CHEERS Video Announces Product Upgrade and Rebrands as CHEERS Lifestyle Architect

BEIJING, Dec. 19, 2023 /PRNewswire/ -- Cheer Holding, Inc. (NASDAQ: CHR) ("Cheer Holding" or the "Company"), a leading provider of next-generation mobile internet infrastructure and platform services, is pleased to announce today a comprehensive upgrade to its CHEERS Video platform (the "platform"), which is now designated for discerning users seeking a premium lifestyle experience.

Through an exhaustive eight-month process and culminated in a brand new version, the platform has undergone a paradigm shift in its underlying structure, technological framework, UI interface, and all functional modules. The result is an immersive and user-centric experience, with enhanced visibility and seamless accessibility to a multitude of features. By aligning with users' visual and operational preferences, the redesigned layout structure provides an intuitive and gratifying journey, elevating user satisfaction to unprecedented levels.

With its rebranding as CHEERS Lifestyle Architect, the platform seamlessly blends professionally generated content (PGC), user-generated content (UGC), and original generated content (OGC) to a curated selection of top-tier lifestyle-related content for consumers. The platform now fosters a vibrant and interactive content community that revolves around the core principles of "interaction, inspiration, and sharing." By catering to individual real-life scenarios, the product, design, technology research, and content operation teams have meticulously reimagined and optimized the platform's layout and functionality. This holistic upgrade not only introduces a host of innovative features but also empowers users to explore their unique home consumption stages, facilitating personalized content recommendations that resonate on a profound level. Through ingenious content guidance, IP development, and seamless service integration, CHEERS Life Architect empowers users to define their own distinct lifestyle, embrace their authentic selves, and indulge in the delights of a beautiful home.

The platform extends its influence to encompass an array of vertical markets, and serves as a catalyst for innovation and development within the broader homeware industry, facilitating the provision of highly personalized and convenient services that cater to the evolving needs of modern consumers.

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 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 https://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)

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SOURCE Cheer Holding, Inc.