olivLaw · US equity research
Cheer Holding, Inc. CHR
Services-Computer Processing & Data Preparation · SIC 7374 · Vertical: Services-Computer Processing & Data Preparation (SIC 7374)
Cheer Holding, Inc. runs a mobile and online advertising, media and entertainment business in China, centred on original content and the CHEERS app. Its revenues were about 148.8 million USD in fiscal 2025, almost entirely from advertising, in a context of cost pressure on advertisers.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 04 Nov 2026, Cheer Holding, Inc. (CHR) stock was 1.39 USD (+0.72% on the day), with market capitalisation 14.0 m USD, P/E 0.1 on diluted EPS of 24.07 USD over the last 12 months, beta 0.88, 52-week range 1.20–10.50 USD. Latest reported quarter (Q1 2020): revenue of 9.8 m USD (−29.1% YoY), net income of 2.9 m USD (−30.0% YoY), diluted EPS 0.06 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 46.5
- neutral
- Bollinger (20, 2)
- 1.13 – 1.68
- in the lower half of the band · %B 0.48 · band width 39.3%
- SMA 50 / 200
- 1.56 / 2.29
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -0.07 / -0.08
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −10.3% | −1.1% | −9.2 pp | — |
| 3 months | −22.8% | −0.5% | −22.3 pp | — |
| 6 months | −22.8% | +4.4% | −27.2 pp | — |
| Year to date | −63.8% | +12.3% | −76.1 pp | — |
| 1 year | −93.4% | +13.5% | −106.9 pp | −24.7% |
| 3 years | −99.7% | +76.4% | −176.1 pp | −26.7% |
| 5 years | −99.9% | +63.7% | −163.6 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q1 2020 · 31 Mar 2020
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q1 '19 | Q2 '19 | Q3 '19 | Q4 '19 | Q1 '20 |
|---|---|---|---|---|---|
| Revenue | 13.8 m | — | — | — | 9.8 m |
| Cost of revenue | 8.2 m | — | — | — | 5.0 m |
| Research & development | 197.0 k | — | — | — | 206.0 k |
| SG&A | 15.0 k | 0 ≈ | 0 ≈ | — | — |
| Operating income | 4.4 m | -482.8 k | -690.5 k | 28.3 m | 2.9 m |
| Depreciation & amortisation | 61.0 k | — | — | — | 448.0 k |
| Pre-tax income | 4.3 m | — | — | — | 2.8 m |
| Income tax | 172.0 k | — | — | — | -5.0 k |
| Net income | 4.1 m | 1.2 m | 552.3 k | 23.4 m | 2.9 m |
| Diluted EPS | 0.09 | — | — | — | 0.06 |
| Operating cash flow | 2.7 m | -3.3 m ≈ | -593.8 k ≈ | 27.3 m | -1.1 m |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 0 percentile of its own 7-quarter history (min 0.2, median 327.8, max 26,947.4; quarters with earnings only).
Fiscal years
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Revenue | 65.8 m | 123.8 m | 153.0 m | 157.1 m | 152.3 m | 147.2 m | 148.8 m |
| Revenue YoY | unavailable | +88.2% | +23.6% | +2.7% | −3.0% | −3.4% | +1.1% |
| Net income | 26.3 m | 49.0 m | 35.3 m | 26.9 m | 30.5 m | 26.0 m | 25.6 m |
| Net income YoY | unavailable | +86.1% | −28.0% | −23.8% | +13.3% | −14.8% | −1.3% |
| Diluted EPS | 0.57 | 0.83 | 5.40 | 3.95 | 150.31 | 125.72 | 24.07 |
| Diluted EPS YoY | unavailable | +45.6% | +550.6% | −26.9% | +3,705.3% | −16.4% | −80.9% |
| net % | 40.0% | 39.6% | 23.1% | 17.1% | 20.0% | 17.6% | 17.2% |
| Free cash flow | unavailable | unavailable | 46.4 m | 7.7 m | 42.2 m | 22.9 m | unavailable |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 242.1 m USD
- Financial debt
- 7.7 m USD
- Net debt
- -234.4 m USD
- Equity
- 369.8 m USD
- Total assets
- 401.7 m USD
- Debt / equity
- 0.02x
- Current ratio
- 11.53x
- ROE
- 7.6%
- ROA
- 6.8%
- FCF margin
- unavailable
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 123.8 m | 153.0 m | 157.1 m | 152.3 m | 147.2 m | 148.8 m | SEC (XBRL)· 20 Mar 2026verified |
| Cost of revenue | — | 34.9 m | 40.6 m | 39.5 m | 39.4 m | 43.2 m | SEC (XBRL)· 20 Mar 2026verified |
| Gross profit | — | 118.1 m ≈ | 116.5 m ≈ | 112.8 m ≈ | 107.8 m ≈ | 105.6 m ≈ | SEC (XBRL)· 20 Mar 2026derived |
| Research & development | 691.0 k | 920.0 k | 1.3 m | 1.6 m | 3.4 m | 5.2 m | SEC (XBRL)· 20 Mar 2026verified |
| Operating income | 30.7 m | 36.3 m | 26.7 m | 29.3 m | 25.6 m | 26.3 m | SEC (XBRL)· 20 Mar 2026verified |
| Depreciation & amortisation | 2.9 m | 2.1 m | 2.9 m | 3.4 m | 3.8 m | 6.9 m | SEC (XBRL)· 20 Mar 2026verified |
| EBITDA | 33.6 m ≈ | 38.4 m ≈ | 29.6 m ≈ | 32.7 m ≈ | 29.4 m ≈ | 33.2 m ≈ | SEC (XBRL)· 20 Mar 2026derived |
| Interest expense | 282.0 k | 513.0 k | 93.0 k | 271.0 k | 372.0 k | 366.0 k | SEC (XBRL)· 20 Mar 2026verified |
| Pre-tax income | 50.6 m | 36.3 m | 26.9 m | 30.6 m | 25.9 m | 25.7 m | SEC (XBRL)· 20 Mar 2026verified |
| Income tax | 1.7 m | 976.0 k | 413.0 k | 61.0 k | -34.0 k | 73.0 k | SEC (XBRL)· 20 Mar 2026verified |
| Net income | 49.0 m | 35.3 m | 26.9 m | 30.5 m | 26.0 m | 25.6 m | SEC (XBRL)· 20 Mar 2026verified |
| Diluted EPS | 0.83 | 5.40 | 3.95 | 150.31 | 125.72 | 24.07 | SEC (XBRL)· 20 Mar 2026verified |
| Weighted average diluted shares | 59.1 m | 6.5 m | 6.8 m | 172.8 k | 206.5 k | 1.1 m | SEC (XBRL)· 20 Mar 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Revenue − Cost of revenue; Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 17.7 m | 77.3 m | 70.5 m | 194.5 m | 197.7 m | 242.1 m | SEC (XBRL)· 20 Mar 2026verified |
| Receivables | — | — | — | 81.2 m | 77.1 m | 79.7 m | SEC (XBRL)· 20 Mar 2026verified |
| Current assets | 103.1 m | 153.5 m | 183.8 m | 306.9 m | 305.6 m | 366.6 m | SEC (XBRL)· 20 Mar 2026verified |
| Property, plant & equipment, net | 251.0 k | 242.0 k | 160.0 k | 85.0 k | 33.0 k | 17.0 k | SEC (XBRL)· 20 Mar 2026verified |
| Intangibles (excl. goodwill) | 15.6 m | 16.7 m | 20.3 m | 20.3 m | 40.5 m | 34.7 m | SEC (XBRL)· 20 Mar 2026verified |
| Total assets | 143.4 m | 195.2 m | 206.0 m | 327.6 m | 346.6 m | 401.7 m | SEC (XBRL)· 20 Mar 2026verified |
| Accounts payable | 7.9 m | 12.9 m | 6.4 m | 9.6 m | 2.0 m | 2.7 m | SEC (XBRL)· 20 Mar 2026verified |
| Short-term debt | — | — | 6.1 k | 4.7 m | 12.5 m | 7.7 m | SEC (XBRL)· 20 Mar 2026verified |
| Long-term debt | — | — | — | 1.4 m | — | — | SEC (XBRL)· 14 Mar 2024verified |
| Current liabilities | 35.4 m | 34.6 m | 32.9 m | 46.2 m | 39.9 m | 31.8 m | SEC (XBRL)· 20 Mar 2026verified |
| Total liabilities | 38.9 m | 35.7 m | 33.5 m | 47.6 m | 41.5 m | 31.9 m | SEC (XBRL)· 20 Mar 2026verified |
| Equity | 104.4 m | 159.5 m | 172.5 m | 280.0 m | 305.1 m | 369.8 m | SEC (XBRL)· 20 Mar 2026verified |
| Shares outstanding at year end | 57.9 m | 68.1 m | 68.1 m | 10.1 m | — | — | SEC (XBRL)· 14 Mar 2024verified |
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 8.7 m | 46.5 m | 7.7 m | 42.2 m | 22.9 m | 17.9 m | SEC (XBRL)· 20 Mar 2026verified |
| Capex | — | 72.0 k | 25.0 k | 3.0 k | 1.0 k | — | SEC (XBRL)· 10 Mar 2025verified |
| Free cash flow | — | 46.4 m ≈ | 7.7 m ≈ | 42.2 m ≈ | 22.9 m ≈ | — | SEC (XBRL)· 10 Mar 2025derived |
| Investing cash flow | -4.4 m | -1.1 m | -8.0 m | -3.0 k | -24.9 m | -709.0 k | SEC (XBRL)· 20 Mar 2026verified |
| Financing cash flow | 5.4 m | 13.3 m | 508.0 k | 82.0 m | 10.6 m | 17.8 m | SEC (XBRL)· 20 Mar 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
4 indicators that do not apply to the sector.
Valuation
olivLaw classification
Score: 67 / 100
A scoring methodology on indicators and valuation, not investment advice.
score >= 65 · margin_of_safety >= 0.15 · agreement in ['high', 'medium']
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 14.0 m USD
Key indicators
Coverage and freshness
Score by group
- Balance sheet100
- Growth7
- Valuation100
- Quality72
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 35.65 – 69.11 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)47.34 – 63.33 (Mid 53.22)WACC 8.1% · starting FCFF 18.3 m USD · terminal value share of EV 76%The WACC × g sensitivity gives the method's bounds; these are not probabilities.Reverse DCF: no growth between −30% and +40% justifies the price
- Peers: EV/Sales35.65 – 56.76 (Mid 44.71)12 companies used · median multiple 1.5x · quartiles 0.8x – 2.3xADP, CARS, CLVT, EGHT, FA, GMHS, IBEX, OOMA, PLTK, UPWK, WDAY, YEXT
- Peers: EV/EBITDA46.04 – 69.11 (Mid 53.80)8 companies used · median multiple 9.3x · quartiles 6.9x – 13.9xCARS, CLVT, EGHT, FA, GMHS, IBEX, UPWK, VRSK
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Attractive profile · Score 67/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| Gross margin · Quality | 71.0% | 77 (on a fixed band) | 11% |
| EBIT margin · Quality | 17.7% | 89 (vs peers) | 9% |
| FCF margin · Quality | 12.1% | 48 (on a fixed band) | 9% |
| Revenue CAGR 3Y · Growth | -1.8% | 0 (on a fixed band) | 18% |
| Revenue growth (YoY) · Growth | 1.1% | 22 (vs peers) | 9% |
| Net debt / EBITDA · Balance sheet | -7.1x | 100 (vs peers) | 7% |
| Current ratio · Balance sheet | 11.5x | 100 (on a fixed band) | 7% |
| EV/Sales · Valuation | -1.5x | 100 (vs peers) | 18% |
| FCF yield · Valuation | 128.2% | 100 (on a fixed band) | 13% |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet100/100 · 2/2 factors with a value
- Growth7/100 · 2/2 factors with a value
- Quality72/100 · 3/3 factors with a value
- Returns· partialunavailable · 0/1 factors with a value
- Valuation100/100 · 2/2 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
Cheer Holding, Inc. (CHR). Latest full fiscal year: 2025; data up to 2025-12-31.
Figures computed from the financial statements: revenue 148.8 m USD in 2025; YoY growth 1.1%; net margin 17.2%; ROE 7.6%; net debt/EBITDA -7.1x.
The estimated value range is 46.04–63.33 USD per share (median of 3 methods, agreement: high); assumptions are illustrative. Against the central value of 53.22 USD, the price of 1.39 USD leaves a potential of 3,728.5% (value / price − 1) and a margin of safety of 97.4% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 67/100, methodological classification: attractive profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: returns. Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Gross margin: 71.0%
- EBIT margin: 17.7%
- Net debt / EBITDA: -7.1x
- Current ratio: 11.5x
- EV/Sales: -1.5x
- FCF yield: 128.2%
- The price is below the estimated value range
What contradicts it
- Revenue CAGR 3Y: -1.8%
- Revenue growth (YoY): 1.1%
Not assessed (insufficient data or a ratio without meaning): Shareholder yield (distributions).
Versus the vertical median
Services-Computer Processing & Data Preparation (SIC 7374) · same industry (4-digit SIC) · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| ADPAutomatic Data Processing, Inc. | 119.8 bn | 27.7 | 77.0% | 20.1% | +6.7% | +19% / +32% |
| WDAYWorkday, Inc. | 44.4 bn | 40.9 | 16.0% | 12.3% | +13.1% | −6% / −25% |
| VRSKVerisk Analytics, Inc. | 25.9 bn | 30.1 | — | 29.3% | +6.6% | −12% / −18% |
| FIRYFiry Inc. | 4.3 bn | — | -63.0% | -60.2% | +12.5% | +107% / +94% |
| FAFirst Advantage Corp | 3.9 bn | 160.5 | 1.9% | 1.5% | +83.0% | +62% / +45% |
| FIVNFive9, Inc. | 2.7 bn | 52.7 | 7.9% | 4.9% | +10.3% | +86% / −52% |
| RAMPLiveRamp Holdings, Inc. | 2.3 bn | 15.8 | 16.2% | 18.7% | +9.0% | +41% / +39% |
| INFQInfleqtion, Inc. | 1.9 bn | — | -70.8% | — | unavailable | unavailable / unavailable |
| INODInnodata Inc | 1.5 bn | 32.8 | 37.7% | 14.7% | +47.6% | −25% / +541% |
| CLVTClarivate PLC | 1.4 bn | — | -8.2% | -15.1% | −4.0% | −44% / −73% |
| UPWKUpwork Inc. | 1.3 bn | 12.9 | 16.3% | 13.5% | +2.4% | −48% / −27% |
| LZLegalZoom.com, Inc. | 1.1 bn | 56.0 | 12.1% | 2.6% | +10.9% | −26% / −40% |
| PLTKPlaytika Holding Corp. | 808.6 m | — | — | -9.9% | +8.1% | −48% / −76% |
| YEXTYext, Inc. | 775.0 m | 40.6 | 27.8% | 5.9% | +6.1% | −7% / +18% |
| NRDSNerdWallet, Inc. | 754.4 m | 13.3 | 18.2% | 7.6% | +21.7% | −21% / +1% |
| NXTTNext Technology Holding Inc. | 736.5 m | — | -59.4% | -2,356.0% | +545.3% | −99% / −100% |
| CARSCars.com Inc. | 682.5 m | 22.4 | 7.4% | 4.7% | +0.6% | +10% / −32% |
| IBEXIBEX Limited | 593.6 m | 14.3 | 30.4% | 7.2% | +15.4% | +27% / +152% |
| OOMAOoma, Inc. | 524.7 m | 49.8 | 11.7% | 3.6% | +6.5% | +69% / +64% |
| GRVYGravity Co., Ltd. | 475.7 m | 0.0 | 16.5% | 17.0% | −31.0% | +19% / −6% |
| EGHT8x8, Inc. | 326.4 m | 55.5 | 3.5% | 0.6% | +2.9% | +16% / −27% |
| TCXTucows Inc | 140.3 m | — | — | -21.2% | +7.7% | −42% / −41% |
| TRAKRepositrak, Inc. | 132.7 m | 18.7 | 14.9% | 32.5% | +3.0% | −46% / −29% |
| BIRDSmartbird, Inc. | 92.1 m | — | -164.0% | -72.8% | −19.7% | −68% / −91% |
| VERIVeritone, Inc. | 56.7 m | — | -517.7% | -117.5% | −0.5% | −87% / −73% |
1- and 3-year price returns: for CHR from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 0.08 Total return -94% · Per year -94% | 0.14 Total return -90% · Per year -90% | 0.22 Total return -84% · Per year -84% |
| 3 years | 0.07 Total return -95% · Per year -63% | 0.14 Total return -90% · Per year -54% | 0.23 Total return -83% · Per year -45% |
| 5 years | 0.06 Total return -96% · Per year -47% | 0.13 Total return -90% · Per year -37% | 0.25 Total return -82% · Per year -29% |
- Exit P/E± 0.03
- Net margin± 0.02
- Annual revenue growth± 0.02
- Annual dilution± 0.00
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 20 Mar 2026; since then the company filed 6-K (17 Sept 2026), 6-K (28 Jul 2026), 6-K (10 Jul 2026), 6-K (08 Jul 2026), 6-K (18 Jun 2026), 6-K (02 Apr 2026).
In brief
Cheer Holding, Inc. runs a mobile and online advertising, media and entertainment business in China, centred on original content and the CHEERS app. Its revenues were about 148.8 million USD in fiscal 2025, almost entirely from advertising, in a context of cost pressure on advertisers. 1
SWOT
Strengths
- The company has an established user base around the CHEERS app and a heavy reliance on advertising, with a high operating margin in its main segment. 1
- Management has invested in proprietary AI technology, which could differentiate the company in content production. 1
- Recognition as a National High-Tech Enterprise and a Specialized and Innovative Enterprise could reinforce its position. 1
Weaknesses
Opportunities
Risks
- Dependence on advertisinghigh
Nearly all revenue comes from advertising, and clients can reduce budgets without contractual penalties. 1
- Heavy capital needshigh
Costly content production may require additional financing, and a shortfall could limit growth plans. 1
- Client credit riskmedium
Collection of receivables depends on the solvency of advertising clients and agencies, which could affect liquidity. 1
- Dependence on senior managementmedium
Success depends on senior executives, and losing key people could affect operations. 1
- Listing compliancemedium
The company received a Nasdaq notice in November 2025 for non-compliance with the minimum bid price, later resolved through a share consolidation. 1
Investment thesis
What would need to be true (bull case)
- If advertising revenue recovers, the company could benefit from its large user base and solid operating margin in its main segment. 1
- Investment in AI and international expansion could open new sources of revenue. 1
- Lower marketing spending could support profitability if user acquisition remains efficient. 1
What to watch
- Trajectory of advertising revenue and client budgets2026
- Timing and results of the beta test of the global AI portrait and video products2026
- Implementation of the share consolidation and reduction approved in March 20262026
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 20 Mar 2026; since then the company filed 6-K (17 Sept 2026), 6-K (28 Jul 2026), 6-K (10 Jul 2026), 6-K (08 Jul 2026), 6-K (18 Jun 2026), 6-K (02 Apr 2026).
The business
The company provides advertising and content production services and earns revenue from copyright licensing of self-produced content, advertising and customised content production, the CHEERS e-Mall marketplace, membership fees and other sources. 1
Through the CHEERS app, launched in 2018, Cheer has positioned itself as a content-driven e-commerce platform built on original lifestyle content. Its strategy also includes AI initiatives such as CHEERS Telepathy, upgraded in October 2025 on the Polaris Intelligent Cloud 3.0 model. 1
Management has said that from 2026 it shifts its strategic focus towards overseas expansion, and the company notes a global AI portrait and video product line could begin beta testing around the second fiscal quarter of 2026. 1
Segments
Traditional Media Business
This segment covers advertising tied to TV series, copyright revenue, customised content production and other income. At about 11.4 million USD of revenue in 2025 it is a small segment with lower operating income. 1
Market context
The company operates in China's online advertising and mobile entertainment market, competing for users, usage time, advertising clients and shoppers. Its revenue is sensitive to advertising budgets, which clients can cut in periods of economic strain, according to its 2025 report. 1
Growth in professionally produced content from third parties is a market factor that could intensify competition for user attention and advertising clients. The company also notes that video streaming platforms compete aggressively to license content. 1
Trends
- Pressure on advertising budgetsheadwind
Clients adopted cost-saving strategies because of a weaker macroeconomic environment, which contributed to only modest revenue growth. If this trend persists, advertising revenue could remain under pressure. 1
- Artificial intelligence in content productiontailwind
Successive releases of CHEERS Telepathy and the Polaris 3.0 model show continued investment in generative AI for content and advertising. This direction could support production efficiency and client acquisition. 1
- International expansionmixed
Management has indicated a shift of focus towards global expansion from 2026, which could open new markets but also brings costs and execution risks not yet fully known. 1
- Lower marketing costsmixed
Selling and marketing expenses fell in 2025, mainly because the company cut promotion campaigns it considers less effective. This supports margins but could weigh on user acquisition if prolonged. 1
Competitive position
Some rivals have a longer operating history and far greater financial resources, which could let them attract more users and clients. Major television stations expanding their online video offerings are also a competitive force. 1
- AlibabaBABA
Competitor for users, usage time, advertising clients and shoppers, with a longer operating history and greater resources according to the source. 1
- Pin DuoduoPDD
Competitor in e-commerce and for user attention, explicitly named in the risk factors. 1
- DouyuDOYU
Competitor in live streaming and in the contest for users and advertising. 1
- Mango Media
Media operator listed in Shenzhen, competing in content and advertising in China. 1
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
No news in our archive over the last 180 days.
SEC filings
- Current report (foreign issuer)17 Sept 2026
- Current report (foreign issuer)28 Jul 2026
- Current report (foreign issuer)10 Jul 2026
- Current report (foreign issuer)08 Jul 2026
- Current report (foreign issuer)18 Jun 2026
- Current report (foreign issuer)02 Apr 2026
- Current report (foreign issuer)23 Mar 2026
- Annual report (foreign issuer)20 Mar 2026
- Current report (foreign issuer)16 Mar 2026
- Current report (foreign issuer)27 Feb 2026
Sources
- [1] Form 20-F, fiscal year ended 2025-12-31 · SEC / Cheer Holding, Inc. · 20 Mar 2026
- [2] Form 8-K, results release (exhibit 99.1) · SEC / Cheer Holding, Inc. · 11 May 2020
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.