Smart Share Global Limited (NASDAQ:EM) Q2 2023 Earnings Conference Call August 21, 2023 8:00 AM ET Company Participants Hansen Shi - Director of Investor Relations Mars Cai - Chairman and Chief Executive Officer Maria Xin - Chief Financial Officer Conference Call Participants Vicky Wei - Citi Charlie Chen - China Renaissance Weiting Tang - Goldman Sachs Operator Hello, and thank you for standing by for Energy Monster's 2023 Second Quarter Earnings Conference Call. At this time, all participants are in liste ...

Exhibit 99.1 Smart Share Global Limited Announces Second Quarter 2023 Results Net income reached RMB24.5 million for the second quarter of 2023 POIs operated under network partner model reached 62.0% as of the end of the second quarter of 2023 Number of POIs reached 1.1 million as of the end of the second quarter of 2023 SHANGHAI, China, August 21, 2023 (GLOBE NEWSWIRE) -- Smart Share Global Limited (Nasdaq: EM) ("Energy Monster" or the "Company"), a consumer tech company providing mobile device charging se ...

Financial Data and Key Metrics Changes - Revenues for Q1 2023 were 822.8 million RMB, representing an 11.6% year-over-year increase [23] - Non-GAAP net profit for the quarter was 17.1 million RMB, marking the first profitability since Q3 2021, compared to a loss of nearly 90 million RMB in the same period last year [8][27] - Operating cash flow was positive at 238.6 million RMB for Q1 2023, contributing to a strong cash position of 3.1 billion RMB as of March 31, 2023 [9][27] Business Line Data and Key Metrics Changes - Mobile device charging service GMV increased by 16% year-over-year and 35% quarter-over-quarter, driven by recovery in offline food traffic [7] - Revenues from mobile device charging business were up 10.7% to 796.5 million RMB, accounting for 96.6% of total revenue [23] - Revenues from power bank sales increased by 43.7% year-over-year to 18.6 million RMB [23] Market Data and Key Metrics Changes - First-tier cities saw a year-over-year GMV growth of 24%, while other city tiers experienced a 15% increase [7] - GMV for retail locations, restaurants, and transportation hubs increased by 25%, 19%, and 44% year-over-year, respectively [7] Company Strategy and Development Direction - The company aims to expand its network coverage and improve operational efficiency, leveraging both network partner and direct models [10][22] - The number of POIs exceeded 1 million for the first time, reflecting a 51% increase since the end of 2020 [11] - The company is focused on optimizing its resource allocation and streamlining operations to enhance efficiency [10][16] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about continued recovery in offline food traffic and revenue normalization throughout 2023 [20] - The first quarter's recovery trend is expected to persist into the second quarter, with significant growth in GMV observed in April and May [20][29] - The competitive landscape is perceived to be less intense compared to pre-COVID levels, with a shift towards network partner models [37] Other Important Information - The company has made adjustments to its POIs under the direct model, removing approximately 100,000 underperforming locations to enhance operational health [33] - The company reported a decrease in entry fee type contracts by over 60% year-over-year, indicating a shift towards more revenue-sharing contracts [17] Q&A Session Summary Question: Outlook for the second quarter and the whole year - Management indicated that the recovery trends from Q1 will continue into Q2, with expectations of profitability for the full year 2023 [29] Question: Reason for lower growth in POI count - Management explained that the adjustment in POIs was necessary due to the normalization of offline food traffic, resulting in the removal of underperforming locations [32][33] Question: Insight on competitive landscape and network partner model - Management noted that competition is less intense now, with a shift towards network partner models, which are profit-driven, allowing for operational support and growth alongside partners [37][39]

[Introduction to Form 6-K Submission](index=1&type=section&id=Introduction%20to%20Form%206-K%20Submission) This section details the purpose of the Form 6-K submission and the company's identification as a Commission-Identified Issuer under the HFCAA [Purpose of Submission](index=2&type=section&id=Purpose%20of%20Submission) This Form 6-K serves as a supplemental submission by Smart Share Global Limited, fulfilling the requirements of Item 16I(a) of Form 20-F concerning the Holding Foreign Companies Accountable Act (HFCAA) - The Company is submitting information required under Item 16I(a) of Form 20-F in relation to the Holding Foreign Companies Accountable Act (HFCAA)[2](index=2&type=chunk) [HFCAA Background and Identification](index=2&type=section&id=HFCAA%20Background%20and%20Identification) Smart Share Global Limited was conclusively identified as a Commission-Identified Issuer under the HFCAA on May 26, 2022, due to its 2021 annual report being audited by a firm in mainland China - Smart Share Global Limited was identified as a Commission-Identified Issuer by the SEC on May 26, 2022, under the HFCAA[3](index=3&type=chunk) - The identification was based on the audit report for the year ended December 31, 2021, issued by PricewaterhouseCoopers Zhong Tian LLP, a firm headquartered in mainland China[3](index=3&type=chunk) - The PCAOB had previously been unable to inspect or investigate completely registered public accounting firms headquartered in mainland China until December 2022[3](index=3&type=chunk) [Assessment of Governmental Control](index=2&type=section&id=Assessment%20of%20Governmental%20Control) This section presents the company's assessment of governmental control, detailing major shareholders and concluding on the absence of mainland China governmental influence [Company's Stance on Control](index=2&type=section&id=Company%27s%20Stance%20on%20Control) Based on its internal examination and public filings, Smart Share Global Limited asserts its belief that it is not owned or controlled by a governmental entity in mainland China - The Company believes it is not owned or controlled by a governmental entity in mainland China[4](index=4&type=chunk) [Major Shareholder Breakdown](index=2&type=section&id=Major%20Shareholder%20Breakdown) This section details the major shareholders holding over 5% of outstanding shares as of March 31, 2023, none identified as governmental entities Major Shareholders (>5% Outstanding Shares) as of March 31, 2023 | Shareholder | % Outstanding Shares | % Total Voting Power | Controlling Entity/Individual | | :-------------------------------- | :------------------- | :------------------- | :-------------------------------- | | Smart Share Holdings Limited | 8.4% | 33.5% | Mr. Mars Guangyuan Cai | | Super June Limited | 5.9% | 23.4% | Mr. Peifeng Xu | | Taobao China Holding Limited | 14.7% | 6.4% | Alibaba Group Holding Limited | | Hillhouse entities | 12.1% | 5.3% | HIM & HHLR Advisors, Ltd. (common control) | | Xiaomi entities | 9.0% | 4.0% | Xiaomi Corporation | | Shunwei entities | 8.1% | 3.5% | Mr. Tuck Lye Koh (via Silver Unicorn Ventures Limited) | | China Ventures Fund I Pte. Ltd. | 6.9% | 3.0% | Softbank Group Corp. | | Beautyworks Investment Limited | 6.6% | 2.9% | Advantech Capital L.P. | | Sky9 Capital entities | 5.2% | 2.3% | Mr. Ronald Cao (via Sky9 Capital Fund III GP Ltd. & Sky9 Capital MVP Fund GP Ltd.) | [Smart Share Holdings Limited](index=2&type=section&id=Smart%20Share%20Holdings%20Limited) This section outlines the ownership and voting power of Smart Share Holdings Limited, controlled by Mr. Mars Guangyuan Cai - Smart Share Holdings Limited holds **8.4%** of outstanding shares and **33.5%** of voting power, wholly owned by Mr. Mars Guangyuan Cai[4](index=4&type=chunk) [Super June Limited](index=2&type=section&id=Super%20June%20Limited) This section details the ownership and voting power of Super June Limited, controlled by Mr. Peifeng Xu - Super June Limited holds **5.9%** of outstanding shares and **23.4%** of voting power, wholly owned by Mr. Peifeng Xu[5](index=5&type=chunk) [Taobao China Holding Limited](index=2&type=section&id=Taobao%20China%20Holding%20Limited) This section presents the ownership and voting power of Taobao China Holding Limited, a subsidiary of Alibaba Group Holding Limited - Taobao China Holding Limited holds **14.7%** of outstanding shares and **6.4%** of voting power, wholly owned by Alibaba Group Holding Limited (NYSE: BABA, HKEx: 9988)[5](index=5&type=chunk) [Hillhouse Entities](index=2&type=section&id=Hillhouse%20Entities) This section outlines the collective ownership and voting power of Hillhouse entities through managed funds - Hillhouse Investment Management, Ltd. (HIM) and HHLR Advisors, Ltd. (HHLR) collectively hold **12.1%** of outstanding shares and **5.3%** of voting power through managed funds, operating under common control[6](index=6&type=chunk) [Xiaomi Entities](index=3&type=section&id=Xiaomi%20Entities) This section details the collective ownership and voting power of Xiaomi entities, controlled by Xiaomi Corporation - People Better Limited, Green Better Limited, and ZMI (HONGKONG) INTERNATIONAL COMPANY LIMITED collectively hold **9.0%** of outstanding shares and **4.0%** of voting power, controlled by Xiaomi Corporation (HKEx: 1810)[7](index=7&type=chunk) [Shunwei Entities](index=3&type=section&id=Shunwei%20Entities) This section outlines the collective ownership and voting power of Shunwei entities, controlled by Mr. Tuck Lye Koh - Shunwei Angels III Limited and Astrend Opportunity III Alpha Limited collectively hold **8.1%** of outstanding shares and **3.5%** of voting power, controlled by Mr. Tuck Lye Koh[8](index=8&type=chunk) [China Ventures Fund I Pte. Ltd.](index=3&type=section&id=China%20Ventures%20Fund%20I%20Pte.%20Ltd.) This section details the ownership and voting power of China Ventures Fund I Pte. Ltd., a Softbank Group Corp. entity - China Ventures Fund I Pte. Ltd. holds **6.9%** of outstanding shares and **3.0%** of voting power, wholly owned by Softbank Group Corp., with Mr. Masayoshi Son as its largest shareholder[9](index=9&type=chunk) [Beautyworks Investment Limited](index=3&type=section&id=Beautyworks%20Investment%20Limited) This section outlines the ownership and voting power of Beautyworks Investment Limited, ultimately controlled by Advantech Capital L.P. - Beautyworks Investment Limited holds **6.6%** of outstanding shares and **2.9%** of voting power, wholly owned by Advantech Master Investment Limited, which is wholly owned by Advantech Capital L.P.[9](index=9&type=chunk) [Sky9 Capital Entities](index=3&type=section&id=Sky9%20Capital%20Entities) This section details the collective ownership and voting power of Sky9 Capital entities, controlled by Mr. Ronald Cao - Sky9 Capital Fund III, L.P. and Sky9 Capital MVP Fund, L.P. collectively hold **5.2%** of outstanding shares and **2.3%** of voting power, controlled by Mr. Ronald Cao through their respective general partners[10](index=10&type=chunk) [Conclusion on Governmental Influence](index=3&type=section&id=Conclusion%20on%20Governmental%20Influence) The Company explicitly states that it is unaware of any governmental entity in mainland China possessing direct or indirect power to direct or influence its management and policies, whether through ownership, contract, or other means - The Company is not aware of any governmental entity in mainland China with direct or indirect power to direct or cause the direction of its management and policies[11](index=11&type=chunk) [Signatures](index=4&type=section&id=Signatures) This section provides details of the authorized signatory for the Form 6-K submission - The report was signed by Maria Yi Xin, Chief Financial Officer, on behalf of Smart Share Global Limited on April 28, 2023[12](index=12&type=chunk)

Financial Performance - Total revenues for 2022 were RMB 2,838,190 thousand, a decrease from RMB 3,585,391 thousand in 2021, representing a decline of approximately 20.8%[30] - The mobile device charging business generated revenues of RMB 2,754,143 thousand in 2022, down from RMB 3,455,797 thousand in 2021, indicating a decrease of about 20.3%[30] - Net loss attributable to ordinary shareholders for 2022 was RMB 711,240 thousand, compared to a net loss of RMB 124,615 thousand in 2021, reflecting a significant increase in losses[30] - The company reported a comprehensive loss of RMB 598,868 thousand in 2022, compared to a comprehensive loss of RMB 274,882 thousand in 2021, indicating a worsening financial position[30] - The company incurred an income tax expense of RMB 114,476 thousand in 2022, compared to no income tax expense in 2021, reflecting changes in tax obligations[30] - The company reported a net cash generated from operating activities of RMB 708,142 thousand for the year ended December 31, 2022, compared to RMB 226,778 thousand in 2021, indicating a significant increase[43]. - The total net cash used in investing activities was RMB 1,023,997 thousand for the year ended December 31, 2022, compared to RMB 1,714,287 thousand in 2021, showing a reduction in cash outflow[43]. - The company incurred third-party costs and expenses of RMB 3,472,311 in 2022, up from RMB 2,670,265 in 2021, which is an increase of 30.0%[38] Variable Interest Entities (VIE) - For the years ended December 31, 2020, 2021, and 2022, revenues contributed by the variable interest entities in China were 0.34%, 0.46%, and 0.0% of total revenues, respectively[14] - The shareholders of the VIE include the chairman (62.0%), COO (30.0%), and CMO (8.0%) of the company, indicating strong management involvement[17] - The company has completed the termination of a variable interest entity with no significant operations, leaving Shanghai Zhixiang as the only VIE[14] - The company treats the VIE as a consolidated entity under U.S. GAAP, consolidating its financial results accordingly[14] - The contractual arrangements with the VIE allow the company to consolidate financial results, but uncertainties exist regarding their enforceability under future PRC regulations[113] - The enforceability of the VIE contractual agreements depends on the shareholders of the VIE, who may have conflicts of interest with the company[117] - Any failure by the VIE or its shareholders to perform their obligations under the contractual arrangements could have a material adverse effect on the company's business[119] Regulatory Environment - The company is categorized as a "Commission-Identified Issuer" under the HFCAA, which may affect trading of its shares if audit reports are not from PCAOB-inspected firms for two consecutive years[19] - The CSRC's Trial Administrative Measures for overseas securities offerings came into effect on March 31, 2023, requiring filing for future offshore offerings[22] - There are uncertainties regarding future regulatory requirements in China that may impact the company's operations and financing activities[22] - The PRC tax authorities may challenge the contractual arrangements, potentially leading to increased tax liabilities for the VIE[119] - The evolving regulatory environment poses risks that could materially affect business, financial condition, and operational prospects[128] - The company may face sanctions from the CSRC or other PRC regulatory agencies if it fails to obtain necessary approvals for overseas listings, which could adversely affect its business and financial condition[130] Market and Competition - The mobile device charging service industry is highly competitive, with significant pricing pressures that could adversely affect financial margins and market share[56] - The smartphone market in China is maturing, which may lead to decreased consumer demand for the company's products and services[74] - The company faces significant competition in the mobile device charging service market, relying on its network expansion, product quality, and brand strength to compete effectively[219] Operational Challenges - The company must adapt to evolving consumer preferences and competition from free charging alternatives, which could impact demand for its services[66] - The company is at risk of supply chain disruptions, which could lead to production delays or increased procurement costs[68] - The company does not have internal manufacturing capabilities and relies on assembly partners, which poses risks related to production capacity and quality control[81] - The company relies on various information technology systems for operations, and any malfunction could disrupt business processes and result in data loss or corruption[70] Financial Structure and Capital - The company has short-term investments of RMB 2,091,198 thousand and accounts receivable of RMB 16,482 thousand[41] - The company may need additional cash resources in the future for investments or acquisitions, and there is no assurance that it will be able to raise additional capital on favorable terms[106] - The company relies on dividends from its PRC subsidiaries for cash and financing needs, and any limitations on these payments could materially restrict its ability to grow and invest[130] Shareholder and Governance Issues - The company does not expect to pay dividends in the foreseeable future, relying instead on price appreciation of the ADSs for returns on investment[149] - The concentration of ownership among Class B shareholders may limit the ability of Class A shareholders to influence corporate matters and discourage change of control transactions[146] - The dual-class share structure may prevent inclusion in major indices, potentially leading to a less active trading market for the ADSs[147] Technology and Innovation - The company utilizes advanced proprietary technologies and big-data analytics to optimize hardware management and enhance user insights[175] - The company has implemented a quality management system to ensure continual improvement of products and processes, with thorough examinations of product samples at the verification and testing stage[210] - The company has developed a comprehensive data security policy, ensuring compliance with laws and protecting user data through encryption and advanced security measures[216] Economic Factors - Economic downturns in China could materially affect consumer discretionary spending, impacting the company's financial condition and results of operations[86] - Reduced consumer confidence and spending cutbacks may lead to decreased demand for products and services, potentially impacting financial condition and results of operations[87] - The Chinese economy has experienced uneven growth since 2010, with a gradual slowdown impacting demand for products and services[122]

Smart Share Global Limited (NASDAQ:EM) Q4 2022 Earnings Conference Call April 21, 2023 8:00 AM ET Company Participants Hansen Shi - Director of IR Mars Cai - Chairman and CEO Maria Xin - CFO Conference Call Participants Vicky Wei - Citi Charlie Chen - China Renaissance Operator Hello and thank you for standing-by for Energy Monsters 2022 Fourth Quarter and Fiscal Year 2022 Earnings Conference Call. At this time, all participants are in listen-only mode. Today's conference is being recorded. If you have any ...

Exhibit 99.1 Smart Share Global Limited Announces Fourth Quarter and Fiscal Year 2022 Results Number of POIs reached 997 thousand as of the end of the fourth quarter of 2022 POIs operated through network partner model reached 52.5% as of the end of the fourth quarter of 2022 SHANGHAI, China, April 21, 2023 (GLOBE NEWSWIRE) -- Smart Share Global Limited (Nasdaq: EM) ("Energy Monster" or the "Company"), a consumer tech company providing mobile device charging service, today announced its unaudited financial r ...

Smart Share Global Limited (NASDAQ:EM) Q3 2022 Earnings Conference Call December 20, 2022 8:00 AM ET Company Participants Hansen Shi - Director of Investor Relations Mars Cai - Chairman and Chief Executive Officer Maria Xin - Chief Financial Officer Conference Call Participants Operator Hello, and thank you for standing by for Energy Monster’s 2022 Third Quarter Earnings Conference Call. At this time, all participants are in a listen-only mode. Today’s conference is being recorded. [Operator Instructions] I ...

Smart Share Global Limited (NASDAQ:EM) Q2 2022 Earnings Conference Call September 8, 2022 8:00 AM ET Company Participants Hansen Shi - Director of Investor Relations Mars Cai - Chairman and Chief Executive Officer Maria Xin - Chief Financial Officer Conference Call Participants Charlie Chen - China Renaissance Vicky Wei - Citigroup Operator Thank you for standing by. Welcome to the Energy Monster’s Second Quarter 2022 Earnings Conference Call. All participants are in a listen-only mode. There will be a pres ...

Financial Data and Key Metrics Changes - For Q1 2022, revenues were 737.1 million RMB, representing a 13% year-over-year decrease [23] - Revenues from the mobile device charging business decreased by 12.1% to 717.7 million RMB, accounting for 97.4% of total revenues [23] - Gross profit fell by 15.6% year-over-year to 609.5 million RMB, primarily due to decreased revenues [24] - Net loss was 96.4 million RMB, with a net margin of negative 13.1% [25] Business Line Data and Key Metrics Changes - Revenues from power bank sales decreased by 48.3% year-over-year to 12.9 million RMB, accounting for 1.8% of total revenues [23] - Other revenues increased by 25.5% year-over-year to 6.4 million RMB, attributed to user growth and new business initiatives [23] Market Data and Key Metrics Changes - Same-store revenue decreased by approximately 35% year-over-year due to reduced food traffic from COVID-19 outbreaks [8][34] - In Shanghai, revenue decreased by an average of 93% from mid-March to May 2022 due to lockdowns [20][34] Company Strategy and Development Direction - The company aims to expand its Point of Interest (POI) network, which reached 851,000, increasing by over 20% year-over-year [8] - The strategy includes leveraging both direct operation and network partner models to enhance market presence and efficiency [10][12] - Continuous innovation in service offerings and operational efficiency is a priority to maintain competitive advantage [19][20] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenges posed by COVID-19, particularly in Q1 and Q2 2022, but expressed confidence in long-term market recovery [20][21] - The company noted that regions recovering from COVID impacts typically return to normalized levels within one to two months [9][21] Other Important Information - As of March 31, 2022, the company had cash and cash equivalents of 2.8 billion RMB [26] - The company expects to generate revenues between 660 million to 690 million RMB for Q2 2022, reflecting current industry conditions [26] Q&A Session Summary Question: Can management elaborate on the synergy between the direct and network partner models? - Management explained that both models are crucial for service network expansion, with direct operations focusing on higher-tier cities and network partners on lower-tier ones. They are exploring the use of both models in all regions to enhance growth [28][30] Question: Can management provide insights on monthly performance in Q2 and changes in merchant categories? - Management indicated that the second quarter has been more challenging than the first, with significant revenue drops in Shanghai due to COVID. However, recovery trends have started to emerge in June [33][34] Question: What insights can management provide on the competitive environment and incentive fee rates? - Management noted a decline in competition as peers scale down operations, which has benefited the company. The incentive fee rates are decreasing as a percentage of revenue, positively impacting financials [38][40]