BEIJING, Sept. 7, 2021 /PRNewswire/ -- Cheetah Mobile Inc.
(NYSE: CMCM) ("Cheetah Mobile" or the "Company"), a leading
internet company, today announced its unaudited consolidated
financial results for the second quarter 2021 ended June 30, 2021.
Management Commentary
Mr. Sheng Fu, Cheetah Mobile's
Chairman and Chief Executive Officer, stated, "We delivered a
healthy quarter with total revenue of RMB212
million (USD33 million), which
is within our previous guidance. For the first time in 10 quarters,
we achieved a quarter over quarter sequential revenue growth. In
this quarter, our Internet membership business maintained a strong
momentum in both membership number and revenue, especially the
revenue from renewal. We are also happy to see more and more
members choosing longer-term service now. For our AI business, the
business model of shopping-mall coupon-selling robots has been
working well. In this quarter, we have opened up more new use cases
and GMV(Gross Merchandise Volume)was up by double digits. We are
optimistic about the progress we are making and confident that we
will continue to achieve our strategic goals steadily."
Mr. Thomas Ren, Cheetah Mobile's
Chief Financial Officer, commented, "In the second quarter of 2021,
our gross margin kept improving to 76.1%, compared to 71.2% in the
same period last year and 70.1% in the first quarter 2021. This
result reflects our continuous efforts in improving operational
efficiency. We ended this quarter with RMB1,672 million (US$259
million) in cash and cash equivalents, restricted cash and
short-term investments. The robust balance sheet makes it possible
for us to invest across our core business to support our long-term
growth plans."
Second Quarter 2021 Consolidated Financial Results
REVENUES
Total revenues were RMB211.7
million (US$32.8 million) in
the second quarter of 2021, representing a decrease of 46.3% year
over year and an increase of 6.7% quarter over quarter.
Revenues from the Company's internet
business decreased by 45.6% year over year and increased
by 8.6% quarter over quarter to RMB203.8
million (US$31.6 million) in
the second quarter of 2021. The year-over-year decrease was
due to the Company's strategic efforts to diminish the
gaming-related business in past quarters. The quarter-over-quarter
increase was mainly from the growth of our membership business and
the commertialization of some new utility products on mobile
platform.
Revenues from the AI and others were RMB7.9 million (US$1.2
million) in the second quarter of 2021, representing a 59.2%
year-over-year decrease and a 26.7% quarter-over-quarter decrease.
The year-over-year decline was primarily attributable to the drop
in sales of consumer-facing AI-related products. The
quarter-over-quarter decrease was from the expected volatility
during the transition of business model.
COST OF REVENUES AND GROSS PROFIT
Cost of revenues decreased by 55.5% year over year and
14.8% quarter over quarter to RMB50.6
million (US$7.8 million) in
the second quarter of 2021. The decrease was primarily due to the
Company's ongoing efforts to streamline the business and improve
operational efficiency. Non-GAAP cost of revenues decreased
by 55.7% year over year and 14.9% quarter over quarter to
RMB50.2 million (US$7.8 million) in the second quarter of
2021.
Gross profit decreased by 42.6% year over year and
increased 15.9% quarter over quarter to RMB161.2 million (US$25.0
million) in the second quarter of 2021. Non-GAAP gross
profit decreased by 42.5% year over year and increased 15.9%
quarter over quarter to RMB161.5
million (US$25.0 million) in
the second quarter of 2021.
Gross margin was 76.1% in the second quarter of 2021,
compared to 71.2% in the second quarter of 2020 and 70.1% in the
first quarter of 2021. Non-GAAP gross margin was 76.3% in
the second quarter of 2021, compared to 71.2% in the second quarter
of 2020 and 70.2% in the first quarter of 2021.
OPERATING INCOME/LOSS AND EXPENSES
Total operating expenses decreased by 52.5% year
over year and increased by 12.5% quarter over quarter to
RMB220.0 million (US$34.1 million) in the second quarter of 2021.
Total non-GAAP operating expenses decreased by 47.3% year
over year and increased by 10.3% quarter over quarter to
RMB217.9 million (US$33.7million) in the second quarter of
2021.
- Research and development expenses decreased by
62.2% year over year and 35.4% quarter over quarter to RMB47.3 million (US$7.3
million) in the second quarter of 2021. The year over year
decrease was mainly from the deconsolidation of certain gaming
business in past quarters. The quarter over quarter decrease was
due to the technology to support our current AI business has been
relatively well-developed. Non-GAAP research and development
expenses decreased by 58.4% year over year and 33.2% quarter
over quarter to RMB47.1 million
(US$7.3 million) in the second
quarter of 2021.
- Selling and marketing expenses decreased by 40.7% year
over year and increased by 52.8% quarter over quarter to
RMB121.8 million (US$18.9 million) in the second quarter of 2021.
This year-over-year decrease was attributable to the streamlining of our business and the
strategic cost cutting. While the quarter-over-quarter increase was
mostly from the promotion of our new utility products. Non-GAAP
selling and marketing expenses decreased by 40.7% year over
year and increased by 52.2% quarter over quarter to RMB121.4 million (US$18.8
million) in the second quarter of 2021.
- General and administrative expenses decreased by 60.4%
year over year and increased by 20.2% quarter over quarter to
RMB53.0 million (US$8.2 million) in the second quarter of 2021.
The year-over-year decrease was mainly due to the streamlining of
our business and the effective expense control. While the
quarter-over-quarter increase was caused by reversal of share-based
compensation expenses due to forfeitures in the first quarter 2021.
Non-GAAP general and administrative expenses decreased by
46.5% year over year and increased by 5.9% quarter over quarter to
RMB51.6 million (US$8.0 million) in the second quarter of
2021.
Operating loss was RMB58.8
million (US$9.1 million) in
the second quarter of 2021, compared to RMB182.9 million in the same period of the last
year and RMB56.5 million in the first
quarter of 2021. Non-GAAP operating loss was RMB56.4 million (US$8.7
million) in the second quarter of 2021, compared to
RMB132.7 million in the same period
of the last year and RMB58.2 million
in the first quarter of 2021.
- Operating loss for the internet business was
RMB3.4 million in the second quarter
of 2021, compared to an operating profit of RMB35.6 million in the same period last year and
operating profit of RMB27.7 million
in the first quarter of 2021.
- Operating loss for AI and others business was
RMB53.0 million in the second quarter
of 2021, narrowed from an operating loss of RMB168.3 million in the same period last year and
an operating loss of RMB85.9 million
in the first quarter of 2021.
Share-based compensation expenses were RMB2.4 million (US$0.4
million) in the second quarter of 2021, compared to
RMB50.2 million in the same period of
the last year and negative RMB1.6
million in the first quarter of 2021.
OTHER INCOME, NET
Other income, net was RMB34.9
million (US$5.4 million) in
the second quarter of 2021, which was primarily from the
appreciation on the value of certain long-term investments.
NET INCOME ATTRIBUTABLE TO CHEETAH MOBILE
SHAREHOLDERS
Net income attributable to Cheetah Mobile
shareholders was RMB0.9
million (US$0.1 million) in
the second quarter of 2021, compared to a net income attributable
to Cheetah Mobile shareholders of RMB193.7
million in the same period of the last year and a net income
attributable to Cheetah Mobile shareholders of RMB76.4 million in the first quarter of 2021.
Non-GAAP net income attributable to Cheetah Mobile
shareholders was RMB3.3 million (US$0.5 million) in the second quarter of 2021,
compared to a non-GAAP net income attributable to Cheetah Mobile
shareholders of RMB243.9 million in
the same period of the last year and non-GAAP net income
attributable to Cheetah Mobile shareholders of RMB74.8 million in the first quarter of 2021.
NET INCOME PER ADS
Diluted Income per ADS was RMB0.01 (US$0.00)
in the second quarter of 2021, compared to diluted earnings per ADS
of RMB1.38 in the same period of the
last year and diluted earnings per ADS of RMB0.54 in the first quarter of 2021. Non-GAAP
diluted income per ADS was RMB0.02 (US$0.00)
in second quarter of 2021, compared to RMB1.74 in the same period of the last year and
RMB0.53 in the first quarter of
2021.
BALANCE SHEET
As of June 30, 2021, the Company
had cash and cash equivalents, restricted cash and short-term
investments of RMB1,671.9 million
(US$258.9 million).
SHARES ISSUED AND OUTSTANDING
As of June 30, 2021, the Company
had a total of 1,403,070,144 Class A and Class B ordinary shares
issued and outstanding. One ADS represents 10 Class A ordinary
shares.
Business Outlook
For the third quarter of 2021, the Company expects its total
revenues to be between RMB180
million (US$27.8 million) and
RMB230 million (US$35.6 million). This amount reflects the
Company's current and preliminary expectations.
Conference Call Information
The Company will hold a conference call on September 7th, 2021, at 7:00 a.m. Eastern Time (or 7:00 p.m. Beijing Time) to discuss its financial
results. Listeners may access the call by dialing the following
numbers:
International:
|
+1-412-902-4272
|
United States Toll
Free:
|
+1-888-346-8982
|
Mainland China Toll
Free:
|
4001-201-203
|
Hong Kong Toll
Free:
|
800-905-945
|
Conference
ID:
|
Cheetah
Mobile
|
The replay will be accessible through September 14th, 2021 by dialing the following
numbers:
International:
|
+1-412-317-0088
|
United States Toll
Free:
|
+1-877-344-7529
|
Access
Code:
|
10159259
|
A live and archived webcast of the conference call will also be
available at the Company's investor relations website at
http://ir.cmcm.com.
Exchange Rate
This press release contains translations of certain Renminbi
amounts into U.S. dollars at specified rates solely for the
convenience of readers. Unless otherwise noted, all translations
from Renminbi to U.S. dollars in this press release were made at a
rate of RMB6.4566 to
US$1.00, the exchange rate in effect
as of June 30, 2021, as set forth in
the H.10 statistical release of the Federal Reserve Board. Such
translations should not be construed as representations that RMB
amounts could be converted into U.S. dollars at that rate or any
other rate, or to be the amounts that would have been reported
under accounting principles generally accepted in the United States of America ("U.S.
GAAP").
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 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.
Use of Non-GAAP Financial Measures
This release contains the following non-GAAP financial
measures:
- Non-GAAP cost of revenues excludes share-based compensation
expenses
- Non-GAAP gross profit excludes share-based compensation
expenses
- Non-GAAP gross margin excludes share-based compensation
expense
- Total non-GAAP operating expenses exclude share-based
compensation expenses
- Non-GAAP research and development expenses exclude share-based
compensation expenses
- Non-GAAP selling and marketing expenses exclude share-based
compensation expenses
- Non-GAAP general and administrative expenses exclude
share-based compensation expenses
- Non-GAAP operating profit/loss excludes share-based
compensation expenses
- Non-GAAP net income/loss attributable to Cheetah Mobile
shareholders excludes share-based compensation expenses
- Non-GAAP diluted income/loss per ADS excludes share-based
compensation expenses
- Non-GAAP adjusted EBITDA represents net income attributable to
Cheetah Mobile shareholders excluding share-based compensation,
interest income, depreciation and amortization, net (loss) income
attributable to noncontrolling interests, other expense (income),
net and income tax expenses
The Company reviews these non-GAAP financial measures together
with GAAP financial measures to obtain a better understanding of
its operating performance. It uses the non-GAAP financial measures
for planning, forecasting and measuring results against the
forecast. The Company believes that non-GAAP financial measures are
useful supplemental information for investors and analysts to
assess its operating performance without the effect of share-based
compensation expenses, which have been and will continue to be
significant recurring expenses in its business. However, the use of
non-GAAP financial measures has material limitations as an
analytical tool. One of the limitations of using non-GAAP financial
measures is that they do not include all items that impact the
Company's net income for the period. In addition, because non-GAAP
financial measures are not measured in the same manner by all
companies, they may not be comparable to other similarly titled
measures used by other companies. In light of the foregoing
limitations, you should not consider non-GAAP financial measure in
isolation from or as an alternative to the financial measure
prepared in accordance with U.S. GAAP. For more information on
these non-GAAP financial measures, please see the tables captioned
"Cheetah Mobile Inc. Reconciliations of GAAP and Non-GAAP
Results".
Investor Relations Contact
Cheetah Mobile Inc.
Tel: +86 10 6292 7779
Email: ir@cmcm.com
CHEETAH MOBILE
INC.
|
|
|
|
|
|
Condensed
Consolidated Balance Sheets
|
|
|
|
|
|
(Unaudited,
amounts in thousands of Renminbi ("RMB") and US dollars
("US$"))
|
|
|
|
|
|
|
|
As
of
|
|
December
31, 2020
|
|
June 30,
2021
|
|
June 30,
2021
|
|
RMB
|
|
RMB
|
|
USD
|
ASSETS
|
|
|
|
|
|
Current
assets:
|
|
|
|
|
|
Cash and cash
equivalents
|
1,299,658
|
|
1,468,769
|
|
227,483
|
Restricted
cash
|
797
|
|
789
|
|
122
|
Short-term
investments
|
360,803
|
|
202,350
|
|
31,340
|
Accounts
receivable
|
225,586
|
|
247,298
|
|
38,302
|
Prepayments and other
current assets
|
835,694
|
|
880,346
|
|
136,348
|
Due from related
parties
|
224,323
|
|
194,251
|
|
30,086
|
Total current
assets
|
2,946,861
|
|
2,993,803
|
|
463,681
|
|
|
|
|
|
|
Non-current
assets:
|
|
|
|
|
|
Property and
equipment, net
|
101,984
|
|
100,241
|
|
15,525
|
Right-of-use assets,
net
|
17,729
|
|
43,144
|
|
6,682
|
Intangible assets,
net
|
12,575
|
|
10,902
|
|
1,689
|
Investment in equity investees
|
216,126
|
|
278,834
|
|
43,186
|
Other long term investments
|
2,193,600
|
|
2,138,182
|
|
331,162
|
Due from related
parties
|
3,522
|
|
37,507
|
|
5,809
|
Deferred tax
assets
|
15,607
|
|
15,131
|
|
2,343
|
Other non-current
assets
|
105,479
|
|
96,560
|
|
14,955
|
Total non-current
assets
|
2,666,622
|
|
2,720,501
|
|
421,351
|
|
|
|
|
|
|
Total
assets
|
5,613,483
|
|
5,714,304
|
|
885,032
|
|
|
|
|
|
|
LIABILITIES AND
SHAREHOLDERS' EQUITY
|
|
|
|
|
|
Current
liabilities:
|
|
|
|
|
|
Accounts
payable
|
105,832
|
|
107,712
|
|
16,683
|
Accrued expenses and
other current liabilities
|
1,390,042
|
|
1,433,269
|
|
221,984
|
Due to related
parties
|
48,938
|
|
34,538
|
|
5,349
|
Income tax
payable
|
27,505
|
|
32,123
|
|
4,975
|
Total current
liabilities
|
1,572,317
|
|
1,607,642
|
|
248,991
|
|
|
|
|
|
|
Non-current
liabilities:
|
|
|
|
|
|
Deferred tax
liabilities
|
60,502
|
|
59,857
|
|
9,271
|
Other non-current
liabilities
|
192,272
|
|
212,501
|
|
32,912
|
Total non-current
liabilities
|
252,774
|
|
272,358
|
|
42,183
|
|
|
|
|
|
|
Total
liabilities
|
1,825,091
|
|
1,880,000
|
|
291,174
|
|
|
|
|
|
|
Shareholders'
equity:
|
|
|
|
|
|
Ordinary
shares
|
234
|
|
235
|
|
36
|
Additional paid-in
capital
|
2,726,619
|
|
2,730,368
|
|
422,880
|
Retained
earnings
|
857,188
|
|
934,553
|
|
144,744
|
Accumulated other
comprehensive income
|
163,340
|
|
126,879
|
|
19,651
|
Total Cheetah
Mobile shareholders' equity
|
3,747,381
|
|
3,792,035
|
|
587,311
|
Noncontrolling
interests
|
41,011
|
|
42,269
|
|
6,547
|
|
|
|
|
|
|
Total
equity
|
3,788,392
|
|
3,834,304
|
|
593,858
|
|
|
|
|
|
|
Total liabilities
and equity
|
5,613,483
|
|
5,714,304
|
|
885,032
|
CHEETAH MOBILE
INC.
|
|
|
|
|
|
|
|
Condensed
Consolidated Statements of Comprehensive Income
(Loss)
|
|
|
|
|
|
|
|
(Unaudited,
amounts in thousands of Renminbi ("RMB") and US dollars ("US$"),
except for number of shares and per share(or ADS)
data)
|
|
|
|
|
|
|
|
|
|
For The Three
Months Ended
|
|
June 30,
2020
|
|
March 31,
2021
|
|
June 30,
2021
|
|
June 30,
2021
|
|
RMB
|
|
RMB
|
|
RMB
|
|
USD
|
Revenues
|
394,210
|
|
198,420
|
|
211,726
|
|
32,792
|
Internet
business
|
374,759
|
|
187,598
|
|
203,790
|
|
31,563
|
AI and
others
|
19,451
|
|
10,822
|
|
7,936
|
|
1,229
|
|
|
|
|
|
|
|
|
Cost of revenues
(a)
|
(113,661)
|
|
(59,359)
|
|
(50,554)
|
|
(7,830)
|
Gross
profit
|
280,549
|
|
139,061
|
|
161,172
|
|
24,962
|
|
|
|
|
|
|
|
|
Operating income
and expenses:
|
|
|
|
|
|
|
|
Research and
development (a)
|
(125,036)
|
|
(73,251)
|
|
(47,284)
|
|
(7,323)
|
Selling and marketing
(a)
|
(205,562)
|
|
(79,716)
|
|
(121,845)
|
|
(18,871)
|
General and
administrative (a)
|
(133,840)
|
|
(44,106)
|
|
(53,022)
|
|
(8,213)
|
Other operating
income
|
998
|
|
1,484
|
|
2,162
|
|
335
|
Total operating
income and expenses
|
(463,440)
|
|
(195,589)
|
|
(219,989)
|
|
(34,072)
|
|
|
|
|
|
|
|
|
Operating
loss
|
(182,891)
|
|
(56,528)
|
|
(58,817)
|
|
(9,110)
|
Other
income/(expenses):
|
|
|
|
|
|
|
|
Interest income,
net
|
8,496
|
|
4,786
|
|
3,644
|
|
564
|
Foreign exchange
(loss)/gain
|
(3,409)
|
|
(4,846)
|
|
14,620
|
|
2,266
|
(Loss)/gain from
equity method investments, net
|
(5,452)
|
|
56,040
|
|
7,606
|
|
1,178
|
Other income,
net
|
453,549
|
|
85,561
|
|
34,887
|
|
5,403
|
|
|
|
|
|
|
|
|
Income before
taxes
|
270,293
|
|
85,013
|
|
1,940
|
|
301
|
Income tax
expenses
|
(82,198)
|
|
(7,792)
|
|
(316)
|
|
(49)
|
Net
income
|
188,095
|
|
77,221
|
|
1,624
|
|
252
|
Less: net
(loss)/income attributable to noncontrolling
interests
|
(5,626)
|
|
774
|
|
707
|
|
110
|
Net income
attributable to Cheetah Mobile shareholders
|
193,721
|
|
76,447
|
|
917
|
|
142
|
|
|
|
|
|
|
|
|
Earnings per
share
|
|
|
|
|
|
|
|
Basic
|
0.14
|
|
0.05
|
|
0.00
|
|
0.00
|
Diluted
|
0.14
|
|
0.05
|
|
0.00
|
|
0.00
|
|
|
|
|
|
|
|
|
Earnings per
ADS
|
|
|
|
|
|
|
|
Basic
|
1.41
|
|
0.54
|
|
0.01
|
|
0.00
|
Diluted
|
1.38
|
|
0.54
|
|
0.01
|
|
0.00
|
|
|
|
|
|
|
|
|
Weighted average
number of shares outstanding
|
|
|
|
|
|
|
|
Basic
|
1,383,251,669
|
|
1,427,820,687
|
|
1,429,575,967
|
|
1,429,575,967
|
Diluted
|
1,405,836,201
|
|
1,431,305,814
|
|
1,434,171,737
|
|
1,434,171,737
|
Weighted average
number of ADSs outstanding
|
|
|
|
|
|
|
|
Basic
|
138,325,167
|
|
142,782,069
|
|
142,957,597
|
|
142,957,597
|
Diluted
|
140,583,620
|
|
143,130,581
|
|
143,417,174
|
|
143,417,174
|
|
|
|
|
|
|
|
|
Other
comprehensive (loss)/income, net of tax of nil
|
|
|
|
|
|
|
|
Foreign currency
translation adjustments
|
(2,116)
|
|
16,797
|
|
(51,664)
|
|
(8,002)
|
Other
comprehensive income/(loss)
|
(2,116)
|
|
16,797
|
|
(51,664)
|
|
(8,002)
|
Total
comprehensive income/(loss)
|
185,979
|
|
94,018
|
|
(50,040)
|
|
(7,750)
|
Less: Total
comprehensive (loss)/income attributable to
noncontrolling interests
|
(5,426)
|
|
2,946
|
|
129
|
|
20
|
Total
comprehensive income/(loss) attributable to Cheetah Mobile
shareholders
|
191,405
|
|
91,072
|
|
(50,169)
|
|
(7,770)
|
CHEETAH MOBILE
INC.
|
|
|
|
|
|
|
|
Condensed
Consolidated Statements of Comprehensive Income
(Loss)
|
|
|
|
|
|
|
(Unaudited,
amounts in thousands of Renminbi ("RMB") and US dollars ("US$"),
except for number of shares and per share(or ADS)
data)
|
|
|
|
|
|
|
|
|
|
For The Three
Months Ended
|
|
June 30,
2020
|
|
March 31,
2021
|
|
June 30,
2021
|
|
June 30,
2021
|
(a) Share-based
compensation expenses
|
RMB
|
|
RMB
|
|
RMB
|
|
USD
|
Cost of
revenues
|
230
|
|
313
|
|
307
|
|
48
|
Research and
development
|
11,826
|
|
2,722
|
|
186
|
|
29
|
Selling and
marketing
|
785
|
|
(49)
|
|
460
|
|
71
|
General and
administrative
|
37,359
|
|
(4,612)
|
|
1,436
|
|
222
|
Total
|
50,200
|
|
(1,626)
|
|
2,389
|
|
370
|
CHEETAH MOBILE
INC.
|
|
|
|
|
|
|
|
Reconciliation of
GAAP and Non-GAAP Results
|
|
|
|
|
|
|
|
(Unaudited,
amounts in thousands of Renminbi ("RMB") and US dollars ("US$"),
except for per share data )
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For The Three
Months Ended June 30, 2021
|
|
GAAP
|
|
Share-based
|
|
Non-GAAP
|
|
Non-GAAP
|
|
Result
|
|
Compensation
|
|
Result
|
|
Result
|
|
RMB
|
|
RMB
|
|
RMB
|
|
USD
|
Revenues
|
211,726
|
|
-
|
|
211,726
|
|
32,792
|
Cost of
revenues
|
(50,554)
|
|
307
|
|
(50,247)
|
|
(7,782)
|
Gross
profit
|
161,172
|
|
307
|
|
161,479
|
|
25,010
|
|
|
|
|
|
|
|
|
Research and
development
|
(47,284)
|
|
186
|
|
(47,098)
|
|
(7,294)
|
Selling and
marketing
|
(121,845)
|
|
460
|
|
(121,385)
|
|
(18,800)
|
General and
administrative
|
(53,022)
|
|
1,436
|
|
(51,586)
|
|
(7,991)
|
Other operating
expense
|
2,162
|
|
-
|
|
2,162
|
|
335
|
Total operating
income and expenses
|
(219,989)
|
|
2,082
|
|
(217,907)
|
|
(33,750)
|
|
|
|
|
|
|
|
|
Operating
loss
|
(58,817)
|
|
2,389
|
|
(56,428)
|
|
(8,740)
|
Net income
attributable to Cheetah Mobile shareholders
|
917
|
|
2,389
|
|
3,306
|
|
512
|
|
|
|
|
|
|
|
|
Diluted earnings per
ordinary share (RMB)
|
0.00
|
|
0.00
|
|
0.00
|
|
|
Diluted earnings per
ADS (RMB)
|
0.01
|
|
0.02
|
|
0.02
|
|
|
Diluted earnings per
ADS (USD)
|
0.00
|
|
0.00
|
|
0.00
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For The Three
Months Ended March 31, 2021
|
|
|
GAAP
|
|
Share-based
|
|
Non-GAAP
|
|
|
|
Result
|
|
Compensation
|
|
Result
|
|
|
|
RMB
|
|
RMB
|
|
RMB
|
|
|
Revenues
|
198,420
|
|
-
|
|
198,420
|
|
|
Cost of
revenues
|
(59,359)
|
|
313
|
|
(59,046)
|
|
|
Gross
profit
|
139,061
|
|
313
|
|
139,374
|
|
|
|
|
|
|
|
|
|
|
Research and
development
|
(73,251)
|
|
2,722
|
|
(70,529)
|
|
|
Selling and
marketing
|
(79,716)
|
|
(49)
|
|
(79,765)
|
|
|
General and
administrative
|
(44,106)
|
|
(4,612)
|
|
(48,718)
|
|
|
Other operating
expense
|
1,484
|
|
-
|
|
1,484
|
|
|
Total operating
income and expenses
|
(195,589)
|
|
(1,939)
|
|
(197,528)
|
|
|
|
|
|
|
|
|
|
|
Operating
loss
|
(56,528)
|
|
(1,626)
|
|
(58,154)
|
|
|
Net income
attributable to Cheetah Mobile shareholders
|
76,447
|
|
(1,626)
|
|
74,821
|
|
|
|
|
|
|
|
|
|
|
Diluted earnings per
ordinary share (RMB)
|
0.05
|
|
0.00
|
|
0.05
|
|
|
Diluted earnings per
ADS (RMB)
|
0.54
|
|
(0.01)
|
|
0.53
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For The Three
Months Ended June 30, 2020
|
|
|
GAAP
|
|
Share-based
|
|
Non-GAAP
|
|
|
|
Result
|
|
Compensation
|
|
Result
|
|
|
|
RMB
|
|
RMB
|
|
RMB
|
|
|
Revenues
|
394,210
|
|
-
|
|
394,210
|
|
|
Cost of
revenues
|
(113,661)
|
|
230
|
|
(113,431)
|
|
|
Gross
profit
|
280,549
|
|
230
|
|
280,779
|
|
|
|
|
|
|
|
|
|
|
Research and
development
|
(125,036)
|
|
11,826
|
|
(113,210)
|
|
|
Selling and
marketing
|
(205,562)
|
|
785
|
|
(204,777)
|
|
|
General and
administrative
|
(133,840)
|
|
37,359
|
|
(96,481)
|
|
|
Other operating
income
|
998
|
|
-
|
|
998
|
|
|
Total operating
income and expenses
|
(463,440)
|
|
49,970
|
|
(413,470)
|
|
|
|
|
|
|
|
|
|
|
Operating
loss
|
(182,891)
|
|
50,200
|
|
(132,691)
|
|
|
Net loss attributable
to Cheetah Mobile shareholders
|
193,721
|
|
50,200
|
|
243,921
|
|
|
|
|
|
|
|
|
|
|
Diluted losses per
ordinary share (RMB)
|
0.14
|
|
0.04
|
|
0.17
|
|
|
Diluted losses per
ADS (RMB)
|
1.38
|
|
0.36
|
|
1.74
|
|
|
|
|
|
|
|
|
|
|
CHEETAH MOBILE
INC.
|
|
|
|
|
|
|
|
|
|
Information about
Segment
|
|
|
|
|
|
|
|
|
|
(Unaudited,
amounts in thousands of Renminbi ("RMB") and US dollars ("US$"),
except for percentage)
|
|
|
|
|
|
|
|
|
|
|
|
For The Three
Months Ended June 30, 2021
|
|
|
|
Internet
Business
|
|
AI and
others
|
|
Unallocated*
|
|
Consolidated
|
|
RMB
|
|
RMB
|
|
RMB
|
|
RMB
|
|
USD
|
Revenue
|
203,790
|
|
7,936
|
|
-
|
|
211,726
|
|
32,792
|
Operating
loss
|
(3,396)
|
|
(53,032)
|
|
(2,389)
|
|
(58,817)
|
|
(9,110)
|
Operating
margin
|
(1.7)%
|
|
(668.2)%
|
|
-
|
|
(27.8)%
|
|
(27.8)%
|
|
|
|
|
|
|
|
|
|
|
|
|
For The Three
Months Ended March 31, 2021
|
|
|
|
Internet
Business
|
|
AI and
others
|
|
Unallocated*
|
|
Consolidated
|
|
|
|
RMB
|
|
RMB
|
|
RMB
|
|
RMB
|
|
|
Revenue
|
187,598
|
|
10,822
|
|
-
|
|
198,420
|
|
|
Operating
profit/(loss)
|
27,731
|
|
(85,885)
|
|
1,626
|
|
(56,528)
|
|
|
Operating
margin
|
14.8%
|
|
(793.6)%
|
|
-
|
|
(28.5)%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For The Three
Months Ended June 30, 2020
|
|
|
|
Internet
Business
|
|
AI and
others
|
|
Unallocated*
|
|
Consolidated
|
|
|
|
RMB
|
|
RMB
|
|
RMB
|
|
RMB
|
|
|
Revenue
|
374,759
|
|
19,451
|
|
-
|
|
394,210
|
|
|
Operating
profit/(loss)
|
35,609
|
|
(168,300)
|
|
(50,200)
|
|
(182,891)
|
|
|
Operating
margin
|
9.5%
|
|
(865.3)%
|
|
-
|
|
(46.4)%
|
|
|
|
|
|
|
|
|
|
|
|
|
* Unallocated
expenses refer to SBC expenses that are not allocated to individual
segments.
|
|
|
CHEETAH MOBILE
INC.
|
|
|
|
|
|
|
|
Reconciliation
from Net Income Attributable to Cheetah Mobile Shareholders to
Adjusted EBITDA (Non-GAAP)
|
|
|
(Unaudited,
amounts in thousands of Renminbi ("RMB") and US dollars
("US$"))
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For The Three
Months Ended
|
|
June 30,
2020
|
|
March 31,
2021
|
|
June 30,
2021
|
|
June 30,
2021
|
|
RMB
|
|
RMB
|
|
RMB
|
|
USD
|
Net income
attributable to Cheetah Mobile shareholders
|
193,721
|
|
76,447
|
|
917
|
|
142
|
Add:
|
|
|
|
|
|
|
|
Income tax
expenses
|
82,198
|
|
7,792
|
|
316
|
|
49
|
Interest income,
net
|
(8,496)
|
|
(4,786)
|
|
(3,644)
|
|
(564)
|
Depreciation and
amortization
|
18,528
|
|
8,144
|
|
8,719
|
|
1,350
|
Net (loss)/income
attributable to noncontrolling interests
|
(5,626)
|
|
774
|
|
707
|
|
110
|
Other income,
net
|
(444,688)
|
|
(136,755)
|
|
(57,113)
|
|
(8,847)
|
Share-based
compensation
|
50,200
|
|
(1,626)
|
|
2,389
|
|
370
|
Adjusted
EBITDA
|
(114,163)
|
|
(50,010)
|
|
(47,709)
|
|
(7,390)
|
View original
content:https://www.prnewswire.com/news-releases/cheetah-mobile-announces-second-quarter-2021-unaudited-consolidated-financial-results-301370029.html
SOURCE Cheetah Mobile