SCHEDULE 13G 0001890802 XXXXXXXX LIVE Class A Ordinary Shares, par value $0.001 per share 10/02/2025 0001738758 Cheer Holding, Inc. G39973204 19F, Block B, Xinhua Technology Bldg No. 8 Tuofangying South Rd, Jiuxianqiao Chaoyang District, Beijing F4 100016 Rule 13d-1(c) S.H.N. Financial Investments Ltd. L3 2432016.00 0.00 2432016.00 0.00 2432016.00 N 9.99 FI Cheer Holding, Inc. 19F, Block B, Xinhua Technology Bldg, No. 8 Tuofangying South Road, Jiuxianqiao, Chaoyang District, Beijing, China 100016 S.H.N. Financial Investments Ltd. Herzliya Hills Arik Einstein 3, Israel, 4610301 Israel Y 2,432,016 The amounts in Row (5), (7) and (9) include 1,278,516 Class A Ordinary Shares and 1,153,500 Pre-Funded Warrants to purchase Class A Ordinary Shares. The amounts do not include 105,297 Pre-Funded Warrants to purchase Class A Ordinary Shares, 2,537,313 Series A Warrants to purchase Class A Ordinary Shares and 2,537,313 Series B Warrants to purchase Class A Ordinary Shares, each of which are subject to a 9.99% beneficial ownership limitation. The percentage set forth on Row (11) of the cover page for the reporting person is based on 24,322,133 Class A Ordinary Shares outstanding after the offering, based on the Issuer's Prospectus filed under Rule 424(b)(4) with the Securities and Exchange Commission on October 2, 2025. Nir Shamir is the Chief Executive Officer of the Reporting Person. As such, Mr. Shamir may be deemed to beneficially own (as that term is defined in Rule 13d-3 under the Securities Exchange Act of 1934) the securities described herein. To the extent Mr. Shamir is deemed to beneficially own such securities, Mr. Shamir disclaims beneficial ownership of these securities for all other purposes. 9.99% 2,432,016 0 2,432,016 0 Y Y Y Y Y N By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11. S.H.N. Financial Investments Ltd. /s/ Nir Shamir 10/09/2025