020 Restated Restated Revenues (a) $ 18,494 $ 19,651 $ 32,246 $ 29,408 Operating expenses: Cost of revenues (10,080 ) (5,392 ) (18,292 ) (10,383 ) Selling and marketing (456 ) (1,775 ) (716 ) (2,153 ) General and administrative (1,147 ) (3,783 ) (1,786 ) (5,070 ) Research and development (251 ) (130 ) (448 ) (336 ) Total operating expenses (11,934 ) (11,080 ) (21,242 ) (17,942 ) Income from operations 6,560 8,571 11,004 11,466 Other (expenses) income: Interest expense, net (82 ) (82 ) (218 ) (169 ) Change in fair value of private warrant liability - 95 - 18,213 Other (expenses) income, net (3 ) 92 (8 ) 123 Total other expenses (85 ) 105 (226 ) 18,167 Income before income tax 6,475 8,676 10,778 29,633 Income tax (expense) benefit 64 459 (107 ) 464 Net income 6,539 9,135 10,671 30,097 Less: net loss attributable to non-controlling interests (65 ) (36 ) (74 ) (94 ) Net income attributable to Glory Star New Media Group Holdings Limited's shareholders $ 6,604 $ 9,171 $ 10,745 $ 30,191 Other comprehensive income (loss) Unrealized foreign currency translation gain (loss) (765 ) 108 (188 ) (979 ) Comprehensive income 5,774 9,243 10,483 29,118 Less: comprehensive loss attributable to non-controlling interests (70 ) (35 ) (69 ) (102 ) Comprehensive income attributable to Glory Star New Media Group Holdings Limited's shareholders $ 5,844 $ 9,278 $ 10,552 $ 29,220 Earnings per ordinary share Basic $ 0.16 $ 0.17 $ 0.26 $ 0.60 Weighted average shares used in calculating earnings per ordinary share Basic 41,204,025 54,749,415 41,204,025 50,127,122 Earnings per ordinary share Dilutive $ 0.14 $ 0.16 $ 0.23 $ 0.59 Weighted average shares used in calculating earnings per ordinary share Dilutive 46,484,025 56,074,415 46,484,025 51,452,122 For the Three Months Ended As previously Restatement As Restated Revenues $ 9,757 $ - $ 9,757 Operating expenses: Cost of revenues (4,991 ) - (4,991 ) Selling and marketing (379 ) - (379 ) General and administrative (1,287 ) - (1,287 ) Research and development (206 ) - (206 ) Total operating expenses (6,863 ) - (6,863 ) Income from operations 2,894 - 2,894 Other (expenses) income: Interest expense, net (87 ) - (87 ) Change in fair value of warrant liability - 18,117 18,117 Other (expenses) income, net 30 - 30 Total other (expenses) income (57 ) 18,117 18,060 Income before income tax 2,837 18,117 20,954 Income tax (expense) benefit 5 - 5 Net income 2,842 18,117 20,959 Less: net loss attributable to non-controlling interests (59 ) - (59 ) Net income attributable to Glory Star New Media Group Holdings Limited's shareholders $ 2,901 $ 18,117 $ 21,018 Other comprehensive income (loss) Unrealized foreign currency translation gain (loss) (1,087 ) - (1,087 ) Comprehensive income 1,755 18,117 19,872 Less: comprehensive loss attributable to non-controlling interests (67 ) - (67 ) Comprehensive income attributable to Glory Star New Media Group Holdings Limited's shareholders $ 1,822 $ 18,117 $ 19,939 Earnings per ordinary share Basic $ 0.06 $ 0.40 $ 0.46 Weighted average shares used in calculating earnings per ordinary share Basic 45,504,828 - 45,504,828 Earnings per ordinary share Dilutive $ 0.06 $ 0.35 $ 0.41 Weighted average shares used in calculating earnings per ordinary share Dilutive 50,784,828 - 50,784,828 For the Three Months Ended As previously Restatement As Restated Revenues $ 19,651 $ - $ 19,651 Operating expenses: Cost of revenues (5.392 ) - (5.392 ) Selling and marketing (1,775 ) - (1,775 ) General and administrative (3,783 ) - (3,783 ) Research and development (130 ) - (130 ) Total operating expenses (11,080 ) - (11,080 ) Income from operations Other (expenses) income: Interest expense, net (82 ) - (82 ) Change in fair value of warrant liability - 95 95 Other (expenses) income, net 92 - 92 Total other (expenses) income 10 95 105 Income before income tax 8,581 95 8,676 Income tax (expense) benefit 459 - 459 Net income 9,040 95 9,135 Less: net loss attributable to non-controlling interests (36 ) - (36 ) Net income attributable to Glory Star New Media Group Holdings Limited's shareholders $ 9,076 $ 95 $ 9,171 Other comprehensive income (loss) Unrealized foreign currency translation gain (loss) 108 - 108 Comprehensive income Less: comprehensive loss attributable to non-controlling interests (35 ) - (35 ) Comprehensive income attributable to Glory Star New Media Group Holdings Limited's shareholders $ 9,183 $ 95 $ 9,278 Earnings per ordinary share Basic $ 0.17 $ - $ 0.17 Weighted average shares used in calculating earnings per ordinary share Basic 54,749,415 - 54,749,415 Earnings per ordinary share Dilutive $ 0.16 $ - $ 0.16 Weighted average shares used in calculating earnings per ordinary share Dilutive 56,074,415 - 56,074,415 For the Six Months Ended As previously Restatement As Restated Revenues (a) $ 29,408 $ - $ 29,408 Operating expenses: Cost of revenues (10,383 ) - (10,383 ) Selling and marketing (2,153 ) - (2,153 ) General and administrative (5,070 ) - (5,070 ) Research and development (336 ) - (336 ) Total operating expenses (17,942 ) - (17,942 ) Income from operations 11,466 - 11,466 Other (expenses) income: Interest expense, net (169 ) - (169 ) Change in fair value of warrant liability - 18,213 18,213 Other (expenses) income, net 123 - 123 Total other expenses (46 ) 18,213 18,167 - Income before income tax 11,420 18,213 29,633 Income tax (expense) benefit 464 - 464 Net income 11,884 18,213 30,097 Less: net loss attributable to non-controlling interests (94 ) - (94 ) Net income attributable to Glory Star New Media Group Holdings Limited's shareholders $ 11,978 $ 18,213 $ 30,191 Other comprehensive income (loss) Unrealized foreign currency translation gain (loss) (979 ) - (979 ) Comprehensive income 10,905 18,213 29,118 Less: comprehensive loss attributable to non-controlling interests (102 ) - (102 ) Comprehensive income attributable to Glory Star New Media Group Holdings Limited's shareholders $ 11,007 $ 18,213 $ 29,220 Earnings per ordinary share Basic $ 0.24 $ 0.36 $ 0.60 Weighted average shares used in calculating earnings per ordinary share Basic 50,127,122 - 50,127,122 Earnings per ordinary share Dilutive $ 0.23 $ 0.36 $ 0.59 Weighted average shares used in calculating earnings per ordinary share Dilutive 51,452,122 - 51,452,122
Schedule of restatement of quarterly consolidated financial statements	For the Three Months Ended As previously Restatement As Restated Change in fair value of warrant liability $ - $ 18,117 $ 18,117 Total other (expenses) income (57 ) 18,117 18,060 Income before income tax 2,837 18,117 20,954 Net income 2,842 18,117 20,959 Net income attributable to Glory Star New Media Group Holdings Limited’s shareholders 2,901 18,117 21,018 Comprehensive income 1,755 18,117 19,872 Comprehensive income attributable to Glory Star New Media Group Holdings Limited’s shareholders 1,822 18,117 19,939 Earnings per ordinary share Basic 0.06 0.40 0.46 Dilutive 0.06 0.35 0.41 For the Three Months Ended As previously Restatement As Restated Change in fair value of warrant liability $ - $ 95 $ 95 Total other (expenses) income 10 95 105 Income before income tax 8,581 95 8,676 Net income 9,040 95 9,135 Net income attributable to Glory Star New Media Group Holdings Limited’s shareholders 9,076 95 9,171 Comprehensive income 9,148 95 9,243 Comprehensive income attributable to Glory Star New Media Group Holdings Limited’s shareholders 9,183 95 9,278 Earnings per ordinary share Basic 0.17 - 0.17 Dilutive 0.16 - 0.16 For the Six Months Ended As previously Restatement As Restated Change in fair value of warrant liability $ - $ 18,213 $ 18,213 Total other expenses (46 ) 18,213 18,167 Income before income tax 11,420 18,213 29,633 Net income 11,884 18,213 30,097 Net income attributable to Glory Star New Media Group Holdings Limited’s shareholders 11,978 18,213 30,191 Comprehensive income 10,905 18,213 29,118 Comprehensive income attributable to Glory Star New Media Group Holdings Limited’s shareholders 11,007 18,213 29,220 Earnings per ordinary share - Basic 0.24 0.36 0.60 Dilutive 0.23 0.36 0.59
Schedule of quarterly financial information of balance sheet	As of March 31, 2020 As previously reported Restatement Impacts As Restated Assets Current assets: Cash and cash equivalents $ 9,961 $ - $ 9,961 Accounts receivable, net 55,003 - 55,003 Prepayment and other current assets 2,554 - 2,554 Total current assets 67,518 - 67,518 Property and equipment, net 269 - 269 Intangible assets, net 14,051 - 14,051 Deferred tax assets 596 - 596 Unamortized produced content, net 1,342 - 1,342 Right-of-use assets 1,907 - 1,907 Total non-current assets 18,165 - 18,165 TOTAL ASSETS $ 85,683 $ - $ 85,683 Liabilities and Equity Current liabilities: Short-term bank loans $ 3,672 $ - $ 3,672 Accounts payable 5,095 - 5,095 Advances from customers 498 - 498 Accrued liabilities and other payables 5,569 - 5,569 Other taxes payable 2,148 - 2,148 Operating lease liabilities -current 333 - 333 Due to related parties 1,999 - 1,999 Convertible promissory note - related party 1,400 - 1,400 Total current liabilities 20,714 - 20,714 Long-term bank loan 1,271 - 1,271 Operating lease liabilities - non-current 1,488 - 1,488 Warrant liability - 2,429 2,429 Total non-current liabilities 2,759 2,429 5,188 TOTAL LIABILITIES $ 23,473 $ 2,429 $ 25,902 Commitments and contingences Shareholders' equity Preferred shares (par value of $0.0001 per share; 2,000,000 authorized; none issued and outstanding) $ - $ - $ - Ordinary shares (par value of $0.0001 per share; 200,000,000 shares authorized as of December 31, 2019 and March 31, 2020; 41,204,025 and 50,898,866 shares issued and outstanding as of December 31, 2019 and March 31, 2020, respectively) 5 - 5 Additional paid-in capital 11,573 (11,498 ) 75 Statutory reserve 431 - 431 Retained earnings 52,448 9,069 61,517 Accumulated other comprehensive loss (2,655 ) - (2,655 ) TOTAL GLORY STAR NEW MEDIA GROUP HOLDINGS LIMITED SHAREHOLDERS' EQUITY 61,802 (2,429 ) 59,373 Non-controlling interest 408 - 408 TOTAL EQUITY 62,210 (2,429 ) 59,781 TOTAL LIABILITIES AND EQUITY $ 85,683 $ - $ 85,683 As of June 30, 2020 As previously reported Restatement Impacts As Restated Assets Current assets: Cash and cash equivalents $ 9,056 $ - $ 9,056 Accounts receivable, net 59,327 - 59,327 Prepayment and other current assets 10,203 - 10,203 Total current assets 78,586 - 78,586 Property and equipment, net 241 - 241 Intangible assets, net 14,683 - 14,683 Deferred tax assets 987 - 987 Unamortized produced content, net 2,175 - 2,175 Right-of-use assets 1,596 - 1,596 Total non-current assets 19,682 - 19,682 TOTAL ASSETS $ 98,268 $ - $ 98,268 Liabilities and Equity Current liabilities: Short-term bank loans $ 3,680 $ - $ 3,680 Accounts payable 6,731 - 6,731 Advances from customers 530 - 530 Accrued liabilities and other payables 5,579 - 5,579 Other taxes payable 2,103 - 2,103 Operating lease liabilities -current 296 - 296 Due to related parties 1,201 - 1,201 Convertible promissory note - related party 1,400 - 1,400 Total current liabilities 21,520 - 21,520 Long-term bank loan 1,274 - 1,274 Warrant liability - 2,333 2,333 Operating lease liabilities - non-current 1,322 - 1,322 Total non-current liabilities 2,596 2,333 4,929 TOTAL LIABILITIES $ 24,116 $ 2,333 $ 26,449 Commitments and contingences Shareholders' equity Preferred shares (par value of $0.0001 per share; 2,000,000 authorized; none issued and outstanding) $ - $ - $ - Ordinary shares (par value of $0.0001 per share; 200,000,000 shares authorized as of December 31, 2019 and June 30, 2020; 41,204,025 and 56,011,366 shares issued and outstanding as of December 31, 2019 and June 30, 2020, respectively) 6 - 6 Additional paid-in capital 14,365 (11,498 ) 2,867 Statutory reserve 431 - 431 Retained earnings 61,525 9,165 70,690 Accumulated other comprehensive loss (2,548 ) - (2,548 ) TOTAL GLORY STAR NEW MEDIA GROUP HOLDINGS LIMITED SHAREHOLDERS' EQUITY 73,779 (2,333 ) 71,446 Non-controlling interest 373 - 373 TOTAL EQUITY 74,152 (2,333 ) 71,819 - TOTAL LIABILITIES AND EQUITY $ 98,268 $ - $ 98,268
Schedule of quarterly financial information of cash flows	For the Three Months Ended As previously reported Restatement Impacts As Restated CASH FLOWS FROM OPERATING ACTIVITIES: Net income $ 2,841 $ 18,117 $ 20,958 Adjustments to reconcile net income to net cash provided by (used in) operating activities: (Reversal of allowance) allowance for doubtful accounts 381 - 381 Depreciation and amortization 448 - 448 Amortization of right-of-use assets 87 - 87 Deferred income tax expense (benefit) (73 ) - (73 ) Share base compensation 75 - 75 Change in fair value of warrant liability - (18,117 ) (18,117 ) Changes in assets and liabilities Accounts receivable (5,253 ) - (5,253 ) Prepayment and other current assets (49 ) - (49 ) Unamortized produced content 291 - 291 Accounts payable 591 - 591 Advances from customers (104 ) - (104 ) Accrued liabilities and other payables (469 ) - (469 ) Other taxes payable 295 - 295 Operating lease liabilities (179 ) - (179 ) Net cash provided by (used in) operating activities (1,118 ) - (1,118 ) CASH FLOWS FROM INVESTING ACTIVITIES: Purchase of property and equipment - - - Prepayments for acquisition of intangible assets - - - Net cash used in investing activities - - - CASH FLOWS FROM FINANCING ACTIVITIES: Proceeds from bank loans 4,299 - 4,299 Repayments of bank loans - - - Proceeds from a third party - - - Cash acquired from the acquisition of TKK 23 - 23 Net cash (used in) provided by financing activities 4,322 - 4,322 Effect of exchange rate changes (162 ) - (162 ) Net (decrease) increase in cash, cash equivalents and restricted cash 3,042 - 3,042 Cash, cash equivalents and restricted cash, at beginning of period 6,919 - 6,919 Cash, cash equivalents and restricted cash, at end of period $ 9,961 $ - $ 9,961 SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION: Interests paid $ 24 $ - $ 24 Right of use assets obtained in exchange for operating lease obligations $ - $ - $ - For the Six Months Ended As previously reported Restatement Impacts As Restated Net cash provided by (used in) operating activities $ (1,006 ) $ - $ (1,006 ) Net cash provided by (used in) investing activities (994 ) - (994 ) Net cash (used in) provided by financing activities 4,322 - 4,322 Effect of exchange rate changes $ (185 ) $ - $ (185 ) Net (decrease) increase in cash, cash equivalents and restricted cash 2,137 - 2,137 Cash, cash equivalents and restricted cash, at beginning of period 6,919 - 6,919 Cash, cash equivalents and restricted cash, at end of period $ 9,056 $ - $ 9,056

Restatement of Consolidated F_3

Restatement of Consolidated Financial Statements (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended	12 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2020	Dec. 31, 2020	Dec. 31, 2019
Liabilities and Equity
Warrant liability				$ 833
Total non-current liabilities				3,593	1,718
Total liabilities				38,949	17,454
Additional paid-in capital				9,159	13,375
Retained earnings				89,271	49,547
Total equity				103,976	61,781
Total liabilities and equity				143,396	79,710
Change in fair value of warrant liability				(19,714)
Income before income tax				50,632	26,594
Net income				48,959	26,403
Net income attributable to Glory Star New Media Group Holdings Limited’s shareholders				48,990	26,323
Comprehensive income				55,454	25,429
Comprehensive income attributable to Glory Star New Media Group Holdings Limited’s shareholders				$ 55,458	$ 25,355
Earnings per ordinary share
Basic				$ 0.91	$ 0.64
Dilutive				$ 0.83	$ 0.57
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income				$ 48,959	$ 26,403
Adjustments to reconcile net income to net cash provided by operating activities:
Net cash provided by operating activities				8,741	$ 26,092
As previously reported [Member]
Liabilities and Equity
Warrant liability
Total non-current liabilities	2,596	2,759	2,596	2,760
Total liabilities	24,116	23,473	24,116	38,116
Additional paid-in capital	14,365	11,573	14,365	20,657
Retained earnings	61,525	52,448	61,525	78,606
Total equity	74,152	62,210	74,152	105,280
Total liabilities and equity	98,268	85,683	98,268	143,396
Change in fair value of warrant liability
Total other income				249
Income before income tax	8,581	2,837	11,420	30,918
Net income	9,040	2,841	11,884	29,245
Net income attributable to Glory Star New Media Group Holdings Limited’s shareholders	9,076	2,901	11,978	29,276
Comprehensive income	9,148	1,755	10,905	35,740
Comprehensive income attributable to Glory Star New Media Group Holdings Limited’s shareholders	$ 9,183	$ 1,822	$ 11,007	$ 35,744
Earnings per ordinary share
Basic	$ 0.17	$ 0.06	$ 0.24	$ 0.54
Dilutive	$ 0.16	$ 0.06	$ 0.23	$ 0.5
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 9,040	$ 2,841	$ 11,884	$ 29,245
Adjustments to reconcile net income to net cash provided by operating activities:
Change in fair value of warrant liability
Net cash provided by operating activities		(1,118)	(1,006)	8,741
Restatement Impacts [Member]
Liabilities and Equity
Warrant liability	2,333	2,429	2,333	833
Total non-current liabilities	2,333	2,429	2,333	833
Total liabilities	2,333	2,429	2,333	833
Additional paid-in capital	(11,498)	(11,498)	(11,498)	(11,498)
Retained earnings	9,165	9,069	9,165	10,665
Total equity	(2,333)	(2,429)	(2,333)	(833)
Total liabilities and equity
Change in fair value of warrant liability	(95)	(18,117)	(18,213)	(19,714)
Total other income				19,714
Income before income tax	95	18,117	18,213	19,714
Net income	95	18,117	18,213	19,714
Net income attributable to Glory Star New Media Group Holdings Limited’s shareholders	95	18,117	18,213	19,714
Comprehensive income	95	18,117	18,213	19,714
Comprehensive income attributable to Glory Star New Media Group Holdings Limited’s shareholders	$ 95	$ 18,117	$ 18,213	$ 19,714
Earnings per ordinary share
Basic		$ 0.40	$ 0.36	$ 0.37
Dilutive		$ 0.35	$ 0.36	$ 0.33
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 95	$ 18,117	$ 18,213	$ 19,714
Adjustments to reconcile net income to net cash provided by operating activities:
Change in fair value of warrant liability				(19,714)
Net cash provided by operating activities
As Restated [Member]
Liabilities and Equity
Warrant liability	2,333	2,429	2,333	833
Total non-current liabilities	4,929	5,188	4,929	3,593
Total liabilities	26,449	25,902	26,449	38,949
Additional paid-in capital	2,867	75	2,867	9,159
Retained earnings	70,690	61,517	70,690	89,271
Total equity	71,819	59,781	71,819	104,447
Total liabilities and equity	98,268	85,683	98,268	143,396
Change in fair value of warrant liability	(95)	(18,117)	(18,213)	(19,714)
Total other income				19,963
Income before income tax	8,676	20,954	29,633	50,632
Net income	9,135	20,959	30,097	48,959
Net income attributable to Glory Star New Media Group Holdings Limited’s shareholders	9,171	21,018	30,191	48,990
Comprehensive income	9,243	19,872	29,118	55,454
Comprehensive income attributable to Glory Star New Media Group Holdings Limited’s shareholders	$ 9,278	$ 19,939	$ 29,220	$ 55,458
Earnings per ordinary share
Basic	$ 0.17	$ 0.46	$ 0.6	$ 0.91
Dilutive	$ 0.16	$ 0.41	$ 0.59	$ 0.83
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 9,135	$ 20,959	$ 30,097	$ 48,959
Adjustments to reconcile net income to net cash provided by operating activities:
Change in fair value of warrant liability				(19,714)
Net cash provided by operating activities		$ (1,118)	$ (1,006)	$ 8,741

Organization and Principal Ac_3

Organization and Principal Activities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Total assets	$ 143,396	$ 79,710
Total liabilities	38,949	17,454
Total revenues	123,763	65,777
Net income	48,959	26,403
Net cash provided by operating activities	8,741	26,092
Net cash used in investing activities	(4,418)	(15,318)
Net cash (used in) provided by financing activities	5,381	(6,224)
VIEs [Member]
Total assets	143,356	79,710
Total liabilities	37,095	17,454
Total revenues	123,763	65,777
Net income	37,649	26,403
Net cash provided by operating activities	8,731	26,092
Net cash used in investing activities	(4,418)	(15,318)
Net cash (used in) provided by financing activities	$ 5,358	$ (6,224)

Organization and Principal Ac_4

Organization and Principal Activities (Details Textual) - shares	1 Months Ended	12 Months Ended
	Sep. 30, 2019	Dec. 31, 2020	Feb. 14, 2020
Organization and Principal Activities (Textual)
Business combination, description		The Company acquired all of the issued and outstanding securities of Glory Star in exchange for (i) 41,204,025 of the Company's ordinary shares ("Closing Payment Shares"), of which 2,060,201 of the Closing Payment Shares shall be deposited into escrow to secure certain indemnification obligations of the Sellers, plus (ii) earn out payments consisting of up to an additional 5,000,000 of the Company's ordinary shares if the Company meet certain financial performance targets for the 2019 fiscal year and an additional 5,000,000 of the Company's ordinary shares if the Company meet certain financial performance targets for the 2020 fiscal year (the "Earn Out Shares"). In the event that a financial performance target is not met for the 2019 fiscal year and/or 2020 fiscal year but the Company meet certain financial performance targets for the 2019 fiscal year and 2020 fiscal year combined, the Sellers will be entitled to receive any Earn Out Shares that they otherwise did not receive.
Equity interest			100.00%
Shares issued and outstanding		49,767,866
Description of option agreement term	The term of each of these exclusive service agreements are perpetual unless terminated by WFOE upon thirty (30) advance notice, or upon the transfer of all shares of the respective VIEs to WFOE (or its designee) 10 years under the Option Agreement.	The term of each of these exclusive option agreements is 10 years and will be extended automatically for successive 5-year terms except where WFOE provides prior written notice otherwise.
Glory Star [Member]
Organization and Principal Activities (Textual)
Incorporation date		Nov. 30, 2018
Glory Star HK [Member]
Organization and Principal Activities (Textual)
Incorporation date		Dec. 18, 2018
Glory Star New Media (Beijing) Technology Co., Ltd. [Member]
Organization and Principal Activities (Textual)
Incorporation date		Mar. 13, 2019
Xing Cui [Member]
Organization and Principal Activities (Textual)
Incorporation date		Sep. 7, 2016
Horgos [Member]
Organization and Principal Activities (Textual)
Incorporation date		Nov. 1, 2016
Glory Star Beijing [Member]
Organization and Principal Activities (Textual)
Incorporation date		Dec. 9, 2016
Beijing Leshare [Member]
Organization and Principal Activities (Textual)
Incorporation date		Mar. 28, 2016
Glary Prosperity [Member]
Organization and Principal Activities (Textual)
Incorporation date		Dec. 14, 2017
Percentage of holdings		51.00%
Glary Prosperity Beijing Branchy [Member]
Organization and Principal Activities (Textual)
Incorporation date		May 8, 2018
Shenzhen Leshare [Member]
Organization and Principal Activities (Textual)
Incorporation date		Jun. 27, 2018
Horgos Glary Wisdom [Member]
Organization and Principal Activities (Textual)
Incorporation date		Jun. 13, 2018
Percentage of holdings		51.00%
Beijing Glary Wisdom [Member]
Organization and Principal Activities (Textual)
Incorporation date		Sep. 10, 2018
Horgos Technology [Member]
Organization and Principal Activities (Textual)
Incorporation date		Sep. 9, 2020

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details)	12 Months Ended
	Dec. 31, 2020
Electric equipment [Member]
Estimated useful life	3 years
Leasehold improvement [Member]
Leasehold improvement, description	Shorter of useful life or lease term
Office equipment and furniture [Member] | Minimum [Member]
Estimated useful life	3 years
Office equipment and furniture [Member] | Maximum [Member]
Estimated useful life	5 years

Summary of Significant Accoun_5

Summary of Significant Accounting Policies (Details 1) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Total	$ 123,763	$ 65,777
Services transferred over time [Member]
Total	121,747	64,858
Services transferred at a point in time [Member]
Total	1,517	670
Goods transferred at a point in time [Member]
Total	499	249
Advertising revenue [Member]
Total	104,664	48,391
Customized content production revenue [Member]
Total	10,200	9,098
Copyrights revenue [Member]
Total	6,883	7,369
CHEERS e-Mall marketplace service revenue [Member]
Total	1,517	670
Other revenue [Member]
Total	$ 499	$ 249

Summary of Significant Accoun_6

Summary of Significant Accounting Policies (Details Textual) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)CustomersSuppliers$ / shares	Dec. 31, 2019USD ($)CustomersSuppliers$ / shares
Summary of Significant Accounting Policies (Textual)
Federal depository insurance coverage | $	$ 17,730	$ 6,919
Amortized t cost of sales | $	15,970	17,199
Advances from customers | $	$ 609	$ 610
Description of term	Payment terms and conditions vary by contract types, and terms typically include a requirement for payment within a period from 6 to 9 months.
Income tax, description	The statute of limitations is extended to five years under special circumstances, where the underpayment of taxes is more than RMB 100,000 ($14,364). In the case of transfer pricing issues, the statute of limitation is ten years. There is no statute of limitation in the case of tax evasion. As of December 31, 2020, the tax years ended December 31, 2017 through December 31, 2020 for the Company's PRC subsidiaries remain open for statutory examination by PRC tax authorities.
Exception of equity rates	$ 1	$ 1
Average translation rates	1	1
RMB [Member]
Summary of Significant Accounting Policies (Textual)
Exception of equity rates	6.5250	6.9618
Average translation rates	$ 6.9042	$ 6.9081
Supplier [Member] | Accounts Payable [Member]
Summary of Significant Accounting Policies (Textual)
Concentration of credit risk, percentage	37.00%	41.00%
Number of suppliers | Suppliers	1	1
Accounts Receivable [Member]
Summary of Significant Accounting Policies (Textual)
Number of customers | Customers	5	5
Concentration of credit risk, percentage	70.00%	79.00%
Customer [Member] | Revenue [Member]
Summary of Significant Accounting Policies (Textual)
Concentration of credit risk, percentage	14.00%	15.00%
Customer [Member] | Accounts Receivable [Member]
Summary of Significant Accounting Policies (Textual)
Concentration of credit risk, percentage	18.00%	21.00%
Customer [Member] | Accounts Receivable [Member]
Summary of Significant Accounting Policies (Textual)
Concentration of credit risk, percentage	14.00%	18.00%
Customer [Member] | Accounts Receivable [Member]
Summary of Significant Accounting Policies (Textual)
Concentration of credit risk, percentage	13.00%	17.00%
Customer [Member] | Accounts Receivable [Member]
Summary of Significant Accounting Policies (Textual)
Concentration of credit risk, percentage	13.00%	11.00%
Customer [Member] | Accounts Receivable [Member]
Summary of Significant Accounting Policies (Textual)
Concentration of credit risk, percentage	12.00%	12.00%

Accounts Receivable, Net (Detai

Accounts Receivable, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Accounts Receivable, after Allowance for Credit Loss [Abstract]
Accounts receivable - gross	$ 81,996	$ 53,007
Allowance for doubtful accounts	(886)	(1,946)
Accounts receivables, net	$ 81,110	$ 51,061

Accounts Receivable, Net (Det_2

Accounts Receivable, Net (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Accounts Receivable, after Allowance for Credit Loss [Abstract]
Reversed bad debt expense	$ 1,126	$ 189

Prepayment and Other Assets (De

Prepayment and Other Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Prepayment and Other Assets [Abstract]
Prepayment for outsourced production cost	$ 1,052	$ 1,912
Prepayment for co-produced TV series	17,464
Advances to vendors	4,544	72
Staff advance	15	182
Others	116	333
Subtotal	23,191	2,499
Less: allowance for doubtful accounts
Prepayment and other assets, net	23,191	2,499
Including:
Prepayment and other current assets, net	2,544	2,499
Prepayment and other non-current assets, net	$ 20,647

Property and Equipment, Net (De

Property and Equipment, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Property and equipment, gross	$ 1,008	$ 911
Less: accumulated depreciation	(757)	(580)
Property and equipment, net	251	331
Electronic equipment [Member]
Property and equipment, gross	821	720
Office equipment and furniture [Member]
Property and equipment, gross	77	63
Leasehold improvement [Member]
Property and equipment, gross	$ 110	$ 128

Property and Equipment, Net (_2

Property and Equipment, Net (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Property and Equipment, Net (Textual)
Depreciation expense	$ 156	$ 207

Intangible Assets, Net (Details

Intangible Assets, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible assets – gross	$ 18,002	$ 15,213
Less: accumulated amortization	(2,370)	(530)
Total	$ 15,632	$ 14,683

Intangible Assets, Net (Detai_2

Intangible Assets, Net (Details 1) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
2021	$ 2,456
2022	2,569
2023	2,569
2024	2,569
Thereafter	5,469
Total	$ 15,632	$ 14,683

Intangible Assets, Net (Detai_3

Intangible Assets, Net (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Intangible Assets, Net (Textual)
Amortization expense	$ 2,754	$ 532
Intangible asset, useful life	7 years

Accrued Liabilities and Other_3

Accrued Liabilities and Other Payables (Details) - USD ($) $ in Thousands		Dec. 31, 2020	Dec. 31, 2019
Payables and Accruals [Abstract]
Borrowing from former shareholder	[1]	$ 1,226	$ 2,155
Payable to merchants of Cheers e-Mall	[2]	7,373
Co-invest online series production fund		793	472
Payroll payables		1,525	1,262
Other payables		374	2,245
Total		$ 11,291	$ 6,134
[1]	Borrowing from former shareholder represented the loan from Lead Eastern Investment Co., Ltd, who was the related party of the Company until October 26, 2018.
[2]	Payable to merchants of Cheers e-Mall related to cash received on behalf of the merchants in advance, for which the related transactions have not been completed.

Other Taxes Payable (Details)

Other Taxes Payable (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Payables and Accruals [Abstract]
VAT payable	$ 5,377	$ 1,839
Income tax payable	1,930	(30)
Business tax payable	561	60
Others	26	21
Total	$ 7,894	$ 1,890

Bank Loans (Details)

Bank Loans (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2020	Dec. 31, 2019
Short-Term Bank Loans [Member]
Bank loans		$ 5,160	$ 718
Short-Term Bank Loans [Member] | Loan from Bank of Beijing [Member]
Bank loans	[1]	452	718
Short-Term Bank Loans [Member] | Loan from China Merchants Bank [Member]
Bank loans	[2]	3,023
Short-Term Bank Loans [Member] | Loan from Huaxia Bank [Member]
Bank loans	[3]	152
Short-Term Bank Loans [Member] | Loan from Xiamen International Bank [Member]
Bank loans	[4]	1,533
Long-term Bank loans [Member]
Bank loans		6,534	718
Long-term Bank loans [Member] | Loan from Huaxia Bank [Member]
Bank loans	[3]	$ 1,374
[1]	On December 18, 2019, Glory Star Beijing entered into a loan agreement with Bank of Beijing to borrow $718 as working capital for one year, with maturity date of December 18, 2020. The loan bears a fixed interest rate of 5.22% per annum. The loan is guaranteed by Beijing Haidian Sci-tech Enterprises Financing Guarantee Co., Ltd, for whom a counter-guarantee was provided by Horgos and Mr. Zhang Bing, the Chairman of the Company's board of directors. The Company repaid the full amount in December 2020. On December 9, 2020, Glory Star Beijing entered into a loan agreement with Bank of Beijing to borrow $460 as working capital for one year, with maturity date of December 9, 2021. The loan bears a fixed interest rate of 4.76% per annum. The Company incurred guarantee fee in the amount of $8 for the loan of which the unamortized balance was $8 as of December 31, 2020. Loan issuance costs are presented on the consolidated balance sheets as a direct deduction from the carrying amount of the loan and amortized to interest expense using the effective interest rate of 6.57% as of December 31, 2020. The loan is guaranteed by Beijing Haidian Sci-tech Enterprises Financing Guarantee Co., Ltd, for whom a counter-guarantee was provided by Horgos and Mr. Zhang Bing, the Chairman of the Company's board of directors.
[2]	In December 2019, Glory Star Beijing entered into a two-year credit facility agreement of maximum $1,533 with China Merchants Bank. On January 6, 2020, Glory Star Beijing made a withdraw of $1,533, which will be due on January 5, 2021.The loan bears a fixed interest rate of 4.785%. The Company incurred guarantee fee in the amount of $35 for the loan. Loan issuance costs are presented on the consolidated balance sheets as a direct deduction from the carrying amount of the loan and amortized to interest expense using the effective interest rate of 7.23%. The loan was fully repaid on December 30, 2020. The same amount of loan was reissued on the same date with a fixed interest rate of 4.45%. The loan will be due on December 29, 2021. The Company incurred guarantee fee in the amount of $35 for the loan of which the unamortized balance was $35 as of December 31, 2020. Loan issuance costs are presented on the consolidated balance sheets as a direct deduction from the carrying amount of the loan and amortized to interest expense using the effective interest rate of 6.89% as of December 31, 2020.In March 2020, Glory Star Beijing entered into another two-year credit facility agreement of maximum $1,533 with China Merchants Bank. On March 27, 2020, Glory Star Beijing made a withdraw of $1,533, which will be due on March 26, 2021. The loan bears a fixed interest rate of 4.3%. The Company incurred guarantee fee in the amount of $35 for the loan of which the unamortized balance was $8 as of December 31, 2020. Loan issuance costs are presented on the consolidated balance sheets as a direct deduction from the carrying amount of the loan and amortized to interest expense using the effective interest rate of 6.73% as of December 31, 2020.The above loans are guaranteed by Beijing Zhongguancun Sci-tech Financing Guarantee Co., Ltd, for whom a counter guarantee was provided by Horgos, Mr. Zhang Bing, the Chairman of the Company's board of directors, and Mr. Lu Jia, the Vice President of the Company.
[3]	In March, 2020, Glory Star Beijing entered into a two-year credit facility agreement of maximum $1,533 with Huaxia Bank. On March 23, 2020, Glory Star Beijing made a withdrawal of $1,533, $153 of which will be due on March 21, 2021 and the remaining of $1,380 will be due on March 23, 2022. The loan bears a fixed interest rate of 6.09% per annum. The Company incurred guarantee fee in the amount of $3 and $26 for the loan's short-term portion and long-term portion of which the unamortized balance was $1 and $6 as of December 31, 2020, respectively. Loan issuance costs are presented on the consolidated balance sheets as a direct deduction from the carrying amount of the loan and amortized to interest expense using the effective interest rate of 8.13% as of December 31, 2020. The loan is guaranteed by Beijing Haidian Sci-tech Enterprises Financing Guarantee Co., Ltd. Horgos provided counter-guarantee to Beijing Haidian Sci-tech Enterprises Financing Guarantee Co., Ltd with accounts receivable from Beijing iQYI Technology Co., Ltd. pledged as collateral and Mr. Zhang Bing, the Chairman of the Company's board of directors, provided the additional guarantee.
[4]	On September 29, 2020, Leshare Beijing entered into a two-year credit facility agreement of maximum $1,073 and an one-year credit facility agreement of maximum $460 with Xiamen International Bank, respectively. On September 30, 2020, Leshare Beijing withdrew $1,073 and $460, respectively, both with maturity date of March 29, 2021. These loans bear fixed interest rate of 6.0% and 5.5% respectively. These loans are guaranteed by Horgos, and Mr. Zhang Bing, the Chairman of the Company's board of directors

Bank Loans (Details Textual)

Bank Loans (Details Textual) - USD ($) $ in Thousands	Dec. 09, 2020	Sep. 29, 2020	Mar. 23, 2020	Dec. 18, 2019	Mar. 31, 2020	Dec. 31, 2020	Dec. 31, 2019
Bank Loans (Textual)
Credit facility agreement, description					Glory Star Beijing entered into another two-year credit facility agreement of maximum $1,533 with China Merchants Bank. On March 27, 2020, Glory Star Beijing made a withdraw of $1,533, which will be due on March 26, 2021. The loan bears a fixed interest rate of 4.3%. The Company incurred guarantee fee in the amount of $35 for the loan of which the unamortized balance was $8 as of December 31, 2020. Loan issuance costs are presented on the consolidated balance sheets as a direct deduction from the carrying amount of the loan and amortized to interest expense using the effective interest rate of 6.73% as of December 31, 2020.	In December 2019, Glory Star Beijing entered into a two-year credit facility agreement of maximum $1,533 with China Merchants Bank. On January 6, 2020, Glory Star Beijing made a withdraw of $1,533, which will be due on January 5, 2021.The loan bears a fixed interest rate of 4.785%. The Company incurred guarantee fee in the amount of $35 for the loan. Loan issuance costs are presented on the consolidated balance sheets as a direct deduction from the carrying amount of the loan and amortized to interest expense using the effective interest rate of 7.23%. The loan was fully repaid on December 30, 2020. The same amount of loan was reissued on the same date with a fixed interest rate of 4.45%. The loan will be due on December 29, 2021. The Company incurred guarantee fee in the amount of $35 for the loan of which the unamortized balance was $35 as of December 31, 2020. Loan issuance costs are presented on the consolidated balance sheets as a direct deduction from the carrying amount of the loan and amortized to interest expense using the effective interest rate of 6.89% as of December 31, 2020
Weighted average interest rate						7.19%	5.65%
Interest expense related to bank loans						$ 332	$ 270
Glory Star Beijing [Member]
Bank Loans (Textual)
Fixed interest rate					6.09%
Effective interest rate						8.13%
Credit facility agreement amount					$ 1,533
Credit facility term					2 years
Withdraw amount			$ 1,533
Bank loan, description			Glory Star Beijing made a withdrawal of $1,533, $153 of which will be due on March 21, 2021 and the remaining of $1,380 will be due on March 23, 2022.
Guarantee fee, description			The Company incurred guarantee fee in the amount of $3 and $26 for the loan's short-term portion and long-term portion of which the unamortized balance was $1 and $6 as of  December 31, 2020, respectively.
Leshare Beijing [Member]
Bank Loans (Textual)
Credit facility agreement, description		On September 29, 2020, Leshare Beijing entered into a two-year credit facility agreement of maximum $1,073 and an one-year credit facility agreement of maximum $460 with Xiamen International Bank, respectively. On September 30, 2020, Leshare Beijing withdrew $1,073 and  $460, respectively, both with maturity date of March 29, 2021. These loans bear fixed interest rate of 6.0% and 5.5% respectively. These loans are guaranteed by Horgos, and Mr. Zhang Bing, the Chairman of the Company's board of directors
Loan Agreement [Member]
Bank Loans (Textual)
Working capital	$ 460			$ 718
Maturity date	Dec. 9, 2021			Dec. 18, 2020
Fixed interest rate	4.76%			5.22%
Guarantee fee						$ 8
Unamortized loan balance						$ 8
Effective interest rate						6.57%

Leases (Details)

Leases (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Right-of-use assets	$ 1,689	$ 2,027
Operating lease liabilities - current	385	313
Operating lease liabilities - non-current	1,386	1,718
Operating Lease [Member]
Right-of-use assets	2,027	1,689
Operating lease liabilities - current	313	385
Operating lease liabilities - non-current	1,718	1,386
Total operating lease liabilities	$ 2,031	$ 1,771

Leases (Details 1)

Leases (Details 1)	12 Months Ended
	Dec. 31, 2020
Leases [Abstract]
Weighted average remaining lease term (years)	4 years 1 month 6 days
Weighted average discount rate	5.55%

Leases (Details 2)

Leases (Details 2) - Lease Liabilities [Member] $ in Thousands	Dec. 31, 2020USD ($)
2021	$ 468
2022	468
2023	514
2024	514
2025
Total lease payments	1,964
Less: imputed interest	193
Present value of lease liabilities	$ 1,771

Leases (Details Textual)

Leases (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Leases (Textual)
Initial term	12 months
Total operating lease expenses	$ 533	$ 488

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) $ in Thousands		Dec. 31, 2020	Dec. 31, 2019
Amounts due to related parties		$ 730	$ 1,525
Mr. Zhang Bing [Member]
Amounts due to related parties	[1]		726
Mr. Lu Jia [Member]
Amounts due to related parties	[2]		799
Mr. Wang jian [Member]
Amounts due to related parties	[3]	230
TKK Symphony Sponsor 1 [Member]
Amounts due to related parties		$ 500
[1]	Chairman of the Company's board of directors and CEO of the Company
[2]	Board member and vice president of the Company.
[3]	Legal representative, Director, and General Manager of Glary Prosperity

Related Party Transactions (D_2

Related Party Transactions (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended		2 Months Ended
	Feb. 14, 2021	Feb. 14, 2020	Sep. 06, 2019	Dec. 31, 2020	Dec. 31, 2019	Oct. 30, 2019	Sep. 30, 2019
Related Party Transactions (Textual)
Borrowed from related parties				$ 730	$ 1,525
GS Holdings [Member]
Related Party Transactions (Textual)
Principal amount			$ 1,100		$ 1,100
Converted into loans			$ 350
Business combination, description			(i) the consummation of a Business Combination or (ii) the liquidation of GS Holdings. Up to $1,000 of the loans under the Sponsor Note could be converted into warrants, each warrant entitling the holders to receive one half of one ordinary share, at $0.50 per warrant.
Outstanding balance		$ 1,400				$ 750	$ 750
Conversion price		$ 5
Maturity date of Amended Sponsor Note		Feb. 14, 2021
GS Holdings [Member] | Subsequent Event [Member]
Related Party Transactions (Textual)
Conversion price	$ 5
Conversion of shares	280,000

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Net income before provision for income taxes		$ 50,632	$ 26,594
PRC statutory tax rate		25.00%	25.00%
Income tax at statutory tax rate		$ 12,658	$ 6,649
Expenses not deductible for tax purpose		297	350
Changes in valuation allowance		6
Effect of warrant liability revaluation		(4,928)
Effect of preferential tax rates granted to the PRC entities	[1]	(6,360)	(6,808)
Income tax expense		$ 1,673	$ 191
Effective income tax rate		3.30%	0.72%
[1]	The Company's subsidiary Horgos, Horgos Glory Prosperity and Horgos Technology are subject to a favorable tax rate of 0%. Beijing Leshare was recognized as a high-tech enterprise and received a preferential income tax rate of 15%. For the years ended December 31, 2019 and 2020, the tax saving as the result of the favorable tax rate amounted to $6,808 and $6,360, respectively, and per share effect of the favorable tax rate were $0.17 and $0.12.

Income Taxes (Details 1)

Income Taxes (Details 1) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Deferred tax assets:
Allowance for doubtful accounts	$ 133	$ 16
Net operating loss carry forwards	627	517
Total deferred tax assets, net	$ 760	$ 533

Income Taxes (Details Textual)

Income Taxes (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	Mar. 16, 2007	Mar. 21, 2018	Dec. 31, 2020	Dec. 31, 2019
Profits tax rates, description		The Hong Kong Legislative Council passed The Inland Revenue (Amendment) (No. 7) Bill 2017 (the “Bill”) which introduces the two-tiered profits tax rates regime. The Bill was signed into law on March 28, 2018 and was gazette on the following day. Under the two-tiered profits tax rates regime, the first 2 million Hong Kong Dollar (“HKD”) of profits of the qualifying group entity will be taxed at 8.25%, and profits above HKD2 million will be taxed at 16.5%.
Statutory income tax rate			25.00%	25.00%
Preferential income tax rate			0.00%
Favorable tax rate			0.00%
Favorable tax rate amount			$ 6,360	$ 6,808
Favorable income tax rate per share			$ 0.12	$ 0.17
Withholding income tax, percent			10.00%
Income tax exempted, description			Horgos, Horgos Glory Prosperity, Horgos Glary Wisdom are subject to a preferential income tax rate of 0% for a period from 2017 to 2020, and Horgos Technology is eligible to be exempted from income tax from 2020 to 2024, as they are all incorporated in the Horgos Economic District, Xinjiang province.
Glory Star Beijing [Member]
Statutory income tax rate	25.00%
Preferential income tax rate			10.00%	10.00%
Leshare Beijing [Member]
Preferential income tax rate			15.00%	15.00%
Favorable tax rate			15.00%

Share-Based Compensation to E_3

Share-Based Compensation to Employees (Details)	12 Months Ended
	Dec. 31, 2020$ / sharesshares
Retirement Benefits [Abstract]
Number of shares | shares
Number of shares Granted | shares	1,593,000
Number of shares Forfeited or canceled | shares	(24,000)
Number of shares Vested | shares	1,567,000
Number of shares Balance | shares	2,000
Weighted average grant date fair value | $ / shares
Weighted average grant date fair value Granted | $ / shares	3.43
Weighted average grant date fair value Forfeited or canceled | $ / shares	3.23
Weighted average grant date fair value Vested | $ / shares	3.43
Weighted average grant date fair value | $ / shares	$ 3.01

Share-Based Compensation to E_4

Share-Based Compensation to Employees (Details 1) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)
Compensation expense	$ 5,381
Cost of revenues [Member]
Compensation expense	448
Selling and marketing [Member]
Compensation expense	355
General and administrative [Member]
Compensation expense	$ 4,578

Share-Based Compensation to E_5

Share-Based Compensation to Employees (Details Textual) - USD ($) $ in Thousands	Mar. 13, 2020	Feb. 14, 2020	Sep. 15, 2020	May 29, 2020	Dec. 31, 2020
Share-Based Compensation to Employees (Textual)
Fair value of shares vested					$ 5,379
Unrecognized compensation expense					$ 4
Weighted average period					8 months 12 days
Independent directors [Member]
Share-Based Compensation to Employees (Textual)
Award agreements, description	Pursuant to the Award Agreement, during the term of service as a director of the Company, each independent director of the Company shall be entitled to a fee of $2 per month ($24 per year) and 2,000 ordinary shares of the Company per year of service.
Executive officers [Member]
Share-Based Compensation to Employees (Textual)
Award agreements, description				The Company granted executive officers and key employees 1,585,000 shares pursuant to the Award Agreement under the Company's 2019 Plan. 50% shares vest immediately on the date of grant, and 50% shares vest on the date that is 90 days from the date of grant, subject to each person's continued employment. All of the shares vest as of December 31, 2020 except for 24,000 shares cancelled due to two employees' resignation from the Company.
Mr. Ke Chen [Member]
Share-Based Compensation to Employees (Textual)
Award agreements, description			Under the Chen Agreement, Mr. Chen will receive annual compensation in the amount of $2 per month ($24 per year), plus reimbursement of expenses, and 2,000 ordinary shares of the Company per year of service. On September 14, 2020, the Company granted Mr. Chen 2,000 Shares pursuant to the terms of the restricted stock award agreement under the Company's 2019 Equity Incentive Plan. 100% of the Shares shall fully vest on September 14, 2021.
2019 Equity Incentive Plan [Member]
Share-Based Compensation to Employees (Textual)
Granted shares pursuant to the award agreement	2,000	3,732,590
2019 Equity Incentive Plan [Member] | Maximum [Member]
Share-Based Compensation to Employees (Textual)
Fair market value per ordinary share, percentage		110.00%
2019 Equity Incentive Plan [Member] | Minimum [Member]
Share-Based Compensation to Employees (Textual)
Fair market value per ordinary share, percentage		100.00%

Equity (Details Textual)

Equity (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	May 13, 2020	Mar. 26, 2020	Mar. 13, 2020	Feb. 14, 2020	Aug. 22, 2018	Oct. 20, 2020	Apr. 22, 2020	Dec. 31, 2020	Sep. 15, 2020	Dec. 31, 2019
Equity (Textual)
Preferred shares, value								$ 0.0001		$ 0.0001
Preferred shares, authorized								2,000,000		2,000,000
Preferred shares, issued
Preferred shares, outstanding
Common stock, value								$ 0.0001		$ 0.0001
Common stock, authorized								200,000,000		200,000,000
Common stock, issued								57,886,352		41,204,025
Common stock, outstanding								57,886,352		41,204,025
Offering price					$ 0.50
Conversion of ordinary shares		800,000
Description of equity rights								Each holder of a Public Right will automatically receive one-tenth (1/10) of an ordinary share upon consummation of a Business Combination, even if the holder of a Public Right converted all ordinary shares held by him, her or it in connection with a Business Combination or an amendment to the Company's Amended and Restated Memorandum and Articles of Association with respect to its pre-business combination activities. Upon the closing of the Business Combination, the Company issued 2,504,330 shares in connection with an exchange of Public Rights.
Percentage statutory reserve								50.00%
Non-controlling interest rate								10.00%
Issuance of private placement					$ 600
Additional private placement shares					1,200,000
Exercise price					$ 11.50
Additional ordinary shares issued							5,000,000
Agreement, description						The Company entered into a subscription agreement with Hong Kong Duoku Limited ("Duoku"), pursuant to which the Company will issue 193,986 of ordinary shares at $10.31 per share to Duoku. On November 17, 2020, the Company has completed such issuance of 193,986 ordinary shares at a purchase price of $10.31 per share.
Public warrants, description								The Company may redeem the Public Warrants: ● in whole and not in part; ● at a price of $0.01 per warrant; ● at any time while the Public Warrants are exercisable; ● upon no less than 30 days’ prior written notice of redemption to each Public Warrant holder; ● if, and only if, the reported last sale price of the Company’s ordinary shares equals or exceeds $18.00 per share, for any 20 trading days within a 30 trading day period ending on the third business day prior to the notice of redemption to the warrant holders; and ● if, and only if, there is a current registration statement in effect with respect to the ordinary shares underlying such warrants at the time of redemption and for the entire 30-day trading period referred to above and continuing each day thereafter until the date of redemption.
Designated Holder of Fortune Path Limited [Member]
Equity (Textual)
Common stock, issued									100,000
Offering price									$ 3.12
Consulting and Media Amplification Agreement [Member]
Equity (Textual)
Agreement, description	Pursuant to which the Company agreed to pay up to$300 in cash and issue 112,500 ordinary shares of the Company for the performance of certain services by Consortium for the Company. Consortium has received $180 in cash and the full 112,500 Shares for services rendered pursuant to the Consulting Agreement. The Company issued to Consortium another 20,000 ordinary shares on October 16, 2020 for settlement payment.
IPO [Member]
Equity (Textual)
Warrant description								Pursuant to the Initial Public Offering, TKK sold 25,000,000 Units at a purchase price of $10.00 per Unit, inclusive of 3,000,000 Units sold to the underwriters on August 22, 2018 upon the underwriters' election to partially exercise their over-allotment option. Each Unit consists of one ordinary share, one warrant ("Public Warrant") and one right ("Public Right"). Each Public Warrant entitles the holder to purchase one-half of one ordinary share at an exercise price of $11.50 per whole share. Each Public Right entitles the holder to receive one-tenth of one ordinary share at the closing of a Business Combination.
Private Placement [Member]
Equity (Textual)
Offering price								$ 0.50
Issued for service per share					$ 0.50			$ 0.50
Issuance of private placement								$ 5,900
Exercise price								$ 0.50
Purchase of warrants								11,800,000
Advertising [Member]
Equity (Textual)
Shares issued for services			125,000
Issued for service per share			$ 2.45
Yijincheng [Member]
Equity (Textual)
Shares issued for services			200,000
Issued for service per share			$ 2.45
Xingxian Li [Member]
Equity (Textual)
Common stock, issued									100,000
EarlyBirdCapital [Member]
Equity (Textual)
Cash fees								$ 8,750
Percentage of transaction value								1.00%
Description of fee amendment				Under the Fee Amendment, EarlyBirdCapital agreed to reduce its fee of $8,750 due under the Original Agreement and forgo reimbursement of expenses in exchange for a convertible promissory note in the amount of $4,000 without interest ("EBC Note"). The EBC Note is for a period of one year and is convertible, at EarlyBirdCapital's option, into the Company's ordinary shares at the conversion price equal to the volume-weighted average price of the Company's ordinary shares on Nasdaq or such other securities exchange or securities market on which the Company's ordinary shares are then listed or quoted, for the ten trading days prior to such conversion date; provided, however, the conversion price shall not be less than $5.00 (the "Floor Price").
Horgos [Member]
Equity (Textual)
Non-controlling interest rate								49.00%
Glary Wisdom [Member]
Equity (Textual)
Non-controlling interest rate								49.00%

Private Placement Warrants (R_3

Private Placement Warrants (Restated) (Details) - Warrant Liability (Restated) [Member] $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)
Estimated fair value at December 31, 2019
Warrant liability assumed from the Business Combination	20,547
Change in estimated fair value	(19,714)
Estimated fair value at December 31, 2020	$ 833

Private Placement Warrants (R_4

Private Placement Warrants (Restated) (Details 1) - $ / shares	1 Months Ended	12 Months Ended
	Feb. 14, 2020	Dec. 31, 2020
Private Placement Warrants (Restated) [Abstract]
Stock price	$ 10	$ 2.75
Exercise price	$ 11.50	$ 11.50
Risk-free interest rate	1.42%	0.28%
Expected term (in years)	5 years	4 years 1 month 13 days
Expected dividend yield
Expected volatility	39.20%	45.50%

Private Placement Warrants (R_5

Private Placement Warrants (Restated) (Details Textual) - Private Placement Warrant [Member] - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	12 Months Ended
	Aug. 22, 2018	Dec. 31, 2020
Private Placement Warrants (Restated) (Textual)
Aggregate of purchase shares		11,800,000
Warrants per share price	$ 0.50	$ 0.50
Aggregate purchase price amount		$ 5,900
Additional sale of shares	1,200,000
Generating gross proceeds	$ 600
Exercise price	$ 11.50
Warrants outstanding shares		13,000,000

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020		Dec. 31, 2019
Net revenues:
Cheers App Internet Business	$ 83,573		$ 28,301
Traditional Media Business	40,190		37,476
Total consolidated net revenues	123,763		65,777
Operating income:
Cheers APP Internet Business	24,343		11,548
Traditional Media Business	11,707		15,291
Total segment operating income	36,050		26,839
Unallocated item	(5,381)	[1]
Total consolidated operating income	$ 30,669		$ 26,839
[1]	The unallocated item for the year ended December 31, 2020 presents the share-based compensation for employees, which is not allocated to segments.

Subsequent Events (Details)

Subsequent Events (Details) - Subsequent Event [Member] - USD ($) $ / shares in Units, $ in Thousands	Mar. 04, 2021	Mar. 25, 2021	Mar. 22, 2021	Feb. 22, 2021	Feb. 24, 2021	Feb. 05, 2021
Subsequent Events (Textual)
Underwriting agreement, description				Pursuant to which the Company agreed to issue and sell (i) 3,810,976 ordinary shares of the Company ("Offered Shares"), par value of $0.0001 per share (the "Ordinary Shares") and (ii) warrants (the "Warrants") to purchase an aggregate of 3,810,976 Ordinary Shares (the "Warrant Shares") in an underwritten public offering (the "Offering"). In addition, the Company has granted the Underwriters a 45-day option (the "Over-Allotment Option") to purchase up to an additional 571,646 Ordinary Shares (the "Option Shares") and Warrants to purchase up to 571,646 Ordinary Shares at the public offering price, less underwriting discounts and commissions.
Short term bank loan, description	Repaid the $1,533 of short term bank loan to Xiamen International Bank and borrowed two new bank loans with aggregated amount of $1,533 from Xiamen International Bank for working capital needs, $460 of which bears a fix interest rate of 5.5% with due date on September 28, 2021 and $1,073 of which bears a fixed interest rate of 6.0% with maturity date on September 3, 2021.		Repaid the $1,533 of short term bank loan to China Merchants Bank and borrowed a new bank loan of $1,533 from China Merchants Bank for working capital needs, which bears a fixed interest rate of 4.5% with maturity date on March 21, 2022.
Net proceeds		$ 1,744
Warrant [Member]
Subsequent Events (Textual)
Price per share		$ 3.28			$ 4.10
Aggregate shares issue		571,646			190,549
IPO [Member]
Subsequent Events (Textual)
Price per share					$ 3.28
Over-Allotment Option [Member]
Subsequent Events (Textual)
Price per share		$ 3.28
Aggregate shares issue		571,646			219,131
Offered shares sold					5.00%
Wisdom [Member]
Subsequent Events (Textual)
Ownership percentage						51.00%
Mr. Feng Zhao [Member]
Subsequent Events (Textual)
Ownership percentage						49.00%

Quarterly Financial Data (Una_3

Quarterly Financial Data (Unaudited) (Restated) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended				6 Months Ended		12 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2020	Dec. 31, 2019
Revenues							$ 123,763	$ 65,777
Operating expenses:
Cost of revenues							(38,481)	(31,901)
Selling and marketing							(43,827)	(3,154)
General and administrative							(10,095)	(3,134)
Research and development							(691)	(749)
Total operating expenses							(93,094)	(38,938)
Income from operations							30,669	26,839
Other (expenses) income:
Interest expense, net							(282)	(295)
Total other (expenses) income							19,963	(245)
Income before income tax							50,632	26,594
Income tax (expense) benefit							(1,673)	(191)
Less: net loss attributable to non-controlling interests							(31)	80
Net income attributable to Glory Star New Media Group Holdings Limited’s shareholders							48,990	26,323
Other comprehensive income (loss)
Unrealized foreign currency translation gain (loss)							6,495	(974)
Comprehensive income							55,454	25,429
Less: comprehensive loss attributable to non-controlling interests							(4)	74
Comprehensive income attributable to Glory Star New Media Group Holdings Limited’s shareholders							$ 55,458	$ 25,355
Earnings per ordinary share
Basic							$ 0.91	$ 0.64
Weighted average shares used in calculating earnings per ordinary share
Basic							53,844,237	41,204,025
Earnings per ordinary share
Dilutive							$ 0.83	$ 0.57
Weighted average shares used in calculating earnings per ordinary share
Dilutive							59,126,237	46,484,025
Quarterly Financial Data [Member]
Revenues	$ 19,651	$ 9,757	$ 18,494	$ 13,753	$ 29,408	$ 32,246
Operating expenses:
Cost of revenues	(5,392)	(4,991)	(10,080)	(8,212)	(10,383)	(18,292)
Selling and marketing	(1,775)	(379)	(456)	(259)	(2,153)	(716)
General and administrative	(3,783)	(1,287)	(1,147)	(639)	(5,070)	(1,786)
Research and development	(130)	(206)	(251)	(197)	(336)	(448)
Total operating expenses	(11,080)	(6,863)	(11,934)	(9,307)	(17,942)	(21,242)
Income from operations	8,571	2,894	6,560	4,446	11,466	11,004
Other (expenses) income:
Interest expense, net	(82)	(87)	(82)	(135)	(169)	(218)
Change in fair value of warrant liability	95	18,117			18,213
Other (expenses) income, net	92	30	(3)	(5)	123	(8)
Total other (expenses) income	105	18,060	(85)	(140)	18,167	(226)
Income before income tax	8,676	20,954	6,475	4,306	29,633	10,778
Income tax (expense) benefit	459	5	64	(172)	464	(107)
Net income	9,135	20,959	6,539	4,134	30,097	10,671
Less: net loss attributable to non-controlling interests	(36)	(59)	(65)	(9)	(94)	(74)
Net income attributable to Glory Star New Media Group Holdings Limited’s shareholders	9,171	21,018	6,604	4,143	30,191	10,745
Other comprehensive income (loss)
Unrealized foreign currency translation gain (loss)	108	(1,087)	(765)	577	(979)	(188)
Comprehensive income	9,243	19,872	5,774	4,711	29,118	10,483
Less: comprehensive loss attributable to non-controlling interests	(35)	(67)	(70)		(102)	(69)
Comprehensive income attributable to Glory Star New Media Group Holdings Limited’s shareholders	$ 9,278	$ 19,939	$ 5,844	$ 4,711	$ 29,220	$ 10,552
Earnings per ordinary share
Basic	$ 0.17	$ 0.46	$ 0.16	$ 0.1	$ 0.6	$ 0.26
Weighted average shares used in calculating earnings per ordinary share
Basic	54,749,415	45,504,828	41,204,025	41,204,025	50,127,122	41,204,025
Earnings per ordinary share
Dilutive	$ 0.16	$ 0.41	$ 0.14	$ 0.09	$ 0.59	$ 0.23
Weighted average shares used in calculating earnings per ordinary share
Dilutive	56,074,415	50,784,828	46,484,025	46,484,025	51,452,122	46,484,025
As previously reported [Member]
Revenues	$ 19,651	$ 9,757			$ 29,408
Operating expenses:
Cost of revenues	(5,392)	(4,991)			(10,383)
Selling and marketing	(1,775)	(379)			(2,153)
General and administrative	(3,783)	(1,287)			(5,070)
Research and development	(130)	(206)			(336)
Total operating expenses	(11,080)	(6,863)			(17,942)
Income from operations		2,894			11,466
Other (expenses) income:
Interest expense, net	(82)	(87)			(169)
Change in fair value of warrant liability
Other (expenses) income, net	92	30			123
Total other (expenses) income	10	(57)			(46)
Income before income tax	8,581	2,837			11,420		$ 30,918
Income tax (expense) benefit	459	5			464
Net income	9,040	2,842			11,884
Less: net loss attributable to non-controlling interests	(36)	(59)			(94)
Net income attributable to Glory Star New Media Group Holdings Limited’s shareholders	9,076	2,901			11,978		29,276
Other comprehensive income (loss)
Unrealized foreign currency translation gain (loss)	108	(1,087)			(979)
Comprehensive income	9,148	1,755			10,905		35,740
Less: comprehensive loss attributable to non-controlling interests	(35)	(67)			(102)
Comprehensive income attributable to Glory Star New Media Group Holdings Limited’s shareholders	$ 9,183	$ 1,822			$ 11,007		$ 35,744
Earnings per ordinary share
Basic	$ 0.17	$ 0.06			$ 0.24		$ 0.54
Weighted average shares used in calculating earnings per ordinary share
Basic	54,749,415	45,504,828			50,127,122
Earnings per ordinary share
Dilutive	$ 0.16	$ 0.06			$ 0.23		$ 0.5
Weighted average shares used in calculating earnings per ordinary share
Dilutive	56,074,415	50,784,828			51,452,122
Restatement Impacts [Member]
Revenues
Operating expenses:
Cost of revenues
Selling and marketing
General and administrative
Research and development
Total operating expenses
Income from operations
Other (expenses) income:
Interest expense, net
Change in fair value of warrant liability	95	18,117			18,213
Other (expenses) income, net
Total other (expenses) income	95	18,117			18,213
Income before income tax	95	18,117			18,213		$ 19,714
Income tax (expense) benefit
Net income	95	18,117			18,213
Less: net loss attributable to non-controlling interests
Net income attributable to Glory Star New Media Group Holdings Limited’s shareholders	95	18,117			18,213		19,714
Other comprehensive income (loss)
Unrealized foreign currency translation gain (loss)
Comprehensive income	95	18,117			18,213		19,714
Less: comprehensive loss attributable to non-controlling interests
Comprehensive income attributable to Glory Star New Media Group Holdings Limited’s shareholders	$ 95	$ 18,117			$ 18,213		$ 19,714
Earnings per ordinary share
Basic		$ 0.40			$ 0.36		$ 0.37
Weighted average shares used in calculating earnings per ordinary share
Basic
Earnings per ordinary share
Dilutive		$ 0.35			$ 0.36		$ 0.33
Weighted average shares used in calculating earnings per ordinary share
Dilutive
As Restated [Member]
Revenues	$ 19,651	$ 9,757			$ 29,408
Operating expenses:
Cost of revenues	(5,392)	(4,991)			(10,383)
Selling and marketing	(1,775)	(379)			(2,153)
General and administrative	(3,783)	(1,287)			(5,070)
Research and development	(130)	(206)			(336)
Total operating expenses	(11,080)	(6,863)			(17,942)
Income from operations		2,894			11,466
Other (expenses) income:
Interest expense, net	(82)	(87)			(169)
Change in fair value of warrant liability	95	18,117			18,213
Other (expenses) income, net	92	30			123
Total other (expenses) income	105	18,060			18,167
Income before income tax	8,676	20,954			29,633		$ 50,632
Income tax (expense) benefit	459	5			464
Net income	9,135	20,959			30,097
Less: net loss attributable to non-controlling interests	(36)	(59)			(94)
Net income attributable to Glory Star New Media Group Holdings Limited’s shareholders	9,171	21,018			30,191		48,990
Other comprehensive income (loss)
Unrealized foreign currency translation gain (loss)	108	(1,087)			(979)
Comprehensive income	9,243	19,872			29,118		55,454
Less: comprehensive loss attributable to non-controlling interests	(35)	(67)			(102)
Comprehensive income attributable to Glory Star New Media Group Holdings Limited’s shareholders	$ 9,278	$ 19,939			$ 29,220		$ 55,458
Earnings per ordinary share
Basic	$ 0.17	$ 0.46			$ 0.6		$ 0.91
Weighted average shares used in calculating earnings per ordinary share
Basic	54,749,415	45,504,828			50,127,122
Earnings per ordinary share
Dilutive	$ 0.16	$ 0.41			$ 0.59		$ 0.83
Weighted average shares used in calculating earnings per ordinary share
Dilutive	56,074,415	50,784,828			51,452,122

Quarterly Financial Data (Una_4

Quarterly Financial Data (Unaudited) (Restated) (Details 1) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended	12 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2020	Dec. 31, 2020	Dec. 31, 2019
Change in fair value of warrant liability				$ 19,714
Total other (expenses) income				19,963	(245)
Income before income tax				50,632	26,594
Net income				48,959	26,403
Net income attributable to Glory Star New Media Group Holdings Limited’s shareholders				48,990	26,323
Comprehensive income				55,454	25,429
Comprehensive income attributable to Glory Star New Media Group Holdings Limited’s shareholders				$ 55,458	$ 25,355
Earnings per ordinary share
Basic				$ 0.91	$ 0.64
Dilutive				$ 0.83	$ 0.57
As previously reported [Member]
Change in fair value of warrant liability
Total other (expenses) income	10	(57)	(46)
Income before income tax	8,581	2,837	11,420	30,918
Net income	9,040	2,841	11,884	29,245
Net income attributable to Glory Star New Media Group Holdings Limited’s shareholders	9,076	2,901	11,978	29,276
Comprehensive income	9,148	1,755	10,905	35,740
Comprehensive income attributable to Glory Star New Media Group Holdings Limited’s shareholders	$ 9,183	$ 1,822	$ 11,007	$ 35,744
Earnings per ordinary share
Basic	$ 0.17	$ 0.06	$ 0.24	$ 0.54
Dilutive	$ 0.16	$ 0.06	$ 0.23	$ 0.5
Restatement Impacts [Member]
Change in fair value of warrant liability	$ 95	$ 18,117	$ 18,213	$ 19,714
Total other (expenses) income	95	18,117	18,213
Income before income tax	95	18,117	18,213	19,714
Net income	95	18,117	18,213	19,714
Net income attributable to Glory Star New Media Group Holdings Limited’s shareholders	95	18,117	18,213	19,714
Comprehensive income	95	18,117	18,213	19,714
Comprehensive income attributable to Glory Star New Media Group Holdings Limited’s shareholders	$ 95	$ 18,117	$ 18,213	$ 19,714
Earnings per ordinary share
Basic		$ 0.40	$ 0.36	$ 0.37
Dilutive		$ 0.35	$ 0.36	$ 0.33
As Restated [Member]
Change in fair value of warrant liability	$ 95	$ 18,117	$ 18,213	$ 19,714
Total other (expenses) income	105	18,060	18,167
Income before income tax	8,676	20,954	29,633	50,632
Net income	9,135	20,959	30,097	48,959
Net income attributable to Glory Star New Media Group Holdings Limited’s shareholders	9,171	21,018	30,191	48,990
Comprehensive income	9,243	19,872	29,118	55,454
Comprehensive income attributable to Glory Star New Media Group Holdings Limited’s shareholders	$ 9,278	$ 19,939	$ 29,220	$ 55,458
Earnings per ordinary share
Basic	$ 0.17	$ 0.46	$ 0.6	$ 0.91
Dilutive	$ 0.16	$ 0.41	$ 0.59	$ 0.83

Quarterly Financial Data (Una_5

Quarterly Financial Data (Unaudited) (Restated) (Details 2) - USD ($) $ in Thousands	Dec. 31, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 17,731			$ 6,919
Accounts receivable, net	81,110			51,061
Prepayment and other current assets	2,544			2,499
Total current assets	103,117			60,479
Property and equipment, net	251			331
Intangible assets, net	15,632			14,683
Deferred tax assets	760			533
Unamortized produced content, net	1,300			1,657
Right-of-use assets	1,689			2,027
Total non-current assets	40,279			19,231
TOTAL ASSETS	143,396			79,710
Current liabilities:
Short-term bank loans	5,160			718
Accounts payable	7,887			4,546
Advances from customers	609			610
Accrued liabilities and other payables	11,291			6,134
Other taxes payable	7,894			1,890
Operating lease liabilities -current	385			313
Due to related parties	730			1,525
Convertible promissory note - related party	1,400
Total current liabilities	35,356			15,736
Operating lease liabilities - non-current	1,386			1,718
Warrant liability	833
Total non-current liabilities	3,593			1,718
TOTAL LIABILITIES	38,949			17,454
Commitments and contingences
Shareholders' equity
Preferred shares (par value of $0.0001 per share; 2,000,000 authorized; none issued and outstanding)
Ordinary shares	6			4
Additional paid-in capital	9,159			13,375
Retained earnings	89,271			49,547
Accumulated other comprehensive loss	4,892			(1,576)
TOTAL GLORY STAR NEW MEDIA GROUP HOLDINGS LIMITED SHAREHOLDERS’ EQUITY	104,447			62,256	$ 24,629
Non-controlling interest	471			475
TOTAL EQUITY	103,976			61,781
TOTAL LIABILITIES AND EQUITY	143,396			$ 79,710
As previously reported [Member]
Current assets:
Cash and cash equivalents		$ 9,056	$ 9,961
Accounts receivable, net		59,327	55,003
Prepayment and other current assets		10,203	2,554
Total current assets		78,586	67,518
Property and equipment, net		241	269
Intangible assets, net		14,683	14,051
Deferred tax assets		987	596
Unamortized produced content, net		2,175	1,342
Right-of-use assets		1,596	1,907
Total non-current assets		19,682	18,165
TOTAL ASSETS		98,268	85,683
Current liabilities:
Short-term bank loans		3,680	3,672
Accounts payable		6,731	5,095
Advances from customers		530	498
Accrued liabilities and other payables		5,579	5,569
Other taxes payable		2,103	2,148
Operating lease liabilities -current		296	333
Due to related parties		1,201	1,999
Convertible promissory note - related party		1,400	1,400
Total current liabilities		21,520	20,714
Long-term bank loan		1,274	1,271
Operating lease liabilities - non-current		1,322	1,488
Warrant liability
Total non-current liabilities	2,760	2,596	2,759
TOTAL LIABILITIES	38,116	24,116	23,473
Commitments and contingences
Shareholders' equity
Preferred shares (par value of $0.0001 per share; 2,000,000 authorized; none issued and outstanding)
Ordinary shares		6	5
Additional paid-in capital	20,657	14,365	11,573
Statutory reserve		431	431
Retained earnings	78,606	61,525	52,448
Accumulated other comprehensive loss		(2,548)	(2,655)
TOTAL GLORY STAR NEW MEDIA GROUP HOLDINGS LIMITED SHAREHOLDERS’ EQUITY		73,779	61,802
Non-controlling interest		373	408
TOTAL EQUITY	105,280	74,152	62,210
TOTAL LIABILITIES AND EQUITY	143,396	98,268	85,683
Restatement Impacts [Member]
Current assets:
Cash and cash equivalents
Accounts receivable, net
Prepayment and other current assets
Total current assets
Property and equipment, net
Intangible assets, net
Deferred tax assets
Unamortized produced content, net
Right-of-use assets
Total non-current assets
TOTAL ASSETS
Current liabilities:
Short-term bank loans
Accounts payable
Advances from customers
Accrued liabilities and other payables
Other taxes payable
Operating lease liabilities -current
Due to related parties
Convertible promissory note - related party
Total current liabilities
Long-term bank loan
Operating lease liabilities - non-current
Warrant liability	833	2,333	2,429
Total non-current liabilities	833	2,333	2,429
TOTAL LIABILITIES	833	2,333	2,429
Commitments and contingences
Shareholders' equity
Preferred shares (par value of $0.0001 per share; 2,000,000 authorized; none issued and outstanding)
Ordinary shares
Additional paid-in capital	(11,498)	(11,498)	(11,498)
Statutory reserve
Retained earnings	10,665	9,165	9,069
Accumulated other comprehensive loss
TOTAL GLORY STAR NEW MEDIA GROUP HOLDINGS LIMITED SHAREHOLDERS’ EQUITY		(2,333)	(2,429)
Non-controlling interest
TOTAL EQUITY	(833)	(2,333)	(2,429)
TOTAL LIABILITIES AND EQUITY
As Restated [Member]
Current assets:
Cash and cash equivalents		9,056	9,961
Accounts receivable, net		59,327	55,003
Prepayment and other current assets		10,203	2,554
Total current assets		78,586	67,518
Property and equipment, net		241	269
Intangible assets, net		14,683	14,051
Deferred tax assets		987	596
Unamortized produced content, net		2,175	1,342
Right-of-use assets		1,596	1,907
Total non-current assets		19,682	18,165
TOTAL ASSETS		98,268	85,683
Current liabilities:
Short-term bank loans		3,680	3,672
Accounts payable		6,731	5,095
Advances from customers		530	498
Accrued liabilities and other payables		5,579	5,569
Other taxes payable		2,103	2,148
Operating lease liabilities -current		296	333
Due to related parties		1,201	1,999
Convertible promissory note - related party		1,400	1,400
Total current liabilities		21,520	20,714
Long-term bank loan		1,274	1,271
Operating lease liabilities - non-current		1,322	1,488
Warrant liability	833	2,333	2,429
Total non-current liabilities	3,593	4,929	5,188
TOTAL LIABILITIES	38,949	26,449	25,902
Commitments and contingences
Shareholders' equity
Preferred shares (par value of $0.0001 per share; 2,000,000 authorized; none issued and outstanding)
Ordinary shares		6	5
Additional paid-in capital	9,159	2,867	75
Statutory reserve		431	431
Retained earnings	89,271	70,690	61,517
Accumulated other comprehensive loss		(2,548)	(2,655)
TOTAL GLORY STAR NEW MEDIA GROUP HOLDINGS LIMITED SHAREHOLDERS’ EQUITY		71,446	59,373
Non-controlling interest		373	408
TOTAL EQUITY	104,447	71,819	59,781
TOTAL LIABILITIES AND EQUITY	$ 143,396	$ 98,268	$ 85,683

Quarterly Financial Data (Resta

Quarterly Financial Data (Restated) (Details 2) (Parenthetical) - $ / shares	Dec. 31, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019
Preferred shares, par value	$ 0.0001			$ 0.0001
Preferred shares, authorized	2,000,000			2,000,000
Preferred shares, issued
Preferred shares, outstanding
Ordinary shares, par value	$ 0.0001			$ 0.0001
Ordinary shares, authorized	200,000,000			200,000,000
Ordinary shares, issued	57,886,352			41,204,025
Ordinary shares, outstanding	57,886,352			41,204,025
As Restated [Member]
Preferred shares, par value		$ 0.0001	$ 0.0001	$ 0.0001
Preferred shares, authorized		2,000,000	2,000,000	2,000,000
Preferred shares, issued
Preferred shares, outstanding
Ordinary shares, par value		$ 0.0001	$ 0.0001	$ 0.0001
Ordinary shares, authorized		200,000,000	200,000,000	200,000,000
Ordinary shares, issued		56,011,366	50,898,866	41,204,025
Ordinary shares, outstanding		56,011,366	50,898,866	41,204,025

Quarterly Financial Data (Una_6

Quarterly Financial Data (Unaudited) (Restated) (Details 3) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended	12 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2020	Dec. 31, 2020	Dec. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income				$ 48,959	$ 26,403
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
(Reversal of allowance) allowance for doubtful accounts				(1,136)	188
Depreciation and amortization				2,910	739
Amortization of right-of-use assets				447	314
Deferred income tax expense (benefit)				(181)	190
Share base compensation				7,160
Change in fair value of warrant liability				(19,714)
Changes in assets and liabilities
Accounts receivable				(24,043)	(12,705)
Prepayment and other current assets				(19,340)	4,549
Unamortized produced content				442	1,261
Accounts payable				2,827	3,925
Accrued liabilities and other payables				5,177	449
Other taxes payable				5,555	717
Net cash provided by (used in) operating activities				8,741	26,092
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property and equipment				(59)	(7)
Prepayments for acquisition of intangible assets				(2,722)	(15,311)
Net cash used in investing activities				(4,418)	(15,318)
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayments of bank loans				(724)
Proceeds from a third party					3,185
Cash acquired from the acquisition of TKK				23
Net cash (used in) provided by financing activities				5,381	(6,224)
Effect of exchange rate changes				1,108	(68)
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Interests paid				239	287
Right of use assets obtained in exchange for operating lease obligations					2,339
As previously reported [Member]
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 9,040	$ 2,841	$ 11,884	29,245
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
(Reversal of allowance) allowance for doubtful accounts		381
Depreciation and amortization		448
Amortization of right-of-use assets		87
Deferred income tax expense (benefit)		(73)
Share base compensation		75
Change in fair value of warrant liability
Changes in assets and liabilities
Accounts receivable		(5,253)
Prepayment and other current assets		(49)
Unamortized produced content		291
Accounts payable		591
Advances from customers		(104)
Accrued liabilities and other payables		(469)
Other taxes payable		295
Operating lease liabilities		(179)
Net cash provided by (used in) operating activities		(1,118)	(1,006)	8,741
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property and equipment
Prepayments for acquisition of intangible assets
Net cash used in investing activities			(994)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from bank loans		4,299
Repayments of bank loans
Proceeds from a third party
Cash acquired from the acquisition of TKK		23
Net cash (used in) provided by financing activities		4,322	4,322
Effect of exchange rate changes		(162)	(185)
Net (decrease) increase in cash, cash equivalents and restricted cash		3,042	2,137
Cash, cash equivalents and restricted cash, at beginning of period	9,961	6,919	6,919	6,919
Cash, cash equivalents and restricted cash, at end of period	9,056	9,961	9,056		6,919
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Interests paid		24
Right of use assets obtained in exchange for operating lease obligations
Restatement Impacts [Member]
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	95	18,117	18,213	19,714
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
(Reversal of allowance) allowance for doubtful accounts
Depreciation and amortization
Amortization of right-of-use assets
Deferred income tax expense (benefit)
Share base compensation
Change in fair value of warrant liability	(95)	(18,117)	(18,213)	(19,714)
Changes in assets and liabilities
Accounts receivable
Prepayment and other current assets
Unamortized produced content
Accounts payable
Advances from customers
Accrued liabilities and other payables
Other taxes payable
Operating lease liabilities
Net cash provided by (used in) operating activities
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property and equipment
Prepayments for acquisition of intangible assets
Net cash used in investing activities
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from bank loans
Repayments of bank loans
Proceeds from a third party
Cash acquired from the acquisition of TKK
Net cash (used in) provided by financing activities
Effect of exchange rate changes
Net (decrease) increase in cash, cash equivalents and restricted cash
Cash, cash equivalents and restricted cash, at beginning of period
Cash, cash equivalents and restricted cash, at end of period
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Interests paid
Right of use assets obtained in exchange for operating lease obligations
As Restated [Member]
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	9,135	20,959	30,097	48,959
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
(Reversal of allowance) allowance for doubtful accounts		381
Depreciation and amortization		448
Amortization of right-of-use assets		87
Deferred income tax expense (benefit)		(73)
Share base compensation		75
Change in fair value of warrant liability	(95)	(18,117)	(18,213)	(19,714)
Changes in assets and liabilities
Accounts receivable		(5,253)
Prepayment and other current assets		(49)
Unamortized produced content		291
Accounts payable		591
Advances from customers		(104)
Accrued liabilities and other payables		(469)
Other taxes payable		295
Operating lease liabilities		(179)
Net cash provided by (used in) operating activities		(1,118)	(1,006)	8,741
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property and equipment
Prepayments for acquisition of intangible assets
Net cash used in investing activities			(994)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from bank loans		4,299
Repayments of bank loans
Proceeds from a third party
Cash acquired from the acquisition of TKK		23
Net cash (used in) provided by financing activities		4,322	4,322
Effect of exchange rate changes		(162)	(185)
Net (decrease) increase in cash, cash equivalents and restricted cash		3,042	2,137
Cash, cash equivalents and restricted cash, at beginning of period	9,961	6,919	6,919	$ 6,919
Cash, cash equivalents and restricted cash, at end of period	$ 9,056	9,961	$ 9,056		$ 6,919
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Interests paid		24
Right of use assets obtained in exchange for operating lease obligations