Overview
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- TickerCHR on Nasdaq1
- IndustryServices-Computer Processing & Data Preparation1
- HeadquartersBeijing, China1
- Incorporated inCayman Islands3
- Business address19F, Block B, Xinhua Technology Building, No. 8 Tuofangying South Rd, Jiuxianqiao, Chaoyang District, Beijing, F4 1000163
- Filer categoryNon-accelerated filer3
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Holdings”) acquired 100% of the equity interests of Glory Star from the Sellers.4 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue29¢$43.2M
- Research and development3¢$5.2M
- Other costs50¢$74.8M
- Income tax0¢$73.0K
- Profit17¢$25.6M
Out of $148.8M in revenue.2
Where each dollar of operating cash went, fiscal 2025
- Kept or used elsewhere100¢$17.9M
Out of $17.9M of cash from operations.2
Financial statements
No quarterly figures reported.
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $65.8M5 | $123.8M6 | $153.0M7 | $157.1M8 | $152.3M2 | $147.2M2 | $148.8M2 | |
| Cost of revenue | $34.9M7 | $40.6M8 | $39.5M2 | $39.4M2 | $43.2M2 | |||
| Research and development | $749.0K5 | $691.0K6 | $920.0K7 | $1.3M8 | $1.6M2 | $3.4M2 | $5.2M2 | |
| Operating expenses | $116.7M7 | $130.4M7 | $123.0M7 | $121.6M2 | $122.5M2 | |||
| Operating income | $26.8M5 | $30.7M6 | $36.3M7 | $26.7M8 | $29.3M2 | $25.6M2 | $26.3M2 | |
| Interest | $295.0K5 | $282.0K6 | $513.0K6 | $93.0K6 | ||||
| Income before tax | $36.3M7 | $26.9M8 | $30.6M2 | $25.9M2 | $25.7M2 | |||
| Income tax | $191.0K5 | $1.7M6 | $976.0K7 | $413.0K8 | $61.0K2 | -$34.0K2 | $73.0K2 | |
| Net income | $26.3M5 | $49.0M6 | $35.3M7 | $26.9M8 | $30.5M2 | $26.0M2 | $25.6M2 | |
| Earnings per share | $0.645 | $0.916 | $5.407 | $3.958 | $150.312 | $125.722 | $24.072 | |
| Earnings per share (diluted) | $0.575 | $0.836 | $5.407 | $3.958 | $150.312 | $125.722 | $24.072 | |
| Shares (weighted, basic) | 6.5M shares7 | 6.8M shares8 | 172.8K shares2 | 206.5K shares2 | 1.1M shares2 | |||
| Shares (weighted, diluted) | 6.5M shares7 | 6.8M shares8 | 172.8K shares2 | 206.5K shares2 | 1.1M shares2 |
No quarterly figures reported.
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash | $407.0K9 | $34.5K9 | $17.7M7 | $77.3M8 | $70.5M2 | $194.5M2 | $197.7M2 | $242.1M2 |
| Receivables | $81.2M8 | $77.1M2 | $79.7M2 | |||||
| Current assets | $526.9K9 | $60.5M10 | $103.1M5 | $153.5M6 | $183.8M7 | $306.9M8 | $305.6M2 | $366.6M2 |
| Property, plant and equipment | $242.0K6 | $160.0K7 | $85.0K8 | $33.0K2 | $17.0K2 | |||
| Intangible assets | $16.7M6 | $20.3M7 | $20.3M8 | $40.5M2 | $34.7M2 | |||
| Total assets | $252.4M9 | $79.7M10 | $143.4M5 | $195.2M6 | $206.0M7 | $327.6M8 | $346.6M2 | $401.7M2 |
| Accounts payable | $9.6M8 | $2.0M2 | $2.7M2 | |||||
| Short-term debt | $6.1K8 | $4.7M2 | $12.5M2 | $7.7M2 | ||||
| Current liabilities | $23.8K9 | $15.7M10 | $35.4M5 | $34.6M6 | $32.9M7 | $46.2M8 | $39.9M2 | $31.8M2 |
| Long-term debt | $1.4M7 | |||||||
| Long-term liabilities | $1.2M6 | $557.0K7 | $1.4M8 | $1.6M2 | $134.0K2 | |||
| Total liabilities | $23.8K9 | $17.5M10 | $38.9M5 | $35.7M6 | $33.5M7 | $47.6M8 | $41.5M2 | $31.9M2 |
| Retained earnings | $124.0M6 | $150.7M7 | $181.2M8 | $207.1M2 | $232.7M2 | |||
| Shareholders’ equity | $5.0M9 | $61.8M10 | $104.0M5 | $158.9M6 | $172.4M7 | $279.9M8 | $305.0M2 | $369.7M2 |
| Shares outstanding | 6.9M shares9 | 41.2M shares10 | 57.9M shares10 | 68.1M shares5 | 68.1M shares6 | 10.1M shares11 |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | $26.1M5 | $8.7M6 | $46.5M7 | $7.7M8 | $42.2M2 | $22.9M2 | $17.9M2 | |
| Depreciation and amortization | $2.1M7 | $2.9M8 | $3.4M2 | $3.8M2 | $6.9M2 | |||
| Stock-based compensation | $181.0K7 | $391.0K8 | $231.9M8 | |||||
| Capital spending | $72.0K7 | $25.0K8 | $3.0K2 | $1.0K2 | ||||
| Free cash flow | $46.4M | $7.7M | $42.2M | $22.9M | ||||
| Cash from investing | -$1.1M7 | -$8.0M8 | -$3.0K2 | -$24.9M2 | -$709.0K2 | |||
| Cash from financing | $13.3M7 | $508.0K8 | $82.0M2 | $10.6M2 | $17.8M2 |
Corporate structure
Cheer Holding, Inc. sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of Cheer Holding, Inc.
- Lioness Ltd Filed SCHEDULE 13D on Cheer Holding, Inc., latest Sep 23, 2026
- Bing Zhang Filed SCHEDULE 13D/A on Cheer Holding, Inc., latest Sep 17, 2026 (7 filings since Mar 14, 2022)
- Frank Ulrich Brueckner Filed SCHEDULE 13G/A on Cheer Holding, Inc., latest Aug 13, 2026 (2 filings since Jan 30, 2026)
- BIGGER CAPITAL FUND L P Filed SCHEDULE 13G/A on Cheer Holding, Inc., latest Jul 29, 2026 (5 filings since Oct 7, 2025)
- Jia Lu Filed SCHEDULE 13D/A on Cheer Holding, Inc., latest Apr 16, 2026
- Zhong Sheng Ding Xin Investment Fund Management (Beijing) Co., Ltd. Filed SCHEDULE 13D/A on Cheer Holding, Inc., latest Apr 15, 2026 (2 filings since May 19, 2023)
- S.H.N. Financial Investments Ltd. Filed SCHEDULE 13G/A on Cheer Holding, Inc., latest Nov 14, 2025 (2 filings since Oct 9, 2025)
- SHAH CAPITAL MANAGEMENT Filed SCHEDULE 13G/A on Cheer Holding, Inc., latest Oct 7, 2025 (8 filings since Jan 4, 2022)
- Maven Investment Partners Ltd Filed SC 13D/A on Cheer Holding, Inc., latest Feb 14, 2023 (3 filings since Oct 4, 2022)
- Symphony Sponsor 1. Tkk Filed SC 13G/A on Cheer Holding, Inc., latest Mar 3, 2022
- Australia Eastern Investment Pty Ltd Filed SC 13G/A on Cheer Holding, Inc., latest Feb 11, 2022
- Cheer Holding, Inc. Beijing, China
Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What Cheer Holding, Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Property and equipment
| Item | Latest | A year before | Change |
|---|---|---|---|
| Property and equipment, before depreciation | $829.0K2 Dec 31, 2025 | $1.0M2 Dec 31, 2024 | −18.1% |
| Accumulated depreciation | $812.0K2 Dec 31, 2025 | $979.0K2 Dec 31, 2024 | −17.1% |
| Property and equipment, net | $17.0K2 Dec 31, 2025 | $33.0K2 Dec 31, 2024 | −48.5% |
| Operating-lease assets (leased space) | $261.0K2 Dec 31, 2025 | $371.0K2 Dec 31, 2024 | −29.6% |
Investments
| Item | Latest | A year before | Change |
|---|---|---|---|
| Cash and cash equivalents | $242.1M2 Dec 31, 2025 | $197.7M2 Dec 31, 2024 | +22.5% |
| Deposits held (banks) | $71.5M2 Dec 31, 2025 | $68.5M8 Dec 31, 2024 | +4.4% |
Intangibles and goodwill
Leadership
Who has led Cheer Holding, Inc., and when. Pick a name to see everywhere that person has worked.
- Chief executive officerSing Wang Aug 15, 2018 to Aug 24, 201812
- Chief financial officerIan Lee Aug 15, 2018 to Jun 1, 202013
Board members and other officers (10)
- Vice President and SupervisorRan Zhang Apr 24, 2020 to Jun 1, 202014
- Sr Dir of Business DevelopmentJoanne Sin Ting Ng Aug 15, 2018 to Aug 15, 201815
- Chief Investment OfficerRonald Issen Aug 15, 2018 to Aug 15, 201816
- Board memberRan Zhang Feb 20, 2020 to Feb 20, 202017
- Board memberShu Ming Leung Feb 20, 2020 to Mar 16, 202018
- Board memberJoanne Sin Ting Ng Mar 16, 2020 to Mar 16, 202019
- Board memberIan Lee Aug 15, 2018 to Aug 15, 201813
- Board memberJames Heimowitz Aug 15, 2018 to Aug 15, 201820
- Board memberSing Wang Aug 15, 2018 to Aug 24, 201812
- Board memberStephen Markscheid Aug 15, 2018 to Aug 15, 201821
Former names
Timeline
- Aug 15, 2018New chief executive Sing Wang becomes CEO12
Filings
136 filings to the SEC since October 2021: 7 annual reports, 2 insider forms, 33 large holders, 94 other. The latest 20:
- Sep 23, 2026SCHEDULE 13D EDGAR
- Sep 17, 2026SCHEDULE 13D/A EDGAR
- Sep 17, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
- Aug 13, 2026SCHEDULE 13G/A EDGAR
- Jul 29, 2026SCHEDULE 13G/A EDGAR
- Jul 28, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
- Jul 20, 2026S-8 REGISTRATION STATEMENT EDGAR
- Jul 10, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
- Jul 8, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
- Jun 18, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
- Apr 27, 2026SCHEDULE 13G/A EDGAR
- Apr 16, 2026SCHEDULE 13D/A EDGAR
- Apr 16, 2026SCHEDULE 13D/A EDGAR
- Apr 15, 2026SCHEDULE 13D/A EDGAR
- Apr 2, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
- Mar 23, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
- Mar 20, 202620-F ANNUAL REPORT EDGAR
- Mar 16, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
- Mar 13, 20263 EDGAR
- Mar 13, 20263 EDGAR
The 136 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- Lioness LtdSCHEDULE 13D, 1 filing Sep 23, 202622
- Bing ZhangSCHEDULE 13D/A, 7 filings Mar 14, 2022 to Sep 17, 202623
- Frank Ulrich BruecknerSCHEDULE 13G/A, 2 filings Jan 30, 2026 to Aug 13, 202624
- BIGGER CAPITAL FUND L PSCHEDULE 13G/A, 5 filings Oct 7, 2025 to Jul 29, 202625
- Jia LuSCHEDULE 13D/A, 1 filing Apr 16, 202626
- Zhong Sheng Ding Xin Investment Fund Management (Beijing) Co., Ltd.SCHEDULE 13D/A, 2 filings May 19, 2023 to Apr 15, 202627
- S.H.N. Financial Investments Ltd.SCHEDULE 13G/A, 2 filings Oct 9, 2025 to Nov 14, 202528
- SHAH CAPITAL MANAGEMENTSCHEDULE 13G/A, 8 filings Jan 4, 2022 to Oct 7, 202529
- Maven Investment Partners LtdSC 13D/A, 3 filings Oct 4, 2022 to Feb 14, 202330
- Symphony Sponsor 1. TkkSC 13G/A, 1 filing Mar 3, 202231
- Australia Eastern Investment Pty LtdSC 13G/A, 1 filing Feb 11, 202232
SEC filer profile
How Cheer Holding, Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARCheer Holding, Inc.1
- CIK0001738758
- Filer statusNon-accelerated filer not an emerging growth company; not a shell company4
- Incorporated inCayman Islands4
- Fiscal year endsDecember 311
- Industry code (SIC)7374 Services-Computer Processing & Data Preparation1
- SEC reviewing officeOffice of Technology, Division of Corporation Finance1
- Business address19F, Block B, Xinhua Technology Building, No. 8 Tuofangying South Rd, Jiuxianqiao, Chaoyang District, Beijing, F4 1000161
- Phone86-138103559881
- Shares outstanding4,686,248 Common Class A shares; 500,000 Common Class B shares as of Dec 31, 20254
- AuditorEnrome LLP, Singapore PCAOB ID 6907; no auditor attestation of internal control over financial reporting4
- On EDGAR sinceApr 30, 20181
- Filings285 in all: 6-K (79), 8-K (19), 3 (15), 4 (13), CORRESP (13), SC TO-I/A (12), SC 13G/A (11), UPLOAD (11)1
All 47 form types
SC 13G (10), SCHEDULE 13G/A (9), SC 13D/A (8), 20-F (6), 10-Q (5), EFFECT (5), 424B5 (4), F-1/A (4), SC 13D (4), SCHEDULE 13D/A (4), SCHEDULE 13G (4), 20-F/A (3), 424B3 (3), 8-K/A (3), F-3/A (3), S-1/A (3), S-8 (3), SC 13E3/A (3), 10-K (2), 25-NSE (2), 424B4 (2), 6-K/A (2), DRS (2), F-1 (2), F-3 (2), 10-Q/A (1), 8-A12B (1), 8-A12B/A (1), CERT (1), DEL AM (1), DRS/A (1), DRSLTR (1), NT 10-Q (1), S-1 (1), S-1MEF (1), SC 13E3 (1), SC TO-C (1), SC TO-I (1), SCHEDULE 13D (1)
- Latest filingsAnnual report (20-F) Mar 20, 2026
Quarterly report (10-Q) May 11, 2020
Latest 8-K (8-K) Jun 1, 2020
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| Class A Ordinary Shares, par value $0.05 per share | CHR | The Nasdaq Stock Market |
From the cover page of the 20-F filed Mar 20, 2026 (Section 12(b) of the Exchange Act).4
Sources
The numbers on this page point here. Each one links to the record it came from.
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- 12SEC EDGARSing Wang, Chief executive officer
- 13SEC EDGARIan Lee, Chief financial officer
- 14
- 15
- 16
- 17SEC EDGARRan Zhang, Board member
- 18SEC EDGARShu Ming Leung, Board member
- 19SEC EDGARJoanne Sin Ting Ng, Board member
- 20SEC EDGARJames Heimowitz, Board member
- 21SEC EDGARStephen Markscheid, Board member
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