Core Insights - Cheetah Mobile reported a solid revenue growth of 12.3% year-over-year in Q2 2024, reaching RMB 187.4 million (US$ 25.8 million), driven by the service robotics business and AI contributions [2][3] - The company is focusing on long-term growth through investments in AI and service robotics, aiming to enhance product innovation and expand its global presence [2][3] - Despite operating losses, Cheetah Mobile generated over RMB 218 million in cash from operating activities, indicating strong cash management capabilities [2][3] Financial Performance - Total revenues for Q2 2024 were RMB 187.4 million (US$ 25.8 million), a 12.3% increase from the previous year, with AI and others contributing approximately 39.3% of total revenues [3] - Revenues from the internet business were relatively flat at RMB 113.7 million (US$ 15.7 million), accounting for 60.7% of total revenues, down from 69.1% year-over-year [3] - AI and others revenues increased by 42.8% year-over-year to RMB 73.7 million (US$ 10.1 million), driven by service robot deliveries following the acquisition of Beijing OrionStar [3] Operating Loss and Expenses - Operating loss for Q2 2024 was RMB 77.5 million (US$ 10.7 million), compared to RMB 65.6 million in the same period last year [3] - Non-GAAP operating loss was RMB 62.5 million (US$ 8.6 million), an increase from RMB 48.3 million year-over-year, attributed to investments in AI and increased costs [3] - Cost of revenues rose by 15.2% year-over-year to RMB 65.9 million (US$ 9.1 million), primarily due to higher hardware-related costs for service robots [3] Research and Development - Research and development expenses increased by 14.5% year-over-year to RMB 54.3 million (US$ 7.5 million), driven by amortization of intangible assets from the acquisition and higher personnel-related expenses [3] - Selling and marketing expenses rose by 17.3% year-over-year to RMB 73.4 million (US$ 10.1 million), reflecting increased marketing efforts and personnel costs [3] Cash and Investments - As of June 30, 2024, Cheetah Mobile had cash and cash equivalents and short-term investments totaling RMB 1,973.0 million (US$ 271.5 million) [3] - Long-term investments amounted to RMB 866.9 million (US$ 119.3 million) [3]

Core Points - Cheetah Mobile Inc. will report its financial results for Q2 2024 on September 13, 2024, before U.S. market opens [1] - The earnings conference call is scheduled for 7:00 AM U.S. Eastern Time on the same day [1] Company Overview - Cheetah Mobile is a China-based IT company focused on AI innovation, attracting hundreds of millions of users through various internet products and services [2] - The company engages in independent research and development of AI technologies, including LLM technologies [2] - Cheetah Mobile provides advertising services, value-added services like premium memberships, multi-cloud management platforms, and service robots to international clients [2] - The company has been listed on the New York Stock Exchange since May 2014 [2]

Financial Data and Key Metrics Changes - In Q1 2024, total revenue increased by 12% year-over-year and 14% quarter-over-quarter to RMB190 million [13] - Revenue from AI and others increased by 62% year-over-year and 36% quarter-over-quarter to RMB81 million, accounting for 43% of total revenue [5][13] - Non-GAAP operating loss was RMB66 million, up from RMB42 million in the same period last year and RMB49 million in the previous quarter [14] Business Line Data and Key Metrics Changes - The acquisition of Beijing OrionStar has significantly contributed to the AI and others segment, enhancing service robots' capabilities and revenue generation [12][13] - The internet business's operating profit margin improved to 7.9%, up from 3.1% in the same quarter last year, excluding the impact of LLM investments [15] Market Data and Key Metrics Changes - Overseas revenue has surpassed domestic revenue and continues to grow steadily, particularly in Japan and South Korea [8] - The focus on LLM-based applications is driven by increasing demand from enterprises for data security and efficiency improvements [6][9] Company Strategy and Development Direction - The company is shifting its focus from consumer (2C) to business (2B) markets, aiming for LLM-based applications to become a significant revenue driver [5][11] - The strategy includes leveraging the acquisition of OrionStar to enhance capabilities in AI and service robots, targeting the enterprise sector [6][12] Management Comments on Operating Environment and Future Outlook - Management emphasized the importance of patience in establishing a new growth engine through LLMs and customer satisfaction [11] - The company does not plan to set short-term revenue growth targets but aims for sustainable long-term growth in both revenue and margins [11][16] Other Important Information - As of March 31, 2024, the company had cash and cash equivalents and short-term investments of about US$250 million, indicating a healthy balance sheet [16] - The company has decided not to provide revenue guidance going forward [16] Q&A Session Summary - The Q&A session included multiple questions from analysts, but specific details of the questions and answers were not disclosed in the provided content [17][18][19][20][21][22]

Core Viewpoint - Cheetah Mobile is transitioning from a consumer-focused company to an enterprise-oriented business, emphasizing the development of customized large language model (LLM)-based applications for enterprises following its acquisition of Beijing OrionStar Technology [2][12]. Financial Performance - Total revenues for the first quarter of 2024 increased by 11.6% year over year and 13.7% quarter over quarter, reaching RMB190.3 million (US$26.4 million) [3]. - Revenues from the AI and others segment surged by 62.1% year over year and 36.3% quarter over quarter to RMB81.3 million (US$11.3 million), driven by the delivery of service robots post-acquisition [4]. - Internet business revenues decreased by 9.4% year over year but increased by 1.2% quarter over quarter to RMB109.0 million (US$15.1 million), reflecting a strategic shift towards enterprise solutions [4]. Cost and Expenses - Cost of revenues rose by 37.0% year over year and 12.8% quarter over quarter to RMB77.0 million (US$10.7 million), primarily due to increased hardware costs for service robots [5]. - Total operating expenses increased by 23.9% year over year and 21.2% quarter over quarter to RMB193.9 million (US$26.9 million), largely due to the acquisition of Beijing OrionStar [5]. - 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), reflecting the expansion of the R&D team [6]. Profitability Metrics - The operating loss widened to RMB80.6 million (US$11.2 million) in Q1 2024, compared to RMB42.3 million in the same period last year [7]. - Net loss attributable to Cheetah Mobile shareholders was RMB80.0 million (US$11.1 million) in Q1 2024, compared to RMB18.6 million in the same period last year [9]. - Diluted loss per ADS was RMB2.8 (US$0.4) in Q1 2024, compared to RMB0.6 in the same period last year [9]. Balance Sheet Highlights - As of March 31, 2024, the company had cash and cash equivalents and short-term investments totaling RMB1,793.2 million (US$248.4 million) [9].

Core Viewpoint - Cheetah Mobile Inc. is set to report its financial results for Q1 2024 on June 7, 2024, and will hold an earnings conference call to discuss these results [1]. Group 1: Financial Reporting - Cheetah Mobile will announce its financial results for the first quarter ended March 31, 2024, before the U.S. market opens on June 7, 2024 [1]. - An earnings conference call is scheduled for 7:00 AM U.S. Eastern Time on June 7, 2024, which will also be available in Beijing and Hong Kong time [1]. - The earnings release will be accessible on the Company's investor relations website [1]. Group 2: Company Overview - Cheetah Mobile is a China-based IT company focused on AI innovation, attracting hundreds of millions of users through various internet products and services [2]. - The company engages in independent research and development of AI technologies, including LLM technologies, and provides advertising services globally [2]. - Cheetah Mobile has been listed on the New York Stock Exchange since May 2014 [2].

BEIJING, April 18, 2024 /PRNewswire/ -- Cheetah Mobile Inc. (NYSE: CMCM) ("Cheetah Mobile" or the "Company"), a China-based IT company, today announced that it filed its annual report on Form 20-F for the fiscal year ended December 31, 2023, with the Securities and Exchange Commission on April 18, 2024. The annual report can be accessed on the Company's investor relations website at http://ir.cmcm.com or the SEC's website at www.sec.gov. About Cheetah Mobile Inc. Cheetah Mobile is a China-based IT company w ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023. OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________ OR ☐ SHELL COMPANY REPO ...

BEIJING, March 21, 2024 /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 half and full year 2023 ended December 31, 2023.  Management Commentary Mr. Sheng Fu, Cheetah Mobile's Chairman and Chief Executive Officer, stated, "In 2023, our total revenue was RMB669.5 million (USD94.3 million), which is within our guidance. We successfully completed the acquisition of contro ...

BEIJING, Jan. 12, 2024 /PRNewswire/ -- Cheetah Mobile Inc. (NYSE: CMCM) ("Cheetah Mobile" or the "Company"), a leading internet company, today announced that the Company, through two of its wholly-owned subsidiaries, has made an additional investment in Beijing OrionStar Technology Co., Ltd. ("Beijing OrionStar"), in which the Company held 72.91% equity interest before the investment. The Company, through a wholly-owned subsidiary, made an investment of US$16.7 million in Beijing OrionStar. Concurrently, Be ...

Table of Contents * Not for trading, but only in connection with the listing on the New York Stock Exchange of American depositary shares, each representing fifty Class A ordinary shares. Securities registered or to be registered pursuant to Section 12(g) of the Act. NONE (Title of Class) UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO S ...