CHR Cheer Holding Inc

Cheer Holding, Inc. (NASDAQ: CHR) (“Cheer Holding” or the “Company”), a leading provider of advanced mobile internet infrastructure and platform services, today announced a major upgrade to its CHEERS video platform (“CHEERS”). As consumer demand for personalization in the home goods market continues to rise, coupled with a younger and more personalized user base, the need for diverse and refined functional home solutions is increasing. as a premier lifestyle content aggregation platform, CHEERS is keenly attuned to market changes and has undergone a critical upgrade and optimization since its launch. 

This upgrade prominently underscores CHEERS app's positioning as an “encyclopedia” of home and lifestyle in China. The newly upgraded version has seen significant enhancements across several key dimensions, including user interface design, operational processes, functional modules, and personalized recommendation algorithms. CHEERS has further met the diverse demands for high-quality curated lifestyle content from users across different regions and demographics. Enhancement is now seen in various performance metrics, particularly in user engagement time, which has increased by nearly 30%, reinforcing its leading position and market competitiveness in the lifestyle services sector in China.

In terms of user interface design and operational workflow, the upgraded CHEERS app has optimized the way that information is presented, implementing bold changes and enhancements. It employs a clear and concise card-style design to display content, reducing the cognitive burden on users and aligning with their operational habits, greatly enhancing usability and allowing for a more seamless browsing experience. Additionally, CHEERS has focused on precise and advanced algorithmic categorization for its functions, enabling first-time users to quickly locate what they need. According to data, the access rates for each function within the upgraded version have increased by an average of 13%, with existing user activity reaching an all-time high and the second-day retention rate for new users improving by 15%, leading to a 50% increase in average user dwell time.

On the functional and content front, CHEERS has further highlighted its unique attributes as a “soft decoration guide” and “home dictionary”, showing its significant transformation into a home living encyclopedia. The functionality design prominently features entries like “Soft Decoration Guide”, “Home Inspiration” and “Essential Catalog” that are easier to access, removing previously cumbersome operations and allowing users to quickly and easily obtain a wealth of practical home knowledge, inspiring case studies, and a diverse range of product information. This has attracted more users to actively explore the rich and practical functionalities and content immersively in a creative world of home living.

In terms of content enhancement, CHEERS not only covers comprehensive knowledge related to soft decoration but also provides market trend analyses on home living styles. New popular entries such as “Smart Home”, “Children’s Room Renovation”, “Pet-Friendly Renovations”, “Elderly-Friendly Renovations” and “Celebrity Home Styles” have been added to accurately align with new demands in home living. Since the upgrade was launched, user browsing of overall content and utilization of popular entries have increased by over 30%, and related content has driven a greater than 20% increase in product click-through rates, effectively boosting user satisfaction and engagement.

Regarding personalized recommendation algorithms, CHEERS employs precise stratification based on user attributes to tailor content needs and usage habits for different users, enabling them to feel that the app has a deep understanding of their needs. Data indicates that since the upgrade, the click-through rate for recommended content has improved by 12%, and interaction behaviors driven by recommendations have increased by 18%, effectively enhancing user activity and retention rates.

This new upgrade represents a successful innovative exploration in the home living and content service sector in China. With ongoing innovation and optimization, CHEERS is poised to maintain its leading position in China's home living service platform sector, delivering greater value to users and the market.

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.

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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 possibility that the Company may not succeed in developing its new lines of businesses due to, among other things, changes in the business environment and technological developments, competition, changes in regulation, or other economic and policy factors; disruptions or other business interruptions that may affect the operations of our products and services, the possibility that the Company’s new lines of business may be adversely affected by other economic, business, and/or competitive factors; other factors, 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 14, 2024, as amended. 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)