BEIJING, Aug. 23,
2022 /PRNewswire/ -- Cheetah Mobile Inc. (NYSE:
CMCM) ("Cheetah Mobile" or the "Company"), a leading Internet
company, today announced that it will change the ratio of its
American Depositary Share ("ADS") to Class A ordinary share
("Share") from one (1) ADS representing ten (10) Shares to one (1)
ADS representing fifty (50) Shares, effective September 2, 2022 (the "ADS Ratio Change").
For Cheetah Mobile's ADS holders, the change in the ADS ratio
will have the same effect as a one-for-five reverse ADS
split. Effective September 2,
2022, ADS holders of Cheetah Mobile will be required on a
mandatory basis to surrender their old ADS to the depositary bank
for cancellation at the rate of five (5) old ADSs for one (1) new
ADS. Holders in the Direct Registration System and in the
Depository Trust Company will have their ADSs automatically
exchanged and need not take any actions. Only whole ADSs will be
distributed. The depositary bank will attempt to sell any
fractional ADSs and distribute the cash proceeds. The ADS
Ratio Change will have no impact on Cheetah Mobile's underlying
ordinary shares.
About Cheetah Mobile Inc.
Cheetah Mobile is a leading internet company. It has
attracted hundreds of millions of monthly active users through an
array of internet products such as Clean Master, Security Master
and several casual games. The Company provides advertising
services to advertisers worldwide as well as value-added services
including the sale of premium membership and in-app virtual items
to its users. Cheetah Mobile is also 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 announcement contains forward-looking statements.
These statements are made under the "safe harbor" provisions of 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. Statements
that are not historical facts, including statements about Cheetah's
beliefs and expectations, are forward-looking statements.
Forward-looking statements involve inherent risks and
uncertainties. A number of factors could cause actual results
to differ materially from those contained in any forward-looking
statement. All information provided in this
press release is as of the date of this press release,
and Cheetah does not undertake any obligation to update
any forward-looking statement, except as required under
applicable law.
Investor Relations Contact
Cheetah Mobile Inc.
Tel: +86 10 6292 7779
Email: ir@cmcm.com
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SOURCE Cheetah Mobile