Cheetah Mobile Inc. (NYSE:CMCM)

Fourth Quarter 2019 Financial Results

• Total revenues were RMB612.0 million (US$87.9 million) in the fourth quarter of 2019, decreasing by 55.7% year over year.
• Non-GAAP basic/diluted loss per ADS was RMB1.78 (US$0.26) in the fourth quarter of 2019, compared to diluted earnings per ADS of RMB5.34 of 2018.

Mr. Sheng Fu , Cheetah Mobile's Chairman and Chief Executive Officer, stated, "We are currently facing some difficulties in our legacy mobile internet business. However, these challenges are not causing any damage to our company at the systemic level. Over the past years, we have built an unyielding and relentless team while amassing a strong balance sheet. Importantly, the recent outbreak of COVID-19 has increased customer demand for our robotics products and solutions, while robotics business will not generate significant revenues in the near term. Going forward, we are confident in our ability to rejuvenate growth in our business by capturing those opportunities emerging in the field of artificial intelligence."

Mr. Thomas Ren , Cheetah Mobile's Chief Financial Officer, commented, "Despite facing difficulties in growing our revenues, we continued to implement strict cost and expense controls while simultaneously restructuring some of our business units. In the fourth quarter of 2019, total non-GAAP costs and expenses decreased by 36% year over year while the operating profit of our utility products and related services business grew to RMB29 million from RMB24 million in the third quarter of 2019. Looking into 2020, we will continue to implement prudent cost-saving measures. In addition, we believe that our strong balance sheet will enable us to weather through these difficulties."

Business Outlook

For the first quarter of 2020, the Company expects its total revenues to be between RMB490 million (US$70 million) and RMB540 million (US$78 million). This amount has reflected the fact that LiveMe's revenues will no longer be included in the Company's revenues. The above outlook is based on the current market conditions and reflects the Company's preliminary estimates, which are all subject to change, particularly in light of the uncertainties related to how COVID-19 develops.

BEIJING, Feb. 21, 2020 /PRNewswire/ -- Cheetah Mobile Inc. (NYSE: CMCM) ("Cheetah Mobile" or the "Company"), a leading mobile internet company with global market coverage, today announced that it has been informed by Google that the Company's Google Play Store, Google AdMob and Google AdManager accounts have been disabled on February 20, 2020, and the associated contracts will be terminated.  

Pending the restoration of Google collaboration, the Company expects its ability to attract new users and generate revenue from Google may be materially adversely affected from February 2020. In the first nine months of 2019, Cheetah Mobile generated 22.6% of its total revenues from Google, including revenues from the mobile advertising business and revenues from the purchase and consumption of virtual items by users via Google as a channel.

According to Google, the decision was made because some of the Company's apps had not been compliant with Google policies, resulting in certain invalid traffic. The Company is in continuous communication with Google to appeal the decision, clarify any misunderstanding, and adopt any requisite remedial measures to restore the disabled accounts. However, the appealing process could be time-consuming, and the Company cannot guarantee that its appeals will be successful.

Cheetah Mobile remains committed to upholding the high standards in the industry and complying with Google Play developer policies, GDPR, laws, and regulations. The Company's priority has always been to protect the interests of its users and enhance the user experience.

BEIJING, Jan. 17, 2020 /PRNewswire/ -- Cheetah Mobile Inc. (NYSE: CMCM) ("Cheetah Mobile" or the "Company"), a leading mobile internet company with global market coverage, today announced that it has appointed Mr. Thomas Jintao Ren as the Company's Chief Financial Officer, effective January 31st, 2020. Mr. Ren will succeed Mr. Vincent Jiang, who plans to resign from his position for personal reasons. In the future, Mr. Vincent Jiang will continue to support the Company's growth.

Mr. Sheng Fu, Cheetah Mobile's Chairman and Chief Executive Officer stated, "We are pleased to welcome Thomas to join Cheetah Mobile as Chief Financial Officer. With his strong track records in capital markets, corporate finance and management, we believe Thomas will be a great addition to our management team and will bring rich experience for Cheetah Mobile's future development."

Mr. Ren stated, "I am honored to be appointed as the chief financial officer of Cheetah Mobile. I look forward to working with the team to continue our growth and strengthen our leadership in the industry."

Thomas Jintao Ren will join us from Renren Inc. (NYSE: RENN), where he has served as a chief financial officer since September 2015. Mr. Ren also served as the chief financial officer of Kaixin Auto Holdings (NASDAQ:KXIN) from September 2015 to August 2019. Kaixin Auto Holidings is a subsidiary of Renren Inc. Prior to rejoining Renren Inc., Mr. Ren was the chief financial officer at Chukong Technologies. From 2005 and 2014, Mr. Ren served as Renren Inc.'s senior finance director. Prior to that, Mr. Ren had worked at KPMG for five years. Mr. Ren holds a bachelor's degree in economics from Renmin University of China. He is a certified public accountant in China and the United States, and a chartered professional accountant in Canada.

Fourth Quarter 2018 Financial Results

• Total revenues^[1] increased by 1.8% year over year and 2.2% quarter over quarter to RMB1,381.2 million (US$200.9 million).

• Diluted net income per ADS was RMB5.35 (US$0.78). Non-GAAP^[2] diluted net income per ADS was RMB5.60 (US$0.81).

Mr. Sheng Fu, Cheetah Mobile's Chairman and Chief Executive Officer, stated, "We achieved full year 2018 financial results that were in line with our previous expectations, mostly driven by growths in our mobile games operation, mobile utility products business in the domestic market, and artificial intelligence ("AI") powered business. In 2018, we further expanded our product offerings by launching many new games including Bricks n Balls, a popular casual elimination game, and introducing a number of new utility products focused on delivering personalized experiences. We also made substantial progress in attracting our users to purchase virtual items and premium services within our mobile applications, which diversified our revenue streams. More importantly, we have been leveraging AI technologies and expanding into AI-powered businesses. We have successfully launched AI hardware such as Cheetah Translator and deployed Cheetah GreetBot in many customer locations. Looking ahead, we are confident that our long-term growth prospects remain healthy and that our business will maximize the benefits of our users and advertisers continuously."

Mr. Vincent Jiang, Cheetah Mobile's Chief Financial Officer, commented, "In 2018, we grew our profits and expanded our margins. Our gross profit increased to RMB3.4 billion, and gross margin expanded to 69.1%. Our operating profit increased to RMB467 millionand operating margin expanded to 9.4%. In addition, we continued investing in our mobile games business and our mobile utility products business in the domestic market. More importantly, we generated RMB342 million of net cash from operating activities in 2018. In the fourth quarter of 2018, we sold a certain portion of our equity ownership in Bytedance Ltd., which generated a total investment gain of US$87 million and further augmented our balance sheet. As of December 31, 2018, we had cash and cash equivalents, restricted cash, and short-term investments of approximately US$541 million. Our strong cash generation capabilities and our high cash balance should allow us to continue to invest in our long-term growth and our business expansion into the AI space."

BUSINESS OUTLOOK

For the first quarter of 2019, the Company expects its total revenues to be between RMB1,060 million (US$154.2 million) and RMB1,090 million (US$158.5 million). This estimate represents management's preliminary view as of the date of this release, which is subject to change.

BEIJING, Nov. 28, 2018 /PRNewswire/ -- Cheetah Mobile Inc. (CMCM) ("Cheetah Mobile" or the "Company"), a leading mobile internet company with global market coverage, today announced plans to take legal action against mobile app attribution and analytics company Kochava for providing false information and opinions about Cheetah Mobile's advertising system to the media, leading to a sharp decline in the Company's stock price. The Company believes that Kochava's actions are misleading and completely without merit.

Kochava has accused Cheetah Mobile's apps of engaging in a fraudulent advertising practice known as "click injection." Kochava has based this assertion on a series of tests carried out in a simulated smartphone environment, the results of which were shared with Cheetah Mobile and the media in a series of videos. However, upon analyzing the videos and other evidence, the Company discovered that Kochava's testing methods contained fundamental mistakes, leading to a number of false or misleading conclusions, including:

1. In the evidence provided to Cheetah Mobile, click injection occurs whether Cheetah Mobile apps are installed or not. It is unrelated to Cheetah Mobile's apps.

On November 27, BuzzFeed News published the following statement, attributed to Grant Simmons, the head of client analytics for Kochava:

"The explanation provided by Cheetah refers to SDKs meant for ad delivery in-app. The fraud detailed in our research and the related article does not look at in-app ad delivery from the apps in question, but instead the syndication of fraudulent signals taking place on the device when the apps are present," he said in an email.

In the videos, Kochava first opens a Cheetah Mobile utility app while a large number of apps and SDKs unrelated to Cheetah Mobile's apps are open, such as Appcoach and Webeye. These ad SDKs have no relationship with Cheetah Mobile's utility apps. Kochava then uses the smartphone simulator to install a new app, which causes Appcoach or Webeye to report the installation to Kochava. But since Appcoach and Webeye are not installed inside Cheetah Mobile's apps, this action has nothing to do with Cheetah Mobile.

In fact, in the above simulation environment, even if you uninstall all of Cheetah Mobile's apps, an attribution report is generated. But by deliberately opening Cheetah Mobile's utility apps within the simulation environment, Kochava is giving the erroneous impression that the reports generated by the third-party SDKs are related to Cheetah Mobile's apps. Therefore, the evidence presented in Kochava's videos is inaccurate and misleading.

2. Kochava has alleged that all of relevant advertising SDKs embedded in Cheetah Mobile's products are owned and developed by Cheetah Mobile, but in fact, nearly 97% of Cheetah Mobile's overseas utility revenue comes from third-party advertising SDKs. These third-party SDKs can be found on all of the world's major advertising platforms and being used on numerous mainstream global apps. The SDKs are unrelated to Cheetah Mobile.

The following statement appears in the same BuzzFeed article mentioned above:

The SDK involved in the suspect activity is actually owned and developed by Cheetah, not by third parties, according to Kochava.

Kochava's videos show that once a new app is installed, advertising SDKs on Cheetah Mobile apps, such as Batmobi, Duapps and Altmob, report the download data to Kochava, which then determines attribution based on this data.

Cheetah Mobile cooperates with all of the major global advertising platforms. Every platform provides ads on Cheetah Mobile's apps through their own SDKs embedded on Cheetah Mobile apps. The SDKs and third-party attribution platforms work together to determine attribution of app installations. Cheetah Mobile is not part of this process.

Kochava is an app attribution company, whose business model is based on determining installation attribution from third-party SDKs. Therefore, they fully understand that attribution is unrelated to the app itself. In their videos, they are misleading the media to believe that Cheetah Mobile is engaged in fraudulent practices.

3. The media and Kochava intentionally exaggerated the relationship between Cheetah Mobile and Kika Tech to intentionally overstate Cheetah Mobile's influence over Kika Tech.

The article states that:

The other app is owned by Kika Tech, a Chinese company now headquartered in Silicon Valley that received a significant investment from Cheetah in 2016.

This statement is misleading. Kika Tech is just one of more than 80 companies that the Company has invested in. Cheetah Mobile owns less than a five percent stake in Kika Tech and has no seats on the board. Furthermore, the Company has zero operational control over Kika Tech.

4. Kochava has severely damaged the reputation of a public company with its unfounded claims. The Company reserves the right to take legal action against Kochava.

In the same article, Grant Simmons, head of client analytics for Kochava, is quoted as saying:

"This is theft — no other way to say it."

 The Company finds this comment extremely hostile and outrageous.

Cheetah Mobile is a leading global app developer with numerous global partnerships. In the third quarter 2018, 70.31% of the Company's overseas utility revenue came from Google and Facebook's ad SDKs, while 26.06% came from other mainstream global ad platform SDKs. These SDKs are used on mainstream apps throughout the world.

Cheetah Mobile's success is based on long-term steady development and providing users with a better user experience. The Company is dedicated to building a healthy development model. The Company is also committed to complying with all relevant Google policies, GDPR, laws and regulations.

Gaia Guan, CEO of Moca Technology, a global mobile advertising platform focused on India and developing markets, said, "Cheetah Mobile is a pioneering Chinese mobile app company overseas. They are constantly focused on improving the product experience and ad experience for users, while strictly adhering to industry regulations and standards. In our many years working with Cheetah Mobile, they have always put the user and advertisers first, while treating their partnerships fairly and transparently."

5. After investigating our third-party SDKs, the Company has removed Batmobi and Duapps from its apps

Cheetah Mobile has cooperated with the third-party security firm Threat Hunter to investigate the situation, particularly regarding the advertising SDKs featured in the videos that could potentially possess attribution risks, namely Batmobi and Duapps. To be cautious, the Company has proactively removed them in our updated apps. We continue to investigate, and will suspend cooperation with any SDK providers that are found to be engaging in fraudulent activities.

Kochava has a relatively small market share. In 2016, Kochava publicized its cooperation with Cheetah Mobile multiple times to raise its prestige, while seeking to expand its cooperation with the Company. Cheetah Mobile ceased its collaboration with Kochava in September 2016.

Cheetah Mobile rejects Kochava's accusations as baseless. The Company will continue to place even more value on advertisers' rights and making sure the industry develops in a healthy way. As one of the top publishers in the world, Cheetah Mobile pledges to redouble its efforts towards monitoring and detecting potential issues within third-party ad SDKs and its own products in order to ensure maximum benefits for advertisers and users alike.

BEIJING, Nov. 27, 2018 /PRNewswire/ -- Cheetah Mobile Inc. (CMCM) ("Cheetah Mobile" or the "Company"), a leading mobile internet company with global market coverage, today further responded to the article issued by BuzzFeed News dated November 26 and November 27, 2018, regarding the attribution of app installations.

Near 97% of the revenue from the Company's utility apps in the overseas market are contributed by dozens of third-party advertising platforms through SDKs and the remaining 3% are from an SDK developed by Cheetah Mobile itself, which represents less than 1% of the Company's total revenue in the third quarter of 2018. Most of these SDKs are widely implemented in numerous other popular mobile applications all over the world. 

Cheetah Mobile has no control over these third party advertising platforms. The Company has neither the intention or ability to direct such advertising platforms to engage in the alleged "click injections."  In addition, given the overwhelming contribution of revenues from third party adverting platforms, the Company has no intention to engage in any alleged "click injection" activities.

The Company noted that there are numerous untrue and misleading statements in these two articles. The Company plans to take legal actions against those parties such as Kochava and the responsible persons that the Company believes have generated and disseminated those untrue and misleading statements.

BEIJING, Nov. 27, 2018 /PRNewswire/ -- Cheetah Mobile Inc. (NYSE: CMCM) ("Cheetah Mobile" or the "Company"), a leading mobile internet company with global market coverage, today responded to an article issued by BuzzFeed News dated November 26, 2018 regarding attribution of app installations.

Cheetah Mobile takes the issues raised in the article very seriously. The Company is in communication with all SDK providers to investigate the allegations. The Company is committed to preventing any SDKs integrated in its apps from engaging in inappropriate activities and will suspend the business cooperation with any SDK providers if they are found to be engaging in fraudulent activities.  The Company is dedicated to complying with all relevant Google policies, GDPR, laws and regulations.

Cheetah Mobile works with almost all major ad platforms in the advertising industry. Each platform supplies ads through its own SDK integrated with the Company's apps, then the SDKs decide which ads to display. The SDKs and third-party attribution platforms work together to determine attribution of app installations. Cheetah Mobile's apps themselves are not part of that process.

Third Quarter 2018 Financial Results

• Total revenues[1] grew by 15.6% year over year and 22.5% quarter over quarter to RMB1,352.0 million (US$196.9 million).
• Net income attributable to Cheetah Mobile shareholders increased by 19.6% year over year to RMB167.0 million (US$24.3 million) in the third quarter of 2018.

Mr. Sheng Fu, Cheetah Mobile's Chairman and Chief Executive Officer, stated, "We successfully reinvigorated our growth engine through our mobile games, mobile utility, and artificial intelligence ("AI") businesses. In the third quarter of 2018, both revenues and profits from our mobile games business hit record highs, driven mostly by the long-tail success of Bricks n Balls, a game we started to operate earlier this year, and users' increasing in-game purchases. In our mobile utility business, we grew the mobile utility revenue in the domestic market by 54% year over year, stopped the revenue decline in the overseas market, and stabilized the revenues from our PC business. In our AI business, our consumer product -- Cheetah Translator -- has been the top seller among its peers since its launch in July, while our enterprise product -- Cheetah GreetBot – has now gone into commercial production. Looking forward, we are confident that we have the strategy and the team in place to overcome the challenge of market uncertainties. To express our strong conviction about our long-term success, we have initiated a 12-month share repurchase plan of up to US$100 million."

Mr. Vincent Jiang, Cheetah Mobile's Chief Financial Officer, commented, "Driven by our mobile games operation and our mobile utility products and related services business in the domestic market, our total revenues resumed the year-over-year and quarter-over-quarter growth trajectory in the third quarter of 2018 and exceeded the high end of our guidance range. On the profit side, our utility products and related services business continued to generate strong profits and cash flow. Our mobile games operation also achieved significant margin improvement sequentially and year over year attributable to a better operating leverage. These improvements contributed to the strong cash flow generated from our operating activities in the third quarter of 2018. As of September 30, 2018, we had cash and cash equivalents, restricted cash, and short-term investments of approximately RMB3.6 billion. Our strong cash generation capabilities and our high cash balance are enabling us to continue to invest in our long-term growth and our business expansion into the AI space."

BEIJING, Sept. 13, 2018 /PRNewswire/ -- Cheetah Mobile Inc. (CMCM) ("Cheetah Mobile" or the "Company"), a leading mobile internet company with a strong global vision, today announced that the Company's board of directors approved a share repurchase program whereby the Company may purchase its American depositary shares ("ADSs") with an aggregate value of up to US$100 million over the next 12-month period.

Mr. Sheng Fu, Cheetah Mobile's Chairman, and Chief Executive Officer, stated, "The board's decision to purchase Cheetah Mobile's ADSs reflects our belief that buying back our own shares is a good investment for the Company. Cheetah Mobile continues to generate substantial earnings and free cash flow. Driven by our mobile utility products business in the domestic market, and our mobile game operations, we expect our total revenues to recover its growth trend in the second half of 2018. In addition, our AI technology business has made solid progress, which has positioned us well in the post-mobile era. We are confident in the long-term outlook for our business."

The repurchases may be made from time to time on the open market at prevailing market prices, in privately negotiated transactions, in block trades and/or through other legally permissible means. The timing and extent of any purchases will depend on market conditions, the trading price of the Company's ADSs and other factors, subject to applicable rules and regulations. The Company expects to implement this share repurchase program in a manner consistent with market conditions and in the best interests of the Company's shareholders. The Company's board of directors will review the share repurchase program periodically, and may authorize adjustments of its terms and size accordingly. The Company plans to use its available cash balance to fund repurchases made under this program.

Second Quarter 2018 Financial Results

• Total revenues[1] were RMB1,103.5 million (US$166.8 million), exceeding the Company's previous guidance range of RMB1,020.0 million to RMB1080.0 million.
• Diluted income per ADS was RMB1.29 (US$0.19) in the second quarter of 2018. Non-GAAP diluted income per ADS was RMB1.39 (US$0.21) in the second quarter of 2018 from RMB0.64 in the same period last year.

Mr. Sheng Fu, Cheetah Mobile's Chairman and Chief Executive Officer, stated, "We are pleased that the initiatives we have implemented to resume growth for our company are starting to bear fruit. In the second quarter of 2018, we reported better-than-expected total revenue. In the second half of 2018, we expect revenues to recover its sequential growth trends, primarily driven by growth in our mobile utility products business in the domestic market, growth in our mobile game business and the normal seasonality effect. In this quarter, revenues from mobile utility products in the domestic market grew substantially, primarily driven by our Clean Master application for the Chinese market, which reached over 30 million DAUs in June. In addition, our existing game portfolio has continued to achieve solid performance. Going forward, we expect our existing businesses in mobile utility products and mobile games will continue to grow steadily and generate healthy profits. Meanwhile, we are excited to further develop our new artificial intelligence ("A.I.") robotics products, with the help of Beijing OrionStar."

Mr. Vincent Jiang, Cheetah Mobile's Chief Financial Officer, commented, "We are pleased with the continued profit and margin improvements during the second quarter of 2018, especially in our utility product and related services business driven by the strong performance of our mobile utility products in the domestic market. Going forward, we will remain committed to our ongoing efforts in optimizing the Company's cost structures and operating efficiency. We are confident that the strong cash flow generated by our existing business and our strong cash reserves will enable us to further expand into the A.I. space which we expect to be the key to our long term growth."

Business Outlook

For the third quarter of 2018, the Company expects its total revenues to be between RMB1,290 million (US$194.9 million) and RMB1,350 million (US$204.0 million), representing a year-over-year increase of 10% to 15%. This estimate represents management's preliminary view as of the date of this release, which is subject to change.

First Quarter 2018 Financial Results

• Total revenues[1] were RMB1,145.1 million (US$182.6 million), exceeding the Company's previous guidance range of RMB1,100 million to RMB1,140 million.
• Diluted income per ADS was RMB0.42 (US$0.07) in the first quarter of 2018. Non-GAAP diluted income per ADS was RMB0.48 (US$0.08) in the first quarter of 2018.

Mr. Sheng Fu, Cheetah Mobile's Chairman and Chief Executive Officer, stated, "We began 2018 on a solid note with total revenues exceeding the high-end of our guidance. In the first quarter of 2018, our utility product business continued to generate strong profits and cash flow. We also solidified our leading position in the mobile casual game market by further enriching our game pipeline. Our artificial intelligence ("AI") powered businesses made steady progress as well. In March, Cheetah Mobile and Beijing OrionStar jointly launched five practical and easy-to-use robotics products, which are powered by Orion OS, an open platform for robotics, which has been developed by Beijing OrionStar. Going forward, we aim to drive steady and healthy profit from our core businesses while simultaneously leveraging our extensive technology and product experience to expand our robotic product offerings."

Mr. Vincent Jiang, Cheetah Mobile's Chief Financial Officer, commented, "We continued to expand our profits and margins in the first quarter of 2018 as a result of our strategic efforts to optimize the cost and expense structure for our utility products business and our initiative to dispose of News Republic. Looking ahead, we will continue to drive higher operational efficiency for our core businesses, which in turn will fund our investment in AI-powered business and build long-term growth for Cheetah Mobile and its shareholders."

Business Outlook

For the second quarter of 2018, the Company expects its total revenues to be between RMB1,020 million (US$163 million) and RMB1,080 million (US$172 million). This estimate represents management's preliminary view as of the date of this release, which is subject to change.

TEL AVIV, Israel, May 9, 2018 /PRNewswire/ -- Cheetah Mobile Inc. (NYSE: CMCM), the leading developer of mission-critical mobile utility and security applications has implemented Protected Media's fraud detection and prevention solutions to identify and mitigate in-app advertising fraud and measure viewability. As part of their commitment to providing quality traffic and optimize ad spend, Cheetah Mobile is taking proactive, preventive fraud protection measures, increasing transparency and protecting marketing budgets. Cheetah Mobile apps have nearly four billion global installs with more than 580 million monthly active users.

As publishers and advertisers worldwide suffer from increasingly sophisticated fraud schemes, Cheetah Mobile is taking a pioneering step, leveraging a cutting edge solution comprised of both AI technologies and traditional cyber security methodologies, in order to protect their premium advertisers and the integrity of their market leading applications. Protected Media's solution for advertisers and publishers provides multi-layered ad fraud detection and prevention, to accurately identify the source of bad traffic at the most granular level, providing both publisher and advertiser with transparency and trust.

Fraudsters have a huge incentive to focus more on in-app fraud since it is demanding a larger share of advertising budgets, due in part because it is less impacted by ad blocking. IHS Inc. estimates that in-app native ad revenue will grow to almost two-thirds of mobile display ad revenue reaching $53.4bn by 2020. Over the past six months, Protected Media has seen in-app publisher fraud attempts rise to almost 10 times the previous rate across its installed base.

"We feel a strong sense of responsibility towards our advertisers. We're committed to optimizing ad spend to maximize ROI for our advertisers and so that we can continue to provide quality applications and content to our over half a billion consumers," said Bounz Chien, Head of Cheetah Marketplace at Cheetah Mobile. "Protected Media is an excellent partner for us - they provide unparalleled ad fraud detection and prevention with no latency for our advertisers. Fraud detection and prevention is a precise science and we've noticed that different publishers are susceptible to different fraud schemes, with utility providers more likely to feel the effects of fraud. There are also viewability issues which content publishers need to address. We are extremely impressed with the precision and granularity of the results we've seen with Protected Media and we are proud to join the quest to bring better transparency and trust to mobile in-app ad measurements."

"We are proud to provide Cheetah Mobile scalable, reliable methods of fraud detection and prevention to give their customers a high level of confidence that their ad traffic is real," said Amichai Zuntz, EVP Sales of Protected Media. "For too long, publishers have been unfairly paying the price for ad fraud. With a robust multi layered anti-fraud approach, publishers like Cheetah can regain control of their traffic, and focus on what they do best – creating applications and content that will attract premium advertisers."

TEL AVIV, Israel, May 9, 2018 /PRNewswire/ -- Cheetah Mobile Inc. (CMCM), the leading developer of mission-critical mobile utility and security applications has implemented Protected Media's fraud detection and prevention solutions to identify and mitigate in-app advertising fraud and measure viewability. As part of their commitment to providing quality traffic and optimize ad spend, Cheetah Mobile is taking proactive, preventive fraud protection measures, increasing transparency and protecting marketing budgets. Cheetah Mobile apps have nearly four billion global installs with more than 580 million monthly active users.

As publishers and advertisers worldwide suffer from increasingly sophisticated fraud schemes, Cheetah Mobile is taking a pioneering step, leveraging a cutting edge solution comprised of both AI technologies and traditional cyber security methodologies, in order to protect their premium advertisers and the integrity of their market leading applications. Protected Media's solution for advertisers and publishers provides multi-layered ad fraud detection and prevention, to accurately identify the source of bad traffic at the most granular level, providing both publisher and advertiser with transparency and trust. 

Fraudsters have a huge incentive to focus more on in-app fraud since it is demanding a larger share of advertising budgets, due in part because it is less impacted by ad blocking. IHS Inc. estimates that in-app native ad revenue will grow to almost two-thirds of mobile display ad revenue reaching $53.4bn by 2020. Over the past six months, Protected Media has seen in-app publisher fraud attempts rise to almost 10 times the previous rate across its installed base.

"We feel a strong sense of responsibility towards our advertisers. We're committed to optimizing ad spend to maximize ROI for our advertisers and so that we can continue to provide quality applications and content to our over half a billion consumers," said Bounz Chien, Head of Cheetah Marketplace at Cheetah Mobile. "Protected Media is an excellent partner for us - they provide unparalleled ad fraud detection and prevention with no latency for our advertisers. Fraud detection and prevention is a precise science and we've noticed that different publishers are susceptible to different fraud schemes, with utility providers more likely to feel the effects of fraud. There are also viewability issues which content publishers need to address. We are extremely impressed with the precision and granularity of the results we've seen with Protected Media and we are proud to join the quest to bring better transparency and trust to mobile in-app ad measurements."

"We are proud to provide Cheetah Mobile scalable, reliable methods of fraud detection and prevention to give their customers a high level of confidence that their ad traffic is real," said Amichai Zuntz, EVP Sales of Protected Media. "For too long, publishers have been unfairly paying the price for ad fraud. With a robust multi layered anti-fraud approach, publishers like Cheetah can regain control of their traffic, and focus on what they do best – creating applications and content that will attract premium advertisers."

Fourth Quarter 2017 Financial Results

• Total revenues increased by 8.9% year over year and 16.2% quarter over quarter to RMB1,387.8 million (US$213.3 million), exceeding the Company's previous guidance range of RMB1,250 million to RMB 1,310 million.
• Diluted income per ADS increased to RMB7.27 (US$1.12) in the fourth quarter of 2017 from RMB0.41 in the same period last year and RMB0.95 in the third quarter of 2017.

Mr. Sheng Fu, Cheetah Mobile's Chairman and Chief Executive Officer, stated, "We are delighted to report a strong set of results for the fourth quarter of 2017. Our utility products and related service continued to expand its profitability and generate cash flow. Revenues from our Live.me and mobile game business continued to grow, thanks to our efforts in product innovation, creative operations, and content enrichment. Cheetah Mobile is a user- and product-focused company, so it is encouraging that our products continue to achieve notable progress. In this quarter, Live.me remained the No.1 grossing social app in the U.S. on Google Play and one of the top 6 in the Apple App Store. CM Launcher and Cheetah Keyboard were among the top 10 personalized apps in the U.S. on Google Play. Recently, we became one of the top 10 game publishers in the U.S. on both Google Play and the Apple App Store. Going forward, we will continue to use artificial intelligence ("AI") to enhance our products and services. We also believe that technologies such as blockchain will create opportunities for us to expand our product offerings."

Mr. Vincent Jiang, Cheetah Mobile's Chief Financial Officer, commented, "Driven by considerable growth in our mobile utility products and related services businesses in China and the overall growth of Live.me and mobile games, our total revenues exceeded the high end of our revenue guidance in the fourth quarter of 2017. Our operating profits continued to improve and achieved all-time highs in the quarter, driven by robust revenue growth and continued optimization of the cost and expense structure for utility products and related services. In the fourth quarter, we closed two significant disposals, News Republic and our interests in Musical.ly, which generated a gain of RMB1,089.0 million (US$167.4 million) in the fourth quarter of 2017 and greatly boosted our balance sheet. In addition, our core business continues to generate strong cash flow, which allows us to reallocate our resources to execute expansion plans in order to drive our long-term growth."

Business Outlook

For the first quarter of 2018, the Company expects its total revenues to be between RMB1,100 million (US$169 million) and RMB1,140 million (US$175 million). This estimate represents management's preliminary view as of the date of this release, which is subject to change.

PALO ALTO, Calif.--(BUSINESS WIRE)--

Cheetah Mobile Inc. (NYSE: CMCM), a leading mobile internet company with strong global vision, today announced a jointly published white paper “Global Cryptocurrency Wallet Security” with Blockchain Research Lab and Cheetah Lab, which explores the security risks currently facing the cryptocurrency wallet industry, puts forward security recommendations for wallet users, and outlines the security standards to which all safe cryptocurrency wallets should adhere. The paper is available for free download here: https://www.cmcmbc.com/

“Security is the most critical aspect of the cryptocurrency industry, and will ultimately determine the sustainability of its development and adoption,” said Edward Sun, SVP of Cheetah Mobile. “The creation of secure and reliable cryptocurrency wallets for the safe storage of crypto-assets is extremely important. At Cheetah Mobile, we are able to leverage our long-term experience in the security software industry and extensive analysis of current blockchain technologies and products.”

Key points in the paper include:

Defining the purpose of cryptocurrency wallets
How cryptocurrency wallets are categorized
Features of cryptocurrency wallets
Potential safety risks of cryptocurrency wallets
How to respond to cryptocurrency wallet security risks
Security standards of cryptocurrency wallets
Sun continued, “We hope that by publishing this white paper, users can more clearly understand the security issues surrounding cryptocurrency wallets and increase their vigilance against security threats. Also, by outlining the security standards for cryptocurrency wallets, we can help advance the security capabilities of the cryptocurrency wallet industry as a whole and jointly safeguard users' digital assets.”

The release of the “Global Cryptocurrency Wallet Security” white paper comes on the heels of Cheetah Mobile’s making waves announcing its move into the blockchain industry with its secure mobile cryptocurrency wallet, called SafeWallet.

SafeWallet was developed by the same professional team that has provided security services for more than 1 billion users for the last 5 years with successful mobile security products such as Clean Master and Security Master. Over 100 million customers use Cheetah Mobile security services every day to protect against viruses, malware and other threats. SafeWallet is currently available on Google Play, with an iOS version expected to be released shortly.

PALO ALTO, Calif., Jan. 31, 2018 /PRNewswire/ -- Cheetah Mobile Inc. (NYSE: CMCM), a leading mobile internet company with strong global vision, today announced the release of its secure mobile cryptocurrency wallet, called SafeWallet. The app's innovative three-tiered security defense system and easy-to-use interface allow users to safely and conveniently secure and manage their cryptocurrency assets. By leveraging its extensive mobile security and product development experience, Cheetah Mobile has truly created a safer mobile wallet.

SafeWallet employs a unique three-tiered security defense system that protects users in three key areas, including user behavior, phone security and asset management to provide maximum protection for users' digital assets and prevent them from being lost or stolen.

SafeWallet currently supports both Bitcoin (BTC) and Ether (ETH), with more currencies coming soon. The app allows users to easily and safely send and receive assets, create and manage multiple wallets, and import wallets in a variety of formats. SafeWallet also features an optimized transaction fee algorithm to reduce transaction fees and confirmation times. Additionally, SafeWallet's real-time exchange rate allows users to easily track the value of their digital assets.

SafeWallet has no access to your private key and may not, under any circumstance, initiate a transaction using your private key on your behalf.

"Cheetah Mobile's move into the blockchain industry represents a significant moment for our company," said Edward Sun, SVP of Cheetah Mobile. "Similar to our AI strategy, we are committed to staying at the forefront of the latest technological trends, and mobile asset security is an area that we believe we can have a strong impact."

SafeWallet was developed by the same professional team that has provided security services for more than 1 billion users for the last 5 years with successful mobile security products such as Clean Master and Security Master. Over 100 million customers use Cheetah Mobile security services every day to protect against viruses, malware and other threats

SafeWallet is currently available on Google Play, with an iOS version expected to be released shortly.

BEIJING, Nov. 29, 2017 /PRNewswire/ -- The popular photo collage app PhotoGrid is getting a spinoff designed specifically for the India market. Cheetah Mobile Inc. (CMCM), a leading mobile internet company with strong global vision, has launched the lite version of its photo editing app, PhotoGrid. The app has its fundamental features that will serve as a perfect tool to fit the needs of Indian mobile users.

PhotoGrid Lite is available on the Google Play Store. The PhotoGrid app is a key product for Cheetah Mobile in India and India consistently ranks as one of the top 6 performing countries for the app in terms of both its daily install and monthly usage rates. It has amassed an astonishing number of installations, more than 4 million, in India in the past 12 months. The key feature distinguishing PhotoGrid Lite from its full version is the application installation package has been reduced to 13MB from 34MB, making it an ideal fit for phones with less storage capacity, thereby making it run much faster, work efficiently and provide the best user experience.

PhotoGrid Lite is designed to bring a smoother, less-cluttered experience, with key highlights including the below:

No network connection required when using the app;
Extremely low battery consumption when running the app, making it one of the most energy efficient mobile photo editors in the world;
Access to features from the original PhotoGrid app most loved by Indian users.
"India is one of the top countries in the world with huge growth potential for both smartphone device penetration and 4G adoption," said Jill Shih, VP of Product & User Experience at Cheetah Mobile. "We at Cheetah Mobile will continue to invest in launching accessible and useful products catered specifically for this market and are confident that the app will be a huge success in India."

PhotoGrid Lite enables one to make personalized collage templates by selecting aspect ratios for photos, edit pictures with powerful editing tools with more than 300 templates with the ability to put up to 15 images together on the same collage. Users with a creative flair can personalize their photos with more than 200 poster templates; 500 stickers; 100 filters; and 400 backgrounds. Fans of Instagram will be happy to know that the app also comes with full support for Instagram's various supported aspect ratio cropping. PhotoGrid Lite, aims to become a no-frills one-stop mobile photo editor catering to all of your needs.

BEIJING, Nov. 10, 2017 /PRNewswire/ -- Cheetah Mobile Inc. (NYSE: CMCM) ("Cheetah Mobile" or the "Company"), a leading mobile internet company that aims to provide leading apps for mobile users worldwide and connect users with personalized content on the mobile platform, today announced that Bytedance Ltd. ("Bytedance") and Musical.ly have signed an agreement for Musical.ly to merge with Bytedance.

Musical.ly is a popular social entertainment app in the United States. Bytedance operates a range of content platforms that enable people to connect with, consume, and create content through machine learning technology.

Cheetah Mobile is an early investor of Musical.ly and held approximately 17.4% of equity interest in Musical.ly on a fully diluted and as-converted basis as of December 31, 2016.

BEIJING, Nov. 8, 2017 /PRNewswire/ -- Cheetah Mobile Inc. (NYSE: CMCM) ("Cheetah Mobile" or the "Company"), a leading mobile internet company that aims to provide leading apps for mobile users worldwide and connect users with personalized content on the mobile platform, today announced that Live.me Inc. has entered into a definitive agreement to raise US$50 million from Bytedance Ltd. ("Bytedance") as its Series B financing. In addition, Live.me will have priority to provide live streaming services to Bytedance in overseas markets should Bytedance start to integrate live streaming features into its products in these markets. This transaction is subject to certain closing conditions.

Mr. Sheng Fu, Cheetah Mobile's Chief Executive Officer, stated, "We are delighted to welcome Bytedance as a strategic partner for our fast-growing, live streaming business. Live.me has become a popular live streaming platform among American young adults, with a track record of strong growth in both user base and revenue contribution. Bytedance's investment will accelerate the growth of Live.me's live video and short video businesses."

BEIJING, Nov. 8, 2017 /PRNewswire/ -- Cheetah Mobile Inc. (CMCM) ("Cheetah Mobile" or the "Company") and Bytedance Ltd. ("Bytedance") today jointly announced that the two companies have entered into a strategic cooperation framework agreement. The strategic cooperation will enable Cheetah Mobile's users to access Bytedance's personalized content delivery services in the global market and improve the monetization capability of Cheetah Mobile's utility products. It will also allow Bytedance to tap into Cheetah Mobile's massive global mobile user base.

In addition, Cheetah Mobile and Bytedance have entered into a definitive agreement whereby Bytedance will acquire News Republic, a global mobile news aggregating service operator owned by Cheetah Mobile, for a total consideration of US$86.6 million. Cheetah Mobile may elect to receive up to US$50 million of the consideration in shares of Bytedance. The transaction is subject to certain closing conditions. News Republic will become a wholly owned subsidiary of Bytedance after this transaction.

Mr. Sheng Fu, Cheetah Mobile's Chief Executive Officer, stated, "Cheetah Mobile is a Chinese Internet company with the best track record in overseas expansion. We have a strong DNA in globalization. Bytedance owns China's largest content platform, and has cutting-edge machine learning capabilities and content delivery technologies. This strategic partnership will allow Cheetah Mobile to accelerate the pace of executing our content strategy in the overseas markets, and create a win-win situation for both companies."

Mr. Yiming Zhang, Bytedance's Founder and Chief Executive Officer, stated, "We are delighted to partner with Cheetah Mobile, and bring our AI-powered content distribution services to more users by leveraging Cheetah Mobile's global reach. Through the acquisition of News Republic, we have access to high-quality content from thousands of high-profile media partners around the world, making an exciting step forward in our international expansion strategy. It also broadens our reach into more overseas markets and enables us to provide more diverse and relevant contents to our users around the world."

BEIJING, Oct. 27, 2017 /PRNewswire/ -- Cheetah Mobile Inc. (CMCM) ("Cheetah Mobile" or the "Company"), a leading mobile internet company that aims to provide leading apps for mobile users worldwide and connect users with personalized content on the mobile platform, today responded to the allegations raised in a short seller's report dated October 26, 2017.

Cheetah Mobile believes these allegations are unfounded and contain numerous errors, unsupported speculation, and a general misunderstanding of the industry and the Company's business model. The Company stands by its publicly reported financial results and its public disclosures regarding the Company's business.  The Company has informed its board of directors and its independent auditors of the report, and will conduct a review of the allegations as appropriate. Today the Company would like to clarify certain key errors in the report.

Allegations Regarding Live.me:

i) Comparison with YouNow

The allegations question Live.me's revenue based on comparison with YouNow. As Live.me is well ahead of YouNow on metrics such as user downloads and total grossing ranking according to publicly available data.  It is not meaningful to compare the revenue of Live.me and YouNow.

Second Quarter 2017 Financial Results

• Total revenues increased by 14.8% year over year to RMB1,201.6 million (US$177.2 million), mostly driven by the Company's growth in mobile revenues, which achieved a record high during the second quarter of 2017.
• Diluted income per ADS in the second quarter of 2017 was RMB0.47 (US$0.07) as compared to diluted loss per ADS of RMB1.08 in the prior year period and diluted income per ADS of RMB0.64 in the previous quarter.
• Non-GAAP diluted income per ADS in the second quarter of 2017 was RMB0.64 (US$0.09) as compared to non-GAAP diluted loss per ADS of RMB0.44 in the prior year period and non-GAAP diluted income per ADS of RMB0.81 in the previous quarter.

Mr. Sheng Fu, Cheetah Mobile's Chief Executive Officer, stated, "Our second quarter results remain stable and were in line with management expectations. We have been making adjustments to our utility products and realigning our cost structure.  As a result, we continued to generate robust operating profit and cash flow from our utility product business during the second quarter of 2017. Also during the quarter, our mobile game business grew considerably on both top and bottom lines as we continued to expand our game portfolio with new mobile game introductions in early 2017. In addition, we further increased Live.me's user engagement and user stickiness through continued product improvement and content enrichment. We are confident that we remain on track to build a sustainable growth model for the long term."

Mr. Vincent Jiang, Cheetah Mobile's Chief Financial Officer, commented, "We made a concerted effort in controlling our utility products' cost and expenses in the second quarter of 2017. As a result, our operating profit and net cash generated from operating activities for the quarter grew significantly both year over year and quarter over quarter. For the second half of 2017, we have a clear strategy to maintain our utility products' profitability and at the same time grow our Live.me and mobile game businesses.

Because our various business lines are in different phases of growth, in the first quarter of 2017, we reported our revenues according to business lines to help investors better understand our businesses. As we increasingly evaluate our utility products and related services separately from the rest of our business lines to assess their performance and allocate resources, in the second quarter of 2017, we will report our utility products and related services as one operating segment and consolidate our remaining businesses, including our content-driven products and mobile game businesses into one segment called the mobile entertainment business."

Business Outlook

For the third quarter of 2017, the Company expects its total revenues to be between RMB1,150 million (US$170 million) and RMB1,210 million (US$178 million), representing a year-over-year increase of 2% to 7%. This estimate represents management's preliminary view as of the date of this release, which is subject to change.

BEIJING, May 26, 2017 /PRNewswire/ -- Cheetah Mobile Inc. (CMCM) ("Cheetah Mobile" or the "Company"), a leading mobile internet company that aims to provide leading apps for mobile users worldwide and connect users with personalized content on the mobile platform, today announced that Beijing Kingsoft Internet Security Software Co., Ltd. ("Beijing Security"), a wholly-owned subsidiary of the Company, has entered into a capital injection agreement ("Capital Injection Agreement") with Beijing OrionStar Technology Co., Ltd. ( "Beijing OrionStar"), an artificial intelligence company incorporated in China and controlled by Mr. Sheng Fu, the chief executive officer and director of Cheetah Mobile, Pingtan Dingfu Investment Management Co., Ltd. ("Pingtan Dingfu"), Beijing Kangyuan Heart Management Consulting Center Limited Partnership ("Kangyuan Heart"), and the existing shareholders of Beijing OrionStar.

Pursuant to the Capital Injection Agreement, Beijing Security, Pingtan Dingfu, and Kangyuan Heart agreed to subscribe to newly issued equity interest in Beijing OrionStar for a consideration of approximately US$40 million, US$0.4 million, and US$0.35 million, respectively, payable in cash. Upon completion of the transaction, Beijing Security is expected to hold 29.55% of equity interest in Beijing OrionStar.

Within two years after the completion of the transaction, Beijing Security is entitled to a warrant to subscribe to newly issued equity interest in Beijing OrionStar in the future with an equivalent value of up to US$62 million at the same unit subscription price as the current investment, subject to certain conditions and adjustments as provided in the Capital Injection Agreement. If the warrant is exercised in full, Beijing Security is expected to hold 51.68% of equity interest in Beijing OrionStar, assuming that there will be no other change in the shareholding structure of Beijing OrionStar.

This transaction is subject to customary and other closing conditions, including approval by the independent shareholders of Kingsoft Corporation Limited, Cheetah Mobile's controlling shareholder, at a general meeting.

First Quarter 2017 Financial Results

• Total revenues increased by 6.8% year over year to RMB1,190.7 million (US$173.0 million), primarily driven by growth in revenues from content-driven applications, which contributed to 18.8% of total revenues in the first quarter of 2017, as compared to 11.3% in the fourth quarter of 2016.
• Non-GAAP diluted income per ADS in the first quarter of 2017 was RMB0.81 (US$0.12), as compared with RMB0.71 in the prior year period and RMB0.80 in the previous quarter.

Mr. Sheng Fu, Cheetah Mobile's Chief Executive Officer, stated, "2017 is a year of transformation for Cheetah Mobile.  We will continue to enhance our artificial intelligence-based technology platform that brings new opportunities to the mobile utility space and drives the rapid growth of our mobile content products.  We are encouraged by the strong performance we are witnessing in Live.me, one of our successful content-driven products in the overseas markets.  Driven by Live.me's robust results, our overseas revenues1 achieved a record high in the first quarter of 2017.  We believe Live.me's recent financing by external investors is an endorsement of its strong future market potential and will provide more flexibility for Live.me to execute its growth strategy.  Looking at our core utility apps, A.I. allowed us to further expand our utility product portfolio even though the segment has entered into a more mature phase of its product cycle.   For example, we launched Panda Keyboard, an AI-enabled application, early this year.  Recently, Panda Keyboard has become one of the top 5 personalized applications in the U.S. on Google Play.  Importantly, our utility products and related services continue to generate strong profits, which lay a solid foundation for our mobile content transformation.  Going forward, we remain focused on content and artificial intelligence to drive further growth of our business."

Mr. Vincent Jiang, Cheetah Mobile's Chief Financial Officer, commented, "It is becoming increasingly clear that our total revenue growth is driven by the fast growth of our content-driven products.  We continue to optimize cost structure on the utility products side to maintain profitability and support the growth of our content-driven products.  As our various business lines are in different phases of growth, starting this quarter, we will report our revenues according to business lines to help investors better understand our businesses. We expect to provide more transparency in our operations in the coming quarters."

Business Outlook

For the second quarter of 2017, the Company expects its total revenues to be between RMB1,190 million (US$173 million) and RMB1,240 million (US$180 million), representing a year-over-year increase of 14% to 18% and a quarter-over-quarter increase of 0% to 4%.  This estimate represents management's preliminary view as of the date of this release, which is subject to change.

BEIJING, May 1, 2017 /PRNewswire/ -- Cheetah Mobile Inc. (NYSE: CMCM) ("Cheetah Mobile" or the "Company"), a leading mobile internet company that aims to provide leading apps for mobile users worldwide and connect users with personalized content on the mobile platform, today announced that Live.me Inc., the Company's 90%-owned Cayman Islands subsidiary which operates Live.me, a live video streaming application, has entered into definitive agreements to raise an aggregate of US$60 million from a group of investors, including Matrix Partners China ("Matrix"), Evolution Media China ("EMC"), Gobi Partners ("Gobi"), IDG Capital ("IDG"), and Welight Capital ("Welight") as well as Cheetah Mobile on April 28, 2017. Upon completion of the transaction, the Company directly holds approximately 70% equity interest in Live.me Inc., and retains control over the Live.me business.

Mr. Sheng Fu, Cheetah Mobile's Chief Executive Officer, stated, "We are delighted to welcome Matrix, EMC, Gobi, IDG and Welight as partners for our fast growing, global live video streaming business. Live.me recently reached its first anniversary, and this round of financing is the best birthday gift. Since its launch, Live.me has demonstrated a track record of strong growth in user number, user engagement and number of paying users, particularly in the U.S. market. We will have more resources to build Live.me into a global social community through partnering with top financial institutions. Going forward, we will continue to invest in R&D and further improve our overseas operations for Live.me in order to provide the best user experience for our users worldwide, better connect users with each other and enrich people's social lives through Live.me."

BEIJING, April 10, 2017 /PRNewswire/ -- Cheetah Mobile Inc. (CMCM) ("Cheetah Mobile" or the "Company"), a leading mobile internet company that aims to provide leading apps for mobile users worldwide and connect users with personalized content on the mobile platform, today announced the appointment of Mr. Zhenyu (Vincent) Jiang as chief financial officer of the Company, effective immediately. 

Mr. Sheng Fu, Cheetah Mobile's Chief Executive Officer, stated, "We are thrilled to welcome Vincent Jiang to our senior management team at Cheetah Mobile. Vincent has more than ten years of experience in financial management, corporate finance, mergers and acquisitions, and regulatory compliance. He has worked in China's TMT sector for years and has a proven track record of leading finance functions. We look forward to drawing upon Vincent's vast strategic and financial expertise as we remain focused on connecting our over 600 million global mobile MAUs with more personalized and richer content by capitalizing on the emerging artificial intelligence technologies."

Mr. Vincent Jiang, Cheetah Mobile's Chief Financial Officer, commented, "I am honored to be appointed as the chief financial officer of Cheetah Mobile, one of the fastest-growing mobile companies in the world. I look forward to working closely with Sheng Fu and the team as we continue to execute our mobile content strategy to drive future growth."

Mr. Vincent Jiang joins Cheetah Mobile from a start-up tech company, where he served as the founder and chief executive officer. From 2014 to 2015, Mr. Jiang served as the chief financial officer of 9F Inc., a leading internet finance company. From 2007 to 2014, Mr. Jiang was an attorney at Skadden, Arps, Slate, Meagher & Flom LLP. Mr. Jiang has been a CFA charterholder since 2013. He received his juris doctor degree from Cornell Law School in 2008, his master's degree in mechanical engineering from the Pennsylvania State University in 1999, and his master's and bachelor's degrees in automotive engineering from Tsinghua University in 1998 and 1995, respectively.

BEIJING, Feb. 13, 2017 /PRNewswire/ -- Cheetah Mobile Inc. (CMCM) ("Cheetah Mobile" or the "Company"), a leading mobile internet company that aims to provide leading apps for mobile users worldwide and connect users with personalized content on the mobile platform, today announced that Kingsoft Corporation Limited, its controlling shareholder, has entered into a voting proxy agreement dated February 12, 2017 with Sheng Fu, chief executive officer and director of Cheetah Mobile ("Mr. Fu"), delegating approximately 37.81% voting rights (based on the current share capital) of Cheetah Mobile to Mr. Fu. The effectiveness of the agreement is subject to Kingsoft's shareholder approval and signing of a definitive agreement between Mr. Fu and Cheetah Mobile in relation to a potential transfer of Mr. Fu's interest in certain robotics business to Cheetah Mobile (subject to approval of Cheetah Mobile's audit committee and board of directors).

As of the date of this announcement, Kingsoft holds approximately 62.84% voting rights and 47.15% equity interest of Cheetah Mobile. Upon effectiveness of the voting proxy agreement, assuming that there has not been any other change in the shareholding structure of Cheetah Mobile, Kingsoft will hold approximately 25.03% voting rights of Cheetah Mobile.

Mr. Fu, as Cheetah Mobile's chief executive officer, stated, "as the largest shareholder of Cheetah Mobile, Kingsoft has delegated greater authority and autonomy to Cheetah Mobile's management team. With this agreement, we will have greater flexibility and ability to more efficiently execute our content and A.I. strategy, creating a win-win situation for our users, employees and shareholders. I am confident that with our focus, determination and everlasting entrepreneurial spirit, Cheetah Mobile will become a world-class company and create significant value for all its shareholders."

The voting proxy agreement also provides for additional rights and obligations of Kingsoft and Mr. Fu, including, among other things, (i) prohibitions on Mr. Fu from participation or investment in any businesses competing with the principal businesses of Cheetah Mobile and Kingsoft, (ii) Mr. Fu's obligation to use best efforts to retain the core management team of Cheetah Mobile, (iii) Kingsoft's right to revoke the voting proxy in the event that Mr. Fu breaches the aforementioned undertakings, and (iv) agreement to increase the size and change the composition of Cheetah Mobile's current nine-member board of directors, such that there will be 11 directors, including three directors from Cheetah Mobile's management, one director designated by Kingsoft, one director designated by Tencent Holdings Limited ("Tencent"), a major beneficial shareholder of Cheetah Mobile, and six independent directors.   

To the Company's knowledge, Mr. Fu intends to separately enter into a voting proxy agreement with Tencent, pursuant to which Tencent will delegate to Mr. Fu approximately 4.5% voting rights of Cheetah Mobile (based on Cheetah Mobile's current share capital), representing a portion of its voting right of class B ordinary shares of Cheetah Mobile, subject to (i) prohibitions on Mr. Fu from participation or investment in any businesses competing with Cheetah Mobile's principal businesses, (ii) Mr. Fu's obligation to use best efforts to retain the core management team of Cheetah Mobile.

Second Quarter 2016 Financial Results

• Total revenues increased by 18.1% year-over-year to RMB1,046.7 million (US$157.5 million), exceeding the Company's previous guidance of RMB975 million to RMB1,000 million.
• Diluted losses per ADS in the second quarter of 2016 was RMB1.08 (US$0.16), as compared with diluted earnings per ADS of RMB0.42 in the prior year period.

Mr. Sheng Fu, Cheetah Mobile's Chief Executive Officer, stated, "We are pleased that the initiatives we have implemented to rejuvenate sustainable growth for our company are starting to bear fruit. In the second quarter of 2016, we achieved better-than-expected total revenue growth. We expect revenues to resume its sequential growth trends in the second half of 2016, primarily driven by steady and sustained revenue growth generated by our existing utility apps. Additionally, we further expanded our content-driven product portfolio to include news service, short video, live streaming and casual gaming. Most notably, two of our content-driven products, News Republic and Live.me, demonstrated strong performance over the past quarter, particularly in the U.S. market. According to App Annie's July data, News Republic, our newly acquired global mobile news service operator with thousands of high-profile media partners worldwide, was ranked as one of the top 3 news & magazine apps in the U.S. on Google Play. Live.me, a live streaming app, was ranked as one of the top 5 social apps in the U.S. on Google Play in July and was ranked as one of the top 10 social networking apps in the U.S. on Apple App Store in early August. While we don't want to downplay the challenges we face in our transformation from a utility app based mobile company to a content-driven mobile company, our initial success proves that we are on the right track and is progressing according to plans. Going forward, we will continue to leverage our over 600 million mobile MAUs to support our content strategy, deliver more personalized and relevant content to our users, and build Cheetah into one of the world's leading mobile Internet companies."

Mr. Andy Yeung, Cheetah Mobile's Chief Financial Officer, commented, "Our total revenues this quarter increased to RMB1,047 million, which well exceeded our guidance and was primarily driven by the success of our strategies to rejuvenate revenue growth in 2016, including plans to refresh our app products and ad layouts as well as improve our direct sales programs. On the cost side, we have also implemented stricter controls and more efficient management of our product promotion strategies. We expect these initiatives to continue to help sustain our growth and improve our financial recovery in the coming quarters. Looking ahead, we remain focused on aggressively executing on our content strategy to establish a sustainable and profitable growth model for the long term. We are confident that by doing so, we will be well positioned to grow our business and deliver additional value to all of our shareholders."

Business Outlook

For the third quarter of 2016, the Company expects its total revenues to be between RMB1,100 million (US$166 million) and RMB1,150 million (US$173 million), representing an estimated year-over-year growth of 7% to 12%, and quarter-over-quarter growth of 5% to 10%. This estimate represents management's preliminary view as of the date of this release, which is subject to change and any change could be material.

Conference Call Information

First Quarter 2016 Financial Results

• Total revenues were RMB1,115.0 million (US$172.9 million). Excluding the Kingsoft Japan consolidation impact, total revenues were RMB1,096.0 million (US$170.0 million), representing a 63.0% year-over-year increase.
• Non-GAAP diluted earnings per ADS in the first quarter of 2016 increased by 31.5% to RMB0.71 (US$0.11) from RMB0.54 in the prior year period.

Mr. Sheng Fu, Cheetah Mobile's Chief Executive Officer, stated, "We have begun 2016 on a solid note with revenues coming in at the high-end of our guidance.  But, contrary to our previous expectation of a seasonal rebound, revenues have not grown as anticipated in the early part of the second quarter.  Our analysis suggests that there are three key reasons for the weakness in our expected mobile revenues growth, which is a key driver of our overall growth: 1) a decline in eCPMs from some of our third-party advertising platform partners in the international markets; 2) slower than expected progress in expanding our direct sales force; and 3) longer than expected time for us to execute our content product strategy.  To address these problems, we have implemented several initiatives, including continued product promotion in key developed markets as well as renewed focus on new product launches.  Additionally, we have begun implementing a two-pronged approach to boost our long-term growth prospects.  These efforts include actively investing in new content products to increase user engagement, as well as strengthening our direct sales operations globally to diversify our customer base and to capture a bigger share of the fast-growing brand advertising business.  For example, we recently hired Todd Miller, a former vice president at Yahoo, as our global sales vice president. While recognizing the challenges that lay ahead, I am confident that, with focus and determination, we will be able to rejuvenate our company for sustainable and profitable growth as one of the world's leading mobile Internet companies.

Mr. Andy Yeung, Cheetah Mobile's Chief Financial Officer, commented, "Driven by our solid mobile and overseas performance, we continued to make progress both operationally and financially in the first quarter of 2016. For 2016, we have a very clear strategy to reaccelerate revenue growth. While our content products and direct sales initiatives are beginning to take hold, it will take more time for these initiatives to show meaningful results.  However, over the years, we have successfully evolved our operational direction and strategy to address the rapid changes in the internet space.    With that in mind, we remain confident that our business strategy is on the right track and we will continue to aggressively execute that strategy, managing user acquisition, user engagement, revenue growth and profitability for the long-term sustainable growth."

Business Outlook

For the second quarter of 2016, the Company expects and estimates its total revenues to be between RMB975 million (US$151 million) and RMB1,000 million (US$155 million), representing an estimated year-over-year growth of 10% to 13%. This estimate represents the management's preliminary view as of the date of this release, which is subject to change and any change could be material.

BEIJING, April 27, 2016 /PRNewswire/ -- Cheetah Mobile, the world's leading mobile utility and security app developer, hosted Cheetah Connect Summit, a mobile industry conference that aims to form an open communication platform for app developers around the world, and revealed two new initiatives: a data-driven content strategy that will start with Toupai, a short video service designed for online influencers and fans, and a new Cheetah Robotics R&D and investment venture.

"Our 2016 strategy is very clear," said Cheetah Mobile CEO Sheng Fu. "We'll use our utility products as the entry point for mobile users, then add content products to build a platform, increasing the engagement of our users. At the same time, we'll use Cheetah Mobile's big data analytics to create a strategic high-ground advantage to better serve both our users and advertisers."

Cheetah Mobile's new three-year plan will capitalize on the global content opportunities that have arisen from the mobile internet. With a foundation of more than 635 million monthly active users, Cheetah Mobile's big data platform will power new forms of intelligent content discovery.

The first of these is Toupai, a next-generation social video service which helps fans find their top idols, and online celebrities find their #1 fans. Toupai, which you can preview today at http://v.cmcm.com/, will focus first on the Chinese market with an official launch event on May 20th. Toupai is backed by PurpleCow Startup Fund, which will provide entrepreneurship advice to its communities of online influencers.

Alongside Cheetah Mobile's new content efforts, the company also announced a major investment into the exciting field of robotics. Cheetah Robotics will invest $50 million into deep learning and artificial intelligence R&D. Cheetah Mobile CEO Sheng Fu, who is personally investing in the venture, views the field of robotics as the ultimate evolution of the mobile tools category that Cheetah Mobile leads.

This rapid growth of the mobile internet industry around the world sets the backdrop for Cheetah Connect Summit, taking place on April 27 in Beijing. Providing a top-down view of the mobile app industry, the summit hosted more than 1,000 app developers and mobile industry executives, with more than 100 media in attendance, including 20+ overseas media from the United States, India, Korea, and Taiwan. The event includes an impressive speaker roster including "Sapiens: A Brief History of Mankind" author Yuval Noah Harari; Oculus VR co-founder and global virtual reality leader Jack McCauley, PurpleCow Startup Fund partner Quanling Zhang, Inke CEO Yousheng Feng, Cheetah Mobile CEO Sheng Fu; and many others.

Also, at the summit, Cheetah Global Lab joined with App Insight to issue the "Global App Development Report," examining global app industry trends across multiple dimensions, including countries, industries, and publishers. Cheetah Global Lab combined Cheetah Mobile's big data insights and editorial recommendations to award the top 50 fastest growing and most innovative apps so far in 2016.

Cheetah Mobile Senior Vice President and Cheetah Global Lab Dean Jie Xiao announced the company's new App Insight product, "The 'Global App Development Report' provides extremely useful guidance for app developers looking to head overseas. For instance, which opportunities are left in developed markets like Japan, Korea, Europe, and the US? How did China's social video apps grow so quickly? Which types of apps do users from emerging markets like India and Russia use the most? The report answers each of these questions."

Throughout 2015, Cheetah Mobile made substantial progress in growing its international user base and monetizing its products. In the fourth quarter of 2015, Cheetah Mobile brought in $174.9 million in revenue, growing overseas revenue by over 343%. The company's monthly active users topped 635 million in the fourth quarter, with over 78% coming from outside of China.

Cheetah Mobile President Ming Xu said, "Setting an example for other mobile companies going overseas, Cheetah Mobile hopes that the Cheetah Connect Summit brings together the leading scholars, entrepreneurs, investors, and global app developers to share our experiences and observations from the global market."

SAN FRANCISCO, Calif., March 9, 2016 /PRNewswire/ -- Cheetah Mobile Inc. (CMCM), the leading developer of mission-critical mobile utility and security applications, today announced the launch of its new and reimagined Android launcher, CM Launcher 3D, which is packed with vibrant screen transitions and an advanced 3D animation engine.

CM Launcher 3D replaces the default Android system launcher and brings users updated themes, screen transitions, design, and optimizations across the phone to make it feel like a brand new device. CM Launcher 3D includes privacy functions like quick access to hidden apps, added security for basic virus and SMS vulnerability detection, smart app sorting for increased productivity, and speed and battery improvements.

What really separates CM Launcher 3D from other Android launchers is its ability to bring smooth 3D visualizations and animation effects to a wide range of Android devices, without compromising a phone's performance.

The magic all happens behind the scenes. While Android's graphic APIs provide developers with resources to design basic animations and transitions, more complicated 3D animations take a lot more work to implement.

CM Launcher 3D works on a whole different level by using a 3D engine which recreates all graphic control elements and utilizes an in-house animation effect library. The 3D engine uses OpenGL to render the required animations and optimize all processes from the basic layer in the system. But, CM Launcher also reduces the frequency in applying rendering commands so it doesn't burden the system. This allows the visual effects to remain responsive and delightful.

SAN FRANCISCO, March 1, 2016 /PRNewswire/ -- Cheetah Mobile Inc. (CMCM), the leading developer of mission-critical mobile utility and security applications, today announced the creation of SecureBase, a shared security database for researchers, at RSA Conference in San Francisco. SecureBase members will gain access to real-time data on the latest mobile threats around the globe, such as malicious advertising and stubborn trojans.

SecureBase arose from Cheetah Mobile's desire to increase collaboration in the mobile security industry and ensure a safer future for mobile users and their devices. The database will serve as a comprehensive security knowledge center offering data visualization and up-to-date statistics, drawing from Cheetah Mobile's nearly 2 billion app installations.

"With SecureBase, Cheetah Mobile is leveraging its years of commitment to data-driven mobile security," said Ming Xu, President of Cheetah Mobile. "We're extremely focused on making the mobile experience safer for users. Sharing our data and insights with the industry is an important next step for us."

"Mobile security has reached an important turning point," said Yong Chen, Senior Vice President of Cheetah Mobile. "Last year, Cheetah Mobile detected over 9.5 million mobile viruses, three times as many as in 2014. In order to protect users from these perpetual attacks, the mobile security industry needs to join forces and work together. We created SecureBase to build bridges to our fellow security researchers."

Trustlook, the maker of the popular Trustlook Mobile Security & Antivirus app for Android devices, has signed on as a launch partner for SecureBase.

"We are very excited to join Cheetah Mobile as the first enterprise partner for SecureBase," said Allan Zhang, CEO of Trustlook. "Our collaboration on mobile threat research will help to better protect each of our customers."

LONDON, Feb. 23, 2016 /PRNewswire/ -- Cheetah Mobile, maker of Clean Master and other popular mobile utility apps, has teamed up with CUBOT to launch CheetahPhone, its first branded mobile device.

Powered by Clean Master software, the sleek and powerful phone lasts up to 38% longer on a single charge compared to other phones running stock Android (5.1.1).

The CheetahPhone will be unveiled at Cheetah Mobile's Mobile World Congress booth (Hall 8, E9) on Tuesday, February 23rd between 16:00-17:00 (local time). It will be available to purchase on Amazon for EUR199, in all European Union countries in the coming months.

Specifications

Cheetah Mobile's Clean Master app cleans junk files, optimizes the device's memory, manages installed apps, and provides complete protection against viruses to improve performance and increase battery life.

Inside the high-end device is an ARM 64-bit octa-core CPU (1.5GHz), 3GB of RAM, and 32GB of storage to handle all kinds of apps and rapid multitasking.

The phone measures 149 x 74.9 x 7.95 mm and comes in gold, rose gold, and space grey.

Other hardware features include: a 1920 x 1080 full HD screen for a crystal-clear picture, and a 13MP rear Samsung camera and 8MP front selfie camera for razor-sharp photos.

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A fast fingerprint-recognition sensor is integrated into the rear of the device for secure, instantaneous unlocking.

The CheetahPhone packs a punch with the latest Android 6.0 Marshmallow operating system, 10GB of free and permanent cloud storage, CUBOT's personalized launcher, and CUBOT Gallery with Wi-Fi Transfer for quick image transfers between phones. It also comes pre-loaded with 50 exclusive Cheetah Phone HD wallpapers and themes.

"Cheetah Mobile's mission is to make the mobile experience speedier, safer, and simpler and CheetahPhone stays true to that," said Cheetah Mobile CEO Sheng Fu. "It's a pleasure to partner with CUBOT to make the CheetahPhone a reality and give users another option for their phone to move as fast as they do."

CUBOT's vice president, Richard Meng said, "Cheetah Mobile's software is known the world over for its ability to transform the performance of smartphones. By joining forces we've produced a Cheetah device that's optimized for beauty, speed, and endurance to create a sublime user experience

SAN FRANCISCO, Feb. 17, 2016 /PRNewswire/ -- Cheetah Mobile Inc., the world's leading mobile security and utility app developer, today named Charles Fan as its new Chief Technology Officer. Charles will lead the global R&D activities for the company. Based out of Silicon Valley, Charles will also lead the creation of a major presence of Cheetah Mobile in the U.S. Cheetah Mobile has a goal of growing the Silicon Valley office into its second worldwide headquarters alongside Beijing.

Charles joins Cheetah Mobile from VMware, a leading cloud computing company, where he served as Senior Vice President leading its storage and big data businesses. Charles was also the founder of VMware and EMC's China R&D Centers and grew them from 0 to over 1,000 engineers within three years. Charles started his career as an entrepreneur, co-founding file virtualization startup Rainfinity, which was acquired by EMC in 2005. Charles is an expert in distributed systems, cloud infrastructure and big data, holding a Ph.D. and M.S. in Electrical Engineering from the California Institute of Technology and a B.E. in Electrical Engineering from Cooper Union.

A successful big data strategy is key to Cheetah Mobile's next stage of growth. Cheetah Mobile will establish a major R&D Center in Silicon Valley, to work alongside engineers at other R&D Centers to execute the big data strategy. This will allow Cheetah Mobile to better attract worldwide talent and serve its more than 567 million mobile monthly active users, 74% of which are outside of China. Cheetah Mobile currently employs more than 1,400 R&D personnel around the globe.

"I'm thrilled to join one of the fastest-growing mobile companies in the world," said Cheetah Mobile CTO Charles Fan. "Cheetah Mobile has succeeded at achieving a truly global footprint, and I'm excited to lead its technology team as it continues its mission of making the mobile experience speedier, simpler, and safer."

Cheetah Mobile President and former CTO Ming Xu is handing over the CTO role to Charles in order to focus more on overall management of the company.

"We're delighted to welcome Charles to the Cheetah Mobile family," said Ming Xu, President of Cheetah Mobile. "I know our big data and R&D are in very capable hands. I'm looking forward to going deeper with Cheetah Mobile's management and product operations."

"Combining proven leadership and a deep insight into technology, Charles is the perfect person to lead our technology team, and to take our U.S. presence to the next level," said Sheng Fu, CEO of Cheetah Mobile. "China and the U.S. are the two centers of the mobile Internet industry today. As one of the most successful companies to develop business abroad in China's mobile internet industry, Cheetah Mobile will ramp up our investments in both centers, especially the U.S. market, to connect the global markets, as well as to deliver innovations to our users around the world."

Cheetah Mobile first established its U.S. operations in early 2014. At present, the company has roughly 50 employees based in the US, across three offices in San Francisco, Silicon Valley, and New York. The company expects to significantly expand its U.S. operations and hiring over the next two years.

BEIJING, Jan. 22, 2016 /PRNewswire/ -- Cheetah Mobile Inc. (CMCM) ("Cheetah Mobile" or the "Company"), a leading mobile internet company that provides mission critical applications to help make the internet and mobile experience speedier, simpler, and safer for users worldwide, today announced that Moxiu Technology (Beijing) Co., Ltd. ("Moxiu"), a subsidiary of the Company, filed an application for the quotation of its shares on the National Equities Exchange and Quotations System (the "NEEQ") in China on January 22, 2016. The NEEQ is commonly known as the New Third Board of the PRC, and is a unified national system that typically provides a trading platform for off market transfer of non-listed public shares by subscribing members of the NEEQ.

As of the date of this announcement, the Company directly holds approximately a 52.1% equity interest in Moxiu. The Company currently has no intention to effect any sale of its existing shares in Moxiu, nor will Moxiu issue any new shares as part of or immediately following the quotation. In the event that Moxiu is able to effect the proposed quotation on the NEEQ, immediately following such quotation on NEEQ, the Company will continue to hold approximately a 52.1% equity interest in Moxiu and consolidate the financial results of Moxiu.

There is no assurance that the proposed quotation will take place in a timely manner or at all. The proposed quotation is subject to, among other things, market and business conditions as well as approvals by the National Equities Exchange and Quotations Co. Ltd. and the Stock Exchange of Hong Kong Limited, to which Kingsoft Corporation Limited, the controlling shareholder of the Company, has submitted a spin-off application pursuant to applicable rules.

Mr. Sheng Fu, Cheetah Mobile's Chief Executive Officer, stated, "We are very pleased with Moxiu's achievements, especially relating to its strong innovation capabilities, mobile technology and product offering. We firmly believe that the proposed quotation of Moxiu's shares on the NEEQ will not only provide Moxiu with new, low-cost and diversified sources for funding, but also elevate its brand and facilitate it's evolution into a modern public enterprise with a strong management structure and system of corporate governance." 

BEIJING, Dec. 30, 2015 /PRNewswire/ -- Cheetah Mobile Inc. (CMCM) ("Cheetah Mobile" or the "Company"), a leading mobile internet company that provides mission critical applications to help make the internet and mobile experience speedier, simpler, and safer for users worldwide, today announced it has entered into a new strategic cooperation agreement with Shenzhen Tencent Computer Systems Company Limited ("Tencent Shenzhen"), a subsidiary of Tencent Holdings Limited ("Tencent"), for the two-year period from January 1, 2016 until December 31, 2017.

Under the terms of the new agreement, Cheetah Mobile and Tencent will continue to provide promotion services for each other. The table below sets out the actual transaction amounts of the promotion services provided by each party to the other party for the year ended December 31, 2014 and the eleven months ended November 30, 2015. The table also sets forth the proposed annual caps respectively under the new agreement for 2016 and 2017.

		Proposed annual caps
	For the year ended December 31, 2014	For the eleven months ended November 30, 2015	For the year ending December 31,
			2016	2017
				RMB ' million
Total revenue from Tencent to Cheetah Mobile for provision of promotion services	78.4	272.5	495	587
Fees payable by Cheetah Mobile to Tencent for provision of promotion services	0	42.7	30

Mr. Sheng Fu, Cheetah Mobile's Chief Executive Officer, stated, "We are delighted to continue our strong partnership with Tencent, one of the world's leading companies in the Internet and mobile technology space. The demand from advertisers for our mobile advertising services on the GDT ad platform continues to grow, which helps us further extend our advertiser reach and monetization capabilities in the domestic market. Furthermore, by leveraging Tencent's tremendous user base and traffic from its various products and platforms, we are able to further grow Cheetah's market share, brand recognition and mobile user base in China, each of which are key components of the Company's global strategy. Looking forward, we will continue to work closely with our partners, to build one of the best mobile advertising platforms for advertisers globally."

BEIJING, Nov. 5, 2015 /PRNewswire/ -- Cheetah Mobile Inc. (CMCM) ("Cheetah Mobile" or the "Company"), a leading mobile internet company that provides mission critical applications to help make the internet and mobile experience speedier, simpler, and safer for users worldwide, today announced it has entered into a supplemental agreement with Shenzhen Tencent Computer Systems Company Limited ("Tencent Shenzhen"), a subsidiary of Tencent Holdings Limited ("Tencent"), which increases the annual cap for promotional services fees payable by Tencent and its subsidiaries and associates to Cheetah Mobile for the year ending  December 31, 2015.

For the first nine months of 2015, the historical transaction amount for the promotion services fees payable by Tencent to Cheetah Mobile was RMB211 million.  As demand for Cheetah Mobile's mobile advertising services on the Tencent Guang Dian Tong ("GDT") advertising platform continues to grow, it is expected that the promotion service fees payable by Tencent to Cheetah Mobile will increase accordingly. Under the new supplemental agreement, the annual cap for the year ending December 31, 2015 has further increased from RMB250 million to RMB340 million. Aside from the aforementioned revision, all existing terms and conditions under the original Strategic Cooperation Agreement (as described in "Background Information" below) remain unchanged.

The Company has confirmed that, up to the date of this announcement, the transaction amount for the promotion services fees payable by Tencent to Cheetah Mobile has not exceeded the annual cap for the year ending 31 December 2015, i.e., RMB250 million.

Mr. Sheng Fu, Cheetah Mobile's Chief Executive Officer, stated, "We are delighted to see our strong partnership with Tencent further expand, especially the growing demand for our mobile advertising services on the GDT ad platform.   Our partnership with GDT has helped us extend our advertiser reach and monetization capabilities in China by allowing advertisers to place their ads on our mobile apps through GDT's ad platform. It is truly a win-win situation for advertisers, GDT and Cheetah Mobile. Looking ahead, we remain committed to working with our partners worldwide and delivering some of the best mobile ad solutions available to advertisers. We are confident that our large and growing global user base will benefit our partners and advertisers, while enabling us to become a leading global mobile advertising platform."

Background Information

On December 27, 2013, Cheetah Mobile and Tencent Shenzhen initially entered into a Strategic Cooperation Agreement, which was amended on July 31, 2014, January 30, 2015 and June 30, 2015. Pursuant to the agreement, Cheetah Mobile would, through its PC and mobile products and platforms (including licensed products and platforms), provide various forms of promotional services to Tencent for various types of products. Under the amendment on June 30, 2015, the annual caps with respect to the fees payable by Tencent to Cheetah for the years ending 2015 were increased to RMB 250 million.

BEIJING, Nov. 5, 2015 /PRNewswire/ -- Cheetah Mobile Inc. (CMCM) ("Cheetah Mobile" or the "Company"), a leading mobile internet company that provides mission critical applications to help make the internet and mobile experience speedier, simpler, and safer for users worldwide, today announced it has entered into a supplemental agreement with Shenzhen Tencent Computer Systems Company Limited ("Tencent Shenzhen"), a subsidiary of Tencent Holdings Limited ("Tencent"), which increases the annual cap for promotional services fees payable by Tencent and its subsidiaries and associates to Cheetah Mobile for the year ending  December 31, 2015.

For the first nine months of 2015, the historical transaction amount for the promotion services fees payable by Tencent to Cheetah Mobile was RMB211 million.  As demand for Cheetah Mobile's mobile advertising services on the Tencent Guang Dian Tong ("GDT") advertising platform continues to grow, it is expected that the promotion service fees payable by Tencent to Cheetah Mobile will increase accordingly. Under the new supplemental agreement, the annual cap for the year ending December 31, 2015 has further increased from RMB250 million to RMB340 million. Aside from the aforementioned revision, all existing terms and conditions under the original Strategic Cooperation Agreement (as described in "Background Information" below) remain unchanged.

The Company has confirmed that, up to the date of this announcement, the transaction amount for the promotion services fees payable by Tencent to Cheetah Mobile has not exceeded the annual cap for the year ending 31 December 2015, i.e., RMB250 million.

Mr. Sheng Fu, Cheetah Mobile's Chief Executive Officer, stated, "We are delighted to see our strong partnership with Tencent further expand, especially the growing demand for our mobile advertising services on the GDT ad platform.   Our partnership with GDT has helped us extend our advertiser reach and monetization capabilities in China by allowing advertisers to place their ads on our mobile apps through GDT's ad platform. It is truly a win-win situation for advertisers, GDT and Cheetah Mobile. Looking ahead, we remain committed to working with our partners worldwide and delivering some of the best mobile ad solutions available to advertisers. We are confident that our large and growing global user base will benefit our partners and advertisers, while enabling us to become a leading global mobile advertising platform."

Second Quarter 2015 Financial Results

• Total revenues for the second quarter of 2015 increased by 128.9% to RMB870.5 million (US$140.4 million) from RMB380.3 million in the prior year period.
• Non-GAAP diluted earnings per ADS in the second quarter of 2015 increased to RMB0.81 (US$0.13) from RMB0.49 in the prior year period.

Mr. Sheng Fu, Cheetah Mobile's Chief Executive Officer, stated, "The second quarter was another strong quarter for Cheetah Mobile both financially and operationally. Most importantly, we have achieved our mobile and global transformation goals with overseas revenue improving to 50% of total revenues and mobile revenue increasing to 64% of total revenues. Today, 494 million people use Cheetah apps each month worldwide, with 71% coming from overseas markets, which underpinned our robust financial performance. During the quarter, we also continued to improve our mobile and global monetization capabilities. Mobile revenues surged 634% year-over-year and overseas revenues jumped 1,832% year-over-year, which were driven by a continued ramp-up of our mobile advertising business, especially in the overseas markets. Our mobile and global monetization capabilities have benefited from our strong partnerships with key global Internet giants like Facebook, Google and Tencent. In addition, we launched Cheetah Mobile ad platform in June, further improving our mobile and global monetization capabilities."     

Mr. Andy Yeung, Cheetah Mobile's Chief Financial Officer, commented, "We are pleased to report our second quarter financial results, which well exceeded our expectations. Total revenues grew 129% year-over-year and 30% quarter-over-quarter. Our accelerated growth in total revenues and mobile revenues were driven by faster-than-expected overseas monetization ramp-up. Having begun monetization in overseas markets only a year ago, our overseas revenue now accounts for 50% of total revenues and 77% of mobile revenues. We are delighted by the progress we have achieved in the global mobile Internet market. Looking ahead, we will continue to invest decisively to solidify our leading position as a global traffic platform, while further enhancing our mobile and global monetization capabilities."

Business Outlook

For the third quarter of 2015, the Company expects its estimated total revenues to be between RMB990 million (US$160 million) and RMB1,010 million (US$163 million), representing a year-over-year growth of approximately 107% to 111%. The forecast reflects the Company's current and preliminary view, which is subject to change.

SAN FRANCISCO, Calif., June 15, 2015 /PRNewswire/ -- Cheetah Mobile Inc. (CMCM), the world's leading developer of mission-critical mobile utility applications, today launched the Cheetah Ad Platform, a mobile advertising technology platform that works with the world's leading brand advertisers, publishers and developers to reach and engage with global consumer audiences at scale

Cheetah Mobile's owned and operated mobile applications (Cheetah Apps) and media ad network (Cheetah MediaLink) are united to provide brands with the unique opportunity to reach the right audience, at the right time, in the right format to attract users throughout the purchase cycle. These key pillars of the Cheetah Ad Platform provide massive global reach, while ensuring deep engagement and performance through its innovative ad formats, audience targeting technology and conversion optimization solutions.

"Our goal is to become one of the leading global mobile advertising platforms," said Xinhua Liu, CMO of Cheetah Mobile. "The launch of the Cheetah Ad Platform will rapidly accelerate our progress toward this objective. We look forward to providing our state-of-the-art mobile ad technology to our partners and helping them achieve their goals within the mobile ecosystem." 

As a leading mobile app developer, providing consumers with a speedier, simpler and safer mobile experience, Cheetah Mobile has developed a large, global user base comprised of loyal and engaged consumers. In the first quarter of 2015, its total global mobile installations reached 1.34 billion users and its mobile monthly active users reached over 440 million. In addition, Cheetah Mobile has expanded its media reach through key acquisitions of Zoom Interactive and MobPartner to complement and diversify its mobile network.

"We are building one of the most robust mobile advertising platforms in the world," added Djamel Agaoua, Senior Vice President, Worldwide Sales, of Cheetah Mobile and former CEO of MobPartner. "The Cheetah Ad Platform gives advertisers and publishers full transparency into inventory, ad placements, and performance. Advertisers can broaden their reach with confidence and capitalize on a massive global consumer audience. Our robust measurement, targeting, and optimization solutions are designed to deliver against key performance indicators, such as return on investment and consumer lifetime value for advertisers."

Over the past two years, Cheetah Mobile's revenue growth has been driven by a significant ramp-up in mobile advertising in overseas markets. Mobile advertising revenue accounted for 89% of total mobile revenue and 48% of total revenue in Q1 2015

The Cheetah Ad Platform provides campaign management services and data-fueled audience targeting. It has computed over a billion mobile users' anonymized behavioral traits to construct a sophisticated, dynamic categorization that goes beyond common demographic and psychographic segmentation.

BEIJING, May 28, 2015 /PRNewswire/ -- Today,Cheetah Mobile Inc. (CMCM)  filed a complaint in federal court in Northern District of California (Case No. 3:15-cv-02363) against APUS Group for defamation, trade libel, copyright infringement, federal and state trademark dilution, false advertising, and unfair competition, intentional interference with prospective economic advantage, and intentional interference with contract.  In its complaint, Cheetah Mobile seeks an injunction as well as monetary damages for the harm to its business, reputation, and consumer goodwill, an accounting of APUS' profits from its misconduct, punitive damages, and attorneys' fees and costs.

First Quarter 2015 Financial Results

• Total revenues for the first quarter of 2015 increased by 113.0% to RMB672.5 million (US$108.5 million) from RMB315.7 million in the prior year period.
• Non-GAAP diluted earnings per ADS in the first quarter of 2015 increased to RMB0.54 (US$0.09) from RMB0.28 in the prior year period.

Mr. Sheng Fu, Cheetah Mobile's Chief Executive Officer, stated, "Our mobile business continued to enjoy tremendous momentum during the first quarter 2015. Our mobile MAUs increased by 48 million quarter-over-quarter to 443.6 million in March. Five of our apps were among the top-30 non-game apps on Google Play in March 2015 and Cheetah Mobile remained the top publisher in the tools category on Google Play.  Started only two years ago, our mobile monetization, especially in overseas markets, has already become our main source of revenue and a key growth engine for us. During the quarter, we have further expanded our partnerships with leading mobile advertising networks worldwide and made strategic investments and acquisitions of key mobile advertising assets.  As a result, for the first time in our operating history, mobile revenues accounted for a majority of total revenues, a major milestone towards achieving our mobile and global transformation goals.  As we continue towards our strategic goal to be among the top three global mobile advertising platforms, we will remain relentlessly focused on our users, product innovation and operational excellence."  

Mr. Andy Yeung, Cheetah Mobile's Chief Financial Officer, commented, "Our total revenues this quarter increased 113% year over year, which well exceeded our prior guidance and was driven mainly by the continued ramp-up of our mobile advertising business, especially in overseas markets. Mobile revenues increased 584.1% year over year and now accounts for 55% of total revenues, with overseas revenues contributing 38% of total revenues and 70% of mobile revenues in the quarter. In order to capture the vast global mobile advertising opportunities ahead, we will continue to execute on our strategy to attract more mobile users, further strengthen our capabilities in big data analytics, and improve our mobile advertising technology and platform."

Business Outlook

For the second quarter of 2015, the Company expects its estimated total revenues to be between RMB785 million (US$126.6 million) and RMB795 million (US$128.2 million), representing a year-over-year growth of approximately 106% to 109%. The forecast reflects the Company's current and preliminary view, which is subject to change.

SAN FRANCISCO, April 23, 2015 /PRNewswire/ -- Cheetah Mobile Inc.(NYSE: CMCM, "Cheetah Mobile") today officially announced that it has obtained the worldwide distribution rights on Google Play for popular mobile game Tap Titans. The deal marks another key milestone for Cheetah Mobile's mobile game distribution strategy, following its successful release of Don't Tap The White Tile. The company now has two world renowned flagship mobile games in its portfolio, laying a solid foundation for its global casual game distribution platform.

Tap Titans: App Store recommended, top-ranked in many countries

Since launch, Tap Titans has achieved noteworthy results on the worldwide iOS App Store. It has been ranked top 10 overall and No. 1 among bestsellers. Apple also recommended the game on its App Store homepage. Tap Titans became an instant hit and swept the world almost overnight with an exceptionally high 59% day 2 retention rate. Though it's simple to play, the unique game mechanics have captivated users with their strong replay value.

Despite the simple gameplay, Tap Titans has been considered a fun way to test your finger skills because players need to constantly tap the screen to kill all the "Titans." Players earn coins to recruit helpers or upgrade the attack power of each tap. While it's not difficult to kill a Titan under normal circumstances, the gameplay has endless appeal. With many types of Titans and scenes, Tap Titans succeeds at keeping users engaged for extended sessions. Game Hive continue to add in content to keep players coming back to the game. Since launch, Tap Titans has added customization, tournament, and weapon systems.

Tap Titans is developed by Game Hive Corp, a company founded in 2009 that has 15 team members. Titles created by Game Hive have reached more than 100 countries and 15 languages. Some of Game Hive's key franchises include Beat The Boss, Battle Run and Antrim Escape. Tap Titans achieved great success globally on the iOS market with basically no promotion and localization, so it has already proved its superior quality. Now that Cheetah Mobile has obtained Tap Titans' worldwide distribution rights for Google Play, the company will utilize its top ranked Android Tools apps and extensive overseas user base to accelerate global distribution. The partnership is expected to join Don't Tap The White Tile in becoming another successful example of Cheetah Mobile's industry-leading worldwide mobile game distribution capabilities.

BEIJING, April 6, 2015 /PRNewswire/ -- Cheetah Mobile Inc. (CMCM) ("Cheetah Mobile" or the "Company"), a leading mobile Internet company that provides mission critical applications to help make the Internet and mobile experience speedier, simpler, and safer for users worldwide, today announced that it has signed a commercial agreement with Nanigans, Inc. ("Nanigans"), a leading worldwide provider of social and mobile advertising software and pioneer in advertising automation software. The commercial agreement comes in conjunction with Cheetah Mobile's recent strategic investment as the lead investor in Nanigans US$24 million Series B financing.

Pursuant to the commercial agreement between Cheetah Mobile and Nanigans, Cheetah Mobile will be the exclusive partner of Nanigans in the Greater China region to manage campaigns for advertisers using Nanigans advertising automation software. In addition, Nanigans will be the exclusive third-party advertising automation software provider used by Cheetah Mobile for advertising spend in certain social and mobile apps, until the end of the term of the commercial agreement. Furthermore, Nanigans currently plans to integrate Cheetah Mobile's advertising inventory onto the Nanigans platform, and the two companies will cooperate on co-marketing activities.

Mr. Sheng Fu, Chief Executive Officer of Cheetah Mobile, stated, "We are pleased to announce this business partnership with Nanigans. Nanigans plays an important role in the social and mobile advertising ecosystem, as evidenced by its strong customer base. Investing in Nanigans advertising automation software is a significant step for us, as we actively build up our advertising platform and enhance our capabilities globally. We look forward to this deeper cooperation with the Nanigans team and we are confident in our ability to create the world's first-class tools for advertisers and publishers."

Ric Calvillo, co-founder and CEO of Nanigans, stated, "Asia Pacific is the second largest digital ad market worldwide, with China representing more than half of the region's spend, according to eMarketer.^* Cheetah Mobile, a leading mobile Internet company in the region, shares Nanigans' commitment to developing best-in-class technology and delivering true value to advertisers worldwide. We look forward to this strategic partnership and using our collective social and mobile expertise to enable more advertisers in Greater China to benefit from our software."

Cheetah Mobile has been rapidly expanding its advertising efforts to complement its industry-leading user base of more than 395 million mobile monthly active users. The Company recently announced that it reached a definitive agreement to acquire global mobile advertising network MobPartner. Cheetah Mobile's partnership with and investment in Nanigans will accelerate the Company's expansion efforts by unlocking the Chinese market for Nanigans, improving advertising campaigns across social and mobile channels, and opening up Cheetah Mobile's existing inventory to Nanigans' influential customer base.

Fourth Quarter 2014 Financial Results

• Total revenues increased by 118.8% year-over-year and 23.0% quarter-over-quarter to RMB588.9 million (US$94.9 million)
• Non-GAAP diluted earnings per ADS⁵ in the fourth quarter of 2014 increased to RMB0.59 (US$0.10) from RMB0.29 in the prior year period.

Mr. Sheng Fu, Cheetah Mobile's Chief Executive Officer, stated, "2014 was a break-through year for our mobile and global businesses and we finished on a high note with our mobile monthly active users quickly approaching the impressive 400 million users mark. Led by the success of Clean Master, we have built a strong product matrix of mobile apps in 2014 with four of our apps each accumulating more than 100 million downloads on Google Play. According to App Annie, Cheetah Mobile was the No. 2 publisher for non-game apps globally on Google Play, and the No. 1 publisher in the tools category for December 2014. This success helped drive mobile revenues to increase more than six times year over year and nearly double quarter over quarter in the fourth quarter, demonstrating our significant progress in mobile monetization. In addition, since we began our overseas monetization efforts in the second quarter of 2014, our overseas revenues have increased significantly and now account for 24% of our total revenues and 63% of mobile revenues in the fourth quarter. Given these strong secular trends, mobile will remain the key growth driver for our company and will account for more than 50% of total revenues by the end of the first half 2015. Additionally, our acquisition of MobPartner, when completed, will further enhance our global mobile monetization capabilities and expand our advertising footprint globally. Going forward, we remain focused on building one of the world's leading mobile advertising platforms."

Mr. Andy Yeung, Cheetah Mobile's Chief Financial Officer, commented, "Robust mobile performance again drove our strong topline growth this quarter. Total revenues grew 119% year-over-year and 23% quarter-over-quarter to RMB588.9 million, exceeding the high end of our previous guidance. The strong ramp-up in our mobile revenues, particularly in overseas markets, clearly validates our investments in the mobile and global arenas. In 2015, we will continue to invest aggressively in our mobile business and strengthen our foundation for continued success in this rapidly developing market.

Business Outlook

For the first quarter of 2015, the Company expects its total estimated revenues to be between RMB640 million (US$103 million) andRMB650 million (US$105 million), representing a year-over-year growth of approximately 103% to 106%. The forecast reflects the Company's current and preliminary view, which is subject to change.

BEIJING, March 16, 2015 /PRNewswire/ --  Cheetah Mobile Inc. (CMCM) ("Cheetah Mobile" or the "Company"), a leading mobile Internet company that provides mission critical applications to help make the Internet and mobile experience speedier, simpler, and safer for users worldwide, today announced that it has reached a definitive agreement to acquire the entire equity interest in MobPartner, a global mobile advertising company, for a total consideration of approximately $58 million, subject to closing and other adjustments, payable in cash and stock. The transaction is subject to customary closing conditions.

"Our mission is to provide the best apps for mobile users globally as well as the best mobile advertising solutions for advertisers and publishers worldwide. Over the past three years, we have delivered the best mission critical apps to mobile users, significantly improving their mobile experiences. Today, more than 340 million people use our apps worldwide on a monthly basis. While we have also made significant progress in building a global mobile advertising platform, we are only getting started," said Sheng Fu, Chief Executive Officer of Cheetah Mobile. "The acquisition of MobPartner will further enhance Cheetah Mobile's expertise in mobile advertising and together we will be building one of the world's leading mobile advertising platforms."

MobPartner offers innovative performance-based mobile marketing products for advertisers and monetization solutions with higher eCPM for publishers. Working with more than 1,500 campaigns in 200 countries and more than 10,000 publishers worldwide, MobPartner has built a leading mobile marketing company, reaching more than 200 million mobile users and delivering more than 18 billion impressions per month. 

"We are impressed by MobPartner's entrepreneurial spirit and passion, and are excited to be working with them to build the best global mobile advertising platform," stated Sheng Fu, Chief Executive Officer of Cheetah Mobile. "By combining MobPartner's worldwide advertiser resources, leading mobile advertising technology, and expertise in the overseas mobile advertising market with Cheetah Mobile's large and growing mobile audience, we will be able to provide better mobile advertising solutions around the globe. We believe this partnership will create enhanced value for our users, advertisers and publishers, and accelerate our global mobile monetization efforts."

"We've long admired Cheetah Mobile as a trusted global partner," stated Djamel Agaoua, the CEO of MobPartner. "A large reason for Cheetah Mobile's success lies in their high quality products that are able to compete on a global scale, with 65% of their users coming from outside of China. Their top-tier products are developed and refined due to the intense competition present in China's cutthroat mobile Internet market."

Agaoua added, "We also share a common vision on how to maximize mobile advertising return on investment around the world and therefore this deal became a natural evolution and extension of our business. Cheetah Mobile enables us to strategically accelerate our growth by increasing both our traffic and product offerings. In addition, MobPartner enables Cheetah Mobile to accelerate its international expansion strategy."

Upon completion of the proposed acquisition, MobPartner will become a wholly owned subsidiary of Cheetah Mobile, and Djamel Agaoua will continue to lead MobPartner as CEO and take on the role of Senior Vice President at Cheetah Mobile

BARCELONA, Spain, March 2, 2015 /PRNewswire/ -- Cheetah Mobile Inc. (NYSE: CMCM, "Cheetah Mobile"), the world's top developer of mobile utility apps, today announced a partnership with Samsung to enable a best-in-class mobile experience for millions of Galaxy users around the world. As the first step in their cooperation, innovative features from Cheetah Mobile's top-rated security application Clean Master have been embedded in Samsung's new flagship Galaxy S6 and Galaxy S6 edge smartphones to provide custom "Powered by Clean Master" junk-file cleanup.

"We're thrilled to join forces with Samsung to help Galaxy S6 and S6 edge owners get the most out of their new phones with the 'Powered by Clean Master' feature," said Sheng Fu, CEO of Cheetah Mobile. "Clean Master's distinctive qualities have made it the No. 1 app in Google Play's Tools category across over 50 countries, the top choice for hundreds of millions of Android users, and now a valuable partner for Samsung's mobile phones. Samsung's passion for creating a simple, secure and seamless experience aligns closely with our own, and we look forward to a mutually beneficial long-term collaboration."

The "Powered by Clean Master" functionality in the Galaxy S6 and Galaxy S6 edge, both of which were unveiled at the 2015 Mobile World Congress, is the result of joint meetings across four different countries and extensive testing by both parties.

As Android users add a growing number of apps to their phones, all of those apps generate gigabytes' worth of junk cache files and contribute to insufficient storage errors. Clean Master consistently helps first-time users get back more than 2GB of space. On average, Clean Master frees up 30% more storage than similar tools.

Clean Master invented an advanced 'Cloud + Manual' cleaning system capable of completely analyzing the hundreds of thousands of apps that phone users install every day. Clean Master also includes proprietary multilayered technology that prevents important files from being mistakenly deleted, so users won't lose their precious photos, videos and files. Privacy Protection, another popular Clean Master function, allows users to browse and chat online without fear of their private information leaking out.

Cheetah Mobile's partnership with Samsung represents the culmination of the company's explosive growth over the last few years from a small startup in Beijing to the global leader in mobile utility applications. Cheetah Mobile was named 2014's 'Best Android Security Product Award' by the AV-Test security institute, and its flagship app, Clean Master, is currently the No. 1 app on Google Play for boosting smartphone performance. In January 2015, App Annie named Cheetah Mobile the No. 3 non-game publisher in the world for Android and iOS, behind only Facebook and Google.

BEIJING, Jan. 30, 2015 /PRNewswire/ -- Cheetah Mobile Inc. (CMCM) ("Cheetah" or the "Company"), a leading mobile Internet company that provides mission critical applications to help make the Internet and mobile experience speedier, simpler, and safer for users worldwide, today announced that it has entered into a supplemental agreement with Shenzhen Tencent Computer Systems Company Limited ("Tencent Shenzhen"), a subsidiary of Tencent Holdings Limited ("Tencent").

Under the new supplemental agreement, Tencent, through their products or platforms, would provide various promotional services to Cheetah. In addition, the annual cap with respect to the fees payable by Cheetah to Tencent for the year ending December 31, 2015 will be RMB100 million. Aside from the aforementioned revision, all existing terms and conditions under the original Strategic Cooperation Agreement (as defined in the background information) remain unchanged.

Mr. Sheng Fu, Cheetah Mobile's Chief Executive Officer, stated, "We are thrilled to expand our collaboration with Tencent, one of the world's largest Internet and mobile Internet companies which possesses one of the largest user audiences and highest user frequency of any Internet company in China. By leveraging Tencent's tremendous user base and traffic from its various products and platforms, we are able to further grow Cheetah's market share, brand recognition and mobile user base in China, which is a key focus for the Company's global strategy going forward."

Third Quarter 2014 Unaudited Financial Results

• Total revenues increased by 158.1% year-over-year and 25.9% quarter-over-quarter to RMB478.7 million (US$78.0 million).
• Diluted earnings per ADS (USD)$0.07 vs last years (USD)$0.02

Mr. Sheng Fu, Cheetah Mobile's Chief Executive Officer, stated, "We are excited to report another quarter of robust growth, driven by the strong demand for advertising services on our PC and mobile platforms, as well as continued user growth. In particular, mobile revenue again outperformed our expectations as we made significant strides in expanding our mobile advertising business internationally. In addition, our on-going product innovation and positive user word-of-mouth have led to continued strength in organic user traffic growth and downloads for our applications. According to App Annie, Cheetah Mobile was once again the No. 1 publisher for mobile apps in the Tools category on Google Play by worldwide monthly downloads in September 2014. Recently, our flagship app, Clean Master, has also reached an important milestone of 100 million daily active users. Furthermore, because of our strategic alliances with leading Chinese Internet companies, this quarter we witnessed accelerated growth in mobile MAUs in China. Overall, our total mobile MAUs exceeded 340 million in September. Going forward, we remain committed to enhancing product innovation and growing our user base and user engagement." 

Mr. Andy Yeung, Cheetah Mobile's Chief Financial Officer, commented, "This quarter, we once again achieved financial results that exceeded our expectations due to stronger-than-expected user traffic growth and demand for our advertising services. Total revenues reached a new record of RMB479 million, up 158% year-over-year and 26% quarter-over-quarter, and well exceeding the high end of our previous guidance. We are especially excited to see significant progress in our mobile and global vision in the third quarter. Led by a strong ramp-up in our overseas mobile advertising business, mobile revenues grew 628% year-over-year and 48% quarter-over-quarter to RMB113 million, which now accounts for 24% of our total quarterly revenue. In the quarters ahead, we will continue to invest in our mobile business to strengthen our foundation for future success in this rapidly developing market."

BUSINESS OUTLOOK

For the fourth quarter of 2014, the Company expects its total estimated revenues to be between RMB560 million (US$91 million) and RMB570 million (US$93 million), representing a year-over-year growth of approximately 108% to 112%. The forecast reflects the Company's current and preliminary view, which is subject to change.

BEIJING, Oct. 15, 2014 /PRNewswire/ -- Cheetah Mobile Inc. (NYSE: CMCM) ("Cheetah Mobile" or the "Company"), a leading mobile Internet company that provides mission critical applications to help make the Internet and mobile experience speedier, simpler, and safer for users worldwide, today announced that the Company has entered into a joint operation framework agreement for games with Kingsoft Corporation Limited (03888.HK) ("Kingsoft", including its subsidiaries other than Cheetah Mobile).

Under the terms of the agreement, the two companies will jointly operate games developed and owned by Kingsoft on Cheetah Mobile's products and platforms. Kingsoft will provide game content and relevant updates while Cheetah Mobile will be responsible for the operation, promotion and distribution of those games. Under the principles and scope of this framework agreement, Cheetah and Kingsoft may enter into individual game contracts that must be carried out on normal commercial terms. Revenues generated from mobile game users (the "Allocable Revenue") will be shared by the two companies. Cheetah Mobile agrees to pay a percentage of the Allocable Revenue to Kingsoft, ranging from 20% to 50%. In addition, Cheetah Mobile will pay licensing fees to Kingsoft, ranging from RMB2 million to RMB15 million per game based on the quality of the game, the scope of licensed area and the licensed mobile platform. The agreement is set to expire on December 31, 2015. Furthermore, as part of the agreement, the annual caps payable to Kingsoft for the two years ending December 31, 2014 and December 31, 2015 will be RMB42 million and RMB78 million, respectively.

"We are extremely excited to expand our collaboration with Kingsoft, one of the top game developers in China with vast experience in online game development," stated Mr. Sheng Fu, Cheetah Mobile's Chief Executive Officer. "With our strong suite of mission critical applications that we have developed, the Cheetah Mobile platform has accumulated more than 284 million mobile monthly active users as of June this year. This large and growing user base, coupled with increased user engagement, enables us to become an increasingly effective mobile marketing platform for third party apps and games, while also strengthening our own game publishing capabilities. As we further expand our game publishing efforts, we believe that this partnership will greatly benefit both companies."

SAN FRANCISCO, Sept. 30, 2014 /PRNewswire/ Cheetah Mobile Inc. (CMCM), a leading mobile internet company that provides mission critical applications to help make the internet and mobile experience speedier, simpler, and safer for users worldwide, launches its first PC application in the U.S., Clean Master for PC. The software scans a user's computer, clearing unwanted junk files to optimize and accelerate computer performance.

With more than 280 million monthly active users of the Clean Master app on Android, now Cheetah Mobile is extending the same reliable service to the PC platform. Scanning more than 500 popular programs, the software locates cache or junk files generated by media, internet, gaming and system processes, clearing an average of 2GB of junk each day. Junk files take up valuable storage space and slow a computer's performance. Clearing these files regularly with Clean Master for PC helps users reclaim storage and enhance computer speed.

"The U.S. market is the cornerstone of our global expansion strategy and we're excited to be growing our U.S. offerings with Clean Master for PC," said Sheng Fu, CEO of Cheetah Mobile. "Our PC and internet services have been available in other markets around the world. Since we've received an overwhelming response to our mobile applications here in the U.S., we wanted to bring these trusted and reliable services to this market."

Clean Master for PC is quick and easy to use with an intuitive user interface. With one click, Clean Master will begin its scan, revealing to users the amount of junk detected for each program, with the option to quickly clear these junk files away. The dynamic and colorful design features popular flat elements in the interface, showing users simple icons of each program the software is scanning. Overall, the software provides and better cleaning experience that is simple and safe.

Second Quarter 2014 Financial Results

• Total revenues increased by 139.3% year-over-year and 20.5% quarter-over-quarter to RMB380.3 million (US$61.3 million).
• Non-GAAP diluted earnings per ADS[5] in the second quarter of 2014 increased to RMB0.49 (US$0.08) from RMB0.15 in the prior year period.

Mr. Sheng Fu, Cheetah Mobile's Chief Executive Officer, stated, "We are pleased to report strong performance across all of our key business lines in the second quarter. We are also excited to report another quarter of rapid user growth, laying a strong foundation for our future growth. In June 2014, our mobile MAUs grew at an impressive rate of over 255% year-over-year to reach 284.3 million users worldwide, with approximately 67% of those users coming from overseas markets. Additionally, our mobile applications continue to gain popularity worldwide. According to App Annie, five of our mobile applications were ranked among the top 40 most downloaded non-game apps on Google Play worldwide in July 2014. Our Clean Master application continues to be ranked #1 in the Tools category on Google Play. On the development front, we remain focused on creating differentiated mobile applications to drive user growth and engagement. During the quarter, we launched an extremely light and fast mobile browser, CM Browser, which became one of the top 40 most downloaded non-game apps on Google Play in July. Going forward, we will continue to pursue strategic opportunities to expand our mobile business, and to maintain our leading global market position."

Mr. Andy Yeung, Cheetah Mobile's Chief Financial Officer, commented, "Our quarterly revenues continued on a strong trajectory, hitting a record of RMB380 million. In addition to robust mobile user growth, we also made significant progress on the mobile monetization front this quarter, with mobile revenues growing 1,103% year-over-year and 42% quarter-over-quarter to RMB76 million. Mobile revenues has become a material revenue contributor and now accounts for 20% of our total revenues in the second quarter, a dramatic increase from only 4% a year ago. Looking forward, we remain committed to strengthening our mobile monetization effort as it becomes an increasingly important driver of our overall top line growth, as well as continuing to make investments that will lead to increased user growth and expand our product portfolio and service offerings."

BUSINESS OUTLOOK

For the third quarter of 2014, the Company expects its total estimated revenues to be between RMB430 million (US$69.3 million) and RMB440 million (US$70.9 million), representing a year-over-year growth of approximately 132% to 137%. The forecast reflects the Company's current and preliminary view, which is subject to change.