SHANGHAI, China, Jan. 20, 2026 (GLOBE NEWSWIRE) -- Smart Share Global Limited (Nasdaq: EM) (“Energy Monster” or the “Company”), a consumer tech company providing mobile device charging service, today announced that it received a letter from the Nasdaq Stock Market dated January 14, 2026 (the “Letter”), notifying the Company that it is not in compliance with the requirements for continued listing set forth in Nasdaq Listing Rule 5250(c)(1) because it did not timely file a Form 6-K containing an interim balan ...

Core Insights - First Canadian Graphite Inc. has initiated airborne electromagnetic and magnetic surveys over its Berkwood Graphite Project to assess graphite occurrences [1][2] - The company has staked an additional 125 claims, increasing its total land holdings by 72%, making it the largest landholder in the area [3] - The Berkwood Graphite Project has a resource estimate of 3.2 million tonnes of indicated and inferred graphite with an average grade of 17% [6] Survey and Exploration Plans - The airborne EM and magnetic surveys are designed to identify conductive graphite orebodies and trace geological structures, with drilling planned for Spring/Summer 2026 [2][5] - The surveys will cover five high-priority targets to evaluate the potential for graphite occurrences [1][2] - The company plans to evaluate results from the surveys to target its upcoming drill program [5] Project Details - The Berkwood Graphite Project consists of several claim blocks, with only two blocks drilled so far, representing about 10% of the conductive anomalies [5] - The current mineral resource includes 1,755,300 tonnes of indicated resources at 17.00% Cgr and 1,526,400 tonnes of inferred resources at 16.39% Cgr [11] - The project is located in northern Quebec, easily accessible via major and secondary roads [9] Community Engagement - First Canadian Graphite acknowledges that the Berkwood Project is situated within the traditional territory of the Pessamit Innu First Nation and is committed to fostering respectful relationships with local Indigenous communities [8]

Core Viewpoint - Smart Share Global Limited, also known as Energy Monster, has received shareholder approval for a merger agreement that will result in the company becoming a privately held entity, with its American depositary shares (ADSs) no longer traded on any exchange [1][3]. Group 1: Merger Details - The extraordinary general meeting (EGM) held on December 31, 2025, saw approximately 79.0% of the total outstanding ordinary shares represented, with 92.8% of the votes cast in favor of the merger agreement [2]. - The merger agreement, dated August 1, 2025, involves the merger of Mobile Charging Merger Limited into Smart Share Global Limited, making the latter a wholly-owned subsidiary of Mobile Charging Investment Limited [1][2]. Group 2: Company Overview - Smart Share Global Limited is a leading consumer tech company in China, specializing in mobile device charging services through a network of shared power banks located in various points of interest (POIs) [4]. - As of December 31, 2024, the company operated 9.6 million power banks across 1,279,900 POIs in over 2,200 counties and county-level districts in China [4].

Core Viewpoint - Smart Share Global Limited, also known as Energy Monster, has received shareholder approval for a merger agreement that will result in the company becoming a privately held entity, with its American depositary shares (ADSs) no longer traded on any exchange [1][3]. Group 1: Merger Details - The extraordinary general meeting (EGM) held on December 31, 2025, saw approximately 79.0% of the total outstanding ordinary shares represented, with 92.8% of the votes cast in favor of the merger agreement [2]. - The merger agreement, dated August 1, 2025, involves the merger of Mobile Charging Merger Limited into Smart Share Global Limited, making the latter a wholly-owned subsidiary of Mobile Charging Investment Limited [1][2]. Group 2: Company Overview - Smart Share Global Limited is a leading consumer tech company in China, specializing in mobile device charging services through a network of shared power banks located in various points of interest (POIs) [4]. - As of December 31, 2024, the company operated 9.6 million power banks across 1,279,900 POIs in over 2,200 counties and county-level districts in China [4].

Core Viewpoint - Smart Share Global Limited, also known as Energy Monster, is moving forward with a merger plan that will result in the company becoming privately held and its American depositary shares (ADSs) being delisted from NASDAQ [1][2][3]. Group 1: Merger Details - An extraordinary general meeting (EGM) is scheduled for December 31, 2025, to vote on the merger agreement and related transactions [1]. - The merger will involve Merger Sub merging with Smart Share, with Smart Share continuing as the surviving entity and becoming a wholly-owned subsidiary of Mobile Charging Investment Limited [2]. - Following the merger, Smart Share's ADSs will no longer be listed on the NASDAQ Capital Market, and the ADS program will be terminated [2]. Group 2: Shareholder Information - Shareholders of record as of December 12, 2025, will be entitled to attend and vote at the EGM [4]. - ADS holders as of November 25, 2025, can instruct the depositary to vote on their behalf at the EGM [4]. Group 3: Company Overview - Smart Share Global Limited is a leading provider of mobile device charging services in China, operating an extensive network of shared power banks across various points of interest [10]. - As of December 31, 2024, the company had 9.6 million power banks in 1,279,900 points of interest across over 2,200 counties and county-level districts in China [10].

Core Viewpoint - The Chengdu Consumer Rights Protection Committee and other local authorities have established a self-regulatory convention for the shared power bank industry to address issues such as unclear pricing, difficulties in returning devices, and outdated equipment [1][2]. Group 1: Self-Regulatory Convention Details - The self-regulatory convention aims to eliminate "ambiguous charging" by requiring companies to clearly display pricing, billing methods, cap prices, and deposit policies [2]. - It mandates a minimum of 5 minutes of free usage time and compresses billing time units to within 15 minutes, starting charges only after the free period [2]. - The convention ensures that power banks provided have at least 50% battery life and requires prior notification if this standard cannot be met [2]. - It prohibits "unfair clauses" that may reduce company liability or increase consumer obligations [2]. - The convention includes provisions for ensuring sufficient cabinet space for returns and waiving fees in cases of equipment failure or force majeure [2]. - It emphasizes the importance of product quality, requiring sampling tests before products are released to the market [2]. Group 2: Market Coverage and Impact - The companies signing the convention cover over 95% of operational points in Chengdu, and they will update software functionalities and adjust pricing accordingly [3]. - The Chengdu Consumer Rights Protection Committee plans to conduct consumer evaluations and monitor the implementation of the self-regulatory convention [3]. - The shared power bank industry in China is transitioning from rapid growth to a phase of stock competition and refined operations, facing challenges in compliance costs and user experience optimization [3]. Group 3: Market Size and Trends - The shared power bank market in China is projected to reach approximately 15 billion yuan in 2024, with a year-on-year growth of 28% expected to exceed 38 billion yuan in 2025 [4]. - The user base is anticipated to surpass 500 million, with daily usage frequency exceeding 120 million times [4]. - The market is expanding from traditional sectors like dining and transportation to vertical fields such as tourism and rural markets, with a 42% increase in coverage in third and fourth-tier cities [4]. - The competitive landscape is characterized by four leading companies dominating the market, while smaller firms adopt differentiated strategies for survival [4]. - Major players like Monster Charging and Street Power are forming strategic partnerships to enhance user experience and operational efficiency [4].

Core Points - Chengdu Consumer Rights Protection Committee, along with local regulatory bodies, has launched a self-regulatory charter for the shared power bank industry, aiming to enhance consumer protection and transparency in pricing [1] Group 1: Self-Regulatory Charter - The charter prohibits "ambiguous charging" practices, requiring companies to clearly display prices, billing methods, cap prices, and deposit policies on rental pages or devices [1] - It aims to avoid "excessive charging" by mandating a minimum of 5 minutes of free usage time and compressing billing time units to within 15 minutes, with the first billing unit starting only after the free period [1] - The charter has been signed by eight major companies in the industry, including Meituan, Monster, Wukong, and others [1]

Core Thesis - Smart Share Global Limited, also known as Energy Monster (Nasdaq: EM), presents a compelling investment opportunity due to a competitive bidding situation for its shares, with potential returns of approximately 20% over the next 3 to 6 months [3][6]. Company Overview - Smart Share Global Limited debuted on Nasdaq at $8.50 per ADS in April 2021, with an initial valuation of $2.2 billion, but its stock has since fallen below $1.00, prompting a management-led buyout [2]. - The company operates one of China's largest mobile device charging networks, featuring 9.6 million power banks across 1.28 million locations [4]. Financial Performance - The company has transitioned from an asset-heavy to an asset-light model, which has reduced capital expenditure requirements. It is capable of generating ¥200 million in EBITDA annually, although statutory profitability is impacted by legacy depreciation [4]. Governance and Bidding Dynamics - CEO Mars Cai proposed a buyout offer of $1.25 per ADS, perceived as a lowball bid, which was countered by Hillhouse Capital with a fully funded offer of $1.77 per ADS, representing a 42% premium [3]. - The governance dynamics involve Jiawei Gan, whose roles create a conflict of interest, intensifying scrutiny over the evaluation of competing bids [5]. Market Position and Future Outlook - The structured competition and the superior economics of Hillhouse's proposal position Energy Monster as a uniquely compelling investment at current market levels, with a high probability of a material rerating if governance and legal pressures lead to a fair transaction [6].

Core Viewpoint - The company's board rejected Hillhouse Capital's privatization offer of $1.77 per ADS in favor of a lower offer of $1.25 per ADS from a consortium led by Xincheng Capital and management, despite the company's cash value of approximately $1.63 per ADS, leading to market outrage [1][3]. Financial Performance - In 2021, the company achieved a revenue peak of 3.6 billion yuan but reported a loss of 125 million yuan. By 2024, revenue plummeted to 1.89 billion yuan, a 36% decrease from 2023's 2.96 billion yuan, with a net loss of 13.5 million yuan compared to a profit of 88.7 million yuan in 2023 [5][9]. - The shift from a direct sales model to a consignment model resulted in reduced direct sales revenue, while high incentive costs to partners further strained finances [8][9]. Industry Challenges - The shared charging treasure industry is facing significant challenges, including declining revenues and a series of supply chain crises triggered by recent incidents of battery explosions, leading to increased regulatory scrutiny [3][10]. - The industry has low entry barriers and a fragmented market, with the top five brands holding only 18% of the global market share, indicating a lack of competitive advantage [15][17]. Market Dynamics - The company holds a 36% market share, making it a leader in the shared charging treasure sector, yet this dominance has not translated into substantial financial returns [13][17]. - The industry's low-cost competition has led to a race to the bottom, where maintaining low prices has compromised safety and quality, resulting in a loss of consumer trust [12][20]. Investment Landscape - The once-promising shared charging treasure sector has seen significant capital losses and exits, with investors underestimating the rapid advancements in battery technology by major 3C manufacturers, which has diminished the necessity for shared charging solutions [24][25]. - The market has shifted from a focus on profitability to a model where companies like Alibaba and Meituan view shared charging as a supplementary service rather than a primary revenue source [27][28].

Core Insights - The shared power bank industry is facing increased regulatory scrutiny, with many brands still using unverified or improperly labeled devices despite the new certification requirements [1][2][3] - The cost of certification has risen by approximately 30 yuan per unit, leading to a lack of motivation for companies to update their devices amid fierce competition [3][4] - The shift from direct sales to a "direct-agent co-operation" model has diluted brand control and increased operational costs for agents, impacting product development and compliance efforts [4][5] Regulatory Compliance - The mandatory CCC certification for mobile power banks will take effect from August 1, 2024, prohibiting the sale or use of non-certified products [2][3] - Many existing devices remain in circulation due to past lax regulations and the slow pace of device updates [3][4] Market Dynamics - The competition among brands has intensified, with some agents reporting profit-sharing ratios rising to 70% or even 90% in certain venues [4][6] - The operational costs for agents have increased significantly, leading to a cycle of rising fees and declining service quality [5][6] Pricing Trends - Rental prices for shared power banks have surged, with some locations charging over 10 yuan per hour, moving away from the previous 1 yuan per hour model [6][10] - Despite the price increases, user complaints about high costs and low charging efficiency have risen, indicating a disconnect between price and service quality [8][10] Industry Growth - The shared power bank market is projected to exceed 12.6 billion yuan in 2024, with expectations to reach 40 billion yuan by 2029, alongside a significant increase in user complaints [10]