GSMGW Cheer Holding Inc

Cheer Holding, Inc. (NASDAQ: CHR) ("Cheer Holding," or the "Company"), a leading provider of advanced mobile internet infrastructure and platform services, as one of the important participants and promoters for the development of digital economy and one of the representatives of small and medium-sized enterprises (SMEs) in the aspects of innovation and development, the Company was invited to attend the SME Innovation and Development Forum of the Global Digital Economy Conference 2024 held at the China National Convention Center in Beijing. The conference, under the theme of “Opening Up a New Era of Digital Intelligence and Sharing a New Digital Future”, gathers scientific and technological innovation enterprises, industry pioneers, and innovation practitioners from around the world to jointly explore and shape the future of digital economy.

Innovation-driven development

Amid the global trend of digitalization, scientific and technological innovation has served as a pivotal catalyst for propelling economic growth and fostering social advancement. The digital economy is emerging at an unprecedented speed and becoming a new impetus for economic recovery and growth. Since its establishment, Cheer Holding has always been committed to technological innovation and product research and development, and has made remarkable achievements in the realms of Internet applications, AI, big data analysis, blockchain, and web3.0. At this forum, Cheer Holding showcased its latest achievements and solutions in AIGC, which covers advanced and complex algorithms and models, strong application capabilities, and more comprehensive new AI interaction functions. Through the application of these innovative technologies, Cheer Holding aspires to make breakthroughs in underlying technologies, thus contributing to the development of digital economy for related industries.

Win-win cooperation

The SME Innovation and Development Forum is undoubtedly one of the most highly anticipated parts in this year’s Global Digital Economy Conference. SMEs play a crucial role in driving economic growth and social development, yet they are confronted with numerous challenges. The SME Innovation and Development Forum aims to provide a platform for communication and cooperation among global SMEs, facilitating resource sharing and technology exchange. Cheer Holding is well aware that in the fiercely competitive market environment today, the attainment of mutually beneficial outcomes can only be realized through embracing open collaboration. During the forum, Cheer Holding engaged in in-depth discussions with participants from around the world, and established a comprehensive cooperation mechanism by sharing technologies and experiences, so as to promote the application of technologies in related industries such as cultural media, film and television production, advertising, e-commerce, and new retail. Only cooperation can truly drive scientific and technological progress and thriving development of industries.

Continuous R&D investment

As one of the national high-tech and SRDI (specialization, refinement, differentiation, innovation) enterprises with technological innovation and technology-driven mode as the core, Cheer Holding has always insisted on R&D investment and achieved significant breakthroughs in multiple key technical fields, obtaining multiple national invention patents and intellectual property rights. Focusing on the forefront of science and technology, Cheer Holding will continue to increase its R&D investment, make technological progress and maintain advantages in more AI fields, including AIGC. Meanwhile, the Company will also actively participate in various scientific and technological exchange activities at home and abroad, to learn from advanced experiences and continuously enhance its innovation capabilities.

Epilogue

The Global Digital Economy Conference 2024, as one of the foremost events in science and technology, brings together global wisdom and seeks future common development. Taking the attendance at the SME Innovation and Development Forum as an opportunity, Cheer Holding will further consolidate its leading position in the industry and develop together with its partners by presenting its technical strength and development achievements.

About Cheer Holding, Inc.

As a preeminent provider of next-generation mobile internet infrastructure and platform services in China, Cheer Holding is dedicated to building a digital ecosystem that integrates “platforms, applications, technology, and industry” into a cohesive system, thereby creating a new, open business environment for web3.0 that leverages AI technology. The Company is developing a 5G+VR+AR+AI shared universe space that builds on cutting-edge technologies including blockchain, cloud computing, extended reality, and digital twin.

Cheer Holding’s portfolio includes a wide range of products and services, such as Polaris Intelligent Cloud, CHEERS Telepathy, CHEERS Open Data Platform, CHEERS Video, CHEERS e-Mall, CheerReal, CheerCar, CheerChat, CHEERS Fresh Group-Buying E-commerce Platform, Digital Innovation Research Institute, CHEERS Livestreaming, variety show series, IP short video matrix, and more. These offerings provide diverse application scenarios that seamlessly blend “online/offline” and “virtual/reality” elements.

With “CHEERS+” at the core of Cheer Holding’s ecosystem, the Company is committed to consolidating and strengthening its core competitiveness, and achieving long-term sustainable and scalable growth.

For more information, please visit http://ir.gsmg.co/.

Safe Harbor Statement

Certain statements made in this release are “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, are: the ability to manage growth; ability to identify and integrate other future acquisitions; ability to obtain additional financing in the future to fund capital expenditures; fluctuations in general economic and business conditions; costs or other factors adversely affecting our profitability; litigation involving patents, intellectual property, and other matters; potential changes in the legislative and regulatory environment; a pandemic or epidemic; the occurrence of any event, change or other circumstances that could affect the Company’s ability to continue successful development and launch of its metaverse experience centers; the possibility that the Company may not succeed in developing its new lines of businesses due to, among other things, changes in the business environment and technological developments, competition, changes in regulation, or other economic and policy factors; disruptions or other business interruptions that may affect the operations of our products and services, the possibility that the Company’s new lines of business may be adversely affected by other economic, business, and/or competitive factors; other factors, risks and uncertainties set forth in documents filed by the Company with the Securities and Exchange Commission from time to time, including the Company’s latest Annual Report on Form 20-F filed with the SEC on March 22, 2023, as amended. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. Such information speaks only as of the date of this release.

For investor and media inquiries, please contact:

Wealth Financial Services LLCConnie Kang, PartnerEmail: ckang@wealthfsllc.comTel: +86 1381 185 7742 (CN)