BEIJING, June 18, 2024 (GLOBE NEWSWIRE) — Cheer Holding, Inc. (NASDAQ: CHR) (“Cheer Holding,” or the “Company”), a leading provider of advanced mobile internet infrastructure and platform services, announced today that as of June 15, the total number of online view counts of topics including # Mystical Realm of Mountains and Seas and # CHEERS Telepathy on social media platforms, including TikTok, Kuaishou, Red, Tencent Video, iXigua and Weibo has exceeded 11 million, creating heated discussions among audiences since the first release on June 5, 2024.

Inspired by magnificent and imaginative ancient Chinese masterpiece, The Classic of Mountains and Seas. The first season has five episodes: The Tree of the Evil Spirit, The Beginning of the World in Chaos, Taoyuan Estate, The Birth of the Evil God, and The Door to Another Dimension. The story starts from Yue Niu and Yue Tu sealing the chaos together with animal tribes, restoring the peace of the mountains and seas.

Mystical Realm of Mountains and Seas is a complete work of the series of animations created based on the text-to-video technology, which is supported by the independent AIGC technology of Cheer Holding. The comprehensive use of the latest technological achievements such as controllable image generation, dynamic generation and text-to-video technology makes all links of the work creation possible, from art design to dynamic effect generation and then to the finalization of the animation miniseries, which traditionally the production would take at least 5 months. However, CHEERS Telepathy made it possible to finish the whole work in only 3 weeks, thanks to the large model of Polaris Intelligent Cloud.

The heated discussion on the five episodes of Mystical Realm of Mountains and Seas Season 1 demonstrates the great cultural charm of one of the three Chinese masterpieces of the Ancient Era. As the first among the AIGC series of text-to-video animations completed solely relying on the CHEERS Telepathy, this animation is a successful business application of the Company’s AI technology to film and television production.

With CHEERS Telepathy continues to make major breakthroughs in its underlying technology and its application greatly expanding, the Company will accelerate the commercialization of the technology in the market and further promote its application in business sectors including film and television, animation, and advertisement.

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 LLC

Connie Kang, Partner

Email: [email protected]

Tel: +86 1381 185 7742 (CN)

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