BEIJING, Jan. 22, 2016 /PRNewswire/ -- Cheetah Mobile Inc.
(NYSE: CMCM) ("Cheetah Mobile" 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, today announced that Moxiu Technology
(Beijing) Co., Ltd. ("Moxiu"), a
subsidiary of the Company, filed an application for the quotation
of its shares on the National Equities Exchange and Quotations
System (the "NEEQ") in China on
January 22, 2016. The NEEQ is
commonly known as the New Third Board of the PRC, and is a unified
national system that typically provides a trading platform for off
market transfer of non-listed public shares by subscribing members
of the NEEQ.
As of the date of this announcement, the Company directly holds
approximately a 52.1% equity interest in Moxiu. The Company
currently has no intention to effect any sale of its existing
shares in Moxiu, nor will Moxiu issue any new shares as part of or
immediately following the quotation. In the event that Moxiu is
able to effect the proposed quotation on the NEEQ, immediately
following such quotation on NEEQ, the Company will continue to hold
approximately a 52.1% equity interest in Moxiu and consolidate the
financial results of Moxiu.
There is no assurance that the proposed quotation will take
place in a timely manner or at all. The proposed quotation is
subject to, among other things, market and business conditions as
well as approvals by the National Equities Exchange and Quotations
Co. Ltd. and the Stock Exchange of Hong Kong Limited, to which
Kingsoft Corporation Limited, the controlling shareholder of the
Company, has submitted a spin-off application pursuant to
applicable rules.
Mr. Sheng Fu, Cheetah Mobile's
Chief Executive Officer, stated, "We are very pleased with Moxiu's
achievements, especially relating to its strong innovation
capabilities, mobile technology and product offering. We firmly
believe that the proposed quotation of Moxiu's shares on the NEEQ
will not only provide Moxiu with new, low-cost and diversified
sources for funding, but also elevate its brand and facilitate it's
evolution into a modern public enterprise with a strong management
structure and system of corporate governance."
About Moxiu Technology
Moxiu Technology is a limited liability company established in
the People's Republic of China on
June 12, 2008. The Beijing-based company is mainly engaged in the
development, research, and provision of mobile launchers, and
monetizes its mobile traffic through online marketing services in
the People's Republic of China.
About Cheetah Mobile Inc.
Cheetah Mobile is a leading mobile internet company. The Company
aims to provide the best apps for mobile users worldwide, while
building a leading global mobile ad platform for advertisers.
Cheetah Mobile had approximately 567 million global mobile monthly
active users in September 2015. 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.
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.
Safe Harbor Statements
This press release contains forward-looking statements.
These statements, including management quotes and business outlook,
constitute forward-looking statements under the U.S. Private
Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terminology such as
"will," "expects," "anticipates," "future," "intends," "plans,"
"believes," "estimates" and similar statements. Such
statements involve certain risks and uncertainties that could cause
actual results to differ materially from those expressed or implied
in the forward-looking statements. These forward-looking
statements include, but are not limited to, statements about:
Cheetah Mobile's growth strategies; Cheetah Mobile's ability to
retain and increase its user base and expand its product and
service offerings; Cheetah Mobile's ability to monetize its
platform; Cheetah Mobile's future business development, financial
condition and results of operations; competition from companies in
a number of industries including internet companies that provide
online marketing services and internet value-added services;
expected changes in Cheetah Mobile's revenues and certain cost or
expense items; and general economic and business condition globally
and in China. Further information
regarding these and other risks is included in Cheetah Mobile's
filings with the U.S. Securities and Exchange Commission. Cheetah
Mobile does not undertake any obligation to update any
forward-looking statement as a result of new information, future
events or otherwise, except as required under applicable law.
Investor Relations Contact
Cheetah Mobile Inc.
Helen Jing Zhu
Tel: +86 10 6292 7779 ext. 1600
Email: IR@cmcm.com
ICR, Inc.
Vera Tang
Tel: +1 (646) 417-5395
Email: IR@cmcm.com
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SOURCE Cheetah Mobile