CHEER HOLDING, INC. (FORM 6-K)

Material Event: The company announced receiving two preliminary non-binding proposals on November 5, 2025, seeking to acquire all outstanding Class A ordinary shares.

• Proposals Received From:
  • Zhongsheng Dingxin Investment Fund Management (Beijing) Co., Ltd.
  • Excel Ally Ventures Limited
• This indicates a potential privatization or significant change in control transaction is being considered.
• The proposals are explicitly non-binding.

The announcement was made via press release (Exhibit 99.1) and is effective immedia