CMCM 6-K

Cheetah Mobile Inc. (CMCM)

6-K 2025-11-26 For: 2025-11-26

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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	September 30, 2025
	RMB	RMB	USD
ASSETS
Current assets:
Cash and cash equivalents	1,833,031	1,597,311	224,373
Short-term investments	335	863	121
Accounts receivable, net	473,619	443,459	62,292
Prepayments and other current assets, net	1,365,761	1,115,204	156,653
Due from related parties, net	106,934	126,801	17,812
Total current assets	3,779,680	3,283,638	461,251

Non-current assets:
Property and equipment, net	51,564	40,797	5,731
Operating lease right-of-use assets	26,323	19,067	2,678
Intangible assets, net	190,665	205,660	28,889
Goodwill	424,099	460,034	64,621
Long-term investments	817,330	761,408	106,954
Deferred tax assets	128,581	119,725	16,818
Other non-current assets	86,059	90,317	12,687
Total non-current assets	1,724,621	1,697,008	238,378

Total assets	5,504,301	4,980,646	699,629

LIABILITIES, MEZZANINE EQUITY AND SHAREHOLDERS' EQUITY
Current liabilities:
Accounts payable	219,566	207,356	29,127
Accrued expenses and other current liabilities	2,756,805	2,309,513	324,415
Due to related parties	69,606	18,011	2,530
Income tax payable	35,804	50,748	7,129
Total current liabilities	3,081,781	2,585,628	363,201

Non-current liabilities:
Deferred tax liabilities	43,046	44,635	6,270
Other non-current liabilities	172,348	165,010	23,179
Total non-current liabilities	215,394	209,645	29,449

Total liabilities	3,297,175	2,795,273	392,650

Mezzanine equity:
Redeemable noncontrolling interests	189,725	196,191	27,559

Shareholders’ equity:
Ordinary shares	248	254	36
Additional paid-in capital	2,722,504	2,724,880	382,762
Accumulated deficit	(1,232,577)	(1,299,551)	(182,547)
Accumulated other comprehensive income	410,423	391,343	54,972
Total Cheetah Mobile Inc. shareholders’ equity	1,900,598	1,816,926	255,223
Noncontrolling interests	116,803	172,256	24,197

Total shareholders’ equity	2,017,401	1,989,182	279,420

Total liabilities, mezzanine equity and shareholders’ equity	5,504,301	4,980,646	699,629


	For The Three Months Ended			For The Nine Months Ended
	September 30, 2024	September 30, 2025	September 30, 2025	September 30, 2024	September 30, 2025	September 30, 2025
	RMB	RMB	USD	RMB	RMB	USD
Revenues	192,083	287,369	40,367	569,788	841,593	118,217
Internet business	134,287	142,407	20,004	357,036	459,385	64,529
AI and others	57,796	144,962	20,363	212,752	382,208	53,688
Cost of revenues (a)	(61,714)	(73,005)	(10,255)	(197,365)	(212,936)	(29,911)
Gross profit	130,369	214,364	30,112	372,423	628,657	88,306

Operating income and expenses:
Research and development (a)	(66,269)	(67,962)	(9,547)	(177,885)	(196,289)	(27,573)
Selling and marketing (a)	(89,038)	(82,806)	(11,632)	(237,570)	(290,078)	(40,747)
General and administrative (a)	(47,349)	(60,170)	(8,452)	(188,104)	(179,421)	(25,203)
Other operating income, net	278	506	71	1,014	3,465	487
Total operating income and expenses	(202,378)	(210,432)	(29,560)	(602,545)	(662,323)	(93,036)

Operating (loss)/income	(72,009)	3,932	552	(230,122)	(33,666)	(4,730)
Other income/(expenses):
Interest income, net	9,471	9,560	1,343	34,560	25,145	3,532
Foreign exchange gains	21,351	8,628	1,212	10,510	16,627	2,336
Other income/(expense), net	1,738	(12,318)	(1,730)	(57,469)	(34,171)	(4,800)

(Loss)/income before income taxes	(39,449)	9,802	1,377	(242,521)	(26,065)	(3,662)
Income tax (expenses)/benefits	(2,387)	(13,506)	(1,897)	3,806	(22,191)	(3,117)
Net loss	(41,836)	(3,704)	(520)	(238,715)	(48,256)	(6,779)
Less: net income attributable to noncontrolling interests	5,061	7,270	1,021	12,058	18,718	2,629
Net loss attributable to Cheetah Mobile shareholders	(46,897)	(10,974)	(1,541)	(250,773)	(66,974)	(9,408)

Net loss per share
Basic	(0.0323)	(0.0085)	(0.0012)	(0.1711)	(0.0480)	(0.0067)
Diluted	(0.0323)	(0.0086)	(0.0012)	(0.1711)	(0.0483)	(0.0067)

Net loss per ADS
Basic	(1.6150)	(0.4236)	(0.0600)	(8.5542)	(2.4019)	(0.3350)
Diluted	(1.6150)	(0.4296)	(0.0600)	(8.5569)	(2.4130)	(0.3350)

Weighted average number of shares outstanding
Basic	1,509,057,830	1,548,248,444	1,548,248,444	1,499,799,151	1,527,699,928	1,527,699,928
Diluted	1,509,057,830	1,548,248,444	1,548,248,444	1,499,799,151	1,527,699,928	1,527,699,928
Weighted average number of ADSs outstanding
Basic	30,181,157	30,964,969	30,964,969	29,995,983	30,553,999	30,553,999
Diluted	30,181,157	30,964,969	30,964,969	29,995,983	30,553,999	30,553,999

Other comprehensive income/(loss) , net of tax of nil
Foreign currency translation adjustments	(32,036)	(16,996)	(2,387)	(2,622)	(24,911)	(3,499)
Unrealized gains/(losses) on available-for-sale securities, net	2,799	3,814	536	(4,635)	6,662	936
Other comprehensive loss	(29,237)	(13,182)	(1,851)	(7,257)	(18,249)	(2,563)
Total comprehensive loss	(71,073)	(16,886)	(2,371)	(245,972)	(66,505)	(9,342)
Less: Total comprehensive income attributable to noncontrolling interests	7,346	5,774	811	11,890	19,549	2,746
Total comprehensive loss attributable to Cheetah Mobile shareholders	(78,419)	(22,660)	(3,182)	(257,862)	(86,054)	(12,088)


	For The Three Months Ended			For The Nine Months Ended
	September 30, 2024	September 30, 2025	September 30, 2025	September 30, 2024	September 30, 2025	September 30, 2025
(a) Share-based compensation expenses	RMB	RMB	USD	RMB	RMB	USD
Cost of revenues	92	4	1	541	14	2
Research and development	236	(172)	(24)	644	186	26
Selling and marketing	(277)	183	26	(167)	483	68
General and administrative	4,863	2,714	381	19,939	9,991	1,403
Total	4,914	2,729	384	20,957	10,674	1,499


	For The Three Months Ended September 30, 2025					For The Nine Months Ended September 30, 2025
	GAAP	Share-based	Amortization of	Non-GAAP		GAAP	Share-based	Amortization of	Non-GAAP
	Result	Compensation	intangible assets*	Result		Result	Compensation	intangible assets*	Result
	RMB	RMB	RMB	RMB	USD	RMB	RMB	RMB	RMB	USD
Revenues	287,369	-	-	287,369	40,367	841,593	-	-	841,593	118,217
Cost of revenues	(73,005)	4	-	(73,001)	(10,254)	(212,936)	14	-	(212,922)	(29,909)
Gross profit	214,364	4	-	214,368	30,113	628,657	14	-	628,671	88,308

Research and development	(67,962)	(172)	6,388	(61,746)	(8,674)	(196,289)	186	18,700	(177,403)	(24,920)
Selling and marketing	(82,806)	183	2,070	(80,553)	(11,315)	(290,078)	483	3,008	(286,587)	(40,257)
General and administrative	(60,170)	2,714	-	(57,456)	(8,071)	(179,421)	9,991	-	(169,430)	(23,800)
Other operating income, net	506	-	-	506	71	3,465	-	-	3,465	487
Total operating income and expenses	(210,432)	2,725	8,458	(199,249)	(27,989)	(662,323)	10,660	21,708	(629,955)	(88,490)

Operating income/(loss)	3,932	2,729	8,458	15,119	2,124	(33,666)	10,674	21,708	(1,284)	(182)
Net (loss)/income attributable to Cheetah Mobile shareholders	(10,974)	2,729	8,458	213	31	(66,974)	10,674	21,708	(34,592)	(4,860)

Diluted losses per ordinary share (RMB)	(0.0086)	0.0018	0.0054	(0.0014)		(0.0483)	0.0070	0.0141	(0.0272)
Diluted losses per ADS (RMB)	(0.4296)	0.0900	0.2696	(0.0700)		(2.4130)	0.3500	0.7030	(1.3600)
Diluted losses per ADS (USD)	(0.0600)	0.0126	0.0376	(0.0098)		(0.3350)	0.0492	0.0948	(0.1910)