Cheer Holding, Inc. Announces Results of its Annual General Meeting
Rhea-AI Summary
Cheer Holding (NASDAQ: CHR) held its 2025 Annual General Meeting in Beijing on May 12, 2025, where shareholders approved several key measures. The meeting resulted in the re-election of Mr. Ke Chen as a Class III director until 2028 and the ratification of Enrome LLC as the company's independent auditor for FY2025. Notably, shareholders approved increasing the authorized Class A ordinary shares from 200 million to 500 million shares. Additionally, the board received authorization to implement a potential share consolidation at ratios of 1-for-10, 1-for-25, or 1-for-50, to be executed at their discretion.
Positive
- Authorization to increase Class A shares from 200M to 500M provides greater financial flexibility
- Board's authorization for share consolidation could help meet NASDAQ listing requirements if needed
Negative
- Potential share consolidation suggests possible concerns about low share price
- Significant increase in authorized shares may indicate potential future dilution
News Market Reaction
On the day this news was published, CHR declined NaN%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
BEIJING, May 12, 2025 (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 results of its 2025 Annual General Meeting, which was held on May 12, 2025 in Beijing, China.
At the Annual General Meeting, the Company’s shareholders:
(1) re-elected Mr. Ke Chen as a Class III director of the Company until the 2028 annual general meeting of the Company or until his respective successors is duly appointed and qualified;
(2) ratified the appointment of Enrome LLC as the independent registered public accounting firm of the Company for the financial year ending December 31, 2025;
(3) approved to increase the number of authorized Class A ordinary shares of a par value of US
(4) approved to authorize the board of directors to implement a share consolidation for the Class A Shares, at such times as it deems appropriate, and in its discretion, to select a ratio of 1-for-10, 1-for-25 or 1-for-50.
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 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 “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 ability to acquire
For investor and media inquiries, please contact:
Wealth Financial Services LLC
Connie Kang, Partner
Email: ckang@wealthfsllc.com
Tel: +86 1381 185 7742 (CN)
FAQ
What were the key decisions made at Cheer Holding's (CHR) 2025 Annual General Meeting?
What is the new authorized share count for Cheer Holding (CHR) after the 2025 AGM?
What share consolidation ratios were approved for Cheer Holding (CHR)?
Who was re-elected as director at Cheer Holding's (CHR) 2025 AGM?
Which firm was appointed as Cheer Holding's (CHR) auditor for 2025?
