Exhibit 99.1 The accompanying notes are an integral part of these unaudited condensed consolidated financial statements. CHEER HOLDING, INC. UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (In U.S. dollars in thousands, except share and per share data) | --- | --- | --- | --- | --- | --- | |----------------------------------------------------|-------|-------|---------|-------|---------| | | | | | | | | Current assets: | | | | | | | Cash and cash equivalents | | $ | 186,089 | $ | 194,227 | | Restricted cash ...

BEIJING, July 09, 2024 (GLOBE NEWSWIRE) -- Cheer Holding, Inc. (NASDAQ:CHR) ("Cheer Holding," or the "Company"), a leading provider of advanced mobile internet infrastructure and platform services, as one of the important participants and promoters for the development of digital economy and one of the representatives of small and medium-sized enterprises (SMEs) in the aspects of innovation and development, the Company was invited to attend the SME Innovation and Development Forum of the Global Digital Econo ...

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 audien ...

Core Insights - Cheer Holding, Inc. has achieved over 11 million online views for its animation series "Mystical Realm of Mountains and Seas" since its release on June 5, 2024, indicating strong audience engagement and cultural interest [1][3] - The animation series is based on the ancient Chinese text "The Classic of Mountains and Seas" and consists of five episodes, showcasing the company's ability to leverage AI technology in creative production [1][2] - The production of the series was expedited through the use of CHEERS Telepathy, completing the work in just three weeks, a significant reduction from the traditional five-month timeline [2][3] Company Overview - Cheer Holding is a leading provider of advanced mobile internet infrastructure and platform services in China, focusing on creating a digital ecosystem that integrates various technologies and applications [4][5] - The company is developing a shared universe space that incorporates 5G, VR, AR, and AI technologies, aiming to enhance its competitive edge in the market [4][5] - Cheer Holding's product portfolio includes a variety of services such as Polaris Intelligent Cloud, CHEERS Telepathy, and CHEERS Open Data Platform, which cater to diverse application scenarios [5] Technological Advancements - The animation series "Mystical Realm of Mountains and Seas" represents a successful application of Cheer Holding's AI technology in the film and television sector, showcasing the potential for commercialization in various business areas [3] - CHEERS Telepathy has made significant breakthroughs in its underlying technology, which is expected to expand its application in film, television, animation, and advertising [3]

BEIJING, June 11, 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 the official release of the upgraded 2.0 edition of its multimodal AI creative platform CHEERS Telepathy (the "Platform"). This edition features more advanced and complicated algorithms and models, more powerful application capacity, and more comprehensive AI interaction functionalities. This mark ...

BEIJING, June 11, 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 the official release of the upgraded 2.0 edition of its multimodal AI creative platform CHEERS Telepathy (the “Platform”). This edition features more advanced and complicated algorithms and models, more powerful application capacity, and more comprehensive AI interaction functionalities. This mar ...

BEIJING, May 28, 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 first AIGC animation for children, Super Potato's Adventure, has been released, which is accessible online at: https://oss.cheerreal.com/20240425/85b2f78522dce47b8eed4c02fd4e1c6f.mp4 Super Potato's Adventure is the Company's first release in the field of children's animation produced by C ...

Core Insights - Cheer Holding, Inc. has launched a new AI-generated science fiction series titled "Land of No Desires," set in a metaverse that explores the intersection of human creativity and advanced technology [1][4] - The series consists of two seasons, with the first season featuring eight episodes and the second season comprising twelve episodes, each lasting three minutes [2] - The production utilizes Cheer Holding's Polaris Intelligent Cloud and CHEERS Telepathy AI model, integrating storytelling with advanced technologies such as augmented reality, virtual reality, and deep learning [3] Company Overview - Cheer Holding is a leading provider of next-generation mobile internet infrastructure and platform services in China, focusing on creating a digital ecosystem that integrates platforms, applications, technology, and industry [5] - The company is developing a 5G+VR+AR+AI shared universe space, leveraging cutting-edge technologies including blockchain and cloud computing [5] - Cheer Holding's diverse portfolio includes products and services like CHEERS Telepathy, CHEERS Open Data Platform, and various e-commerce and entertainment platforms, aimed at blending online and offline experiences [6]

BEIJING, May 07, 2024 (GLOBE NEWSWIRE) -- Cheer Holding, Inc. (NASDAQ:CHR) ("Cheer Holding," or the "Company"), a technology-driven leading provider of advanced mobile Internet infrastructure and platform services, today announced that its subsidiary Glory Star (Beijing) Media Co., Ltd. ("Glory Star") has been recognized as a Specialized and Innovative Enterprise published by Beijing Municipal Bureau of Economy and Information Technology. Such acknowledgment is the result of a comprehensive evaluation of th ...

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 pr ...