<p>2025 年 11 月 21 日- 下午 05:00</p>
<p>北京，2025 年 11 月 21 日（全球新闻稿）-- Cheer Holding, Inc.（纳斯达克：CHR）（“Cheer Holding” 或 “公司”），一家领先的移动互联网基础设施和平台服务提供商，今天宣布，2025 年 11 月 18 日，公司收到来自纳斯达克证券市场有限责任公司（“纳斯达克”）的通知（“通知”），通知公司未能遵守纳斯达克上市规则 5810(c)(3)(A)(iii)（“低价股票规则”），因为公司 A 类普通股在过去十个连续交易日的收盘买入价为 0.10 美元或更低。通知指出，基于此，纳斯达克工作人员决定将公司的证券从纳斯达克资本市场退市（“退市决定”）。</p>
<p>信中还指出，公司 A 类普通股在过去 30 个连续交易日的收盘买入价均低于每股 1 美元，因此公司未能遵守上市规则 5550(a)(2)（“规则”）。通常情况下，公司有 180 个日历天的时间来恢复对该规则的合规性，依据上市规则 5810(c)(3)(A)。然而，纳斯达克确定公司的证券在十个连续交易日的收盘买入价也为 0.10 美元或更低。因此，公司受到低价股票规则下的条款的约束，纳斯达克决定将公司的证券从纳斯达克资本市场退市。公司被给予直到 2025 年 11 月 26 日的时间向听证小组（“小组”）请求对退市决定的上诉。如果公司未能在 2025 年 11 月 26 日之前请求上诉，则公司的证券交易将在 2025 年 12 月 1 日开盘时暂停，并将向美国证券交易委员会提交一份 25-NSE 表格，该表格将移除公司的证券在纳斯达克证券市场的上市和注册。</p>
<p>公司打算在 2025 年 11 月 26 日之前请求听证，以对退市决定进行上诉，这将暂停公司的证券的交易暂停和 25-NSE 表格的提交，直至小组作出决定。</p>
<p>公司正在考虑所有可用的潜在选项，以恢复对上述规则的合规性，包括实施在 2025 年 5 月 12 日的 2025 年年度股东大会上获得股东批准的股份合并。</p>
<p><strong>关于 Cheer Holding, Inc.</strong></p>
<p>作为中国下一代移动互联网基础设施和平台服务的杰出提供商，Cheer Holding 致力于构建一个将 “平台、应用、技术和行业” 整合为一个统一数字生态系统的数字生态系统，从而为利用人工智能技术的 web3.0 创造一个新的开放商业环境。公司正在开发一个基于 5G+VR+AR+AI 的共享宇宙空间，构建在区块链、云计算、扩展现实和数字双胞胎等前沿技术之上。</p>
<p>Cheer Holding 的产品组合包括广泛的产品和服务，如 CHEERS Telepathy、CHEERS Video、CHEERS e-Mall、CHEERS Open Data、CheerReal、CheerCar、CheerChat、Polaris Intelligent Cloud、AI 动画短剧系列、短视频矩阵、综艺节目系列、直播等。这些产品提供多样的应用场景，完美融合 “线上/线下” 和 “虚拟/现实” 元素。</p>
<p>以 “CHEERS+” 为核心，Cheer Holding 的数字生态系统致力于利用创新的产品应用和技术推动其长期可持续和可扩展的增长。</p>
<p><strong>安全港声明</strong></p>
<p>本公告中某些陈述为 1995 年美国私人证券诉讼改革法案 “安全港” 条款下的 “前瞻性陈述”。在本新闻稿中使用的 “估计”、“预测”、“期望”、“预期”、“预测”、“计划”、“意图”、“相信”、“寻求”、“可能”、“将”、“应该”、“未来”、“提议” 及这些词的变体或类似表达（或这些词或表达的否定版本）旨在识别前瞻性陈述。这些前瞻性陈述包括但不限于，公司将获得继续上市的请求或能够继续在纳斯达克证券市场上市其 A 类普通股。公司面临多种风险和不确定性，详见公司不时向证券交易委员会提交的文件，包括公司于 2025 年 3 月 10 日向 SEC 提交的最新 20-F 年度报告。除非适用法律要求，否则公司不承担更新或修订任何前瞻性陈述的义务，无论是由于新信息、未来事件还是其他原因。该信息仅在本公告日期有效。</p>
<p>如需投资者和媒体咨询，请联系：</p>
<p>Wealth Financial Services LLC</p>
<p>Connie Kang，合伙人</p>
<p>电子邮件：ckang@wealthfsllc.com</p>
<p>电话：+86 1381 185 7742（中国）</p>
<p><img src="https://imageproxy.pbkrs.com/https://www.globenewswire.com/newsroom/ti/query-bmY9T1RVNE1EUXlNU00zTWpjM05EQTRJelV3TURBMU1EUTNPUT09?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://www.globenewswire.com/newsroom/ti/query-bmY9T1RVNE1EUXlNU00zTWpjM05EQTRJelV3TURBMU1EUTNPUT09"/></p>
<p><img src="https://imageproxy.pbkrs.com/https://ml.globenewswire.com/media/Zjc3NTc0ZmItZmI0MS00NDQ5LTkxNjItM2VhZmI5YTVhNDZmLTUwMDA1MDQ3OS0yMDI1LTExLTIxLWVu/tiny/Cheer-Holding-Inc-.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://ml.globenewswire.com/media/Zjc3NTc0ZmItZmI0MS00NDQ5LTkxNjItM2VhZmI5YTVhNDZmLTUwMDA1MDQ3OS0yMDI1LTExLTIxLWVu/tiny/Cheer-Holding-Inc-.png"/></p>

<p>Cheer Holding, Inc. 收到了纳斯达克退市通知，原因是其股票连续十天收盘价低于 0.10 美元，违反了上市规则。该公司计划在 2025 年 11 月 26 日之前对该决定提出上诉，以防止暂停和退市。Cheer Holding 正在探索恢复合规的选项，包括今年早些时候批准的股票合并</p>

<p>11/21/2025 - 05:00 PM</p>
<div class="lb-trans"><p>2025 年 11 月 21 日- 下午 05:00</p>
</div><p>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 $0.10 or less for the last ten consecutive trading days. The Notice indicated that, as a result, Nasdaq staff determined to delist the Company’s securities from The Nasdaq Capital Market (the “Delisting Determination”).</p>
<div class="lb-trans"><p>北京，2025 年 11 月 21 日（全球新闻稿）-- Cheer Holding, Inc.（纳斯达克：CHR）（“Cheer Holding” 或 “公司”），一家领先的移动互联网基础设施和平台服务提供商，今天宣布，2025 年 11 月 18 日，公司收到来自纳斯达克证券市场有限责任公司（“纳斯达克”）的通知（“通知”），通知公司未能遵守纳斯达克上市规则 5810(c)(3)(A)(iii)（“低价股票规则”），因为公司 A 类普通股在过去十个连续交易日的收盘买入价为 0.10 美元或更低。通知指出，基于此，纳斯达克工作人员决定将公司的证券从纳斯达克资本市场退市（“退市决定”）。</p>
</div><p>The letter also indicated that the bid price of the Company's Class A ordinary shares had closed at less than $1 per share over the previous 30 consecutive business days, and as a result, the Company is not in compliance with Listing Rule 5550(a)(2) (the “Rule”). Normally, a company is provided 180 calendar days to regain compliance with the Rule in accordance with Listing Rule 5810(c)(3)(A). However, Nasdaq determined that the Company's securities also had a closing bid price of $0.10 or less for ten consecutive trading days. Accordingly, the Company became subject to the provisions contemplated under the Low Priced Stocks Rule and Nasdaq had determined to delist the Company's securities from The Nasdaq Capital Market. The Company was provided until November 26, 2025 to request an appeal of the Delisting Determination to the Hearings Panel (the “Panel”). If the Company fails to request an appeal by November 26, 2025, trading of the Company's securities will be suspended at the opening of business on December 1, 2025, and a Form 25-NSE will be filed with the SEC, which will remove the Company's securities from listing and registration on The Nasdaq Stock Market.</p>
<div class="lb-trans"><p>信中还指出，公司 A 类普通股在过去 30 个连续交易日的收盘买入价均低于每股 1 美元，因此公司未能遵守上市规则 5550(a)(2)（“规则”）。通常情况下，公司有 180 个日历天的时间来恢复对该规则的合规性，依据上市规则 5810(c)(3)(A)。然而，纳斯达克确定公司的证券在十个连续交易日的收盘买入价也为 0.10 美元或更低。因此，公司受到低价股票规则下的条款的约束，纳斯达克决定将公司的证券从纳斯达克资本市场退市。公司被给予直到 2025 年 11 月 26 日的时间向听证小组（“小组”）请求对退市决定的上诉。如果公司未能在 2025 年 11 月 26 日之前请求上诉，则公司的证券交易将在 2025 年 12 月 1 日开盘时暂停，并将向美国证券交易委员会提交一份 25-NSE 表格，该表格将移除公司的证券在纳斯达克证券市场的上市和注册。</p>
</div><p>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.</p>
<div class="lb-trans"><p>公司打算在 2025 年 11 月 26 日之前请求听证，以对退市决定进行上诉，这将暂停公司的证券的交易暂停和 25-NSE 表格的提交，直至小组作出决定。</p>
</div><p>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.</p>
<div class="lb-trans"><p>公司正在考虑所有可用的潜在选项，以恢复对上述规则的合规性，包括实施在 2025 年 5 月 12 日的 2025 年年度股东大会上获得股东批准的股份合并。</p>
</div><p><strong>About Cheer Holding, Inc.</strong></p>
<div class="lb-trans"><p><strong>关于 Cheer Holding, Inc.</strong></p>
</div><p>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.</p>
<div class="lb-trans"><p>作为中国下一代移动互联网基础设施和平台服务的杰出提供商，Cheer Holding 致力于构建一个将 “平台、应用、技术和行业” 整合为一个统一数字生态系统的数字生态系统，从而为利用人工智能技术的 web3.0 创造一个新的开放商业环境。公司正在开发一个基于 5G+VR+AR+AI 的共享宇宙空间，构建在区块链、云计算、扩展现实和数字双胞胎等前沿技术之上。</p>
</div><p>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.</p>
<div class="lb-trans"><p>Cheer Holding 的产品组合包括广泛的产品和服务，如 CHEERS Telepathy、CHEERS Video、CHEERS e-Mall、CHEERS Open Data、CheerReal、CheerCar、CheerChat、Polaris Intelligent Cloud、AI 动画短剧系列、短视频矩阵、综艺节目系列、直播等。这些产品提供多样的应用场景，完美融合 “线上/线下” 和 “虚拟/现实” 元素。</p>
</div><p>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.</p>
<div class="lb-trans"><p>以 “CHEERS+” 为核心，Cheer Holding 的数字生态系统致力于利用创新的产品应用和技术推动其长期可持续和可扩展的增长。</p>
</div><p><strong>Safe Harbor Statement</strong></p>
<div class="lb-trans"><p><strong>安全港声明</strong></p>
</div><p>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.</p>
<div class="lb-trans"><p>本公告中某些陈述为 1995 年美国私人证券诉讼改革法案 “安全港” 条款下的 “前瞻性陈述”。在本新闻稿中使用的 “估计”、“预测”、“期望”、“预期”、“预测”、“计划”、“意图”、“相信”、“寻求”、“可能”、“将”、“应该”、“未来”、“提议” 及这些词的变体或类似表达（或这些词或表达的否定版本）旨在识别前瞻性陈述。这些前瞻性陈述包括但不限于，公司将获得继续上市的请求或能够继续在纳斯达克证券市场上市其 A 类普通股。公司面临多种风险和不确定性，详见公司不时向证券交易委员会提交的文件，包括公司于 2025 年 3 月 10 日向 SEC 提交的最新 20-F 年度报告。除非适用法律要求，否则公司不承担更新或修订任何前瞻性陈述的义务，无论是由于新信息、未来事件还是其他原因。该信息仅在本公告日期有效。</p>
</div><p>For investor and media inquiries, please contact:</p>
<div class="lb-trans"><p>如需投资者和媒体咨询，请联系：</p>
</div><p>Wealth Financial Services LLC</p>
<div class="lb-trans"><p>Wealth Financial Services LLC</p>
</div><p>Connie Kang, Partner</p>
<div class="lb-trans"><p>Connie Kang，合伙人</p>
</div><p>Email: ckang@wealthfsllc.com</p>
<div class="lb-trans"><p>电子邮件：ckang@wealthfsllc.com</p>
</div><p>Tel: +86 1381 185 7742 (CN)</p>
<div class="lb-trans"><p>电话：+86 1381 185 7742（中国）</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://www.globenewswire.com/newsroom/ti/query-bmY9T1RVNE1EUXlNU00zTWpjM05EQTRJelV3TURBMU1EUTNPUT09" alt="" original-src="https://www.globenewswire.com/newsroom/ti?nf=OTU4MDQyMSM3Mjc3NDA4IzUwMDA1MDQ3OQ=="/></p>
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Cheer Holding 收到纳斯达克退市通知，需申请听证 | CHR 股票新闻