BEIJING, Feb. 21, 2020 /PRNewswire/ -- Cheetah Mobile Inc.
(NYSE: CMCM) ("Cheetah Mobile" or the "Company"), a leading mobile
internet company with global market coverage, today announced that
it has been informed by Google that the Company's Google Play
Store, Google AdMob and Google AdManager accounts have been
disabled on February 20, 2020, and
the associated contracts will be terminated.
Pending the restoration of Google collaboration, the Company
expects its ability to attract new users and generate revenue from
Google may be materially adversely affected from February 2020. In the first nine months of 2019,
Cheetah Mobile generated 22.6% of its total revenues from Google,
including revenues from the mobile advertising business and
revenues from the purchase and consumption of virtual items by
users via Google as a channel.
According to Google, the decision was made because some of the
Company's apps had not been compliant with Google policies,
resulting in certain invalid traffic. The Company is in continuous
communication with Google to appeal the decision, clarify any
misunderstanding, and adopt any requisite remedial measures to
restore the disabled accounts. However, the appealing process could
be time-consuming, and the Company cannot guarantee that its
appeals will be successful.
Cheetah Mobile remains committed to upholding the high standards
in the industry and complying with Google Play developer policies,
GDPR, laws, and regulations. The Company's priority has always been
to protect the interests of its users and enhance the user
experience.
About Cheetah Mobile Inc.
Cheetah Mobile is a leading mobile Internet company with global
market coverage. It has attracted hundreds of millions of monthly
active users through its mobile utility products such as Clean
Master and Cheetah Keyboard, casual games such as Piano Tiles 2 and
Bricks n Balls. The Company provides its advertising customers,
which include direct advertisers and mobile advertising networks
through which advertisers place their advertisements, with direct
access to highly targeted mobile users and global promotional
channels. The Company also provides value-added services to its
mobile application users through the sale of in-app virtual items
on selected mobile products and games. Cheetah Mobile is committed
to leveraging its cutting-edge artificial intelligence technologies
to power its products and make the world smarter. It has been
listed on the New York Stock Exchange since May 2014.
Safe Harbor Statement
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
inherent risks and uncertainties. A number of factors could cause
actual results to differ materially from those contained in the
forward-looking statements, including but are not limited to the
following: 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 with 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: helenjingzhu@cmcm.com
ICR Inc.
Jack Wang
Tel: +1 (646) 417-5395
Email: IR@cmcm.com
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SOURCE Cheetah Mobile Inc