BEIJING, Jan. 30, 2015 /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, today announced that it has entered into
a supplemental agreement with Shenzhen Tencent Computer Systems Company Limited
("Tencent Shenzhen"), a subsidiary of
Tencent Holdings Limited
("Tencent").
Under the new supplemental agreement, Tencent, through their products or platforms,
would provide various promotional services to Cheetah. In addition,
the annual cap with respect to the fees payable by Cheetah to
Tencent for the year ending
December 31, 2015 will be
RMB100 million. Aside from the
aforementioned revision, all existing terms and conditions under
the original Strategic Cooperation Agreement (as defined in the
background information) remain unchanged.
Mr. Sheng Fu, Cheetah Mobile's
Chief Executive Officer, stated, "We are thrilled to expand our
collaboration with Tencent, one of
the world's largest Internet and mobile Internet companies which
possesses one of the largest user audiences and highest user
frequency of any Internet company in China. By leveraging Tencent's tremendous user
base and traffic from its various products and platforms, we are
able to further grow Cheetah's market share, brand recognition and
mobile user base in China, which
is a key focus for the Company's global strategy going
forward."
Background Information
On December 27, 2013, Cheetah and
Tencent Shenzhen initially entered
into a Strategic Cooperation Agreement, which was further amended
on July 31, 2014. Pursuant to the
agreement, Cheetah would, through its PC and mobile products and
platforms (including licensed products and platforms), provide
various forms of promotional services to Tencent for various types of products. The annual
caps with respect to the fees payable by Tencent to Cheetah for the years ending 2014 and
2015 were RMB100 million and
RMB 105 million, respectively.
About Cheetah Mobile Inc.
Cheetah Mobile is a leading mobile internet company with
approximately 340.7 million mobile monthly active users in
September 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 September 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 September 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.
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.
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SOURCE Cheetah Mobile Inc.