BEIJING, Dec. 03, 2024 — Cheer Holding, Inc. (NASDAQ: CHR), a leading provider of advanced mobile internet infrastructure and platform services, today announced a board-authorized $50 million share repurchase program for its Class A ordinary shares over the next three years.

The Company may repurchase shares through open market or private transactions, adhering to rules and regulations, including Rule 10b-18 and Rule 10b5-1 of the Securities Exchange Act of 1934, to facilitate repurchases during self-imposed trading restrictions. Repurchase timing, amount, and method will depend on market conditions, share price, legal considerations, and other factors. The Board retains the right to modify or end the program at any time. There’s no guarantee of any share repurchases.

About Cheer Holding, Inc.

Cheer Holding is a prominent Chinese provider of next-generation mobile internet infrastructure and platform services. It aims to create a digital ecosystem integrating platforms, applications, technology, and industry, fostering a new web3.0 environment using AI. The Company is developing a 5G+VR+AR+AI shared universe utilizing blockchain, cloud computing, extended reality, and digital twin technologies.

Cheer Holding offers diverse products and services, including CHEERS Telepathy, CHEERS Video, CHEERS e-Mall, CHEERS Open Data, CheerReal, CheerCar, CheerChat, Polaris Intelligent Cloud, AI-animated short dramas, short video matrices, variety show series, and livestreaming. These offerings blend online/offline and virtual/reality elements.

With “CHEERS+” as its core digital ecosystem, Cheer Holding is committed to sustainable and scalable growth through innovative product applications and technologies.

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Safe Harbor Statement

This release contains forward-looking statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Words like “estimates,” “projected,” “expects,” and similar expressions identify these statements, which are not guarantees of future performance. Actual results may differ materially due to various factors, including growth management, successful acquisitions, securing financing, economic conditions, profitability impacts, litigation, regulatory changes, pandemics, and other risks detailed in the Company’s SEC filings, including its Form 20-F filed March 14, 2024. The Company disclaims any obligation to update these forward-looking statements, except as required by law.

For investor and media inquiries, please contact:

Wealth Financial Services LLC
Connie Kang, Partner
Email:
Tel: +86 1381 185 7742 (CN)