Cheer Holding shares jump 24.95% after hours on two competing buyout proposals of $0.56 and $0.52 per share.

Cheer Holding surged 24.95% in after-hours trading following the announcement of two competing non-binding buyout proposals. The $0.56-per-share offer from Zhongsheng Dingxin and $0.52-per-share bid from Excel Ally Ventures triggered immediate speculation about a potential take-private transaction, with the company’s Special Committee now reviewing the offers. The stock’s intraday 23% rally and 827% surge in turnover underscore market anticipation of a premium valuation. While the 52-week high remains distant, the Special Committee’s evaluation of the bids is expected to drive further volatility.