CMCM 6-K

Cheetah Mobile Inc. (CMCM)

6-K 2026-03-24 For: 2026-03-24

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Added on April 10, 2026

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CHEETAH MOBILE INC.

By:	/s/ Thomas Jintao Ren
Name:	Thomas Jintao Ren
Title:	Chief Financial Officer


	As of
	December 31, 2024	December 31, 2025
	RMB	RMB	USD
ASSETS
Current assets:
Cash and cash equivalents	1,833,031	1,506,625	215,445
Short-term investments	335	9,527	1,362
Accounts receivable, net	473,619	468,058	66,931
Prepayments and other current assets, net	1,365,761	1,154,774	165,132
Due from related parties, net	106,934	94,821	13,559
Total current assets	3,779,680	3,233,805	462,429

Non-current assets:
Property and equipment, net	51,564	40,238	5,754
Operating lease right-of-use assets	26,323	16,833	2,407
Intangible assets, net	190,665	54,069	7,732
Goodwill	424,099	460,034	65,784
Long-term investments	817,330	688,459	98,448
Deferred tax assets	128,581	112,913	16,146
Other non-current assets	86,059	77,521	11,085
Total non-current assets	1,724,621	1,450,067	207,356

Total assets	5,504,301	4,683,872	669,785

LIABILITIES, MEZZANINE EQUITY AND SHAREHOLDERS' EQUITY
Current liabilities:
Accounts payable	219,566	211,689	30,271
Accrued expenses and other current liabilities	2,756,805	2,264,659	323,842
Due to related parties	69,606	18,613	2,662
Income tax payable	35,804	54,430	7,783
Total current liabilities	3,081,781	2,549,391	364,558

Non-current liabilities:
Deferred tax liabilities	43,046	21,711	3,105
Other non-current liabilities	172,348	154,422	22,082
Total non-current liabilities	215,394	176,133	25,187

Total liabilities	3,297,175	2,725,524	389,745

Mezzanine equity:
Redeemable noncontrolling interests	189,725	197,560	28,251

Shareholders’ equity:
Ordinary shares	248	254	36
Additional paid-in capital	2,722,504	2,736,117	391,260
Accumulated deficit	(1,232,577)	(1,490,947)	(213,203)
Accumulated other comprehensive income	410,423	362,245	51,800
Total Cheetah Mobile Inc. shareholders’ equity	1,900,598	1,607,669	229,893
Noncontrolling interests	116,803	153,119	21,896

Total shareholders’ equity	2,017,401	1,760,788	251,789

Total liabilities, mezzanine equity and shareholders’ equity	5,504,301	4,683,872	669,785


	For The Three Months Ended			For The Year Ended
	December 31, 2024	December 31, 2025	December 31, 2025	December 31, 2024	December 31, 2025	December 31, 2025
	RMB	RMB	USD	RMB	RMB	USD
Revenues	237,089	308,851	44,165	806,877	1,150,444	164,511
Internet business	160,152	155,896	22,293	517,188	615,281	87,984
AI and others	76,937	152,955	21,872	289,689	535,163	76,527
Cost of revenues (a)	(64,317)	(103,475)	(14,797)	(261,682)	(316,411)	(45,246)
Gross profit	172,772	205,376	29,368	545,195	834,033	119,265

Operating income and expenses:
Research and development (a)	(65,506)	(149,863)	(21,430)	(243,391)	(346,152)	(49,499)
Selling and marketing (a)	(104,851)	(72,657)	(10,390)	(342,421)	(362,735)	(51,870)
General and administrative (a)	(56,281)	(87,101)	(12,455)	(244,385)	(266,522)	(38,112)
Impairment of goodwill and intangible assets	(152,890)	(41,563)	(5,943)	(152,890)	(41,563)	(5,943)
Other operating (expense)/income	(377)	31	4	637	3,496	500
Total operating income and expenses	(379,905)	(351,153)	(50,214)	(982,450)	(1,013,476)	(144,924)

Operating loss	(207,133)	(145,777)	(20,846)	(437,255)	(179,443)	(25,659)
Other income/(expenses):
Interest income, net	9,862	5,484	784	44,422	30,629	4,380
Foreign exchange (losses)/gains	(32,236)	14,156	2,024	(21,726)	30,783	4,402
Other expense, net	(82,300)	(74,481)	(10,651)	(139,769)	(108,652)	(15,537)

Loss before income taxes	(311,807)	(200,618)	(28,689)	(554,328)	(226,683)	(32,414)
Income tax (expenses)/benefits	(51,064)	13,722	1,962	(47,258)	(8,469)	(1,211)
Net loss	(362,871)	(186,896)	(26,727)	(601,586)	(235,152)	(33,625)
Less: net income attributable to noncontrolling interests	3,913	3,843	550	15,971	22,561	3,226
Net loss attributable to Cheetah Mobile shareholders	(366,784)	(190,739)	(27,277)	(617,557)	(257,713)	(36,851)

Net loss per share
Basic	(0.2438)	(0.1262)	(0.0180)	(0.4161)	(0.1754)	(0.0251)
Diluted	(0.2439)	(0.1262)	(0.0180)	(0.4162)	(0.1764)	(0.0252)

Net loss per ADS
Basic	(12.1907)	(6.3082)	(0.9000)	(20.8042)	(8.7724)	(1.2550)
Diluted	(12.1947)	(6.3082)	(0.9000)	(20.8097)	(8.8185)	(1.2600)

Weighted average number of shares outstanding
Basic	1,512,707,145	1,550,604,238	1,550,604,238	1,503,054,847	1,533,473,068	1,533,473,068
Diluted	1,512,707,145	1,550,604,238	1,550,604,238	1,503,054,847	1,533,473,068	1,533,473,068
Weighted average number of ADSs outstanding
Basic	30,254,143	31,012,085	31,012,085	30,061,097	30,669,461	30,669,461
Diluted	30,254,143	31,012,085	31,012,085	30,061,097	30,669,461	30,669,461

Other comprehensive income/(loss) , net of tax of nil
Foreign currency translation adjustments	51,667	(25,511)	(3,648)	49,045	(50,422)	(7,210)
Unrealized gains/(losses) on available-for-sale securities, net	7,277	(5,541)	(792)	2,642	1,121	160
Other comprehensive income/(loss)	58,944	(31,052)	(4,440)	51,687	(49,301)	(7,050)
Total comprehensive loss	(303,927)	(217,948)	(31,167)	(549,899)	(284,453)	(40,675)
Less: Total comprehensive income attributable to noncontrolling interests	2,199	1,889	270	14,089	21,438	3,066
Total comprehensive loss attributable to Cheetah Mobile shareholders	(306,126)	(219,837)	(31,437)	(563,988)	(305,891)	(43,741)


	For The Three Months Ended			For The Year Ended
	December 31, 2024	December 31, 2025	December 31, 2025	December 31, 2024	December 31, 2025	December 31, 2025
(a) Share-based compensation expenses	RMB	RMB	USD	RMB	RMB	USD
Cost of revenues	(460)	2	-	81	16	2
Research and development	1,280	1,007	144	1,924	1,193	171
Selling and marketing	(495)	290	41	(662)	773	111
General and administrative	4,819	7,867	1,125	24,758	17,858	2,554
Total	5,144	9,166	1,310	26,101	19,840	2,838


	For The Three Months Ended December 31, 2025						For The Year Ended December 31, 2025
	GAAP	Share-based	Amortization of	Impairment	Non-GAAP		GAAP	Share-based	Amortization of	Impairment	Non-GAAP
	Result	Compensation	intangible assets*	of goodwill and intangible assets	Result		Result	Compensation	intangible assets*	of goodwill and intangible assets	Result
	RMB	RMB	RMB	RMB	RMB	USD	RMB	RMB	RMB	RMB	RMB	USD
Revenues	308,851	-	-	-	308,851	44,165	1,150,444	-	-	-	1,150,444	164,511
Cost of revenues	(103,475)	2	-	-	(103,473)	(14,797)	(316,411)	16	-	-	(316,395)	(45,244)
Gross profit	205,376	2	-	-	205,378	29,368	834,033	16	-	-	834,049	119,267

Research and development	(149,863)	1,007	108,471	-	(40,385)	(5,775)	(346,152)	1,193	127,171	-	(217,788)	(31,143)
Selling and marketing	(72,657)	290	2,070	-	(70,297)	(10,053)	(362,735)	773	5,078	-	(356,884)	(51,033)
General and administrative	(87,101)	7,867	-	-	(79,234)	(11,330)	(266,522)	17,858	-	-	(248,664)	(35,558)
Impairment of goodwill and intangible assets	(41,563)	-	-	41,563	-	-	(41,563)	-	-	41,563	-	-
Other operating income, net	31	-	-	-	31	4	3,496	-	-	-	3,496	500
Total operating income and expenses	(351,153)	9,164	110,541	41,563	(189,885)	(27,154)	(1,013,476)	19,824	132,249	41,563	(819,840)	(117,234)

Operating (loss)/income	(145,777)	9,166	110,541	41,563	15,493	2,214	(179,443)	19,840	132,249	41,563	14,209	2,033
Net loss attributable to Cheetah Mobile shareholders	(190,739)	9,166	110,541	41,563	(29,469)	(4,217)	(257,713)	19,840	132,249	41,563	(64,061)	(9,159)

Diluted losses per ordinary share (RMB)	(0.1262)	0.0059	0.0714	0.0268	(0.0221)		(0.1764)	0.0129	0.0863	0.0271	(0.0501)
Diluted losses per ADS (RMB)	(6.3082)	0.2950	3.5682	1.3400	(1.1050)		(8.8185)	0.6450	4.3135	1.3550	(2.5050)
Diluted losses per ADS (USD)	(0.9000)	0.0422	0.5082	0.1916	(0.1580)		(1.2600)	0.0922	0.6158	0.1938	(0.3582)


	For The Three Months Ended December 31, 2024					For The Year Ended December 31, 2024
	GAAP	Share-based	Amortization of	Impairment	Non-GAAP	GAAP	Share-based	Amortization of	Impairment	Non-GAAP
	Result	Compensation	intangible assets*	of goodwill and intangible assets	Result	Result	Compensation	intangible assets*	of goodwill and intangible assets	Result
	RMB	RMB	RMB	RMB	RMB	RMB	RMB	RMB	RMB	RMB
Revenues	237,089	-	-	-	237,089	806,877	-	-	-	806,877
Cost of revenues	(64,317)	(460)	-	-	(64,777)	(261,682)	81	-	-	(261,601)
Gross profit	172,772	(460)	-	-	172,312	545,195	81	-	-	545,276

Research and development	(65,506)	1,280	6,156	-	(58,070)	(243,391)	1,924	24,624	-	(216,843)
Selling and marketing	(104,851)	(495)	469	-	(104,877)	(342,421)	(662)	1,876	-	(341,207)
General and administrative	(56,281)	4,819	-	-	(51,462)	(244,385)	24,758	-	-	(219,627)
Impairment of goodwill and intangible assets	(152,890)	-	-	152,890	-	(152,890)	-	-	152,890	-
Other operating income, net	(377)	-	-	-	(377)	637	-	-	-	637
Total operating income and expenses	(379,905)	5,604	6,625	152,890	(214,786)	(982,450)	26,020	26,500	152,890	(777,040)

Operating loss	(207,133)	5,144	6,625	152,890	(42,474)	(437,255)	26,101	26,500	152,890	(231,764)
Net loss attributable to Cheetah Mobile shareholders	(366,784)	5,144	6,625	152,890	(202,125)	(617,557)	26,101	26,500	152,890	(412,066)

Diluted losses per ordinary share (RMB)	(0.2439)	0.0034	0.0044	0.1011	(0.1350)	(0.4162)	0.0174	0.0176	0.1017	(0.2795)
Diluted losses per ADS (RMB)	(12.1947)	0.1700	0.2200	5.0547	(6.7500)	(20.8097)	0.8700	0.8800	5.0847	(13.9750)