Smart Share Global Limited Announces Second Quarter 2024 Results
Smart Share Global (Nasdaq: EM) announced its Q2 2024 results. Key highlights include:
- 89.2% of POIs operated under the network partner model
- 1,267,000 POIs available, up from 1,245,000 in Q1 2024
- 9.5 million available-for-use power banks
- 417.1 million cumulative registered users
- 150.6 million mobile device charging orders
Revenues decreased 55.3% YoY to RMB462.9 million (US$63.7 million). The company returned to profitability with a net income of RMB9.2 million (US$1.3 million). The transition to the network partner model is progressing faster than expected, positioning the company for long-term success despite short-term impacts on POI expansion.
Smart Share Global (Nasdaq: EM) ha annunciato i risultati del Q2 2024. I punti salienti includono:
- Il 89,2% dei punti di interazione (POI) gestiti sotto il modello di partner di rete
- 1.267.000 POI disponibili, in aumento rispetto a 1.245.000 nel Q1 2024
- 9,5 milioni di batterie portatili disponibili per l'uso
- 417,1 milioni di utenti registrati cumulativi
- 150,6 milioni di ordini di ricarica per dispositivi mobili
I ricavi sono diminuiti del 55,3% rispetto all'anno precedente a RMB 462,9 milioni (US$ 63,7 milioni). L'azienda è tornata alla redditività con un reddito netto di RMB 9,2 milioni (US$ 1,3 milioni). La transizione al modello di partner di rete sta procedendo più rapidamente del previsto, posizionando l'azienda per un successo a lungo termine nonostante gli impatti a breve termine sull'espansione dei POI.
Smart Share Global (Nasdaq: EM) anunció sus resultados del Q2 2024. Los aspectos destacados incluyen:
- El 89.2% de los puntos de interacción (POI) operados bajo el modelo de socio de red
- 1,267,000 POI disponibles, un aumento desde 1,245,000 en el Q1 2024
- 9.5 millones de bancos de energía disponibles para uso
- 417.1 millones de usuarios registrados acumulativos
- 150.6 millones de órdenes de carga de dispositivos móviles
Los ingresos disminuyeron un 55.3% interanual a RMB 462.9 millones (US$ 63.7 millones). La compañía volvió a ser rentable con un ingreso neto de RMB 9.2 millones (US$ 1.3 millones). La transición al modelo de socio de red avanza más rápido de lo esperado, posicionando a la empresa para un éxito a largo plazo a pesar de los impactos a corto plazo en la expansión de POI.
스마트 쉐어 글로벌 (Nasdaq: EM)이 2024년 2분기 실적을 발표했습니다. 주요 사항은 다음과 같습니다:
- 네트워크 파트너 모델 하에 운영되는 POI의 89.2%
- 1,267,000개의 POI가 제공되며, 2024년 1분기 1,245,000개에서 증가
- 사용 가능한 파워뱅크 950만 개
- 총 등록 사용자 4억 1710만 명
- 모바일 기기 충전 주문 1억 5060만 건
수익은 전년 대비 55.3% 감소하여 RMB 462.9 백만 (미국 달러 6370만 달러)을 기록했습니다. 회사는 순이익 RMB 9.2 백만 (미국 달러 130만 달러)으로 수익성에 돌아왔습니다. 네트워크 파트너 모델로의 전환이 예상보다 빠르게 진행되고 있으며, 이는 POI 확장에 대한 단기적 영향에도 불구하고 장기적인 성공을 위한 회사의 위치를 강화하고 있습니다.
Smart Share Global (Nasdaq: EM) a annoncé ses résultats pour le T2 2024. Les faits saillants comprennent :
- 89,2 % des points d'interaction (POI) opérés sous le modèle de partenaire réseau
- 1 267 000 POI disponibles, en hausse par rapport à 1 245 000 au T1 2024
- 9,5 millions de banques d'alimentation disponibles à l'utilisation
- 417,1 millions d'utilisateurs enregistrés cumulés
- 150,6 millions de commandes de recharge pour appareils mobiles
Les revenus ont diminué de 55,3 % par rapport à l'année précédente, atteignant 462,9 millions RMB (63,7 millions USD). L'entreprise est redevenue rentable avec un revenu net de 9,2 millions RMB (1,3 million USD). La transition vers le modèle de partenaire réseau progresse plus rapidement que prévu, positionnant l'entreprise pour un succès à long terme malgré les impacts à court terme sur l'expansion des POI.
Smart Share Global (Nasdaq: EM) hat die Ergebnisse für das Q2 2024 bekannt gegeben. Wichtige Höhepunkte sind:
- 89,2% der Kontaktpunkte (POIs) unter dem Partnernetzwerk-Modell betrieben
- 1.267.000 POIs verfügbar, ein Anstieg von 1.245.000 im Q1 2024
- 9,5 Millionen verfügbare Powerbanks
- 417,1 Millionen kumulativ registrierte Nutzer
- 150,6 Millionen Mobilgeräte-Ladeaufträge
Die Einnahmen gingen im Jahresvergleich um 55,3% auf RMB 462,9 Millionen (63,7 Millionen USD) zurück. Das Unternehmen kehrte mit einem Nettogewinn von RMB 9,2 Millionen (1,3 Millionen USD) zur Rentabilität zurück. Der Übergang zum Partnernetzwerk-Modell verläuft schneller als erwartet und positioniert das Unternehmen für langfristigen Erfolg, trotz kurzfristiger Auswirkungen auf die POI-Erweiterung.
- Return to profitability with net income of RMB9.2 million
- Successful transition to network partner model, reaching 89.2% of POIs
- Increase in cumulative registered users to 417.1 million
- Exploration of mobile device charging service market beyond China
- Increase in other revenues by 453.7% to RMB52.3 million due to new business initiatives
- 55.3% decrease in overall revenues year-over-year
- 60% decrease in mobile device charging revenues
- Decrease in mobile device charging orders from 171.8 million to 150.6 million year-over-year
- Loss from operations of RMB6.0 million compared to income in the same period last year
- Decrease in sales and marketing expenses by 38.7% due to reduced incentive fees and personnel expenses
Insights
Energy Monster's Q2 2024 results show a mixed picture. While the company returned to profitability, revenues declined significantly by
The shift towards the network partner model, now at
The exploration of opportunities beyond China could provide growth potential, but investors should monitor the costs and risks associated with international expansion. The company's strong cash position of
The weaker-than-expected consumption environment in China is a concern, reflected in the decline of mobile device charging orders from 171.8 million to 150.6 million year-over-year. This trend suggests broader economic challenges that could impact Energy Monster's growth in the near term.
However, the company's user base continues to expand, with cumulative registered users reaching 417.1 million, including 12.8 million new registrations in Q2. This growing user base could be leveraged for future revenue opportunities, especially as consumption patterns normalize.
The shift to the network partner model is reducing operational expenses and potentially improving margins. This could position Energy Monster for stronger profitability once the transition is complete, although investors should expect continued revenue volatility in the short term.
POIs1 operated through network partner model reached
Cumulative registered users2 reached 417.1 million as of the end of the second quarter of 2024
SHANGHAI, Aug. 22, 2024 (GLOBE NEWSWIRE) -- Smart Share Global Limited (Nasdaq: EM) (“Energy Monster” or the “Company”), a consumer tech company providing mobile device charging service, today announced its unaudited financial results for the quarter ended June 30, 2024.
HIGHLIGHTS FOR THE SECOND QUARTER OF 2024
- As of June 30, 2024,
89.2% of POIs were operated under our network partner model, compared with79.7% as of March 31, 2024. - As of June 30, 2024, the Company’s services were available in 1,267 thousand POIs, compared with 1,245 thousand as of March 31, 2024.
- As of June 30, 2024, the Company’s available-for-use power banks3 were 9.5 million, compared with 9.4 million as of March 31, 2024.
- As of June 30, 2024, cumulative registered users reached 417.1 million, with 12.8 million newly registered users acquired during the quarter.
- Mobile device charging orders4 for the second quarter of 2024 was 150.6 million, compared with 171.8 million for the second quarter of 2023.
“Despite the weaker-than-expected consumption environment, we delivered a solid performance this quarter as we returned to profitability,” said Mars Guangyuan Cai, Chairman and Chief Executive Officer. “Our commitment to long-term value, even in the current consumption climate, is evident in our ongoing transition towards the network partner model, which we consider to be crucial for our long-term success. Additionally, this quarter, we have proactively begun exploring opportunities in the mobile device charging service market beyond China as a way to diversify our operation. By taking these steps, we are positioning the Company to capture the long-term value of the industry and deliver substantial returns to our investors.”
“The pace at which we have rebalanced our operations between the direct model and the network partner model has exceeded our initial expectations,” said Peifeng Xu, President. “Although the shift in our business model has imposed short-term impacts on our new POI expansion rate, we remain confident in our long-term prospects. Notably, the reduction in our direct model operations will not only lower our operational expenses but also enhance the contribution from the higher-margin network partner model.”
“Our return to profitability this quarter is a positive development, especially in light of the current transitions,” said Maria Yi Xin, Chief Financial Officer. “We will continue to pursue higher levels of operational efficiency within our core mobile device charging service. Simultaneously, we are committed to investing in new initiatives that will leverage Energy Monster’s existing capabilities and unlock new avenues for growth. These efforts are essential as we aim to realize our full growth potential and consistently deliver sustained value to our shareholders.”
FINANCIAL RESULTS FOR THE SECOND QUARTER OF 2024
Revenues were RMB462.9 million (US
- Mobile device charging revenues, which consist of revenues generated under both the direct and network partner models, decreased by
60.0% to RMB410.6 million (US$56.5 million ) for the second quarter of 2024, from RMB1,026.3 million in the same period of 2023.
- Revenues generated under the direct model, comprising of mobile device charging service fees of RMB115.9 million and power bank sales of RMB2.2 million, decreased by
60.7% to RMB118.1 million for the second quarter of 2024, from RMB300.7 million in the same period of 2023. The decrease was primarily due to the decrease in number of POIs operated under the direct model. - Revenues generated under the network partner model, comprising of (i) mobile device charging solution fees, which increased by
14.3% year-over-year to RMB61.5 million, and (ii) power bank, cabinet and other related sales, which decreased by65.6% year-over-year to RMB231.0 million, decreased by59.7% to RMB292.5 million for the second quarter of 2024, from RMB725.6 million in the same period of 2023. The decrease was primarily due to certain one-time adjustments made to the mobile device charging revenues for the second quarter of 2023 as a result of the change in the contractual arrangement with network partners.
- Revenues generated under the direct model, comprising of mobile device charging service fees of RMB115.9 million and power bank sales of RMB2.2 million, decreased by
- Other revenues, which primarily comprise of revenues from new business initiatives and advertising services, increased by
453.7% to RMB52.3 million (US$7.2 million ) for the second quarter of 2024, from RMB9.4 million in the same period of 2023. The increase was primarily attributable to new business initiatives.
Cost of revenues decreased by
Research and development expenses increased by
Sales and marketing expenses decreased by
General and administrative expenses increased by
Loss from operations for the second quarter of 2024 was RMB6.0 million (US
Net income for the second quarter of 2024 was RMB9.2 million (US
Non-GAAP adjusted net income for the second quarter of 2024 was RMB15.2 million (US
Net income attributable to ordinary shareholders for the second quarter of 2024 was RMB9.2 million (US
As of June 30, 2024, the Company had cash and cash equivalents, restricted cash and short-term investments of RMB3.2 billion (US
SUPPLEMENTAL INFORMATION
The table below sets forth the breakdown of mobile device charging revenue components based on the latest classification for the periods indicated:
2023Q2 | 2024Q1 | 2024Q2 | |||
thousands RMB | thousands RMB | thousands RMB | |||
Mobile device charging: | |||||
Direct Model | 300,701 | 155,224 | 118,105 | ||
Mobile device charging service | 293,922 | 152,108 | 115,863 | ||
Power bank sales | 6,779 | 3,116 | 2,242 | ||
Network Partner Model | 725,577 | 222,852 | 292,505 | ||
Mobile device charging service | - | - | - | ||
Mobile device charging solution | 53,793 | 59,016 | 61,508 | ||
Power bank, cabinet and other related sales | 671,784 | 163,836 | 230,997 | ||
Total mobile device charging | 1,026,278 | 378,076 | 410,610 | ||
CONFERENCE CALL INFORMATION
The company will hold a conference call at 8:00 A.M. Eastern Time on Thursday, August 22, 2024 (8:00 P.M. Beijing Time on Thursday, August 22, 2024) to discuss the financial results. Upon registration, each participant will receive dial-in details to join the conference call.
Event Title: Energy Monster’s Second Quarter 2024 Earnings Conference Call
Pre-registration link: https://s1.c-conf.com/diamondpass/10041388-erkogt.html
Participants may also access the call via webcast: https://edge.media-server.com/mmc/p/fga362u4
A telephone replay will be available through August 29, 2024. The dial-in details are as follows:
International: | +61-7-3107-6325 |
United States: | +1-855-883-1031 |
Mainland China: | +86-400-120-9216 |
China Hong Kong: | +852-800-930-639 |
Access Code: | 10041388 |
A live and archived webcast of the conference call will also be available at the Company’s investor relations website at https://ir.enmonster.com/.
ABOUT SMART SHARE GLOBAL LIMITED
Smart Share Global Limited (Nasdaq: EM), or Energy Monster, is a consumer tech company with the mission to energize everyday life. The Company is the largest provider of mobile device charging service in China with the number one market share. The Company provides mobile device charging service through its power banks, which are placed in POIs such as entertainment venues, restaurants, shopping centers, hotels, transportation hubs and public spaces. Users may access the service by scanning the QR codes on Energy Monster’s cabinets to release the power banks. As of June 30, 2024, the Company had 9.5 million power banks in 1,267,000 POIs across more than 2,100 counties and county-level districts in China.
CONTACT US
Investor Relations
Hansen Shi
ir@enmonster.com
SAFE HARBOR STATEMENT
This press release contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. In some cases, forward-looking statements can be identified by words or phrases such as “may,” “will,” “expect,” “anticipate,” “target,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to,” or other similar expressions. Among other things, the business outlook and quotations from management in this announcement, as well as the Company’s strategic and operational plans, contain forward-looking statements. The Company may also make written or oral forward-looking statements in its reports filed with, or furnished to, the U.S. Securities and Exchange Commission (“SEC”), in its annual reports to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Energy Monster’s strategies; its future business development, financial condition and results of operations; the impact of technological advancements on the pricing of and demand for its services; competition in the mobile device charging service industry; Chinese governmental policies and regulations affecting the mobile device charging service industry; changes in its revenues, costs or expenditures; general economic and business conditions globally and in China and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any duty to update such information, except as required under applicable law.
NON-GAAP FINANCIAL MEASURE
In evaluating its business, the Company considers and uses non-GAAP adjusted net income in reviewing and assessing its operating performance. The presentation of this non-GAAP financial measure is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with U.S. GAAP. The Company presents this non-GAAP financial measure because it is used by management to evaluate operating performance and formulate business plans. The Company believes that this non-GAAP financial measure helps identify underlying trends in its business, provide further information about its results of operations, and enhance the overall understanding of its past performance and future prospects.
Non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP, and have limitations as analytical tools. The Company’s non-GAAP financial measure does not reflect all items of expenses that affect its operations and does not represent the residual cash flow available for discretionary expenditures. Further, the Company’s non-GAAP measure may differ from the non-GAAP information used by other companies, including peer companies, and therefore its comparability may be limited. The Company compensates for these limitations by reconciling its non-GAAP financial measure to the nearest U.S. GAAP performance measure, which should be considered when evaluating performance. Investors and others are encouraged to review the Company’s financial information in its entirety and not rely on a single financial measure.
The Company defines non-GAAP adjusted net income as net income excluding share-based compensation expenses. For more information on the non-GAAP financial measure, please see the table captioned “Unaudited Reconciliation of GAAP and Non-GAAP Results” set forth at the end of this press release.
Smart Share Global Limited | ||||||||||||
Unaudited Consolidated Balance Sheets | ||||||||||||
(In thousands, except for share and per share data, unless otherwise noted) | ||||||||||||
December 31, 2023 | June 30, 2024 | June 30, 2024 | ||||||||||
RMB | RMB | US$ | ||||||||||
ASSETS | ||||||||||||
Current assets: | ||||||||||||
Cash and cash equivalents | 588,644 | 735,208 | 101,168 | |||||||||
Restricted cash | 173,246 | 146,037 | 20,095 | |||||||||
Short-term investments | 2,541,889 | 2,302,795 | 316,875 | |||||||||
Accounts receivable, net | 269,736 | 300,853 | 41,399 | |||||||||
Inventory | 106,530 | 155,743 | 21,431 | |||||||||
Prepayments and other current assets | 345,744 | 327,539 | 45,071 | |||||||||
Total current assets | 4,025,789 | 3,968,175 | 546,039 | |||||||||
Non-current assets: | ||||||||||||
Long-term restricted cash | 20,000 | 20,000 | 2,752 | |||||||||
Property, equipment and software, net | 322,806 | 237,794 | 32,722 | |||||||||
Right-of-use assets, net | 16,353 | 11,134 | 1,532 | |||||||||
Other non-current assets | 21,621 | 16,592 | 2,283 | |||||||||
Deferred tax assets, net | 18,804 | 18,804 | 2,587 | |||||||||
Total non-current assets | 399,584 | 304,324 | 41,876 | |||||||||
Total assets | 4,425,373 | 4,272,499 | 587,915 | |||||||||
LIABILITIES AND SHAREHOLDERS' EQUITY | ||||||||||||
Current liabilities: | ||||||||||||
Accounts and notes payable | 764,741 | 699,504 | 96,254 | |||||||||
Salary and welfare payable | 143,653 | 122,335 | 16,834 | |||||||||
Taxes payable | 214,738 | 213,000 | 29,310 | |||||||||
Current portion of lease liabilities | 7,399 | 5,241 | 721 | |||||||||
Accruals and other current liabilities | 336,959 | 334,455 | 46,023 | |||||||||
Total current liabilities | 1,467,490 | 1,374,535 | 189,142 | |||||||||
Non-current liabilities: | ||||||||||||
Non-current lease liabilities | 7,641 | 5,390 | 742 | |||||||||
Amounts due to related parties-non-current | 1,000 | 1,000 | 138 | |||||||||
Other non-current liabilities | 195,585 | 207,501 | 28,553 | |||||||||
Total non-current liabilities | 204,226 | 213,891 | 29,433 | |||||||||
Total liabilities | 1,671,716 | 1,588,426 | 218,575 | |||||||||
SHAREHOLDERS' EQUITY | ||||||||||||
Ordinary shares | 347 | 347 | 48 | |||||||||
Treasury stock | (5,549 | ) | (44,243 | ) | (6,088 | ) | ||||||
Additional paid-in capital | 11,791,570 | 11,743,588 | 1,615,971 | |||||||||
Statutory reserves | 16,593 | 16,593 | 2,283 | |||||||||
Accumulated other comprehensive income | 182,824 | 191,087 | 26,294 | |||||||||
Accumulated deficit | (9,232,128 | ) | (9,223,299 | ) | (1,269,168 | ) | ||||||
Total shareholders' equity | 2,753,657 | 2,684,073 | 369,340 | |||||||||
Total liabilities and shareholders' equity | 4,425,373 | 4,272,499 | 587,915 | |||||||||
Smart Share Global Limited | |||||||||||||||||||
Unaudited Consolidated Statements of Comprehensive Income | |||||||||||||||||||
(In thousands, except for share and per share data, unless otherwise noted) | |||||||||||||||||||
Three months ended June 30, | Six months ended June 30, | ||||||||||||||||||
2023 | 2024 | 2023 | 2024 | ||||||||||||||||
RMB | RMB | US$ | RMB | RMB | US$ | ||||||||||||||
Revenues: | |||||||||||||||||||
Mobile device charging | 1,026,278 | 410,610 | 56,502 | 1,839,323 | 788,686 | 108,527 | |||||||||||||
Others | 9,448 | 52,313 | 7,199 | 19,238 | 71,443 | 9,831 | |||||||||||||
Total revenues | 1,035,726 | 462,923 | 63,701 | 1,858,561 | 860,129 | 118,358 | |||||||||||||
Cost of revenues | (668,547 | ) | (219,600 | ) | (30,218 | ) | (795,936 | ) | (387,337 | ) | (53,299 | ) | |||||||
Research and development expenses | (18,651 | ) | (20,812 | ) | (2,864 | ) | (40,095 | ) | (40,486 | ) | (5,571 | ) | |||||||
Sales and marketing expenses | (295,150 | ) | (180,949 | ) | (24,899 | ) | (960,424 | ) | (385,443 | ) | (53,039 | ) | |||||||
General and administrative expenses | (31,117 | ) | (39,450 | ) | (5,429 | ) | (57,888 | ) | (66,034 | ) | (9,087 | ) | |||||||
Other operating loss | (8,703 | ) | (8,133 | ) | (1,119 | ) | (6,435 | ) | (9,607 | ) | (1,322 | ) | |||||||
Income/(loss) from operations | 13,558 | (6,021 | ) | (828 | ) | (2,217 | ) | (28,778 | ) | (3,960 | ) | ||||||||
Interest and investment income | 28,054 | 28,754 | 3,957 | 54,290 | 59,343 | 8,166 | |||||||||||||
Interest expense to third parties | - | - | - | (4,228 | ) | - | - | ||||||||||||
Foreign exchange loss, net | (17,269 | ) | (2,537 | ) | (349 | ) | (12,509 | ) | (3,103 | ) | (427 | ) | |||||||
Other income/(loss), net | 172 | (5 | ) | (1 | ) | (11 | ) | 68 | 9 | ||||||||||
Income before income tax expense | 24,515 | 20,191 | 2,779 | 35,325 | 27,530 | 3,788 | |||||||||||||
Income tax expense | - | (11,013 | ) | (1,516 | ) | - | (18,701 | ) | (2,573 | ) | |||||||||
Net income | 24,515 | 9,178 | 1,263 | 35,325 | 8,829 | 1,215 | |||||||||||||
Net income attributable to ordinary shareholders of Smart Share Global Limited | 24,515 | 9,178 | 1,263 | 35,325 | 8,829 | 1,215 | |||||||||||||
Other comprehensive income | |||||||||||||||||||
Foreign currency translation adjustments, net of nil tax | 68,489 | 5,901 | 812 | 50,422 | 8,263 | 1,137 | |||||||||||||
Total comprehensive income | 93,004 | 15,079 | 2,075 | 85,747 | 17,092 | 2,352 | |||||||||||||
Comprehensive income attributable to ordinary shareholders of Smart Share Global Limited | 93,004 | 15,079 | 2,075 | 85,747 | 17,092 | 2,352 | |||||||||||||
Weighted average number of ordinary shares used in computing net income per share | |||||||||||||||||||
- basic | 520,059,564 | 513,255,262 | 513,255,262 | 519,652,925 | 515,725,209 | 515,725,209 | |||||||||||||
- diluted | 520,059,564 | 523,442,724 | 523,442,724 | 519,652,925 | 520,818,940 | 520,818,940 | |||||||||||||
Net income per share attributable to ordinary shareholders | |||||||||||||||||||
- basic | 0.05 | 0.02 | 0.00 | 0.07 | 0.02 | 0.00 | |||||||||||||
- diluted | 0.05 | 0.02 | 0.00 | 0.07 | 0.02 | 0.00 | |||||||||||||
Net income per ADS attributable to ordinary shareholders | |||||||||||||||||||
- basic | 0.10 | 0.04 | 0.01 | 0.14 | 0.03 | 0.00 | |||||||||||||
- diluted | 0.10 | 0.04 | 0.01 | 0.14 | 0.03 | 0.00 | |||||||||||||
Smart Share Global Limited | ||||||||||||
Unaudited Reconciliation of GAAP and Non-GAAP Results | ||||||||||||
(In thousands, except for share and per share data, unless otherwise noted) | ||||||||||||
Three months ended June 30, | Six months ended June 30, | |||||||||||
2023 | 2024 | 2023 | 2024 | |||||||||
RMB | RMB | US$ | RMB | RMB | US$ | |||||||
Net income | 24,515 | 9,178 | 1,263 | 35,325 | 8,829 | 1,215 | ||||||
Add: | ||||||||||||
Share-based compensation | 5,540 | 6,034 | 830 | 11,825 | 10,217 | 1,406 | ||||||
Less: | ||||||||||||
Adjusted for tax effects | - | - | - | - | - | - | ||||||
Adjusted net income (non-GAAP) | 30,055 | 15,212 | 2,093 | 47,150 | 19,046 | 2,621 | ||||||
___________________________
1 The Company defines number of points of interests, or POIs, as of a certain day as the total number of unique locations whose proprietors (location partners) have entered into contracts with the Company or its network partners on that day and have at least one cabinet assigned to the location.
2 The Company defines cumulative registered users as the total number of users who have agreed to register their mobile phone numbers with the Company via its mini programs since inception, and the number of cumulative registered users of the Company on a certain date is the number of unique mobile phone numbers that have been registered with the Company since inception on that date.
3 The Company defines available-for-use power banks as of a certain date as the number of power banks in circulation on that day.
4 The Company defines mobile device charging orders for a given period as the total number of completed orders placed by registered users of the mobile device charging business under both the direct and network partner models in that given period, without any adjustment for orders that may qualify for discounts or incentives.
5 The U.S. dollar (US$) amounts disclosed in this press release, except for those transaction amounts that were actually settled in U.S. dollars, are presented solely for the convenience of the readers. The conversion of Renminbi (RMB) into US$ in this press release is based on the exchange rate set forth in the H.10 statistical release of the Board of Governors of the Federal Reserve System as of June 28, 2024, which was RMB7.2672 to US
FAQ
What was Energy Monster's revenue for Q2 2024?
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How many cumulative registered users did Energy Monster (EM) have by the end of Q2 2024?