Company Announcements

BEIJING, Sept. 03, 2024 (GLOBE NEWSWIRE) -- Cheer Holding, Inc. (NASDAQ: CHR) (“Cheer” or the “Company”), a leading provider of advanced mobile internet infrastructure and platform services, announced today the release of the AI-based series themed on Liaozhai Tales, a collection of classical short stories written by Pu Songling in the early Qing dynasty of China. Episodes including “Adventure of Abao”, “Legend of Nie Xiaoqian”, “The Taoist Priest of Laoshan” and “The Mystery of Raksasas” are now available on platforms such as Tik Tok, Tencent Video, Little Red Book, Kuaishou, and Weibo, with one new episode released every Sunday and Friday. You may also find the latest updates via the Liaozhaizhiyi channel at http://www.gsmg.co/AI-Show/liaozhaizhiyi.

With the major breakthroughs acheived in the underlying technology of the Company’s self-developed large model Polaris Intelligent Cloud, both its algorithm and model are becoming more advanced. Together with the wide application possibilities of the multimodal CHEERS Telepathy, the Company is further deepening the integration of AGI technology and the film & television and culture industry at the application level. The release of the Al-based classic Liaozhai Tales series not only shows the tribute that AI technology pays to traditional culture, but also marks the Company's commitment of the endeavor to inherit and innovate traditional Chinese literature using AIGC technology, an advanced generative AI technology.

Relying on advanced AI technology and application, CHEERS Telepathy reproduced and presented on the screen the secret world and mysterious stories by Pu Songling, providing audiences with an innovative work of Cheer Holding on traditional Chinese culture. This series of AI short videos not only retained the charm and essence of the original story, but also took in the expression techniques of modern aesthetics. On the basis of the original story, the series added exquisite pictures and vivid characterization, winning over the young audiences and making this classical Chinese novel full of new charm. In addition to meeting the market demand of young users for diversified content, the Company also provided new application scenarios and development directions for the industry, and injected new vitality into the cultural industry.

In the new media field, Cheer Holding is the first media technology company in China to continuously provide AI animated series to the mass content consumer market with its self-developed large model Polaris Intelligent Cloud and the multi-modal platform CHEERS Telepathy. The unique and innovative short videos provide a new operation model and business opportunities for the market.

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 digital eco-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 AI-powered content creation platform CHEERS Telepathy, CHEERS Lifestyle, CHEERS e-Mall, Yaoshi TTX, CheerReal, CHEERS Open Data Platform, CheerCar, CheerChat, CHEERS Fresh Group-Buying E-commerce Platform, Polaris Intelligent Cloud, Digital Innovation Research Institute, AI-animated short drama series, CHEERS video matrix, IP short video matrix, variety show series, CHEERS Livestreaming, 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 digital ecosystem, the Company is committed to utilizing innovative product applications and technologies to drive its 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: ckang@wealthfsllc.com
Tel: +86 1381 185 7742 (CN)