<SEC-DOCUMENT>0001398344-25-018959.txt : 20251007
<SEC-HEADER>0001398344-25-018959.hdr.sgml : 20251007
<ACCEPTANCE-DATETIME>20251007161346
ACCESSION NUMBER:		0001398344-25-018959
CONFORMED SUBMISSION TYPE:	SCHEDULE 13G/A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20251007
DATE AS OF CHANGE:		20251007

SUBJECT COMPANY:	

	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:		SCHEDULE 13G/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-90609
		FILM NUMBER:		251379998

	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

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SHAH CAPITAL MANAGEMENT
		CENTRAL INDEX KEY:			0001383838
		ORGANIZATION NAME:           	
		EIN:				201804775
		STATE OF INCORPORATION:			NC
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13G/A

	BUSINESS ADDRESS:	
		STREET 1:		2301 SUGAR BUSH RD
		STREET 2:		SUITE 510
		CITY:			RALEIGH
		STATE:			NC
		ZIP:			27612
		BUSINESS PHONE:		919 719 6360

	MAIL ADDRESS:	
		STREET 1:		2301 SUGAR BUSH RD
		STREET 2:		SUITE 510
		CITY:			RALEIGH
		STATE:			NC
		ZIP:			27612
</SEC-HEADER>
<DOCUMENT>
<TYPE>SCHEDULE 13G/A
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/schedule13g" xmlns:com="http://www.sec.gov/edgar/common">
  <headerData>
    <submissionType>SCHEDULE 13G/A</submissionType>
    <filerInfo>
      <filer>
        <filerCredentials>
          <!-- Field: Pseudo-Tag; ID: Name; Data: SHAH CAPITAL MANAGEMENT -->
          <cik>0001383838</cik>
          <ccc>XXXXXXXX</ccc>
        </filerCredentials>
      </filer>
      <liveTestFlag>LIVE</liveTestFlag>


    </filerInfo>
  </headerData>
  <formData>
    <coverPageHeader>
      <amendmentNo>7</amendmentNo>
      <securitiesClassTitle>Ordinary Shares, par value $0.001</securitiesClassTitle>
      <eventDateRequiresFilingThisStatement>10/03/2025</eventDateRequiresFilingThisStatement>
      <issuerInfo>
        <issuerCik>0001738758</issuerCik>
        <issuerName>Cheer Holding, Inc.</issuerName>
        <issuerCusip>G39973204</issuerCusip>
        <issuerPrincipalExecutiveOfficeAddress>
          <com:street1>22nd Floor, Block B, XINHUA TECH BLDG</com:street1>
          <com:street2>NO. 8 TUOFANGYING ROAD</com:street2>
          <com:city>CHAOYANG DISTRICT</com:city>
          <com:stateOrCountry>F4</com:stateOrCountry>
          <com:zipCode>F-4 00000</com:zipCode>
        </issuerPrincipalExecutiveOfficeAddress>
      </issuerInfo>
      <designateRulesPursuantThisScheduleFiled>
        <designateRulePursuantThisScheduleFiled>Rule 13d-1(b)</designateRulePursuantThisScheduleFiled>
      </designateRulesPursuantThisScheduleFiled>
    </coverPageHeader>
    <coverPageHeaderReportingPersonDetails>


      <reportingPersonName>Shah Capital Management</reportingPersonName>
      <citizenshipOrOrganization>NC</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>600000.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>600000.00</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>600000.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>2.47</classPercent>
      <typeOfReportingPerson>IA</typeOfReportingPerson>
    </coverPageHeaderReportingPersonDetails>
    <coverPageHeaderReportingPersonDetails>


      <reportingPersonName>Shah Capital Opportunity Fund LP</reportingPersonName>
      <citizenshipOrOrganization>DE</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>600000.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>600000.00</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>600000.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>2.47</classPercent>
      <typeOfReportingPerson>PN</typeOfReportingPerson>
    </coverPageHeaderReportingPersonDetails>
    <items>
      <item1>
        <issuerName>Cheer Holding, Inc.</issuerName>
        <issuerPrincipalExecutiveOfficeAddress>22F, Block B, Xinhua Technology Building, No. 8 Tuofangying South Road, Jiuxianqiao, Chaoyang District, Beijing, China 100016</issuerPrincipalExecutiveOfficeAddress>
      </item1>
      <item2>
        <filingPersonName>(i) Shah Capital Management, Inc. ("Shah Capital")
(ii) Shah Capital Opportunity Fund LP ("Shah Opportunity")</filingPersonName>
        <principalBusinessOfficeOrResidenceAddress>2301 Sugar Bush Rd., Ste 510, Raleigh, NC, 27612</principalBusinessOfficeOrResidenceAddress>
        <citizenship>Shah Capital is a North Carolina corporation; Shah Opportunity is a Delaware limited partnership</citizenship>
      </item2>
      <item3>
        <notApplicableFlag>N</notApplicableFlag>
        <typeOfPersonFiling>IA</typeOfPersonFiling>
      </item3>
      <item4>
        <amountBeneficiallyOwned>(i) Shah Capital: 600,000
(ii) Shah Opportunity: 600,000</amountBeneficiallyOwned>
        <classPercent>(i) Shah Capital: 2.47  %
(ii) Shah Opportunity: 2.47</classPercent>
        <numberOfSharesPersonHas>
          <solePowerOrDirectToVote>(i) Shah Capital: 0
(ii) Shah Opportunity: 0</solePowerOrDirectToVote>
          <sharedPowerOrDirectToVote>(i) Shah Capital: 600,000
(ii) Shah Opportunity: 600,000</sharedPowerOrDirectToVote>
          <solePowerOrDirectToDispose>(i) Shah Capital: 0
(ii) Shah Opportunity: 0</solePowerOrDirectToDispose>
          <sharedPowerOrDirectToDispose>(i) Shah Capital: 600,000
(ii) Shah Opportunity: 600,000</sharedPowerOrDirectToDispose>
        </numberOfSharesPersonHas>
      </item4>
      <item5>
        <notApplicableFlag>N</notApplicableFlag>
        <classOwnership5PercentOrLess>Y</classOwnership5PercentOrLess>
      </item5>
      <item6>
        <notApplicableFlag>N</notApplicableFlag>
        <ownershipMoreThan5PercentOnBehalfOfAnotherPerson>Not applicable.</ownershipMoreThan5PercentOnBehalfOfAnotherPerson>
      </item6>
      <item7>
        <notApplicableFlag>N</notApplicableFlag>
        <subsidiaryIdentificationAndClassification>Not applicable.</subsidiaryIdentificationAndClassification>
      </item7>
      <item8>
        <notApplicableFlag>N</notApplicableFlag>
        <identificationAndClassificationOfGroupMembers>Not applicable.</identificationAndClassificationOfGroupMembers>
      </item8>
      <item9>
        <notApplicableFlag>N</notApplicableFlag>
        <groupDissolutionNotice>Not applicable.</groupDissolutionNotice>
      </item9>
      <item10>
        <notApplicableFlag>N</notApplicableFlag>
        <certifications>By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.</certifications>
      </item10>
    </items>
    <signatureInformation>
      <reportingPersonName>Shah Capital Management</reportingPersonName>
      <signatureDetails>
        <signature>/s/ Himanshu H. Shah</signature>
        <title>Himanshu H. Shah, President and Chief Investment Officer</title>
        <date>10/07/2025</date>
      </signatureDetails>
    </signatureInformation>
    <signatureInformation>
      <reportingPersonName>Shah Capital Opportunity Fund LP</reportingPersonName>
      <signatureDetails>
        <signature>/s/ Himanshu H. Shah</signature>
        <title>Himanshu H. Shah, Managing Member</title>
        <date>10/07/2025</date>
      </signatureDetails>
    </signatureInformation>
  </formData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
