GSMG Glory Star New Media Group Holdings Ltd

Cheer Holding, Inc. (NASDAQ: CHR) ("Cheer Holding," or the "Company"), a leading provider of advanced mobile internet infrastructure and platform services, today announced the acquisition of a prestigious invention patent certificate from the National Intellectual Property Administration. This milestone achievement solidifies Cheer Holding’s position as a trailblazer in the AI industry, showcasing the Company’s groundbreaking invention of "Method and System for Establishing an Artificial Intelligence Question-Answering Knowledge Base."

In today's rapidly evolving AI landscape, information comprehension represents a paramount challenge. Recognizing the significance of this hurdle, China State Council's "Next-Generation Artificial Intelligence Development Plan" has identified information understanding as a critical foundational technology.

Cheer Holding’s revolutionary invention introduces an innovative approach to creating an artificial intelligence question-answering knowledge base. Leveraging advanced data processing techniques, this pioneering method encompasses various crucial steps. By collecting input sentences from an AI cloud platform, the system extracts question texts, meticulously filtering out extraneous characters to extract valuable textual information. Through numerical conversion, each character receives a numerical representation, enabling the identification of crucial information phrases. These phrases form the basis for generating multiple initial matching answers. Employing a sophisticated matching algorithm, the system calculates the compatibility between user queries and each initial answer, ultimately selecting the most optimal match to construct an intelligent question-answering knowledge base.

This invention revolutionizes the processing of input sentences, streamlining the elimination of irrelevant information. The result is the swift and targeted construction of an advanced artificial intelligence question-answering knowledge base.

Securing the national invention patent reinforces the Company’s position as a leading force in the world of AGI. It further solidifies Cheer Holding’s core competencies and underscores our dedication to driving transformative advancements in the field of AI.

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 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 Polaris Intelligent Cloud, CHEERS Telepathy, CHEERS Open Platform, CHEERS Video, CHEERS e-Mall, CheerReal, CheerCar, CheerChat, CHEERS Fresh Group-Buying E-commerce Platform, Digital Innovation Research Institute, CHEERS Livestreaming, variety show series, IP short video matrix, 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 ecosystem, the Company is committed to consolidating and strengthening its core competitiveness, and achieving 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 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 22, 2023, 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)