Cheer Holding Announces Results of Extraordinary General Meeting

Core Viewpoint - Cheer Holding, Inc. has announced the results of its Extraordinary General Meeting, where shareholders approved a proposal to reduce and amend the company's authorized share capital, subject to certain conditions being met [1][2]. Group 1: Share Capital Reduction - The authorized share capital will be reduced from US$500,700 to US$500,699.95, with a change in the structure of Class A ordinary shares from 10,000,000 shares of par value US$0.05 each to 3,333,333 shares of par value US$0.15 each [2][7]. - The proposal includes the cancellation of one authorized but unissued Class A ordinary share and the consolidation of the remaining Class A ordinary shares, where every three shares of par value US$0.05 will be consolidated into one share of par value US$0.15 [7]. Group 2: Company Overview - Cheer Holding, Inc. is a leading provider of advanced mobile internet infrastructure and platform services in China, focusing on creating a digital ecosystem that integrates platforms, applications, technology, and industry [3]. - The company is developing a 5G+VR+AR+AI shared universe space, leveraging cutting-edge technologies such as blockchain, cloud computing, extended reality, and digital twin [3]. - Cheer Holding's product portfolio includes various offerings like CHEERS Telepathy, CHEERS Video, CHEERS e-Mall, and AI-animated short drama series, which blend online/offline and virtual/reality elements [4]. Group 3: Strategic Focus - The core of Cheer Holding's digital ecosystem is "CHEERS+", which aims to utilize innovative product applications and technologies to drive long-term sustainable and scalable growth [5].