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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 6-K

 

 

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 UNDER

THE SECURITIES EXCHANGE ACT OF 1934

For the month of November 2025

Commission File Number: 001-36427

 

CHEETAH MOBILE INC.

 

Building No. 11

Wandong Science and Technology Cultural Innovation Park

No.7 Sanjianfangnanli, Chaoyang District

Beijing 100024

People’s Republic of China

(Address of principal executive office)

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F  Form 40-F  Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

 


 

 

SIGNATURE

 

 

CHEETAH MOBILE INC.

 

By:

/s/ Thomas Jintao Ren

Name:

Thomas Jintao Ren

Title:

Chief Financial Officer

 

Date: November 26, 2025

 


 

 


EX-99.1 2 cmcm-ex99_1.htm EX-99.1 EX-99.1

Exhibit 99.1

 

Cheetah Mobile Announces Third Quarter 2025

Unaudited Consolidated Financial Results

BEIJING, November 26, 2025 - Cheetah Mobile Inc. (NYSE: CMCM) ("Cheetah Mobile" or the "Company"), a China-based IT company, today announced its unaudited consolidated financial results for the quarter ended September 30, 2025.

Management Commentary

Mr. Sheng Fu, Cheetah Mobile's Chairman and Chief Executive Officer, remarked, "We are pleased to see continued momentum in our turnaround journey. In the third quarter of 2025, we delivered our first quarterly operating profit in six years—reaching this milestone ahead of expectations. Total revenue grew 49.6% year over year, with the AI and others segment increasing 150.8% and contributing half of total revenue, reflecting the emergence of our next growth engine. Within the AI and others segment, our AI robot business continued to perform well, supported by solid demand for our voice-enabled wheel robots and robotic arms. In parallel, we are developing AI-native tools across PC and mobile, while enhancing existing products with new AI features. Looking ahead, we remain focused on driving growth by building new growth engines through continued investment in AI robots and AI tools"

 

Mr. Thomas Ren, Chief Financial Officer of Cheetah Mobile, commented: "Our consistent improvement on bottom-line reflects our disciplined execution and operational improvements. Operating profit was about RMB3.9 million, increasing from an operating loss of RMB72.0 million in the year ago quarter and an operating loss of RMB11.1 million in the previous quarter. Non-GAAP operating profit reached RMB15.1 million, compared with a non-GAAP operating loss of RMB60.5 million in the same period last year and RMB2.1 million in Q2. Our Internet business segment generated RMB68.2 million in adjusted operating profit in the first nine months of 2025, exceeding full-year 2024 levels and growing 86.2% year over year. Meanwhile, adjusted operating loss in our AI and others segment narrowed meaningfully in this quarter. In addition, our balance sheet remains healthy."

 

 

Third Quarter 2025 Financial Highlight

Total revenues grew by 49.6% year-over-year to RMB287.4 million (US$40.4 million) in the third quarter of 2025, driven by the 150.8% year-over-year increase in AI and others revenues, which already accounted for 50.4% of Cheetah Mobile’s third quarter revenues, up from 30.1% in the same period last year.

Gross profit increased by 64.4% year-over-year to RMB214.4 million (US$30.1 million) in the third quarter of 2025. Non-GAAP gross profit rose by 64.3% year-over-year to RMB214.4 million (US$30.1 million) in the third quarter of 2025. Gross margin was 74.6% in the third quarter of 2025, up from 67.9% in the year-ago quarter. Non-GAAP gross margin was 74.6% in the third quarter of 2025, up from 67.9% in the year-ago quarter.

Operating profit was RMB3.9 million (US$0.6 million) in the third quarter of 2025, improving from operating loss of RMB72.0 million in the same period last year.

1


Non-GAAP operating profit was RMB15.1 million (US$2.1 million) in the third quarter of 2025, improving from non-GAAP operating loss of RMB60.5 million in the same period last year.

Net loss attributable to Cheetah Mobile Shareholders was RMB11.0 million (US$1.5 million) in the third quarter of 2025, improving from net loss attributable to Cheetah Mobile Shareholders of RMB 46.9 million in the year ago quarter. Non-GAAP net income attributable to Cheetah Mobile Shareholders was RMB0.2 million (US$0.03 million) in the third quarter of 2025, improving from non-GAAP net loss attributable to Cheetah Mobile Shareholders of RMB35.4 million in the same period last year.

As of September 30, 2025, the Company had cash and cash equivalents of RMB1,597.3 million (US$224.4 million), ensuring strong liquidity.

As of September 30, 2025, the Company had long-term investments of RMB761.4 million (US$107.0 million).

 

 

Conference Call Information

The Company will hold a conference call on November 26, 2025, at 6:00 a.m. Eastern Time (or 7:00 p.m. Beijing Time) to discuss its financial results. Listeners may access the call by dialing the following numbers:

Main Line:

International: 1-412-317-6061

United States Toll Free: 1-888-317-6003

Mainland China Toll Free: +86-4001-206115

Hong Kong Toll Free: 800-963976

Conference ID: 4896015

English Translation:

International: 1-412-317-6061

United States Toll Free: 1-888-317-6003

Mainland China Toll Free: +86-4001-206115

Hong Kong Toll Free: 800-963976

Conference ID: 4165222

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 U.S. dollars at specified rates solely for the convenience of readers. Unless otherwise noted, all translations from Renminbi to U.S. dollars in this press release were made at a rate of RMB7.1190 to US$1.00, the exchange rate in effect as of September 30, 2025, as set forth in the H.10 statistical release of the Federal Reserve Board. Such translations should not be construed as representations that RMB amounts could be converted into U.S. dollars at that rate or any other rate, or to be the amounts that would have been reported under accounting principles generally accepted in the United States of America (“U.S.

2


GAAP”).

 

About Cheetah Mobile Inc.

 

Cheetah Mobile is a China-based IT company with a commitment to AI innovation. It has attracted hundreds of millions of users through an array of internet products and services on PCs and mobile devices. At the same time, it actively engages in the independent research and development of AI technologies, including LLM technologies. Cheetah Mobile provides advertising services to advertisers worldwide, value-added services including the sale of premium membership to its users, multi-cloud management platform to companies globally, as well as AI service robots and robotic arms to international clients. Cheetah Mobile is also committed to leveraging its cutting-edge AI technologies, including LLM technologies, to empower its products and make the world smarter. It has been listed on the New York Stock Exchange since May 2014.

Safe Harbor Statement

 

This press release contains forward-looking statements. These statements, including management quotes and business outlook, constitute forward-looking statements under the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Such statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in the forward-looking statements, including but are not limited to the following: Cheetah Mobile’s growth strategies; Cheetah Mobile’s ability to retain and increase its user base and expand its product and service offerings; Cheetah Mobile’s ability to monetize its platform; Cheetah Mobile’s future business development, financial condition and results of operations; competition with companies in a number of industries including internet companies that provide online marketing services and internet value-added services; expected changes in Cheetah Mobile’s revenues and certain cost or expense items; and general economic and business condition globally and in China. Further information regarding these and other risks is included in Cheetah Mobile’s filings with the U.S. Securities and Exchange Commission. Cheetah Mobile does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.

 

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, amortization of intangible assets and impairment of goodwill resulting from business acquisitions;
Non-GAAP research and development expenses exclude share-based compensation expenses, 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;

3


Non-GAAP general and administrative expenses exclude share-based compensation expenses;
Non-GAAP operating profit/loss excludes share-based compensation expenses, amortization of intangible assets and impairment of goodwill resulting from business acquisitions;
Non-GAAP net income/loss attributable to Cheetah Mobile shareholders excludes share-based compensation expenses, amortization of intangible assets and impairment of goodwill resulting from business acquisitions;
Non-GAAP diluted earnings/losses per ADS excludes share-based compensation expenses, amortization of intangible assets and impairment of goodwill resulting from business acquisitions.

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, amortization of intangible assets and impairment of goodwill 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 U.S. GAAP. For more information on these non-GAAP financial measures, please see the tables captioned “Cheetah Mobile Inc. Reconciliation of GAAP and non-GAAP Results”.

 

 

 

Investor Relations Contact

 

Helen Jing Zhu

Cheetah Mobile Inc.

Tel: +86 10 6292 7779

Email: ir@cmcm.com

4


 

CHEETAH MOBILE INC.

Condensed Consolidated Balance Sheets

(Unaudited, amounts in thousands of Renminbi ("RMB") and US dollars ("US$"))

 

 

As of

 

December 31, 2024

 

September 30, 2025

 

RMB

 

RMB

 

USD

ASSETS

 

 

 

 

 

Current assets:

 

 

 

 

 

Cash and cash equivalents

1,833,031

 

1,597,311

 

224,373

Short-term investments

335

 

863

 

121

Accounts receivable, net

473,619

 

443,459

 

62,292

Prepayments and other current assets, net

1,365,761

 

1,115,204

 

156,653

Due from related parties, net

106,934

 

126,801

 

17,812

Total current assets

3,779,680

 

3,283,638

 

461,251

 

 

 

 

 

 

Non-current assets:

 

 

 

 

 

Property and equipment, net

51,564

 

40,797

 

5,731

Operating lease right-of-use assets

26,323

 

19,067

 

2,678

Intangible assets, net

190,665

 

205,660

 

28,889

Goodwill

424,099

 

460,034

 

64,621

Long-term investments

817,330

 

761,408

 

106,954

Deferred tax assets

128,581

 

119,725

 

16,818

Other non-current assets

86,059

 

90,317

 

12,687

Total non-current assets

1,724,621

 

1,697,008

 

238,378

 

 

 

 

 

 

Total assets

5,504,301

 

4,980,646

 

699,629

 

 

 

 

 

 

LIABILITIES, MEZZANINE EQUITY AND SHAREHOLDERS' EQUITY

 

 

 

 

 

Current liabilities:

 

 

 

 

 

Accounts payable

219,566

 

207,356

 

29,127

Accrued expenses and other current liabilities

2,756,805

 

2,309,513

 

324,415

Due to related parties

69,606

 

18,011

 

2,530

Income tax payable

35,804

 

50,748

 

7,129

Total current liabilities

3,081,781

 

2,585,628

 

363,201

 

 

 

 

 

 

Non-current liabilities:

 

 

 

 

 

Deferred tax liabilities

43,046

 

44,635

 

6,270

Other non-current liabilities

172,348

 

165,010

 

23,179

Total non-current liabilities

215,394

 

209,645

 

29,449

 

 

 

 

 

 

Total liabilities

3,297,175

 

2,795,273

 

392,650

 

 

 

 

 

 

Mezzanine equity:

 

 

 

 

 

Redeemable noncontrolling interests

189,725

 

196,191

 

27,559

 

 

 

 

 

 

Shareholders’ equity:

 

 

 

 

 

Ordinary shares

248

 

254

 

36

Additional paid-in capital

2,722,504

 

2,724,880

 

382,762

Accumulated deficit

(1,232,577)

 

(1,299,551)

 

(182,547)

Accumulated other comprehensive income

410,423

 

391,343

 

54,972

Total Cheetah Mobile Inc. shareholders’ equity

1,900,598

 

1,816,926

 

255,223

Noncontrolling interests

116,803

 

172,256

 

24,197

 

 

 

 

 

 

Total shareholders’ equity

2,017,401

 

1,989,182

 

279,420

 

 

 

 

 

 

Total liabilities, mezzanine equity and shareholders’ equity

5,504,301

 

4,980,646

 

699,629

 

5


 

CHEETAH MOBILE INC.

Condensed Consolidated Statements of Comprehensive Loss

(Unaudited, amounts in thousands of Renminbi ("RMB") and US dollars ("US$"), except for number of shares and per share(or ADS) data)

 

 

 

For The Three Months Ended

 

For The Nine Months Ended

 

 

September 30, 2024

 

September 30, 2025

 

September 30, 2025

 

September 30, 2024

 

September 30, 2025

 

September 30, 2025

 

 

RMB

 

RMB

 

USD

 

RMB

 

RMB

 

USD

Revenues

 

192,083

 

287,369

 

40,367

 

569,788

 

841,593

 

118,217

     Internet business

 

134,287

 

142,407

 

20,004

 

357,036

 

459,385

 

64,529

     AI and others

 

57,796

 

144,962

 

20,363

 

212,752

 

382,208

 

53,688

Cost of revenues (a)

 

(61,714)

 

(73,005)

 

(10,255)

 

(197,365)

 

(212,936)

 

(29,911)

Gross profit

 

130,369

 

214,364

 

30,112

 

372,423

 

628,657

 

88,306

 

 

 

 

 

 

 

 

 

 

 

 

Operating income and expenses:

 

 

 

 

 

 

 

 

 

 

 

 

Research and development (a)

 

(66,269)

 

(67,962)

 

(9,547)

 

(177,885)

 

(196,289)

 

(27,573)

Selling and marketing (a)

 

(89,038)

 

(82,806)

 

(11,632)

 

(237,570)

 

(290,078)

 

(40,747)

General and administrative (a)

 

(47,349)

 

(60,170)

 

(8,452)

 

(188,104)

 

(179,421)

 

(25,203)

Other operating income, net

 

278

 

506

 

71

 

1,014

 

3,465

 

487

Total operating income and expenses

 

(202,378)

 

(210,432)

 

(29,560)

 

(602,545)

 

(662,323)

 

(93,036)

 

 

 

 

 

 

 

 

 

 

 

 

Operating (loss)/income

 

(72,009)

 

3,932

 

552

 

(230,122)

 

(33,666)

 

(4,730)

Other income/(expenses):

 

 

 

 

 

 

 

 

 

 

 

 

Interest income, net

 

9,471

 

9,560

 

1,343

 

34,560

 

25,145

 

3,532

Foreign exchange gains

 

21,351

 

8,628

 

1,212

 

10,510

 

16,627

 

2,336

Other income/(expense), net

 

1,738

 

(12,318)

 

(1,730)

 

(57,469)

 

(34,171)

 

(4,800)

 

 

 

 

 

 

 

 

 

 

 

 

(Loss)/income before income taxes

 

(39,449)

 

9,802

 

1,377

 

(242,521)

 

(26,065)

 

(3,662)

Income tax (expenses)/benefits

 

(2,387)

 

(13,506)

 

(1,897)

 

3,806

 

(22,191)

 

(3,117)

Net loss

 

(41,836)

 

(3,704)

 

(520)

 

(238,715)

 

(48,256)

 

(6,779)

Less: net income attributable to noncontrolling interests

 

5,061

 

7,270

 

1,021

 

12,058

 

18,718

 

2,629

Net loss attributable to Cheetah Mobile shareholders

 

(46,897)

 

(10,974)

 

(1,541)

 

(250,773)

 

(66,974)

 

(9,408)

 

 

 

 

 

 

 

 

 

 

 

 

Net loss per share

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

(0.0323)

 

(0.0085)

 

(0.0012)

 

(0.1711)

 

(0.0480)

 

(0.0067)

Diluted

 

(0.0323)

 

(0.0086)

 

(0.0012)

 

(0.1711)

 

(0.0483)

 

(0.0067)

 

 

 

 

 

 

 

 

 

 

 

 

Net loss per ADS

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

(1.6150)

 

(0.4236)

 

(0.0600)

 

(8.5542)

 

(2.4019)

 

(0.3350)

Diluted

 

(1.6150)

 

(0.4296)

 

(0.0600)

 

(8.5569)

 

(2.4130)

 

(0.3350)

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average number of shares outstanding

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

1,509,057,830

 

1,548,248,444

 

1,548,248,444

 

1,499,799,151

 

1,527,699,928

 

1,527,699,928

Diluted

 

1,509,057,830

 

1,548,248,444

 

1,548,248,444

 

1,499,799,151

 

1,527,699,928

 

1,527,699,928

Weighted average number of ADSs outstanding

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

30,181,157

 

30,964,969

 

30,964,969

 

29,995,983

 

30,553,999

 

30,553,999

Diluted

 

30,181,157

 

30,964,969

 

30,964,969

 

29,995,983

 

30,553,999

 

30,553,999

 

 

 

 

 

 

 

 

 

 

 

 

Other comprehensive income/(loss) , net of tax of nil

 

 

 

 

 

 

 

 

 

 

 

 

Foreign currency translation adjustments

 

(32,036)

 

(16,996)

 

(2,387)

 

(2,622)

 

(24,911)

 

(3,499)

Unrealized gains/(losses) on available-for-sale securities, net

 

2,799

 

3,814

 

536

 

(4,635)

 

6,662

 

936

Other comprehensive loss

 

(29,237)

 

(13,182)

 

(1,851)

 

(7,257)

 

(18,249)

 

(2,563)

Total comprehensive loss

 

(71,073)

 

(16,886)

 

(2,371)

 

(245,972)

 

(66,505)

 

(9,342)

Less: Total comprehensive income attributable to noncontrolling interests

 

7,346

 

5,774

 

811

 

11,890

 

19,549

 

2,746

Total comprehensive loss attributable to Cheetah Mobile shareholders

 

(78,419)

 

(22,660)

 

(3,182)

 

(257,862)

 

(86,054)

 

(12,088)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For The Three Months Ended

 

For The Nine Months Ended

 

 

September 30, 2024

 

September 30, 2025

 

September 30, 2025

 

September 30, 2024

 

September 30, 2025

 

September 30, 2025

(a) Share-based compensation expenses

 

RMB

 

RMB

 

USD

 

RMB

 

RMB

 

USD

Cost of revenues

 

92

 

4

 

1

 

541

 

14

 

2

Research and development

 

236

 

(172)

 

(24)

 

644

 

186

 

26

Selling and marketing

 

(277)

 

183

 

26

 

(167)

 

483

 

68

General and administrative

 

4,863

 

2,714

 

381

 

19,939

 

9,991

 

1,403

Total

 

4,914

 

2,729

 

384

 

20,957

 

10,674

 

1,499

 

6


 

CHEETAH MOBILE INC.

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 September 30, 2025

 

For The Nine Months Ended September 30, 2025

 

GAAP

Share-based

Amortization of

Non-GAAP

 

GAAP

Share-based

Amortization of

Non-GAAP

 

Result

Compensation

intangible assets*

Result

 

Result

Compensation

intangible assets*

Result

 

RMB

RMB

RMB

RMB

USD

 

RMB

RMB

RMB

RMB

USD

Revenues

287,369

-

-

287,369

40,367

 

841,593

-

-

841,593

118,217

Cost of revenues

(73,005)

4

-

(73,001)

(10,254)

 

(212,936)

14

-

(212,922)

(29,909)

Gross profit

214,364

4

-

214,368

30,113

 

628,657

14

-

628,671

88,308

 

 

 

 

 

 

 

 

 

 

 

Research and development

(67,962)

(172)

6,388

(61,746)

(8,674)

 

(196,289)

186

18,700

(177,403)

(24,920)

Selling and marketing

(82,806)

183

2,070

(80,553)

(11,315)

 

(290,078)

483

3,008

(286,587)

(40,257)

General and administrative

(60,170)

2,714

-

(57,456)

(8,071)

 

(179,421)

9,991

-

(169,430)

(23,800)

Other operating income, net

506

-

-

506

71

 

3,465

-

-

3,465

487

Total operating income and expenses

(210,432)

2,725

8,458

(199,249)

(27,989)

 

(662,323)

10,660

21,708

(629,955)

(88,490)

 

 

 

 

 

 

 

 

 

 

 

Operating income/(loss)

3,932

2,729

8,458

15,119

2,124

 

(33,666)

10,674

21,708

(1,284)

(182)

Net (loss)/income attributable to Cheetah Mobile shareholders

(10,974)

2,729

8,458

213

31

 

(66,974)

10,674

21,708

(34,592)

(4,860)

 

 

 

 

 

 

 

 

 

 

 

Diluted losses per ordinary share (RMB)

(0.0086)

0.0018

0.0054

(0.0014)

 

 

(0.0483)

0.0070

0.0141

(0.0272)

 

Diluted losses per ADS (RMB)

(0.4296)

0.0900

0.2696

(0.0700)

 

 

(2.4130)

0.3500

0.7030

(1.3600)

 

Diluted losses per ADS (USD)

(0.0600)

0.0126

0.0376

(0.0098)

 

 

(0.3350)

0.0492

0.0948

(0.1910)

 

 

 

 

For The Three Months Ended September 30, 2024

For The Nine Months Ended September 30, 2024

 

GAAP

Share-based

Amortization of

Non-GAAP

GAAP

Share-based

Amortization of

Non-GAAP

 

Result

Compensation

intangible assets*

Result

Result

Compensation

intangible assets*

Result

 

RMB

RMB

RMB

RMB

RMB

RMB

RMB

RMB

Revenues

192,083

-

-

192,083

569,788

-

-

569,788

Cost of revenues

(61,714)

92

-

(61,622)

(197,365)

541

-

(196,824)

Gross profit

130,369

92

-

130,461

372,423

541

-

372,964

 

 

 

 

 

 

 

 

Research and development

(66,269)

236

6,156

(59,877)

(177,885)

644

18,468

(158,773)

Selling and marketing

(89,038)

(277)

469

(88,846)

(237,570)

(167)

1,407

(236,330)

General and administrative

(47,349)

4,863

-

(42,486)

(188,104)

19,939

-

(168,165)

Other operating income, net

278

-

-

278

1,014

-

-

1,014

Total operating income and expenses

(202,378)

4,822

6,625

(190,931)

(602,545)

20,416

19,875

(562,254)

 

 

 

 

 

 

 

 

 

Operating loss

(72,009)

4,914

6,625

(60,470)

(230,122)

20,957

19,875

(189,290)

Net loss attributable to Cheetah Mobile shareholders

(46,897)

4,914

6,625

(35,358)

(250,773)

20,957

19,875

(209,941)

 

 

 

 

 

 

 

 

 

Diluted losses per ordinary share (RMB)

(0.0323)

0.0033

0.0044

(0.0246)

(0.1711)

0.0140

0.0132

(0.1439)

Diluted losses per ADS (RMB)

(1.6150)

0.1650

0.2200

(1.2300)

(8.5569)

0.7000

0.6619

(7.1950)

 

 

* This represents amortization of intangible assets resulting from business acquisitions.

 

7


 

CHEETAH MOBILE INC.

Information about Segment

(Unaudited, amounts in thousands of Renminbi ("RMB") and US dollars ("US$"), except for percentage)

 

 

 

 

For The Three Months Ended September 30, 2025

 

For The Nine Months Ended September 30, 2025

 

 

Internet Business

 

AI and others

 

Consolidated

 

Internet Business

 

AI and others

 

Consolidated

 

 

RMB

 

RMB

 

RMB

 

USD

 

RMB

 

RMB

 

RMB

 

USD

Revenues

 

142,407

 

144,962

 

287,369

 

40,367

 

459,385

 

382,208

 

841,593

 

118,217

Operating Costs and expenses

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost of revenues(i)

 

25,999

 

47,002

 

73,001

 

10,254

 

75,306

 

137,616

 

212,922

 

29,909

Selling and marketing(i)

 

45,371

 

37,252

 

82,623

 

11,606

 

174,986

 

114,609

 

289,595

 

40,679

Research and development(i)

 

33,441

 

34,693

 

68,134

 

9,571

 

99,693

 

96,410

 

196,103

 

27,547

Other segment items(i)

 

16,252

 

40,698

 

56,950

 

8,000

 

41,199

 

124,766

 

165,965

 

23,313

Adjusted operating income/(loss)

 

21,344

 

(14,683)

 

6,661

 

936

 

68,201

 

(91,193)

 

(22,992)

 

(3,231)

Unallocated amounts-share based compensations

 

 

 

 

 

(2,729)

 

(384)

 

 

 

 

 

(10,674)

 

(1,499)

Operating income/(loss)

 

 

 

 

 

3,932

 

552

 

 

 

 

 

(33,666)

 

(4,730)

Reconciliation of segment profit/(loss)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest income, net

 

 

 

 

 

9,560

 

1,343

 

 

 

 

 

25,145

 

3,532

Foreign exchange gains, net

 

 

 

 

 

8,628

 

1,212

 

 

 

 

 

16,627

 

2,336

Other expense , net

 

 

 

 

 

(12,318)

 

(1,730)

 

 

 

 

 

(34,171)

 

(4,800)

Income/(loss) before income taxes

 

 

 

 

 

9,802

 

1,377

 

 

 

 

 

(26,065)

 

(3,662)

 

 

 

 

 

For The Three Months Ended September 30, 2024

 

For The Nine Months Ended September 30, 2024

 

 

Internet Business

 

AI and others

 

Consolidated

 

Internet Business

 

AI and others

 

Consolidated

 

 

RMB

 

RMB

 

RMB

 

RMB

 

RMB

 

RMB

Revenues

 

134,287

 

57,796

 

192,083

 

357,036

 

212,752

 

569,788

Operating Costs and expenses

 

 

 

 

 

 

 

 

 

 

 

 

Cost of revenues(i)

 

19,687

 

41,935

 

61,622

 

58,638

 

138,186

 

196,824

Selling and marketing(i)

 

53,113

 

36,202

 

89,315

 

130,702

 

107,035

 

237,737

Research and development(i)

 

32,594

 

33,439

 

66,033

 

84,825

 

92,416

 

177,241

Other segment items(i)

 

15,088

 

27,120

 

42,208

 

46,245

 

120,906

 

167,151

Adjusted operating income/(losses)

 

13,805

 

(80,900)

 

(67,095)

 

36,626

 

(245,791)

 

(209,165)

Unallocated amounts-share based compensations

 

 

 

 

 

(4,914)

 

 

 

 

 

(20,957)

Operating loss

 

 

 

 

 

(72,009)

 

 

 

 

 

(230,122)

Reconciliation of segment profit/(loss)

 

 

 

 

 

 

 

 

 

 

 

 

Interest income, net

 

 

 

 

 

9,471

 

 

 

 

 

34,560

Foreign exchange gains, net

 

 

 

 

 

21,351

 

 

 

 

 

10,510

Other income/(expense), net

 

 

 

 

 

1,738

 

 

 

 

 

(57,469)

Loss before income taxes

 

 

 

 

 

(39,449)

 

 

 

 

 

(242,521)

 

 

(i) Share-based compensations were not allocated to segments. Other segment items include general and administrative expenses and other operating expenses allocated to the respective segments.

8


 

CHEETAH MOBILE INC.

Reconciliation from Net Loss 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

 

For The Nine Months Ended

 

 

September 30, 2024

 

September 30, 2025

 

September 30, 2025

 

September 30, 2024

 

September 30, 2025

 

September 30, 2025

 

 

RMB

 

RMB

 

USD

 

RMB

 

RMB

 

USD

Net loss attributable to Cheetah Mobile shareholders

 

(46,897)

 

(10,974)

 

(1,541)

 

(250,773)

 

(66,974)

 

(9,408)

Add:

 

 

 

 

 

 

 

 

 

 

 

 

Income tax expenses/(benefits)

 

2,387

 

13,506

 

1,897

 

(3,806)

 

22,191

 

3,117

Interest income, net

 

(9,471)

 

(9,560)

 

(1,343)

 

(34,560)

 

(25,145)

 

(3,532)

Depreciation and other amortization

 

12,205

 

12,270

 

1,724

 

36,834

 

32,809

 

4,609

Net income attributable to noncontrolling interests

 

5,061

 

7,270

 

1,021

 

12,058

 

18,718

 

2,629

Other (income)/ expense, net

 

(23,089)

 

3,690

 

518

 

46,959

 

17,544

 

2,464

Share-based compensation

 

4,914

 

2,729

 

384

 

20,957

 

10,674

 

1,499

Adjusted EBITDA

 

(54,890)

 

18,931

 

2,660

 

(172,331)

 

9,817

 

1,378

 

9