<SEC-DOCUMENT>0001213900-25-123496.txt : 20251219
<SEC-HEADER>0001213900-25-123496.hdr.sgml : 20251219
<ACCEPTANCE-DATETIME>20251219070101
ACCESSION NUMBER:		0001213900-25-123496
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20251219
FILED AS OF DATE:		20251219
DATE AS OF CHANGE:		20251219

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Cheer Holding, Inc.
		CENTRAL INDEX KEY:			0001738758
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-COMPUTER PROCESSING & DATA PREPARATION [7374]
		ORGANIZATION NAME:           	06 Technology
		EIN:				000000000
		STATE OF INCORPORATION:			E9
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-38631
		FILM NUMBER:		251585031

	BUSINESS ADDRESS:	
		STREET 1:		19F, BLOCK B, XINHUA TECHNOLOGY BUILDING
		STREET 2:		NO. 8 TUOFANGYING SOUTH RD, JIUXIANQIAO
		CITY:			CHAOYANG DISTRICT, BEIJING
		STATE:			F4
		ZIP:			100016
		BUSINESS PHONE:		86-13810355988

	MAIL ADDRESS:	
		STREET 1:		19F, BLOCK B, XINHUA TECHNOLOGY BUILDING
		STREET 2:		NO. 8 TUOFANGYING SOUTH RD, JIUXIANQIAO
		CITY:			CHAOYANG DISTRICT, BEIJING
		STATE:			F4
		ZIP:			100016

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	GLORY STAR NEW MEDIA GROUP HOLDINGS Ltd
		DATE OF NAME CHANGE:	20200219

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	TKK SYMPHONY ACQUISITION Corp
		DATE OF NAME CHANGE:	20180426
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>ea026990801-6k_cheerhold.htm
<DESCRIPTION>REPORT OF FOREIGN PRIVATE ISSUER
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>FORM 6-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>REPORT OF FOREIGN PRIVATE ISSUER</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>PURSUANT TO RULE 13a-16 OR 15d-16</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>UNDER THE SECURITIES EXCHANGE ACT OF 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>For the month of December, 2025</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Commission File Number: 001-38631 </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>CHEER HOLDING, INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>19F, Block B, Xinhua Technology Building,</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>No. 8 Tuofangying South Road,</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Jiuxianqiao, Chaoyang District, Beijing, China 100016</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Address of principal executive office)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Indicate by check mark whether the registrant files
or will file annual reports under cover of Form 20-F or Form 40-F:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Form 20-F &#9746;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Form 40-F &#9744;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Explanatory Note</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Board of Directors of the
of Cheer Holding, Inc. (the &ldquo;Company&rdquo;) has authorized and approved the Company to file a notice (the &ldquo;Notice&rdquo;)
to effect a share consolidation so that every 50 Class A ordinary shares of a par value of US$0.0001 each in the authorized share capital
of the Company (including issued and unissued share capital) be consolidated into 1 ordinary share of a par value of US$0.001 (the &ldquo;Share
Consolidation&rdquo;), such that immediately following the Share Consolidation, the authorized share capital of the Company will be US$500,700
divided into 10,000,000 Class A ordinary shares of a par value of US$0.05 each; 500,000 Class B ordinary shares of a par value of US$0.001
each; and 2,000,000 preferred shares of a par value of US$0.0001 each. The Share Consolidation was approved by the Company&rsquo;s shareholders
on May 12, 2025.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Share Consolidation will be
effected by filing a notice to the Registrar of Companies of the Cayman Islands, and will become effective at 4:05 p.m. (New York time)
on December 22, 2025. The Company&rsquo;s ordinary shares will continue to be traded on the Nasdaq Capital Market under the symbol &ldquo;CHR&rdquo;
and will begin trading on a post-consolidation-adjusted basis when the market opens on December 23, 2025. The CUSIP number for the Company&rsquo;s
ordinary shares following the Share Consolidation will be G29973121.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Company is effecting the Share
Consolidation in order to maintain its listing on the Nasdaq Capital Market. As previously disclosed, on October 16, 2025, the Company
received notice from the Listing Qualifications Department of The NASDAQ Stock Market LLC (&ldquo;Nasdaq&rdquo;) indicating that the Company
is not in compliance with the minimum bid price requirement of US$1.00 per share under the Nasdaq Listing Rules. In addition, on November
19, 2025, Nasdaq issued a letter notifying the Company that as of November 18, 2025, it has determined to delist the Company&rsquo;s common
stock from the Nasdaq Capital Market as a result of its common stock closing at a price of $0.10 or below for ten consecutive trading
days. The Company timely appealed the determination and has a hearing scheduled for January 13, 2026. Although no guarantees can be offered,
the Company believes that the Share Consolidation will assist the Company in regaining compliance under the Nasdaq Listing Rule and will
enable the Company to maintain its Nasdaq listing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Share Consolidation will reduce
the issue and outstanding number of ordinary shares of the Company from 234,309,902 pre-consolidation Class A ordinary shares to approximately
4,686,199 post-consolidation Class A ordinary shares, subject to adjustments for rounding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">A copy of the press release is
attached hereto as Exhibit 99.1.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Incorporation by Reference</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">This report and Exhibit 99.1 to
this Form 6-K shall be deemed to be incorporated by reference in the registration statements of on Form S-8 (File No. <A HREF="http://www.sec.gov/Archives/edgar/data/1738758/000121390024082774/0001213900-24-082774-index.htm">333-282386</A>) and
on Form F-3 (File No. <A HREF="http://www.sec.gov/Archives/edgar/data/1738758/000121390024040929/0001213900-24-040929-index.htm">333-279221</A>), each as filed with the Securities and Exchange Commission, to the extent not superseded by documents
or reports subsequently filed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Exhibit Index</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 8%; border-bottom: black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Exhibit No.</B></FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 91%; border-bottom: black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Description</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">99.1</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><A HREF="ea026990801ex99-1_cheerhold.htm">Press Release dated December 19, 2025</A></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Pursuant to the requirements of
the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto
duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Cheer Holding, Inc.</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 35%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: black 1.5pt solid">/s/ Bing Zhang</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Bing Zhang</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief Executive Officer</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dated: December 19, 2025 &nbsp; </FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>ea026990801ex99-1_cheerhold.htm
<DESCRIPTION>PRESS RELEASE DATED DECEMBER 19, 2025
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<P STYLE="text-align: right; margin: 0"><B>Exhibit 99.1</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Press Release</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Cheer Holding Announces Share Consolidation of</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Class A Ordinary Shares</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><I>Class A Ordinary Shares Will Begin Trading on a
Post-Consolidation Adjusted Basis on<BR>
December 23, 2025</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">BEIJING, Dec. 19, 2025 (GLOBE NEWSWIRE) -- Cheer
Holding, Inc. (NASDAQ: CHR) (&ldquo;Cheer Holding,&rdquo; &ldquo;we&rdquo; or the &ldquo;Company&rdquo;), a leading provider of next-generation
mobile internet infrastructure and platform services, today announced that it intends to effect a share consolidation of its ordinary
shares at a ratio of 1 post-split Class A ordinary share for every 50 pre-split ordinary shares (the &ldquo;Share Consolidation&rdquo;)
so that every fifty (50) shares issued and outstanding will be combined into one (1) share. The Share Consolidation will become effective
at 4:05 p.m. (New York time) on December 22, 2025 (the &ldquo;Effective Time&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company&rsquo;s Class A ordinary shares will continue
to be traded on the Nasdaq Capital Market (&ldquo;Nasdaq&rdquo;) under the symbol &ldquo;CHR&rdquo; and will begin trading on a post-consolidation
adjusted basis when the market opens on Tuesday, December 23, 2025. The CUSIP number for the Company&rsquo;s Class A ordinary shares following
the Share Consolidation will be G29973121.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As a result of the share consolidation the number
of issued and outstanding Class A ordinary shares of the Company will be reduced from 234,309,902 pre-consolidation Class A ordinary shares
to approximately 4,686,199 post-consolidation Class A ordinary shares, subject to adjustments for rounding. Outstanding warrants and other
outstanding equity rights will be proportionately adjusted to reflect the Share Consolidation. No fractional shares will be issued as
a result of the Share Consolidation. Instead, any fractional shares that would have resulted from the Share Consolidation will be rounded
up to the next whole number. Upon the effectiveness of the Share Consolidation, the Company&rsquo;s authorized share capital became US$500,700
divided into 10,000,000 Class A ordinary shares of a par value of US$0.05 each; 500,000 Class B ordinary shares of a par value of US$0.001
each; and 2,000,000 preferred shares of a par value of US$0.0001 each.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Share Consolidation is primarily intended to increase
the Company&rsquo;s per share trading price in order to maintain its listing on Nasdaq. As previously disclosed, on November 19, 2025,
the Company received a notification letter from the Listing Qualifications Department of Nasdaq notifying the Company that the Staff has
determined to delist the Company&rsquo;s common stock from the Nasdaq Capital Market as a result of its common stock closing at a price
of $0.10 or below for ten consecutive trading days. The Company appealed the determination and has a hearing scheduled for January 13,
2026. Although no guarantees can be offered, the Company believes that this Share Consolidation will allow it to regain compliance with
the Nasdaq continued listing requirements and will enable the Company to maintain its Nasdaq listing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Shareholders
holding their shares in book-entry form or in &ldquo;street name&rdquo; (through a broker, bank or other holder of record) will have their
shares automatically adjusted to reflect the Share Consolidation. Shareholders of record may direct questions concerning the Share Consolidation</FONT>&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif">to
the Company&rsquo;s transfer agent, Continental Stock Transfer &amp; Trust Company.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><B>About&nbsp;Cheer Holding,
Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0">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 &ldquo;platforms, applications, technology, and industry&rdquo; 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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0">Cheer Holding&rsquo;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 &ldquo;online/offline&rdquo; and &ldquo;virtual/reality&rdquo;
elements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0">With &ldquo;CHEERS+&rdquo; at
the core of Cheer Holding&rsquo;s digital ecosystem, the Company is committed to utilizing innovative product applications and technologies
to drive its long-term sustainable and scalable growth.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Safe Harbor Statement</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Certain statements in this announcement are forward-looking
statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and
projections about future events and financial trends that the Company believes may affect its financial condition, results of operations,
business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as &ldquo;may,&rdquo;
&ldquo;will,&rdquo; &ldquo;expect,&rdquo; &ldquo;anticipate,&rdquo; &ldquo;aim,&rdquo; &ldquo;estimate,&rdquo; &ldquo;intend,&rdquo; &ldquo;plan,&rdquo;
&ldquo;believe,&rdquo; &ldquo;potential,&rdquo; &ldquo;continue,&rdquo; &ldquo;is/are likely to&rdquo; or other similar expressions. These
forward-looking statements include, but are not limited to, that the Share Consolidation will enable the Company to meet the minimum bid
price requirement under the Nasdaq continued listing standards, or that the Company will be able to continue to have its Class A ordinary
shares listed on The Nasdaq Capital 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&rsquo;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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">For investor and media inquiries, please contact:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Wealth Financial Services LLC</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Connie Kang, Partner</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Email: ckang@wealthfsllc.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Tel: +86 1381 185 7742 (CN)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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