BEIJING, July 31, 2014 /PRNewswire/ -- Cheetah Mobile Inc.
(NYSE: CMCM) ("Cheetah" or the "Company"), a leading mobile
Internet company that provides
mission critical applications to help make the Internet and mobile experience speedier,
simpler, and safer for users worldwide, announced today that it has
entered into a supplemental agreement with Shenzhen Tencent Computer Systems Company Limited
("Tencent Shenzhen"), a subsidiary of
Tencent Holdings Limited
("Tencent"), which increases the
annual caps for fees payable by Tencent and its subsidiaries and their respective
associates to Cheetah.
Cheetah and Tencent Shenzhen
entered into a Strategic Cooperation Agreement on December 27, 2013, pursuant to which Cheetah
would, through both its PC and mobile products and platforms,
provide various forms of promotional services to Tencent for their various types of products. The
original annual caps of the fees payable by Tencent and its subsidiaries to Cheetah for the
two years ending December 31, 2015
were RMB22 million and RMB33 million, respectively.
Under the new supplemental agreement, the annual caps have been
increased to RMB100 million and
RMB105 million, respectively. The
reasons for the revision of the cap include an increase in demand
by Tencent for Cheetah's promotional
services and the rapid growth in the number of users of Cheetah's
products. Aside from the aforementioned revision, all existing
terms and conditions under the original Strategic Cooperation
Agreement remain unchanged.
Mr. Sheng Fu, Chief Executive
Officer of Cheetah, stated, "With a
strong suite of mission critical applications that we have
developed, we have been able to dramatically expand our global user
base. In addition, it is also our long-held belief that
collaboration is vital to the growth and development of both the
Internet and Mobile Internet industry. The increase in the annual
fee caps with Tencent highlights
Cheetah's rising market position, both domestically and
internationally, and the synergies it creates with key business
partners. We remain committed to work with our industry partners to
deliver solutions that meet their business goals both now and in
the future."
About Cheetah Mobile Inc.
Cheetah Mobile is a leading mobile Internet company with approximately 362
million monthly active users in March
2014. Its mission critical applications, including Clean
Master, CM Security, Battery Doctor and Duba Anti-virus, help make
the internet and mobile experience speedier, simpler, and safer for
users worldwide. Cheetah Mobile is the second largest internet
security software provider in China by monthly active users as of
March 2014, according to iUserTracker
of iResearch, and the publisher of Clean Master, the #1 mobile app
in the Google Play Tools category worldwide by monthly downloads in
March 2014, according to App Annie.
The Company also provides various platform products such as
Duba.com, Cheetah browser, game centers, and mobile app stores to
provide multiple user traffic entry points and global content
distribution channels for its business partners.
About Tencent
Tencent uses technology to enrich the lives of Internet
users. Every day, hundreds of millions of people communicate,
share experiences, consume information, seek entertainment, and
shop online through its integrated platforms. Its diversified
services include QQ, Weixin and WeChat for communications; Qzone
for social networking; QQ Game Platform for online games; QQ.com
for information; as well as its eCommerce services. Tencent was founded in Shenzhen in 1998
and went public on the Main Board of the Hong Kong Stock Exchange
in 2004. It seeks to evolve with the Internet by investing in
innovation, providing a hospitable environment for its partners,
and staying close to its users.
SOURCE Cheetah Mobile Inc.