{"id":791830,"date":"2024-12-03T07:35:47","date_gmt":"2024-12-03T12:35:47","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/cheer-holding-announces-us50-million-share-repurchase-authorization\/"},"modified":"2024-12-03T07:35:47","modified_gmt":"2024-12-03T12:35:47","slug":"cheer-holding-announces-us50-million-share-repurchase-authorization","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/cheer-holding-announces-us50-million-share-repurchase-authorization\/","title":{"rendered":"Cheer Holding Announces US$50 Million Share Repurchase Authorization"},"content":{"rendered":"<div class=\"mw_release\">\n<p>BEIJING, Dec.  03, 2024  (GLOBE NEWSWIRE) &#8212;  Cheer Holding, Inc. (NASDAQ: CHR) (\u201cCheer Holding\u201d or the \u201cCompany\u201d), a leading provider of advanced mobile internet infrastructure and platform services, announced today that its board of directors (the \u201cBoard\u201d) has authorized a $50 million repurchase program of its Class A ordinary shares over the next 36 months.<\/p>\n<p align=\"start\">Pursuant to the repurchase program, the Company may repurchase its Class A ordinary shares from time to time in open market transactions or in privately negotiated transactions as permitted under the applicable rules and regulations. Open market purchases are intended to be conducted in accordance with the limitations set forth in Rule 10b-18 under the Securities Exchange Act of 1934, as amended (the \u201cExchange Act\u201d), and applicable legal requirements. All or some portion of the repurchases will be made pursuant to trading plans under Rule 10b5-1 under the Exchange Act, which will permit shares to be repurchased when the Company might otherwise be precluded from doing so because of self-imposed trading blackout periods or other regulatory restrictions. The timing, amount and method of repurchase will be determined by the Company\u2019s management based on market conditions, share price, legal requirements and other factors. The Board will periodically review the repurchase program and reserves the right to suspend, adjust, or discontinue as it deems appropriate at any time. No assurance can be given that any amount of Class A ordinary shares will be repurchased.\u00a0<\/p>\n<p align=\"start\">\n        <b>About Cheer Holding, Inc.<\/b>\n      <\/p>\n<p align=\"start\">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 \u201cplatforms, applications, technology, and industry\u201d 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.<\/p>\n<p align=\"start\">Cheer Holding\u2019s portfolio includes a wide range of products and services, such as CHEERS Telepathy, CHEERS Video, CHEERS e-Mall, CHEERS Open Data, CheerReal, CheerCar, CheerChat, Polaris Intelligent Cloud, AI-animated short drama series, short video matrix, variety show series, Livestreaming, and more. These offerings provide diverse application scenarios that seamlessly blend \u201conline\/offline\u201d and \u201cvirtual\/reality\u201d elements.<\/p>\n<p align=\"start\">With \u201cCHEERS+\u201d at the core of Cheer Holding\u2019s digital ecosystem, the Company is committed to utilizing innovative product applications and technologies to drive its long-term sustainable and scalable growth.<\/p>\n<p align=\"start\">For more information, please visit <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=Fl9rW_JDPoX0efNXJI1akwY-o_9neXX8VIBnDColrB1LCagusKAo_UuKgJUBYW_B9fKWv-SPeRtzrmyp_nalNg==\" rel=\"nofollow\" target=\"_blank\">http:\/\/ir.gsmg.co\/<\/a>.<\/p>\n<p align=\"start\">\n        <b>Safe Harbor Statement<\/b>\n      <\/p>\n<p align=\"start\">Certain statements made in this release are \u201cforward looking statements\u201d within the meaning of the \u201csafe harbor\u201d provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words \u201cestimates,\u201d \u201cprojected,\u201d \u201cexpects,\u201d \u201canticipates,\u201d \u201cforecasts,\u201d \u201cplans,\u201d \u201cintends,\u201d \u201cbelieves,\u201d \u201cseeks,\u201d \u201cmay,\u201d \u201cwill,\u201d \u201cshould,\u201d \u201cfuture,\u201d \u201cpropose\u201d 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\u2019s 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\u2019s 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\u2019s 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\u2019s latest Annual Report on Form 20-F filed with the SEC on March 14, 2024, 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.<\/p>\n<p align=\"start\">\n        <b>For investor and media inquiries, please contact:<\/b>\n      <\/p>\n<p align=\"start\">Wealth Financial Services LLC<br \/>Connie Kang, Partner<br \/>Email: <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=ADRwAA0NnmAM1Mq6lA4JgFjiTia08TQr0ANqKP7w2dKcsmAW6dRkM3b8Bn-dMEGl-fp04sYr036Q47Wcbqc0yB8GvBGcv-nU4gh9uWVI90w=\" rel=\"nofollow\" target=\"_blank\">ckang@wealthfsllc.com<\/a><br \/>Tel: +86 1381 185 7742 (CN)<\/p>\n<p>      <img decoding=\"async\" alt=\"\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTI5MTE0NiM2NjE0MTUwIzUwMDA1MDQ3OQ==\" \/><br \/>\n      <br \/>\n      <img decoding=\"async\" alt=\"\" src=\"https:\/\/ml.globenewswire.com\/media\/Y2M4YTc0ZWMtMjg5OS00MWEwLWIxMjctYThmOTQ2ZDNkMzg2LTUwMDA1MDQ3OQ==\/tiny\/Cheer-Holding-Inc-.png\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>BEIJING, Dec. 03, 2024 (GLOBE NEWSWIRE) &#8212; Cheer Holding, Inc. (NASDAQ: CHR) (\u201cCheer Holding\u201d or the \u201cCompany\u201d), a leading provider of advanced mobile internet infrastructure and platform services, announced today that its board of directors (the \u201cBoard\u201d) has authorized a $50 million repurchase program of its Class A ordinary shares over the next 36 months. Pursuant to the repurchase program, the Company may repurchase its Class A ordinary shares from time to time in open market transactions or in privately negotiated transactions as permitted under the applicable rules and regulations. Open market purchases are intended to be conducted in accordance with the limitations set forth in Rule 10b-18 under the Securities Exchange Act of 1934, as amended (the \u201cExchange Act\u201d), &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/cheer-holding-announces-us50-million-share-repurchase-authorization\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Cheer Holding Announces US$50 Million Share Repurchase Authorization&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-791830","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Cheer Holding Announces US$50 Million Share Repurchase Authorization - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/cheer-holding-announces-us50-million-share-repurchase-authorization\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cheer Holding Announces US$50 Million Share Repurchase Authorization - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"BEIJING, Dec. 03, 2024 (GLOBE NEWSWIRE) &#8212; Cheer Holding, Inc. (NASDAQ: CHR) (\u201cCheer Holding\u201d or the \u201cCompany\u201d), a leading provider of advanced mobile internet infrastructure and platform services, announced today that its board of directors (the \u201cBoard\u201d) has authorized a $50 million repurchase program of its Class A ordinary shares over the next 36 months. Pursuant to the repurchase program, the Company may repurchase its Class A ordinary shares from time to time in open market transactions or in privately negotiated transactions as permitted under the applicable rules and regulations. Open market purchases are intended to be conducted in accordance with the limitations set forth in Rule 10b-18 under the Securities Exchange Act of 1934, as amended (the \u201cExchange Act\u201d), &hellip; Continue reading &quot;Cheer Holding Announces US$50 Million Share Repurchase Authorization&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/cheer-holding-announces-us50-million-share-repurchase-authorization\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2024-12-03T12:35:47+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTI5MTE0NiM2NjE0MTUwIzUwMDA1MDQ3OQ==\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/cheer-holding-announces-us50-million-share-repurchase-authorization\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/cheer-holding-announces-us50-million-share-repurchase-authorization\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Cheer Holding Announces US$50 Million Share Repurchase Authorization\",\"datePublished\":\"2024-12-03T12:35:47+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/cheer-holding-announces-us50-million-share-repurchase-authorization\\\/\"},\"wordCount\":811,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/cheer-holding-announces-us50-million-share-repurchase-authorization\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=OTI5MTE0NiM2NjE0MTUwIzUwMDA1MDQ3OQ==\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/cheer-holding-announces-us50-million-share-repurchase-authorization\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/cheer-holding-announces-us50-million-share-repurchase-authorization\\\/\",\"name\":\"Cheer Holding Announces US$50 Million Share Repurchase Authorization - 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(NASDAQ: CHR) (\u201cCheer Holding\u201d or the \u201cCompany\u201d), a leading provider of advanced mobile internet infrastructure and platform services, announced today that its board of directors (the \u201cBoard\u201d) has authorized a $50 million repurchase program of its Class A ordinary shares over the next 36 months. Pursuant to the repurchase program, the Company may repurchase its Class A ordinary shares from time to time in open market transactions or in privately negotiated transactions as permitted under the applicable rules and regulations. Open market purchases are intended to be conducted in accordance with the limitations set forth in Rule 10b-18 under the Securities Exchange Act of 1934, as amended (the \u201cExchange Act\u201d), &hellip; Continue reading \"Cheer Holding Announces US$50 Million Share Repurchase Authorization\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/cheer-holding-announces-us50-million-share-repurchase-authorization\/","og_site_name":"Market Newsdesk","article_published_time":"2024-12-03T12:35:47+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTI5MTE0NiM2NjE0MTUwIzUwMDA1MDQ3OQ==","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/cheer-holding-announces-us50-million-share-repurchase-authorization\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/cheer-holding-announces-us50-million-share-repurchase-authorization\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Cheer Holding Announces US$50 Million Share Repurchase Authorization","datePublished":"2024-12-03T12:35:47+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/cheer-holding-announces-us50-million-share-repurchase-authorization\/"},"wordCount":811,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/cheer-holding-announces-us50-million-share-repurchase-authorization\/#primaryimage"},"thumbnailUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTI5MTE0NiM2NjE0MTUwIzUwMDA1MDQ3OQ==","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/cheer-holding-announces-us50-million-share-repurchase-authorization\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/cheer-holding-announces-us50-million-share-repurchase-authorization\/","name":"Cheer Holding Announces US$50 Million Share Repurchase Authorization - 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