Cheer Holding Receives Nasdaq Delisting Notice Subject to Hearing Request
Rhea-AI Summary
Cheer Holding (NASDAQ: CHR) received a Nasdaq notice on November 18, 2025 stating it is not in compliance with the Low Priced Stocks Rule (Listing Rule 5810(c)(3)(A)(iii)) after a closing bid price of $0.10 or less for ten consecutive trading days and with Listing Rule 5550(a)(2) after a sub-$1 closing bid for 30 consecutive business days.
Nasdaq determined to delist the Company's securities; Cheer Holding has until November 26, 2025 to request a Hearing Panel appeal to stay suspension. If no appeal is filed, trading would be suspended on December 1, 2025 and a Form 25-NSE would be filed to remove the listing. The Company intends to request a hearing and is considering options, including a previously shareholder-approved share consolidation from May 12, 2025.
Positive
- Company intends to request a Hearing Panel appeal by Nov 26, 2025
- Filing a hearing request will stay suspension and Form 25-NSE filing
- Share consolidation was approved May 12, 2025 as a compliance option
Negative
- Nasdaq determined delisting due to closing bid ≤$0.10 for 10 days
- Class A shares closed under $1 for 30 consecutive business days
- Trading suspension scheduled to begin Dec 1, 2025 if no appeal filed
- Form 25-NSE would remove securities from Nasdaq listing and registration
News Market Reaction
On the day this news was published, CHR declined 1.13%, reflecting a mild negative market reaction. Argus tracked a trough of -20.0% from its starting point during tracking. Our momentum scanner triggered 9 alerts that day, indicating moderate trading interest and price volatility. This price movement removed approximately $68K from the company's valuation, bringing the market cap to $6M at that time.
Data tracked by StockTitan Argus on the day of publication.
BEIJING, Nov. 21, 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 that on November 18, 2025, it received a notice (the “Notice”) from The NASDAQ Stock Market LLC (“Nasdaq”) notifying that the Company is not in compliance with Nasdaq Listing Rule 5810(c)(3)(A)(iii) (the “Low Priced Stocks Rule”), as the Company’s Class A ordinary shares had a closing bid price of
The letter also indicated that the bid price of the Company's Class A ordinary shares had closed at less than
The Company intends to request such hearing to appeal the Delisting Determination before November 26, 2025, which will stay the suspension of the Company's securities and the filing of the Form 25-NSE pending the Panel’s decision.
The Company is considering all potential options available to it to regain compliance with the aforementioned rules, including implementing a share consolidation previously approved by its shareholders on May 12, 2025 at its 2025 Annual General Meeting.
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.
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 include, but are not limited to, that the Company will be granted its request for continued listing or be able to continue to have its Class A ordinary shares listed on The NASDAQ Stock Market. The Company is subject to a number of 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 10, 2025. 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)
FAQ
What did Cheer Holding (CHR) receive from Nasdaq on November 18, 2025?
How can Cheer Holding (CHR) prevent suspension of trading on December 1, 2025?
What listing rules did Cheer Holding (CHR) fail to meet?
What happens if Cheer Holding (CHR) does not appeal the delisting determination?
What compliance option is Cheer Holding (CHR) considering to address Nasdaq concerns?
