BEIJING, Feb. 06, 2024 (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 its subsidiary, Glory Star (Beijing) Media Co., Ltd., has been granted the prestigious designation of National High-Tech Enterprise for the second time.

Under the provisions of the Enterprise Income Tax Law of the People's Republic of China and the relevant tax incentives for high-tech enterprises, this recognition entitles the Company to benefit from national policies aimed at promoting high-tech businesses, thereby strengthening its financial performance.

The consecutive recognition of Cheer Holding's subsidiaries as National High-Tech Enterprises serves as a testament to the Company's unwavering commitment to technological innovation, research and development prowess, and industry leadership. This prestigious recognition will expedite the transformation of the Company's technological advancements into practical solutions, bolstering its overall competitiveness and yielding positive results for its business growth.

The reiteration of Cheer Holding's recognition as a National High-Tech Enterprise not only highlights the Company's prominent position in the industry but also underscores its commitment to driving technological advancement and contributing to the overall development of China's digital economy.