On September 16, 2026, Chairman and CEO Bing Zhang sold all 500,000 outstanding Class B ordinary shares to Lioness Limited for $500.00. The Class B shares carry 100 votes each, representing approximately 96.44% of the company's total voting power based on 1,845,453 Class A shares and 500,000 Class B shares outstanding. Mr. Zhang cited personal health reasons and the buyer's international network as motivations for the sale but will continue serving in his executive roles. Cheer Holding, Inc. operates in the technology sector.
