Cheetah Mobile Announces First Quarter 2024 Unaudited Consolidated Financial Results
BEIJING,
Management Commentary
Mr.
First Quarter 2024 Consolidated Financial Results
Total revenues increased by 11.6% year over year and 13.7% quarter over quarter to
-
Revenues from the Company's internet business decreased by 9.4% year over year but increased by 1.2% quarter-over-quarter to
RMB109.0 million (US$15.1 million ) in the first quarter of 2024. The year-over-year decrease was mainly due to the Company's proactive approach to shifting its focus from the internet business to enterprise-facing large language-related business. As a result, the Company continued to review its consumer-facing product portfolio and removed products and product features that did not address user's pain points in the quarter. In the first quarter of 2024, revenues generated from the internet business accounted for 57.3% of total revenues, compared to 70.6% in the same period last year and 64.4% in the previous quarter. -
Revenues from AI and others increased by 62.1% year over year and 36.3% quarter over quarter to
RMB81.3 million (US$11.3 million ) in the first quarter of 2024. The growth was primarily driven by an increase in the delivery of the Company's service robots, following the acquisition of a controlling stake in Beijing OrionStar. In the first quarter of 2024, revenues generated from AI and others accounted for 42.7% of total revenues, compared to 29.4% in the same period last year and 35.6% in the previous quarter.
Cost of revenues increased by 37.0% year over year and 12.8% quarter over quarter to
Total operating expenses increased by 23.9% year over year and 21.2% quarter over quarter to
-
Research and development expenses increased by 26.2% year over year and 44.8% quarter over quarter to
RMB57.3 million (US$7.9 million ) in the first quarter of 2024, primarily due to higher personnel-related expenses as the Company expanded its R&D team following the acquisition of a controlling stake in Beijing OrionStar. Non-GAAP research and development expenses increased by 11.8% year over year and 41.7% quarter over quarter toRMB50.9 million (US$7.0 million ) in the first quarter of 2024. -
Selling and marketing expenses decreased by 0.5% year over year but increased by 19.7% quarter over quarter to
RMB67.9 million (US$9.4 million ) in the first quarter of 2024. The quarter-over-quarter increase was primarily due to 1) increased marketing and promotion expenses related to our user acquisition for certain products of our internet business; and 2) increased personnel-related expenses as the Company increased its sales personnel following the acquisition of a controlling stake in Beijing OrionStar. Non-GAAP selling and marketing expenses decreased by 0.8% year over year but increased by 19.8% toRMB67.5 million (US$9.4 million ) in the first quarter of 2024. -
General and administrative expenses increased by 56.7% year over year and 8.9% quarter over quarter to
RMB69.1 million (US$9.6 million ) in the first quarter of 2024, primarily due to 1) increased personnel-related expenses as the Company increased the number of its G&A personnel following the acquisition of a controlling stake in Beijing OrionStar, 2) increased share-based compensation expenses for our key employees. Non-GAAP general and administrative expenses increased by 42.1% year over year and 11.0% quarter over quarter toRMB61.9 million (US$8.6 million ) in the first quarter of 2024.
Operating loss was
Share-based compensation expenses were
By segment, operating margin excluding share-based compensation expense for internet business was 7.9% in the first quarter of 2024, which improved from 3.1% in the same period last year, but slightly decreased from 8.8% in the previous quarter.
Other expenses, net were RMB7.6 million (
Net loss attributable to
Diluted loss per ADS was
Balance Sheet
As of
Conference Call Information
The Company will hold a conference call on
Main Line:
International: 1-412-317-6061
United States Toll Free: 1-888-317-6003
Mainland
Hong Kong Toll Free: 800-963976
Conference ID: 8764416
English Translation:
International: 1-412-317-6061
United States Toll Free: 1-888-317-6003
Mainland
Hong Kong Toll Free: 800-963976
Conference ID: 0625357
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
About
Safe Harbor Statement
This press release contains forward-looking statements. These statements, including management quotes and business outlook, constitute forward-looking statements under the
Use of Non-GAAP Financial Measures
This release contains non-GAAP financial measures, including but not limited to:
- 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 expenses.
- Total non-GAAP operating expenses exclude share-based compensation expenses and amortization of intangible assets resulting from business acquisitions.
- Non-GAAP research and development expenses exclude share-based compensation expenses and amortization of intangible assets resulting from business acquisitions.
- Non-GAAP selling and marketing expenses exclude share-based compensation expenses and amortization of intangible assets resulting from business acquisitions.
- Non-GAAP general and administrative expenses exclude share-based compensation expenses.
- Non-GAAP operating profit/loss excludes share-based compensation expenses and amortization of intangible assets resulting from business acquisitions.
- Non-GAAP net income/loss attributable to
Cheetah Mobile shareholders excludes share-based compensation expenses and amortization of intangible assets resulting from business acquisitions. - Non-GAAP diluted earnings/losses per ADS excludes share-based compensation expenses and amortization of intangible assets resulting from business acquisitions.
- Non-GAAP adjusted EBITDA represents net income/loss attributable to
Cheetah Mobile shareholders excluding share-based compensation, amortization of intangible assets resulting from business acquisitions, interest income, depreciation and amortization, net income attributable to noncontrolling interests, other 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 and amortization of intangible assets resulting from business acquisitions, 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
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|||||||||||
Condensed Consolidated Balance Sheets |
|||||||||||
(Unaudited, amounts in thousands of Renminbi ("RMB") and US dollars ("US$")) |
|||||||||||
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|||||||||||
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|||||||||||
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As of |
|
|||||||||
|
|
|
|
|
|
||||||
|
RMB |
|
|
RMB |
|
|
USD |
|
|||
ASSETS |
|
|
|
|
|
|
|
|
|||
Current assets: |
|
|
|
|
|
|
|
|
|||
Cash and cash equivalents |
|
2,020,191 |
|
|
|
1,792,907 |
|
|
|
248,315 |
|
Short-term investments |
|
1,023 |
|
|
|
328 |
|
|
|
45 |
|
Accounts receivable, net |
|
401,064 |
|
|
|
438,596 |
|
|
|
60,745 |
|
Prepayments and other current assets, net |
|
973,127 |
|
|
|
1,231,793 |
|
|
|
170,601 |
|
Due from related parties, net |
|
71,505 |
|
|
|
77,408 |
|
|
|
10,721 |
|
Total current assets |
|
3,466,910 |
|
|
|
3,541,032 |
|
|
|
490,427 |
|
|
|
|
|
|
|
|
|
|
|||
Non-current assets: |
|
|
|
|
|
|
|
|
|||
Property and equipment, net |
|
53,884 |
|
|
|
49,531 |
|
|
|
6,860 |
|
Operating lease right-of-use assets |
|
30,451 |
|
|
|
27,636 |
|
|
|
3,828 |
|
Intangible assets, net |
|
218,559 |
|
|
|
211,376 |
|
|
|
29,275 |
|
|
|
576,989 |
|
|
|
576,989 |
|
|
|
79,912 |
|
Long-term investments |
|
937,460 |
|
|
|
933,011 |
|
|
|
129,221 |
|
Deferred tax assets |
|
188,503 |
|
|
|
189,775 |
|
|
|
26,284 |
|
Other non-current assets |
|
160,428 |
|
|
|
89,950 |
|
|
|
12,458 |
|
Total non-current assets |
|
2,166,274 |
|
|
|
2,078,268 |
|
|
|
287,838 |
|
|
|
|
|
|
|
|
|
|
|||
Total assets |
|
5,633,184 |
|
|
|
5,619,300 |
|
|
|
778,265 |
|
|
|
|
|
|
|
|
|
|
|||
LIABILITIES, MEZZANINE EQUITY |
|
|
|
|
|
|
|
|
|||
Current liabilities: |
|
|
|
|
|
|
|
|
|||
Bank loans |
|
5,000 |
|
|
|
5,000 |
|
|
|
692 |
|
Accounts payable |
|
170,185 |
|
|
|
172,150 |
|
|
|
23,842 |
|
Accrued expenses and other current liabilities |
|
2,437,210 |
|
|
|
2,400,597 |
|
|
|
332,479 |
|
Due to related parties |
|
84,147 |
|
|
|
84,508 |
|
|
|
11,704 |
|
Income tax payable |
|
31,603 |
|
|
|
34,417 |
|
|
|
4,767 |
|
Total current liabilities |
|
2,728,145 |
|
|
|
2,696,672 |
|
|
|
373,484 |
|
|
|
|
|
|
|
|
|
|
|||
Non-current liabilities: |
|
|
|
|
|
|
|
|
|||
Deferred tax liabilities |
|
54,540 |
|
|
|
53,281 |
|
|
|
7,379 |
|
Other non-current liabilities |
|
189,943 |
|
|
|
180,297 |
|
|
|
24,971 |
|
Total non-current liabilities |
|
244,483 |
|
|
|
233,578 |
|
|
|
32,350 |
|
|
|
|
|
|
|
|
|
|
|||
Total liabilities |
|
2,972,628 |
|
|
|
2,930,250 |
|
|
|
405,834 |
|
|
|
|
|
|
|
|
|
|
|||
Mezzanine equity: |
|
|
|
|
|
|
|
|
|||
Redeemable noncontrolling interests |
|
105,978 |
|
|
|
183,690 |
|
|
|
25,441 |
|
|
|
|
|
|
|
|
|
|
|||
Shareholders' equity: |
|
|
|
|
|
|
|
|
|||
Ordinary shares |
|
244 |
|
|
|
244 |
|
|
|
34 |
|
Additional paid-in capital |
|
2,711,875 |
|
|
|
2,716,181 |
|
|
|
376,187 |
|
Accumulated deficit |
|
(613,102) |
|
|
|
(693,137) |
|
|
|
(95,998) |
|
Accumulated other comprehensive income |
|
356,854 |
|
|
|
380,940 |
|
|
|
52,760 |
|
Total |
|
2,455,871 |
|
|
|
2,404,228 |
|
|
|
332,983 |
|
Noncontrolling interests |
|
98,707 |
|
|
|
101,132 |
|
|
|
14,007 |
|
|
|
|
|
|
|
|
|
|
|||
Total equity |
|
2,554,578 |
|
|
|
2,505,360 |
|
|
|
346,990 |
|
|
|
|
|
|
|
|
|
|
|||
Total liabilities, mezzanine equity and equity |
|
5,633,184 |
|
|
|
5,619,300 |
|
|
|
778,265 |
|
|
||||||||
Condensed Consolidated Statements of Comprehensive Income (Loss) |
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(Unaudited, amounts in thousands of Renminbi ("RMB") and US dollars ("US$"), except for number of shares and per |
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|
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|
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For The Three Months Ended |
||||||
|
|
|
|
|
|
|
|
|
|
|
RMB |
|
RMB |
|
RMB |
|
USD |
Revenues |
|
170,434 |
|
167,314 |
|
190,288 |
|
26,354 |
Internet business |
|
120,309 |
|
107,711 |
|
109,020 |
|
15,099 |
AI and others |
|
50,125 |
|
59,603 |
|
81,268 |
|
11,255 |
Cost of revenues (a) |
|
(56,163) |
|
(68,243) |
|
(76,952) |
|
(10,658) |
Gross profit |
|
114,271 |
|
99,071 |
|
113,336 |
|
15,696 |
|
|
|
|
|
|
|
|
|
Operating income and expenses: |
|
|
|
|
|
|
|
|
Research and development (a) |
|
(45,428) |
|
(39,583) |
|
(57,331) |
|
(7,940) |
Selling and marketing (a) |
|
(68,266) |
|
(56,746) |
|
(67,940) |
|
(9,410) |
General and administrative (a) |
|
(44,126) |
|
(63,502) |
|
(69,145) |
|
(9,576) |
Other operating income/(expense), net |
|
1,271 |
|
(185) |
|
508 |
|
70 |
Total operating income and expenses |
|
(156,549) |
|
(160,016) |
|
(193,908) |
|
(26,856) |
|
|
|
|
|
|
|
|
|
Operating loss |
|
(42,278) |
|
(60,945) |
|
(80,572) |
|
(11,160) |
Other income/(expenses): |
|
|
|
|
|
|
|
|
Interest income, net |
|
12,342 |
|
15,829 |
|
15,316 |
|
2,121 |
Foreign exchange gains/ (losses) |
|
14,463 |
|
17,407 |
|
(3,277) |
|
(454) |
Other expense, net |
|
(1,801) |
|
(321,244) |
|
(7,595) |
|
(1,052) |
|
|
|
|
|
|
|
|
|
Loss before taxes |
|
(17,274) |
|
(348,953) |
|
(76,128) |
|
(10,545) |
Income tax (expenses)/ benefits |
|
(178) |
|
47,760 |
|
(198) |
|
(27) |
Net loss |
|
(17,452) |
|
(301,193) |
|
(76,326) |
|
(10,572) |
Less: net income attributable to noncontrolling interests |
|
1,147 |
|
18 |
|
3,709 |
|
514 |
Net loss attributable to |
|
(18,599) |
|
(301,211) |
|
(80,035) |
|
(11,086) |
|
|
|
|
|
|
|
|
|
Net loss per share |
|
|
|
|
|
|
|
|
Basic |
|
(0.0126) |
|
(0.2056) |
|
(0.0549) |
|
(0.0076) |
Diluted |
|
(0.0129) |
|
(0.2056) |
|
(0.0550) |
|
(0.0076) |
|
|
|
|
|
|
|
|
|
Net loss per ADS |
|
|
|
|
|
|
|
|
Basic |
|
(0.6300) |
|
(10.2800) |
|
(2.7450) |
|
(0.3800) |
Diluted |
|
(0.6450) |
|
(10.2800) |
|
(2.7500) |
|
(0.3800) |
|
|
|
|
|
|
|
|
|
Weighted average number of shares outstanding |
|
|
|
|
|
|
|
|
Basic |
|
1,449,518,133 |
|
1,493,550,095 |
|
1,494,213,830 |
|
1,494,213,830 |
Diluted |
|
1,449,518,133 |
|
1,493,550,095 |
|
1,494,213,830 |
|
1,494,213,830 |
Weighted average number of ADSs outstanding |
|
|
|
|
|
|
|
|
Basic |
|
28,990,363 |
|
29,871,002 |
|
29,884,277 |
|
29,884,277 |
Diluted |
|
28,990,363 |
|
29,871,002 |
|
29,884,277 |
|
29,884,277 |
|
|
|
|
|
|
|
|
|
Other comprehensive (loss)/income , net of tax of nil |
|
|
|
|
|
|
|
|
Foreign currency translation adjustments |
|
(40,018) |
|
(29,112) |
|
21,031 |
|
2,913 |
Unrealized gains on available-for-sale securities, net |
|
- |
|
- |
|
1,772 |
|
245 |
Other comprehensive (loss)/ income |
|
(40,018) |
|
(29,112) |
|
22,803 |
|
3,158 |
Total comprehensive loss |
|
(57,470) |
|
(330,305) |
|
(53,523) |
|
(7,414) |
Less: Total comprehensive income attributable to |
|
913 |
|
687 |
|
2,426 |
|
336 |
Total comprehensive loss attributable to |
|
(58,383) |
|
(330,992) |
|
(55,949) |
|
(7,750) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For The Three Months Ended |
||||||
|
|
|
|
|
|
|
|
|
(a) Share-based compensation expenses |
|
RMB |
|
RMB |
|
RMB |
|
USD |
Cost of revenues |
|
119 |
|
70 |
|
92 |
|
13 |
Research and development |
|
(88) |
|
(426) |
|
292 |
|
40 |
Selling and marketing |
|
196 |
|
72 |
|
(44) |
|
(6) |
General and administrative |
|
552 |
|
7,714 |
|
7,245 |
|
1,003 |
Total |
|
779 |
|
7,430 |
|
7,585 |
|
1,050 |
|
|||||||||
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 |
||||||||
|
GAAP |
|
Share-based |
|
Amortization of |
|
Non-GAAP |
||
|
Result |
|
Compensation |
|
intangible assets* |
|
Result |
||
|
RMB |
|
RMB |
|
RMB |
|
RMB |
|
USD |
Revenues |
190,288 |
|
- |
|
- |
|
190,288 |
|
26,354 |
Cost of revenues |
(76,952) |
|
92 |
|
- |
|
(76,860) |
|
(10,645) |
Gross profit |
113,336 |
|
92 |
|
- |
|
113,428 |
|
15,709 |
|
|
|
|
|
|
|
|
|
|
Research and development |
(57,331) |
|
292 |
|
6,156 |
|
(50,883) |
|
(7,047) |
Selling and marketing |
(67,940) |
|
(44) |
|
469 |
|
(67,515) |
|
(9,351) |
General and administrative |
(69,145) |
|
7,245 |
|
- |
|
(61,900) |
|
(8,573) |
Other operating income, net |
508 |
|
- |
|
- |
|
508 |
|
70 |
Total operating income and expenses |
(193,908) |
|
7,493 |
|
6,625 |
|
(179,790) |
|
(24,901) |
|
|
|
|
|
|
|
|
|
|
Operating loss |
(80,572) |
|
7,585 |
|
6,625 |
|
(66,362) |
|
(9,192) |
Net loss attributable to |
(80,035) |
|
7,585 |
|
6,625 |
|
(65,825) |
|
(9,118) |
|
|
|
|
|
|
|
|
|
|
Diluted losses per ordinary share (RMB) |
(0.0550) |
|
0.0052 |
|
0.0043 |
|
(0.0455) |
|
|
Diluted losses per ADS (RMB) |
(2.7500) |
|
0.2600 |
|
0.2150 |
|
(2.2750) |
|
|
Diluted losses per ADS (USD) |
(0.3800) |
|
0.0360 |
|
0.0289 |
|
(0.3151) |
|
|
|
For The Three Months Ended |
||||||
|
GAAP |
|
Share-based |
|
Amortization of |
|
Non-GAAP |
|
Result |
|
Compensation |
|
intangible assets* |
|
Result |
|
RMB |
|
RMB |
|
RMB |
|
RMB |
Revenues |
167,314 |
|
- |
|
- |
|
167,314 |
Cost of revenues |
(68,243) |
|
70 |
|
- |
|
(68,173) |
Gross profit |
99,071 |
|
70 |
|
- |
|
99,141 |
|
|
|
|
|
|
|
|
Research and development |
(39,583) |
|
(426) |
|
4,104 |
|
(35,905) |
Selling and marketing |
(56,746) |
|
72 |
|
313 |
|
(56,361) |
General and administrative |
(63,502) |
|
7,714 |
|
- |
|
(55,788) |
Other operating expense, net |
(185) |
|
- |
|
- |
|
(185) |
Total operating income and expenses |
(160,016) |
|
7,360 |
|
4,417 |
|
(148,239) |
|
|
|
|
|
|
|
|
Operating loss |
(60,945) |
|
7,430 |
|
4,417 |
|
(49,098) |
Net loss attributable to |
(301,211) |
|
7,430 |
|
4,417 |
|
(289,364) |
|
|
|
|
|
|
|
|
Diluted losses per ordinary share (RMB) |
(0.2056) |
|
0.0051 |
|
0.0029 |
|
(0.1976) |
Diluted losses per ADS (RMB) |
(10.2800) |
|
0.2550 |
|
0.1450 |
|
(9.8800) |
|
For The Three Months Ended |
||||
|
GAAP |
|
Share-based |
|
Non-GAAP |
|
Result |
|
Compensation |
|
Result |
|
RMB |
|
RMB |
|
RMB |
Revenues |
170,434 |
|
- |
|
170,434 |
Cost of revenues |
(56,163) |
|
119 |
|
(56,044) |
Gross profit |
114,271 |
|
119 |
|
114,390 |
|
|
|
|
|
|
Research and development |
(45,428) |
|
(88) |
|
(45,516) |
Selling and marketing |
(68,266) |
|
196 |
|
(68,070) |
General and administrative |
(44,126) |
|
552 |
|
(43,574) |
Other operating income, net |
1,271 |
|
- |
|
1,271 |
Total operating income and expenses |
(156,549) |
|
660 |
|
(155,889) |
|
|
|
|
|
|
Operating loss |
(42,278) |
|
779 |
|
(41,499) |
Net loss attributable to |
(18,599) |
|
779 |
|
(17,820) |
|
|
|
|
|
|
Diluted losses per ordinary share (RMB) |
(0.0129) |
|
0.0006 |
|
(0.0123) |
Diluted losses per ADS (RMB) |
(0.6450) |
|
0.0300 |
|
(0.6150) |
|
|
|
|
|
|
* This represents amortization of intangible assets resulting from business acquisitions. |
|
||||||||||
Information about Segment |
||||||||||
(Unaudited, amounts in thousands of Renminbi ("RMB") and US dollars ("US$"), except for percentage) |
||||||||||
|
||||||||||
|
||||||||||
|
|
For The Three Months Ended |
|
|
||||||
|
|
Internet Business |
|
AI and others |
|
Unallocated* |
|
Consolidated |
||
|
|
RMB |
|
RMB |
|
RMB |
|
RMB |
|
USD |
Revenue |
|
109,020 |
|
81,268 |
|
- |
|
190,288 |
|
26,354 |
Operating profit/(loss) |
|
8,662 |
|
(81,649) |
|
(7,585) |
|
(80,572) |
|
(11,160) |
Operating margin |
|
7.9 % |
|
(100.5) % |
|
- |
|
(42.3) % |
|
(42.3) % |
|
|
For The Three Months Ended |
||||||
|
|
Internet Business |
|
AI and others |
|
Unallocated* |
|
Consolidated |
|
|
RMB |
|
RMB |
|
RMB |
|
RMB |
Revenue |
|
107,711 |
|
59,603 |
|
- |
|
167,314 |
Operating profit/(loss) |
|
9,489 |
|
(63,004) |
|
(7,430) |
|
(60,945) |
Operating margin |
|
8.8 % |
|
(105.7) % |
|
- |
|
(36.4) % |
|
|
For The Three Months Ended |
||||||
|
|
Internet Business |
|
AI and others |
|
Unallocated* |
|
Consolidated |
|
|
RMB |
|
RMB |
|
RMB |
|
RMB |
Revenue |
|
120,309 |
|
50,125 |
|
- |
|
170,434 |
Operating profit/(loss) |
|
3,755 |
|
(45,254) |
|
(779) |
|
(42,278) |
Operating margin |
|
3.1 % |
|
(90.3) % |
|
- |
|
(24.8) % |
|
|
|
|
|
|
|
|
|
*Unallocated expenses refer to SBC expenses that are not allocated to individual segments. |
|
|||||||||||||||||
Reconciliation from Net Income Attributable to Cheetah Mobile Shareholders to Adjusted EBITDA (Non-GAAP) |
|||||||||||||||||
(Unaudited, amounts in thousands of Renminbi ("RMB") and US dollars ("US$")) |
|||||||||||||||||
|
|||||||||||||||||
|
|||||||||||||||||
|
|
|
For The Three Months Ended |
|
|||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
|
|
RMB |
|
|
RMB |
|
|
RMB |
|
|
USD |
|
||||
Net loss attributable to |
|
|
|
(18,599) |
|
|
|
(301,211) |
|
|
|
(80,035) |
|
|
|
(11,086) |
|
Add: |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Income tax expenses/ (benefits) |
|
|
|
178 |
|
|
|
(47,760) |
|
|
|
198 |
|
|
|
27 |
|
Interest income, net |
|
|
|
(12,342) |
|
|
|
(15,829) |
|
|
|
(15,316) |
|
|
|
(2,121) |
|
Depreciation and other amortization(1) |
|
|
|
8,833 |
|
|
|
11,275 |
|
|
|
12,312 |
|
|
|
1,705 |
|
Net income attributable to noncontrolling interests |
|
|
|
1,147 |
|
|
|
18 |
|
|
|
3,709 |
|
|
|
514 |
|
Other (income)/ expense, net |
|
|
|
(12,662) |
|
|
|
303,837 |
|
|
|
10,872 |
|
|
|
1,506 |
|
Share-based compensation |
|
|
|
779 |
|
|
|
7,430 |
|
|
|
7,585 |
|
|
|
1,050 |
|
Amortization of intangible assets(2) |
|
|
|
- |
|
|
|
4,417 |
|
|
|
6,625 |
|
|
|
918 |
|
Adjusted EBITDA |
|
|
|
(32,666) |
|
|
|
(37,823) |
|
|
|
(54,050) |
|
|
|
(7,487) |
|
|
|||||||||||||||||
|
|||||||||||||||||
(1) This represents depreciation and other amortization exclude amortization of intangible assets resulting from |
|||||||||||||||||
(2) This represents amortization of intangible assets resulting from business acquisitions. |
View original content:https://www.prnewswire.com/news-releases/cheetah-mobile-announces-first-quarter-2024-unaudited-consolidated-financial-results-302166969.html
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