Cheetah Cellular Broadcasts Fourth Quarter and Full 12 months 2020 Unaudited Consolidated Monetary Outcomes

BEIJING, March 23, 2021 /PRNewswire/ — Cheetah Cellular Inc. (NYSE: CMCM) (“Cheetah Cellular” or the “Firm”), a number one web firm, right this moment introduced its unaudited consolidated monetary outcomes for the fourth quarter and full yr ended December 31, 2020.

Administration Commentary

Mr. Sheng Fu, Cheetah Cellular’s Chairman and Chief Government Officer, said, “For the total yr of 2020, Cheetah Cellular earned RMB1,559 million in revenues, and RMB417 million in GAAP internet revenue attributable to our shareholders, regardless of the unfavorable macro atmosphere. In 2020, we selected to strategically exit from abroad markets and focus our assets on the home market and the AI-related enterprise. Consequently, our complete price and bills decreased by 50% yr over yr in 2020. Particularly, the working earnings for our web enterprise elevated to RMB190 million in 2020, from an working lack of RMB78 million in 2019. Apart from, we additional divested our earlier investments in 2020 to enhance our money circulate.”

Mr. Thomas Ren, Cheetah Cellular’s Chief Monetary Officer, commented, “Our stability sheet remained sturdy. As of December 31, 2020, we had roughly US$255 million in money and money equivalents, restricted money, and short-term investments, in addition to US$369 million in long-term investments. Our sturdy stability sheet supplied us the flexibleness to our continued funding in our house market and AI-related enterprise.”

Fourth Quarter 2020 Consolidated Monetary Outcomes

REVENUES

Whole revenues had been RMB271.2 million (US$41.6 million) within the fourth quarter of 2020, representing a lower of 55.7% yr over yr. The year-over-year lower was primarily because of the suspension of the Firm’s collaborations with Google since February 2020. Such year-over-year lower was additionally a results of the Firm’s disposal of sure gaming-related enterprise and property.

On February 21, 2020, the Firm introduced that the Firm’s Google Play Retailer, Google AdMob, and Google AdManager accounts had been disabled, which adversely affected its potential to draw new customers and generate income from Google. Given the unfavorable atmosphere within the abroad markets, the Firm has chosen to shift its focus from worldwide markets to the home market. In 2020, the Firm disposed sure gaming-related enterprise and property within the abroad markets. Consequently, the Firm expects the income contribution from its cellular recreation enterprise to lower within the foreseeable future. Put up such disposals, Cheetah Cellular’s enterprise primarily includes of two segments. One is the Web enterprise, which incorporates its utility product on each the PC and cellular platforms in home market and a remaining and diminishing portion of its cellular recreation enterprise. The opposite is AI and others. Due to this fact, the Firm began reporting its revenues and working earnings by the under two enterprise strains from this quarter. The Firm has retrospectively revised phase data from the earlier interval to evolve to the requisite presentation for the present interval.

Revenues from the Firm’s web enterprise decreased by 56.0% yr over yr to RMB257.Zero million (US$39.Four million) within the fourth quarter of 2020. Roughly 73.6% of the Firm’s revenues from its web enterprise had been generated by the utility merchandise and associated providers, and the remaing was coming from the cellular recreation enterprise.

Revenues from the AI and others decreased by 49.7% yr over yr to RMB14.2 million (US$2.2 million) within the fourth quarter of 2020. This lower was primarily attributable to a decline in sale of consumer-facing AI-related merchandise.

COST OF REVENUES AND GROSS PROFIT

Value of revenues decreased by 59.4% yr over yr to RMB74.Zero million (US$11.Three million) within the fourth quarter of 2020. The lower was primarily attributable to lowered prices related to the Firm’s transfer to exit from abroad operation. Non-GAAP price of revenues decreased by 59.5% yr over yr to RMB73.7 million (US$11.Three million) within the fourth quarter of 2020.

Gross revenue decreased by 54.1% yr over yr to RMB197.2 million (US$30.2 million) within the fourth quarter of 2020. Non-GAAP gross revenue decreased by 54.0% yr over yr to RMB197.5 million (US$30.Three million) within the fourth quarter of 2020.

Gross margin was 72.7% within the fourth quarter of 2020, in comparison with 70.2% within the fourth quarter of 2019. Non-GAAP gross margin was 72.8% within the fourth quarter of 2020, in comparison with 70.2% within the fourth quarter of 2019.

OPERATING INCOME/LOSS AND EXPENSES

Whole working bills decreased by 77.6% yr over yr to RMB271.Three million (US$41.6 million) within the fourth quarter of 2020. Whole non-GAAP working bills decreased by 59.7% yr over yr to RMB254.9 million (US$39.1 million) within the fourth quarter of 2020.

  • Analysis and growth bills decreased by 44.5% yr over yr to RMB85.2 million (US$13.1 million) within the fourth quarter of 2020. This lower was primarily attributable to a discount within the analysis and growth personnel. Non-GAAP analysis and growth bills decreased by 42.0% yr over yr to RMB79.7 million (US$12.2 million) within the fourth quarter of 2020.
  • Promoting and advertising and marketing bills decreased by 73.9% yr over yr to RMB89.9 million (US$13.Eight million) within the fourth quarter of 2020. This lower was primarily because of the discount in promotional actions. Non-GAAP promoting and advertising and marketing bills decreased by 73.9% yr over yr to RMB89.5 million (US$13.7 million) within the fourth quarter of 2020.
  • Normal and administrative bills decreased by 50.1% yr over yr to RMB87.Three million (US$13.Four million) within the fourth quarter of 2020. This lower was primarily attributable to lowered normal and administrative personnel and lowered skilled service charges. Non-GAAP normal and administrative bills decreased by 52.2% yr over yr to RMB76.Eight million (US$11.Eight million) within the fourth quarter of 2020.

Working loss was RMB74.2 million (US$11.Four million) within the fourth quarter of 2020, lowered from RMB780.Four million in the identical interval final yr. Non-GAAP working loss was RMB57.Four million (US$8.Eight million) within the fourth quarter of 2020, lowered from RMB203.5 million in the identical interval final yr.

  • Working revenue for the web enterprise was RMB75.6 million within the fourth quarter of 2020, considerably elevated from an working lack of RMB91.7 million in the identical interval final yr attributable to lowered  price and bills. 
  • Working loss for AI and others enterprise was RMB133.Zero million within the fourth quarter of 2020, in comparison with an working lack of RMB111.Eight million in the identical interval final yr.

Share-based compensation bills had been RMB16.Eight million (US$2.6 million) within the fourth quarter of 2020, in comparison with RMB31.Three million in the identical interval final yr.

OTHER INCOME, NET

Different revenue, internet was RMB102.Three million (US$15.7 million) within the fourth quarter of 2020, which was primarily attributable to will increase in truthful worth of sure long-term investments.

NET INCOME ATTRIBUTABLE TO CHEETAH MOBILE SHAREHOLDERS

Internet revenue attributable to Cheetah Cellular shareholders was RMB68.Four million (US$10.5 million) within the fourth quarter of 2020, in comparison with a internet loss attributable to Cheetah Cellular shareholders of RMB821.2 million in the identical interval final yr.

Non-GAAP internet revenue attributable to Cheetah Cellular shareholders was RMB85.2 million (US$13.1 million) within the fourth quarter of 2020, in comparison with a non-GAAP internet revenue attributable to Cheetah Cellular shareholders of RMB244.2 million in the identical interval final yr.

NET INCOME PER ADS

Diluted earnings per ADS was RMB0.49 (US$0.07) within the fourth quarter of 2020, in comparison with losses per ADS of RMB5.98 in the identical interval final yr. Non-GAAP diluted earnings per ADS was RMB0.60 (US$0.09) in fourth quarter of 2020, in comparison with losses per ADS of RMB1.78 in the identical interval final yr.

BALANCE SHEET

As of December 31, 2020, the Firm had money and money equivalents, restricted money, and short-term investments of RMB1,661.Three million (US$254.6 million). 

SHARES ISSUED AND OUTSTANDING

As of December 31, 2020, the Firm had a complete of 1,403,070,144 Class A and Class B odd shares issued and excellent. One ADS represents 10 Class A odd shares.

Fiscal 12 months 2020 Outcomes

REVENUES

Whole revenues decreased by 56.6% to RMB1,558.6 million (US$238.9 million) in 2020.

Revenues from the Firm’s web enterprise decreased by 57.3% yr over yr to RMB1,471.9 million (US$225.6 million) in 2020. The year-over-over lower was primarily because of the suspension of the Firm’s collaborations with Google since February 2020, and the deconsolidation of LiveMe.

In 2020, roughly 53.1% of the Firm’s revenues from the web enterprise had been generated by its utility merchandise and associated providers whereas the remainder of its revenues had been generated from the cellular recreation enterprise.

Revenues from the AI and others decreased by 39.4% yr over yr to RMB86.7 million (US$13.Three million), largely attributable to decline in sale of consumer-facing AI-related merchandise.

COST OF REVENUES AND GROSS PROFIT

Value of revenues decreased by 63.8% yr over yr to RMB449.Zero million (US$68.Eight million) in 2020. The year-over-year lower was primarily attributable to a major discount in prices related to the Firm’s abroad enterprise and the deconsolidation of LiveMe. Non-GAAP price of revenues decreased by 63.9% yr over yr to RMB448.Zero million (US$68.7 million) in 2020.

Gross revenue decreased by 52.7% yr over yr to RMB1,109.6 million (US$170.1 million) in 2020. Non-GAAP gross revenue decreased by 52.7% yr over yr to RMB1,110.6 million (US$170.2 million) in 2020.

Gross Margin elevated to 71.2% in 2020 from 65.4% in 2019. Non-GAAP gross margin elevated to 71.3% in 2020 from 65.4% in 2019.

OPERATING INCOME/LOSS AND EXPENSES

Whole working bills decreased by 52.5% yr over yr to RMB1,640.7 million (US$251.Four million) in 2020. Whole non-GAAP working bills decreased by 43.9% yr over yr to RMB1,560.Eight million (US$239.2 million).

  • Analysis and growth bills decreased by 40.3% yr over yr to RMB470.Four million (US$72.1 million) in 2020. The year-over-year lower was primarily because of the lower in R&D personnel, and the deconsolidation of LiveMe. Non-GAAP analysis and growth bills decreased by 39.3% yr over yr to RMB441.Three million (US$67.6 million).
  • Promoting and advertising and marketing bills decreased by 51.0% yr over yr to RMB763.Eight million (US$117.1 million) in 2020. The year-over-year lower was primarily because of the discount in promotional actions, and the deconsolidation of LiveMe. Non-GAAP promoting and advertising and marketing bills decreased by 50.8% yr over yr to RMB764.9 million (US$117.2 million).
  • Normal and administrative bills decreased by 31.8% yr over yr to RMB400.Eight million (US$61.Four million) in 2020, which was primarily attributable to lowered normal and administrative personnel and lowered skilled service charges. Non-GAAP normal and administrative bills decreased by 33.4% yr over yr to RMB348.9 million (US$53.5 million).

Working loss was RMB531.1 million (US$81.Four million) in 2020, in comparison with RMB1,110.9 million in 2019. Non-GAAP working loss was RMB450.1 million (US$69.Zero million) in 2020, in comparison with RMB437.Eight million in 2019.

  • Working revenue for the web enterprise was RMB189.7 million in 2020, in comparison with an working lack of RMB78.2 million in 2019, primarily attributable to a lower in price and bills and the deconsolidation of LiveMe.
  • Working loss for AI and others enterprise was RMB640.6 million in 2020, in comparison with RMB359.6 million in 2019, attributable to the Firm’s elevated funding into its AI enterprise.

Share-based compensation bills decreased by 36.5% yr over yr to RMB81.Zero million (US$12.Four million) in 2020, as extra unvested awarded shares had been forfeited in 2020.

OTHER INCOME, NET

Different revenue, internet was RMB977.Zero million (US$149.7 million) in 2020, which was primarily because of the disposal of fairness possession in Bytedance Ltd. in addition to the disposal of sure enterprise and property throughout 2020.

NET INCOME ATTRIBUTABLE TO CHEETAH MOBILE SHAREHOLDERS

Internet revenue attributable to Cheetah Cellular shareholders was RMB416.7 million (US$63.9 million) in 2020, as in comparison with internet loss attributable to Cheetah Cellular shareholders of RMB314.Zero million in 2019.

Non-GAAP internet revenue attributable to Cheetah Cellular shareholders was RMB497.7 million (US$76.Three million) in 2020, as in comparison with RMB359.1 million in 2019.

NET INCOME PER ADS

Diluted earnings per ADS was RMB3.01 (US$0.46) in 2020, as in comparison with loss per ADS of RMB2.51 in 2019. Non-GAAP diluted earnings per ADS was RMB3.59 (US$0.55) in 2020, as in comparison with non-GAAP diluted earnings per ADS of RMB2.40 in 2019.

Latest Growth

Cheetah Cellular right this moment introduced that Mr. Pin Zhou has resigned as Director and Senior Vice President of the Firm for private causes, efficient March 31, 2021. Mr. Zhou’s resignation didn’t consequence from any disagreement with the Firm.

Enterprise Outlook

For the primary quarter of 2021, the Firm expects its complete revenues to be between RMB165 million (US$25.Three million) and RMB215 million (US$33.Zero million). This quantity displays the Firm’s present and preliminary expectations.

Convention Name Data

The Firm will maintain a convention name on Tuesday, March 23, 2021, at 7:00 a.m. Japanese Time (or 7:00 p.m. Beijing Time) to debate its monetary outcomes. Listeners could entry the decision by dialing the next numbers:

Worldwide: +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
Convention ID: Cheetah Cellular

The replay will likely be accessible March 30, 2021 by dialing the next numbers:

Worldwide: +1-412-317-0088
United States Toll Free: +1-877-344-7529
Entry Code: 10152999

A dwell and archived webcast of the convention name will even be out there on the Firm’s investor relations web site at http://ir.cmcm.com.

Change Fee

This press launch accommodates translations of sure Renminbi quantities into U.S. {dollars} at specified charges solely for the comfort of readers. Until in any other case famous, all translations from Renminbi to U.S. {dollars} on this press launch had been made at a charge of RMB6.5250 to US$1.00, the trade charge in impact as of December 31, 2020, as set forth within the H.10 statistical launch of the Federal Reserve Board. Such translations shouldn’t be construed as representations that RMB quantities may very well be transformed into U.S. {dollars} at that charge or another charge, or to be the quantities that may have been reported underneath accounting rules usually accepted in the USA of America (“U.S. GAAP”).

About Cheetah Cellular Inc.

Cheetah Cellular is a number one Web firm. It has attracted a whole bunch of tens of millions of month-to-month energetic customers by way of its PC and cellular merchandise. The Firm’s promoting clients embrace direct advertisers and cellular promoting networks. By way of the Firm’s promoting merchandise, advertisers can promote their services to a variety of cellular customers. The Firm additionally offers value-added providers to its customers by way of the sale of premium providers. Cheetah Cellular is dedicated to leveraging its cutting-edge synthetic intelligence applied sciences to energy its merchandise and make the world smarter. It has been listed on the New York Inventory Change since Could 2014.

Protected Harbor Assertion

This press launch accommodates forward-looking statements. These statements, together with administration quotes and enterprise outlook, represent forward-looking statements underneath the U.S. Personal Securities Litigation Reform Act of 1995. These forward-looking statements will be recognized by terminology akin to “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and comparable statements. Such statements contain inherent dangers and uncertainties. Numerous elements might trigger precise outcomes to vary materially from these contained within the forward-looking statements, together with however usually are not restricted to the next: Cheetah Cellular’s development methods; Cheetah Cellular’s potential to retain and enhance its person base and broaden its product and repair choices; Cheetah Cellular’s potential to monetize its platform; Cheetah Cellular’s future enterprise growth, monetary situation and outcomes of operations; competitors with firms in plenty of industries together with web firms that present on-line advertising and marketing providers and web value-added providers; anticipated adjustments in Cheetah Cellular’s revenues and sure price or expense objects; and normal financial and enterprise situation globally and in China. Additional data relating to these and different dangers is included in Cheetah Cellular’s filings with the U.S. Securities and Change Fee. Cheetah Cellular doesn’t undertake any obligation to replace any forward-looking assertion because of new data, future occasions or in any other case, besides as required underneath relevant regulation.

Use of Non-GAAP Monetary Measures

This launch accommodates the next non-GAAP monetary measures:

  • Non-GAAP price of revenues excludes share-based compensation bills
  • Non-GAAP gross revenue excludes share-based compensation bills
  • Non-GAAP gross margin excludes share-based compensation expense
  • Whole non-GAAP working bills exclude share-based compensation bills and impairment of goodwill
  • Non-GAAP analysis and growth bills exclude share-based compensation bills
  • Non-GAAP promoting and advertising and marketing bills exclude share-based compensation bills
  • Non-GAAP normal and administrative bills exclude share-based compensation bills
  • Non-GAAP working revenue/loss excludes share-based compensation bills and impairment of goodwill
  • Non-GAAP internet revenue/loss attributable to Cheetah Cellular shareholders excludes share-based compensation bills and impairment of goodwill
  • Non-GAAP diluted revenue/loss per ADS excludes share-based compensation bills and impairment of goodwill

The Firm evaluations these non-GAAP monetary measures along with GAAP monetary measures to acquire a greater understanding of its working efficiency. It makes use of the non-GAAP monetary measures for planning, forecasting and measuring outcomes in opposition to the forecast. The Firm believes that non-GAAP monetary measures are helpful supplemental data for buyers and analysts to evaluate its working efficiency with out the impact of share-based compensation bills, which have been and can proceed to be vital recurring bills in its enterprise. Nonetheless, using non-GAAP monetary measures has materials limitations as an analytical software. One of many limitations of utilizing non-GAAP monetary measures is that they don’t embrace all objects that affect the Firm’s internet revenue for the interval. As well as, as a result of non-GAAP monetary measures usually are not measured in the identical method by all firms, they will not be similar to different equally titled measures utilized by different firms. In gentle of the foregoing limitations, you shouldn’t take into account non-GAAP monetary measure in isolation from or as an alternative choice to the monetary measure ready in accordance with U.S. GAAP. For extra data on these non-GAAP monetary measures, please see the tables captioned “Cheetah Cellular Inc. Reconciliations of GAAP and Non-GAAP Outcomes”.

Investor Relations Contact

Cheetah Cellular Inc.
Tel: +86 10 6292 7779 ext. 1600
Electronic mail: [email protected]







CHEETAH MOBILE INC.

Condensed Consolidated Stability Sheets

(Unaudited, quantities in 1000’s of Renminbi (“RMB”) and US {dollars} (“US$”))








As of


 December 31, 2019


December 31, 2020


December 31, 2020


RMB


RMB


USD

ASSETS






Present property:






Money and money equivalents

983,004


1,299,658


199,181

Restricted money

2,638


797


122

Brief-term investments

1,369,118


360,803


55,295

Accounts receivable

469,276


225,637


34,580

Prepayments and different present property

936,109


850,977


130,418

Due from associated events

233,255


202,476


31,031

Whole present property

3,993,400


2,940,348


450,627







Non-current property:






Property and gear, internet

103,397


101,984


15,630

Proper-of-use property, internet

183,563


17,729


2,717

Intangible property, internet 

44,476


12,575


1,927

Funding in fairness investees

194,473


216,126


33,123

Different lengthy time period investments

2,322,251


2,193,600


336,184

Due from associated events

25,533


23,881


3,660

Deferred tax property

31,951


15,607


2,392

Different non-current property

112,700


105,478


16,165

Whole non-current property

3,018,344


2,686,980


411,798







Whole property

7,011,744


5,627,328


862,425







LIABILITIES AND SHAREHOLDERS’ EQUITY






Present liabilities: 






Accounts payable

87,524


103,970


15,934

Accrued bills and different present liabilities

1,504,728


1,399,915


214,547

As a consequence of associated events

92,210


50,800


7,785

Earnings tax payable

60,657


27,505


4,215

Whole present liabilities

1,745,119


1,582,190


242,481







Non-current liabilities: 






Deferred tax liabilities

82,847


60,502


9,272

Different non-current liabilities

189,231


184,632


28,296

Whole non-current liabilities

272,078


245,134


37,568







Whole liabilities

2,017,197


1,827,324


280,049







Shareholders’ fairness:






Abnormal shares

225


234


36

Extra paid-in capital

2,649,342


2,726,619


417,873

Retained earnings

1,944,938


868,800


133,149

Collected different complete revenue

337,773


163,340


25,033

Whole Cheetah Cellular shareholders’ fairness

4,932,278


3,758,993


576,091

Noncontrolling pursuits

62,269


41,011


6,285







Whole fairness

4,994,547


3,800,004


582,376







Whole liabilities and fairness

7,011,744


5,627,328


862,425







   









CHEETAH MOBILE INC.

Condensed Consolidated Statements of Complete Earnings (Loss)

(Unaudited, quantities in 1000’s of Renminbi (“RMB”) and US {dollars} (“US$”), aside from variety of shares and per share(or ADS) information)










For The Three Months Ended


December 31, 2019


September 30, 2020


December 31, 2020


December 31, 2020


RMB


RMB


RMB


USD

Revenues

612,003


365,098


271,217


41,566

Web enterprise

583,698


343,802


256,976


39,384

AI and others

28,305


21,296


14,241


2,183









Value of revenues (a)

(182,271)


(113,584)


(74,050)


(11,349)

Gross revenue

429,732


251,514


197,167


30,217









Working revenue and bills: 








Analysis and growth (a)

(153,530)


(117,627)


(85,161)


(13,051)

Promoting and advertising and marketing (a) 

(343,993)


(165,547)


(89,944)


(13,785)

Normal and administrative (a) 

(174,899)


(91,021)


(87,312)


(13,381)

Impairment of goodwill 

(545,665)




Different working revenue (expense)

7,910


(3,354)


(8,924)


(1,368)

Whole working revenue and bills

(1,210,177)


(377,549)


(271,341)


(41,585)









Working loss

(780,445)


(126,035)


(74,174)


(11,368)

Different revenue (bills):








Curiosity revenue, internet

18,849


7,228


2,077


318

International trade acquire

5,478


32,690


22,203


3,403

(Loss) acquire from fairness methodology investments, internet

(322)


3,115


(7,883)


(1,208)

Different (expense) revenue, internet

(151,665)

378,297

102,286


15,676









(Loss) Earnings earlier than taxes

(908,105)


295,295


44,509


6,821

Earnings tax profit (bills)

36,927


(31,794)


23,441


3,592

Internet (loss) revenue

(871,178)


263,501


67,950


10,414

Much less: internet (loss) revenue attributable to noncontrolling pursuits 

(50,020)


4,333


(486)


(74)

Internet (loss) revenue attributable to Cheetah Cellular shareholders

(821,158)


259,168


68,436


10,488









(Loss) Earnings per share








Primary 

(0.60)


0.18


0.05


0.01

Diluted 

(0.60)


0.18


0.05


0.01









(Loss) Earnings per ADS








Primary 

(5.98)


1.83


0.49


0.07

Diluted 

(5.98)


1.82


0.49


0.07









Weighted common variety of shares excellent








Primary 

1,374,016,957


1,416,988,202


1,419,268,065


1,419,268,065

Diluted 

1,374,016,957


1,421,872,320


1,421,488,309


1,421,488,309

Weighted common variety of ADSs excellent








Primary 

137,401,696


141,698,820


141,926,807


141,926,807

Diluted 

137,401,696


142,187,232


142,148,831


142,148,831









Different complete (loss) revenue, internet of tax of nil








International forex translation changes

(60,937)


(106,081)


(119,253)


(18,276)

Unrealized acquire on available-for-sale securities, internet

4,241




Different complete loss

(56,696)


(106,081)


(119,253)


(18,276)

Whole complete (loss) revenue 

(927,874)


157,420


(51,303)


(7,863)

Much less: Whole complete (loss) revenue attributable to noncontrolling pursuits

(52,056)


3,563


(1,268)


(194)

Whole complete (loss) revenue attributable to Cheetah Cellular shareholders

(875,818)


153,857


(50,034)


(7,668)









 








CHEETAH MOBILE INC.

Condensed Consolidated Statements of Complete Earnings (Loss)

(Unaudited, quantities in 1000’s of Renminbi (“RMB”) and US {dollars} (“US$”), aside from variety of shares and per share(or ADS) information)



For The Three Months Ended




September 30, 2020


December 31, 2020


December 31, 2020

(a) Share-based compensation bills


RMB


RMB


USD

Value of revenues


366


352


54

Analysis and growth


5,099


5,429


832

Promoting and advertising and marketing


(1,120)


470


72

Normal and administrative


2,782


10,501


1,609

Whole


7,127


16,752


2,567


CHEETAH MOBILE INC.

Reconciliation of GAAP and Non-GAAP Outcomes

(Unaudited, quantities in 1000’s of Renminbi (“RMB”) and US {dollars} (“US$”), aside from per share information )


















For The Three Months Ended December 31, 2020


GAAP


Share-based 


Non-GAAP


Non-GAAP


Outcome


Compensation


Outcome


Outcome


RMB


RMB


RMB


USD

Revenues

271,217



271,217


41,566

Value of revenues

(74,050)


352


(73,698)


(11,295)

Gross revenue

197,167


352


197,519


30,271









Analysis and growth 

(85,161)


5,429


(79,732)


(12,219)

Promoting and advertising and marketing 

(89,944)


470


(89,474)


(13,713)

Normal and administrative 

(87,312)


10,501


(76,811)


(11,772)

Different working expense

(8,924)



(8,924)


(1,368)

Whole working revenue and bills

(271,341)


16,400


(254,941)


(39,072)









Working loss

(74,174)


16,752


(57,422)


(8,801)

Internet revenue attributable to Cheetah Cellular shareholders

68,436


16,752


85,188


13,056









Diluted earnings per odd share (RMB)

0.05


0.01


0.06



Diluted earnings per ADS (RMB)

0.49


0.12


0.60



Diluted earnings per ADS (USD)

0.07


0.02


0.09




























For The Three Months Ended September 30, 2020




GAAP


Share-based 


Non-GAAP




Outcome


Compensation


Outcome




RMB


RMB


RMB



Revenues

365,098



365,098



Value of revenues

(113,584)


366


(113,218)



Gross revenue

251,514


366


251,880











Analysis and growth 

(117,627)


5,099


(112,528)



Promoting and advertising and marketing 

(165,547)


(1,120)


(166,667)



Normal and administrative 

(91,021)


2,782


(88,239)



Different working expense

(3,354)



(3,354)



Whole working revenue and bills

(377,549)


6,761


(370,788)











Working loss

(126,035)


7,127


(118,908)



Internet revenue attributable to Cheetah Cellular shareholders

259,168


7,127


266,295











Diluted earnings per odd share (RMB)

0.18


0.01


0.19



Diluted earnings per ADS (RMB)

1.82


0.05


1.87




























For The Three Months Ended December 31, 2019


GAAP


Share-based 


Impairment


Non-GAAP


Outcome


Compensation


of Goodwill


Outcome


RMB


RMB


RMB


RMB

Revenues

612,003




612,003

Value of revenues

(182,271)


108



(182,163)

Gross revenue

429,732


108



429,840









Analysis and growth 

(153,530)


15,995



(137,535)

Promoting and advertising and marketing 

(343,993)


1,058



(342,935)

Normal and administrative 

(174,899)


14,155



(160,744)

Impairment of goodwill

(545,665)



545,665


Different working revenue

7,910




7,910

Whole working revenue and bills

(1,210,177)


31,208


545,665


(633,304)









Working loss

(780,445)


31,316


545,665


(203,464)

Internet loss attributable to Cheetah Cellular shareholders

(821,158)


31,316


545,665


(244,177)









Diluted loss per odd share (RMB)

(0.60)


0.02


0.40


(0.18)

Diluted loss per ADS (RMB)

(5.98)


0.23


3.97


(1.78)









CHEETAH MOBILE INC.

Details about Phase 

(Unaudited, quantities in 1000’s of Renminbi (“RMB”) and US {dollars} (“US$”), aside from proportion)












For The Three Months Ended December 31, 2020




Web Enterprise


AI and others 


Unallocated*


Consolidated


RMB


RMB


RMB


RMB


USD

Income

256,976


14,241



271,217


41,566

Working revenue (loss)

75,559


(132,981)


(16,752)


(74,174)


(11,368)

Working margin

29.4%


(933.8)%



(27.3)%


(27.3)%













For The Three Months Ended September 30, 2020




Web Enterprise


AI and others 


Unallocated*


Consolidated




RMB


RMB


RMB


RMB



Income

343,802


21,296



365,098



Working revenue (loss)

71,451


(190,358)


(7,127)


(126,035)



Working margin

20.8%


(893.9)%



(34.5)%
























For The Three Months Ended December 31, 2019




Web Enterprise


AI and others 


Unallocated*


Consolidated




RMB


RMB


RMB


RMB



Income

583,698


28,305



612,003



Working loss

(91,714)


(111,750)


(576,981)


(780,445)



Working margin

(15.7)%


(394.8)%



(127.5)%













* Unallocated bills discuss with SBC bills and goodwill impairment that aren’t allotted to particular person segments.





















CHEETAH MOBILE INC.

Reconciliation from Internet Earnings Attributable to Cheetah Cellular Shareholders to Adjusted EBITDA (Non-GAAP)

(Unaudited, quantities in 1000’s of Renminbi (“RMB”) and US {dollars} (“US$”))










For The Three Months Ended


December 31, 2019


September 30, 2020


December 31, 2020


December 31, 2020


RMB


RMB


RMB


USD

Internet (loss) revenue attributable to Cheetah Cellular shareholders

(821,158)


259,168


68,436


10,488

Add:








Earnings tax (advantages) bills

(36,927)


31,794


(23,441)


(3,592)

Curiosity revenue, internet

(18,849)


(7,228)


(2,077)


(318)

Depreciation and amortization

16,108


17,297


14,172


2,172

Internet (loss) revenue attributable to noncontrolling pursuits 

(50,020)


4,333


(486)


(74)

Different expense (revenue), internet

146,509


(414,102)


(116,606)


(17,871)

Share-based compensation 

31,316


7,127


16,752


2,567

Impairment of goodwill

545,665





Adjusted EBITDA

(187,356)


(101,611)


(43,250)


(6,628)









CHEETAH MOBILE INC.

Condensed Consolidated Statements of Complete Earnings (Loss)

(Unaudited, quantities in 1000’s of Renminbi (“RMB”) and US {dollars} (“US$”), aside from variety of shares and per share(or ADS) information)








For The Years Ended


December 31, 2019


December 31, 2020


December 31, 2020


RMB


RMB


USD

Revenues

3,587,695


1,558,613


238,868

Web enterprise

3,444,573


1,471,867


225,574

AI and others

143,122


86,746


13,294







Value of revenues (a)

(1,241,932)


(449,031)


(68,817)

Gross revenue

2,345,763


1,109,582


170,051







Working revenue and bills: 






Analysis and growth (a)  

(787,329)


(470,412)


(72,094)

Promoting and advertising and marketing (a) 

(1,558,315)


(763,806)


(117,058)

Normal and administrative (a) 

(587,457)


(400,794)


(61,424)

Impairment of goodwill

(545,665)



Different working revenue (expense)

22,091


(5,684)


(871)

Whole working revenue and bills

(3,456,675)


(1,640,696)


(251,447)







Working loss

(1,110,912)


(531,115)


(81,396)

Different revenue (bills):






Curiosity revenue, internet

110,010


35,655


5,464

International trade acquire

49


39,393


6,037

Achieve (loss) from fairness methodology investments, internet

19,781


(12,683)


(1,944)

Different revenue, internet

615,385


977,000


149,732







(Loss) Earnings earlier than taxes

(365,687)


508,250


77,893

Earnings tax bills

(7,904)


(97,090)


(14,880)

Internet (loss) revenue

(373,591)


411,160


63,013

Much less: internet loss attributable to noncontrolling pursuits 

(59,614)


(5,575)


(854)

Internet (loss) revenue attributable to Cheetah Cellular shareholders

(313,977)


416,735


63,867







(Loss) Earnings per share






Primary 

(0.25)


0.31


0.05

Diluted 

(0.25)


0.30


0.05







(Loss) Earnings per ADS






Primary 

(2.51)


3.05


0.47

Diluted 

(2.51)


3.01


0.46







Weighted common variety of shares excellent






Primary 

1,369,041,418


1,399,445,964


1,399,445,964

Diluted 

1,369,041,418


1,418,004,484


1,418,004,484

Weighted common variety of ADSs excellent






Primary 

136,904,142


139,944,596


139,944,596

Diluted 

136,904,142


141,800,448


141,800,448







Different complete revenue (loss), internet of tax of nil






International forex translation changes

77,097


(167,476)


(25,667)

Unrealized acquire (loss) on available-for-sale securities, internet

10,913


(7,250)


(1,111)

Different complete revenue (loss)

88,010


(174,726)


(26,778)

Whole complete (loss) revenue

(285,581)


236,435


36,235

Much less: Whole complete loss attributable to noncontrolling pursuits

(60,073)


(5,867)


(899)

Whole complete (loss) revenue attributable to Cheetah Cellular shareholders

(225,508)


242,302


37,134













CHEETAH MOBILE INC.
Condensed Consolidated Statements of Complete Earnings (Loss)
(Unaudited, quantities in 1000’s of Renminbi (“RMB”) and US {dollars} (“US$”), aside from variety of shares and per share(or ADS) information)


For The Years Ended


December 31, 2019


December 31, 2020


December 31, 2020


RMB


RMB


USD

(a) Share-based compensation bills






Value of revenues

524


1,044


160

Analysis and growth

59,771


29,091


4,458

Promoting and advertising and marketing

3,818


(1,087)


(167)

Normal and administrative

63,327


51,934


7,959

Whole

127,440


80,982


12,410














CHEETAH MOBILE INC.

Reconciliation of GAAP and Non-GAAP Outcomes

(Unaudited, quantities in 1000’s of Renminbi (“RMB”) and US {dollars} (“US$”), aside from per share information )






















For The 12 months Ended December 31, 2020




GAAP


Share-based 


Non-GAAP


Non-GAAP




Outcome


Compensation


Outcome


Outcome




RMB


RMB


RMB


USD



Revenues

1,558,613



1,558,613


238,868



Value of revenues

(449,031)


1,044


(447,987)


(68,657)



Gross revenue

1,109,582


1,044


1,110,626


170,211













Analysis and growth 

(470,412)


29,091


(441,321)


(67,635)



Promoting and advertising and marketing 

(763,806)


(1,087)


(764,893)


(117,225)



Normal and administrative 

(400,794)


51,934


(348,860)


(53,465)



Different working expense

(5,684)



(5,684)


(871)



Whole working revenue and bills

(1,640,696)


79,938


(1,560,758)


(239,196)













Working loss

(531,115)


80,982


(450,133)


(68,986)



Internet revenue attributable to Cheetah Cellular shareholders

416,735


80,982


497,717


76,279













Diluted earnings per odd share (RMB)

0.30


0.06


0.36





Diluted earnings per ADS (RMB)

3.01


0.57


3.59





Diluted earnings per ADS (USD)

0.46


0.09


0.55


























For The 12 months Ended December 31, 2019




GAAP


Share-based 


Impairment


Non-GAAP




Outcome


Compensation


of Goodwill


Outcome




RMB


RMB


RMB


RMB



Revenues

3,587,695




3,587,695



Value of revenues

(1,241,932)


524



(1,241,408)



Gross revenue

2,345,763


524



2,346,287













Analysis and growth 

(787,329)


59,771



(727,558)



Promoting and advertising and marketing 

(1,558,315)


3,818



(1,554,497)



Normal and administrative 

(587,457)


63,327



(524,130)



Impairment of goodwill

(545,665)



545,665




Different working revenue 

22,091




22,091



Whole working revenue and bills

(3,456,675)


126,916


545,665


(2,784,094)













Working loss

(1,110,912)


127,440


545,665


(437,807)



Internet (loss) revenue attributable to Cheetah Cellular shareholders

(313,977)


127,440


545,665


359,128













Diluted (loss) earnings per odd share (RMB)

(0.25)


0.09


0.40


0.24



Diluted (loss) earnings per ADS (RMB)

(2.51)


0.93


3.99


2.41













CHEETAH MOBILE INC.

Details about Phase 

(Unaudited, quantities in 1000’s of Renminbi (“RMB”) and US {dollars} (“US$”), aside from proportion)













For The 12 months Ended December 31, 2020



Web Enterprise


AI and others 


Unallocated*


Consolidated



RMB


RMB


RMB


RMB


USD


Income

1,471,867


86,746



1,558,613


238,868


Working revenue (loss)

190,428


(640,562)


(80,982)


(531,115)


(81,396)


Working margin

12.9%


(738.4)%




(34.1)%


(34.1)%
















For The 12 months Ended December 31, 2019





Web Enterprise


AI and others 


Unallocated*


Consolidated





RMB


RMB


RMB


RMB




Income

3,444,573


143,122



3,587,695




Working loss

(78,180)


(359,627)


(673,105)


(1,110,912)




Working margin

(2.3)%


(251.3)%




(31.0)%


























* Unallocated bills discuss with SBC bills and goodwill impairment that aren’t allotted to particular person segments.












 

CHEETAH MOBILE INC.

Reconciliation from Internet Earnings (Loss) Attributable to Cheetah Cellular Shareholders to Adjusted EBITDA (Non-GAAP)

(Unaudited, quantities in 1000’s of Renminbi (“RMB”) and US {dollars} (“US$”))










For The Years Ended



December 31, 2019


December 31, 2020


December 31, 2020



RMB


RMB


USD

Internet (loss) revenue attributable to Cheetah Cellular shareholders


(313,977)


416,735


63,867

Add:







        Earnings tax expense


7,904


97,090


14,880

        Curiosity revenue, internet


(110,010)


(35,655)


(5,464)

        Depreciation and amortization


65,461


68,545


10,505

        Internet loss attributable to noncontrolling pursuits 


(59,614)


(5,575)


(854)

        Different revenue, internet


(635,215)


(1,003,710)


(153,825)

        Share-based compensation 


127,440


80,982


12,410

        Impairment of goodwill


545,665



Adjusted EBITDA


(372,346)


(381,588)


(58,481)








SOURCE Cheetah Cellular Inc

Associated Hyperlinks

https://www.cmcm.com/

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