Why Is This Chinese E-Commerce Company's Shares Trading Higher Today?

Chinese digital media platform and content-driven e-commerce company Glory Star New Media Group Holdings Ltd GSMG won the license and permit to operate a cross-border e-commerce business.
The company won approval from the Ministry of Commerce of the People's Republic of China to engage in foreign trade operations.
Additionally, the General Administration of Customs of the People's Republic of China permitted the company to be a consignee of imported goods and consignor of exported goods.
Glory Star plans to utilize its new business license and permit to develop a new cross-border e-commerce business and expand further and promote its CHEERS e-Mall platform services to importers, exporters, and companies outside of China.
Meanwhile, other e-commerce majors like Alibaba Group Holding Ltd BABA, JD.com Inc JD, and Baidu Inc BIDU shares are getting hammered by China's regulatory crackdown.
Price Action: GSMG shares traded higher by 9.13% at $2.63 in the premarket session on the last check Monday.