Cheer Holding Subsidiary Recognized as Innovative SME by Beijing Municipal Government

BEIJING, April 23, 2024 (GLOBE NEWSWIRE) -- Cheer Holding, Inc. (NASDAQ: CHR) ("Cheer Holding," or the "Company"), a leading provider of advanced mobile internet infrastructure and platform services, today announced that its subsidiary Glory Star (Beijing) Media Co., Ltd. (“Cheer Media”)has been recognized as an Innovative Small and Medium Enterprise (SME) by the Beijing Municipal Bureau of Economy and Information Technology.

Innovative SMEs are enterprises that are technology and innovation-driven, with proprietary core technologies and well-established brands, wielding significant influence within their respective industry segments. These are high-caliber SMEs that have developed sustainable innovation capabilities across technology, services, branding, systems, organization, management and culture, exhibiting hallmarks of specialized expertise, robust market competitiveness and growth potential. They epitomize the new era of productive forces, powered by innovation and departing from traditional economic growth models and developmeiint paths, characterized by advanced technology, high efficiency and superior quality, fully aligned with the new development philosophy.

Cheer Media will further fortify its new productive capabilities, leveraging national industry policies to continuously aggregate premium lifestyle ecosystems and drive innovative platform-based entertainment cluster development.

Leveraging its formidable content dissemination prowess, traffic aggregation effects, and multi-platform resource advantages, Cheer Holding is also poised to achieve higher-quality growth.

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.