Smart Share Global Limited Announces Third Quarter 2024 Results

Quick Summary:

The previously issued consolidated financial statements as of December 31, 2022 and 2023 and for the years then ended will be revised when they are presented in the Company’s Form 20-F for the year ended December 31, 2024. Year ended December 31, 2021   As Previously Reported Corrections As revised Error #   (Amounts in thousands of RMB)         Sales and marketing expenses(2,950,972) (3,457) (2,954,429) 2>, 3>General and administrative expenses(118,973) (1,847) (120,820) 3>Loss from operations(108,999) (5,304) (114,303)  Loss before income tax expense(124,615) (5,304) (129,919)  Net loss(124,615) (5,304) (129,919)  Net loss attributable to ordinary shareholders(4,958,370) (5,304) (4,963,674)  Total comprehensive loss(274,882) (5,304) (280,186)  Net loss per share attributable to ordinary shareholders       - basic and diluted(12.20) (0.01) (12.21)  Net loss per ADS attributable to ordinary shareholders       - basic and diluted(24.40) (0.02) (24.42)  Adjusted net loss (non-GAAP)(93,904) (5,304) (99,208)            Three months ended March 31, 2022 Three months ended June 30, 2022 Three months ended September 30, 2022 Three months ended December 31, 2022   As Previously Reported Corrections As revised As Previously Reported Corrections As revised As Previously Reported Corrections As revised As Previously Reported Corrections As revised Error # (Amounts in thousands of RMB)(Amounts in thousands of RMB)(Amounts in thousands of RMB)(Amounts in thousands of RMB)                           Cost of revenues(127,553) (398) (127,951) (162,869) (3,885) (166,754) (125,548) (6,545) (132,093) (140,953) (5,484) (146,437) 1>Sales and marketing expenses(659,679) (919) (660,598) (664,918) (2,318) (667,236) (752,534) (325) (752,859) (635,199) 760  (634,439) 2>, 3>General and administrative expenses(27,376) (145) (27,521) (28,458) (199) (28,657) (29,421) (212) (29,633) (27,148) (812) (27,960) 3>Other operating income/(loss)5,277  -  5,277  (1,565) (821) (2,386) 19,846  (1,287) 18,559  (10,682) (796) (11,478) 1>Loss from operations(99,316) (1,462) (100,778) (191,028) (7,223) (198,251) (96,974) (8,369) (105,343) (233,927) (6,332) (240,259)  Loss before income tax expense(96,411) (1,462) (97,873) (184,527) (7,223) (191,750) (95,754) (8,369) (104,123) (220,072) (6,332) (226,404)  Income tax expense-  365  365  -  1,131  1,131  -  1,372  1,372  (114,476) 1,005  (113,471) AllNet loss(96,411) (1,097) (97,508) (184,527) (6,092) (190,619) (95,754) (6,997) (102,751) (334,548) (5,327) (339,875)  Net loss attributable to ordinary shareholders(96,411) (1,097) (97,508) (184,527) (6,092) (190,619) (95,754) (6,997) (102,751) (334,548) (5,327) (339,875)  Total comprehensive loss(102,246) (1,097) (103,343) (108,881) (6,092) (114,973) (21,459) (6,997) (28,456) (366,282) (5,327) (371,609)  Net loss per share attributable to ordinary shareholders                         - basic and diluted(0.20) 0.01  (0.19) (0.36) (0.01) (0.37) (0.18) (0.02) (0.20) (0.64) (0.02) (0.66)  Net loss per ADS attributable to ordinary shareholders                         - basic and diluted(0.40) 0.02  (0.38) (0.72) (0.02) (0.74) (0.36) (0.04) (0.40) (1.28) (0.03) (1.31)  Adjusted net loss (non-GAAP)(89,695) (1,097) (90,792) (177,491) (6,092) (183,583) (88,638) (6,997) (95,635) (327,171) (5,327) (332,498)                              Six months ended June 30, 2022 Nine months ended September 30, 2022 Year ended December 31, 2022   As Previously Reported Corrections As revised As Previously Reported Corrections As revised As Previously Reported Corrections As revised Error # (Amounts in thousands of RMB)(Amounts in thousands of RMB)(Amounts in thousands of RMB)                     Cost of revenues(290,422) (4,283) (294,705) (415,970) (10,828) (426,798) (556,923) (16,312) (573,235) 1>Sales and marketing expenses(1,324,597) (3,237) (1,327,834) (2,077,131) (3,562) (2,080,693) (2,712,330) (2,802) (2,715,132) 2>,  3>General and administrative expenses(55,834) (344) (56,178) (85,255) (556) (85,811) (112,403) (1,368) (113,771) 3>Other operating income3,712  (821) 2,891  23,558  (2,108) 21,450  12,876  (2,904) 9,972  1>Loss from operations(290,344) (8,685) (299,029) (387,318) (17,054) (404,372) (621,245) (23,386) (644,631)  Loss before income tax expense(280,938) (8,685) (289,623) (376,692) (17,054) (393,746) (596,764) (23,386) (620,150)  Income tax expense-  1,496  1,496  -  2,868  2,868  (114,476) 3,873  (110,603) AllNet loss(280,938) (7,189) (288,127) (376,692) (14,186) (390,878) (711,240) (19,513) (730,753)  Net loss attributable to ordinary shareholders(280,938) (7,189) (288,127) (376,692) (14,186) (390,878) (711,240) (19,513) (730,753)  Total comprehensive loss(211,127) (7,189) (218,316) (232,586) (14,186) (246,772) (598,868) (19,513) (618,381)  Net loss per share attributable to ordinary shareholders                   - basic and diluted(0.54) (0.02) (0.56) (0.73) (0.02) (0.75) (1.37) (0.04) (1.41)  Net loss per ADS attributable to ordinary shareholders                   - basic and diluted(1.08) (0.04) (1.12) (1.46) (0.04) (1.50) (2.74) (0.08) (2.82)  Adjusted net loss (non-GAAP)(267,186) (7,189) (274,375) (355,824) (14,186) (370,010) (682,995) (19,513) (702,508)                         Three months ended March 31, 2023 Three months ended June 30, 2023 Three months ended September 30, 2023 Three months ended December 31, 2023    As Previously Reported Corrections As corrected* As Previously Reported Corrections As corrected* As Previously Reported Corrections As revised As Previously Reported Corrections As corrected* Error #  (Amounts in thousands of RMB)(Amounts in thousands of RMB)(Amounts in thousands of RMB)(Amounts in thousands of RMB)                            Cost of revenues (127,389) (1,355) (128,744) (668,547) (1,638) (670,185) (214,817) (644) (215,461) (198,711) 6,910  (191,801) 1>Sales and marketing expenses (665,274) (1,253) (666,527) (295,150) (1,216) (296,366) (298,216) 2,226  (295,990) (248,792) 1,075  (247,717) 2>, 3>General and administrative expenses (26,771) (450) (27,221) (31,117) (420) (31,537) (37,094) (683) (37,777) (30,546) (955) (31,501) 3>Other operating income/(loss) 2,268  (2,305) (37) (8,703) (1,270) (9,973) (5,532) (1,491) (7,023) (13,860) 4,985  (8,875) 1>(Loss)/income from operations (15,775) (5,363) (21,138) 13,558  (4,544) 9,014  34,008  (592) 33,416  (32,856) 12,015  (20,841)  Income before income tax expense 10,810  (5,363) 5,447  24,515  (4,544) 19,971  70,451  (592) 69,859  2,986  12,015  15,001   Income tax expense -  227  227  -  391  391  (20,442) (407) (20,849) (579) (724) (1,303) AllNet income 10,810  (5,136) 5,674  24,515  (4,153) 20,362  50,009  (999) 49,010  2,407  11,291  13,698   Net income attributable to ordinary shareholders 10,810  (5,136) 5,674  24,515  (4,153) 20,362  50,009  (999) 49,010  2,407  11,291  13,698   Total comprehensive (loss)/income (7,257) (5,136) (12,393) 93,004  (4,153) 88,851  37,677  (999) 36,678  (16,787) 11,291  (5,496)  Net income per share attributable to ordinary shareholders                          - basic and diluted 0.02  (0.01) 0.01  0.05  (0.01) 0.04  0.10  (0.01) 0.09  0.00  0.03  0.03   Net income per ADS attributable to ordinary shareholders                          - basic and diluted 0.04  (0.02) 0.02  0.10  (0.02) 0.08  0.20  (0.01) 0.19  0.00  0.05  0.05   Adjusted net income (non-GAAP) 17,095  (5,136) 11,959  30,055  (4,153) 25,902  55,214  (999) 54,215  5,716  11,291  17,007     Six months ended June 30, 2023 Nine months ended September 30, 2023 Year ended December 31, 2023   As Previously Reported Corrections As corrected* As Previously Reported Corrections As corrected* As Previously Reported Corrections As revised Error # (Amounts in thousands of RMB)(Amounts in thousands of RMB)(Amounts in thousands of RMB)                     Cost of revenues(795,936) (2,993) (798,929) (1,010,753) (3,637) (1,014,390) (1,209,464) 3,273  (1,206,191) 1>Sales and marketing expenses(960,424) (2,469) (962,893) (1,258,640) (243) (1,258,883) (1,507,432) 832  (1,506,600) 2>, 3>General and administrative expenses(57,888) (870) (58,758) (94,982) (1,553) (96,535) (125,528) (2,508) (128,036) 3>Other operating loss(6,435) (3,575) (10,010) (11,967) (5,066) (17,033) (25,827) (81) (25,908) 1>(Loss)/income from operations(2,217) (9,907) (12,124) 31,791  (10,499) 21,292  (1,065) 1,516  451   Income before income tax expense35,325  (9,907) 25,418  105,776  (10,499) 95,277  108,762  1,516  110,278   Income tax expense-  618  618  (20,442) 211  (20,231) (21,021) (513) (21,534) AllNet income35,325  (9,289) 26,036  85,334  (10,288) 75,046  87,741  1,003  88,744   Net income attributable to ordinary shareholders35,325  (9,289) 26,036  85,334  (10,288) 75,046  87,741  1,003  88,744   Total comprehensive income85,747  (9,289) 76,458  123,424  (10,288) 113,136  106,637  1,003  107,640   Net income per share attributable to ordinary shareholders                   - basic and diluted0.07  (0.02) 0.05  0.16  (0.02) 0.14  0.17  0.00  0.17   Net income per ADS attributable to ordinary shareholders                   - basic and diluted0.14  (0.04) 0.10  0.32  (0.03) 0.29  0.34  0.00  0.34   Adjusted net income (non-GAAP)47,150  (9,289) 37,861  102,364  (10,288) 92,076  108,080  1,003  109,083                        Three months ended March 31, 2024 Three months ended June 30, 2024 Six months ended June 30, 2024   As Previously Reported Corrections As corrected* As Previously Reported Corrections As corrected* As Previously Reported Corrections As corrected* Error # (Amounts in thousands of RMB)(Amounts in thousands of RMB)(Amounts in thousands of RMB)                     Cost of revenues(167,737) -  (167,737) (219,600) -  (219,600) (387,337) -  (387,337) 1>Sales and marketing expenses(204,494) 2,082  (202,412) (180,949) 2,430  (178,519) (385,443) 4,512  (380,931) 2>, 3>General and administrative expenses(26,584) (986) (27,570) (39,450) 72  (39,378) (66,034) (914) (66,948) 3>Other operating loss(1,474) (593) (2,067) (8,133) (593) (8,726) (9,607) (1,186) (10,793) 1>Loss from operations(22,757) 503  (22,254) (6,021) 1,909  (4,112) (28,778) 2,412  (26,366)  Income before income tax expense7,339  503  7,842  20,191  1,909  22,100  27,530  2,412  29,942   Income tax expense(7,688) (354) (8,042) (11,013) (825) (11,838) (18,701) (1,179) (19,880) AllNet (loss)/income(349) 149  (200) 9,178  1,084  10,262  8,829  1,233  10,062   Net (loss)/income attributable to ordinary shareholders(349) 149  (200) 9,178  1,084  10,262  8,829  1,233  10,062   Total comprehensive income2,013  149  2,162  15,079  1,084  16,163  17,092  1,233  18,325   Net (loss)/ income per share attributable to ordinary shareholders                   - basic and diluted(0.00) 0.00  (0.00) 0.02  0.00  0.02  0.02  0.00  0.02   Net (loss)/ income per ADS attributable to ordinary shareholders                   - basic and diluted(0.00) 0.00  (0.00) 0.04  0.00  0.04  0.03  0.01  0.04   Adjusted net income (non-GAAP)3,834  149  3,983  15,212  1,084  16,296  19,046  1,233  20,279                        As of March 31, 2022 As of June 30, 2022 As of September 30, 2022   As Previously Reported Corrections As revised As Previously Reported Corrections As revised As Previously Reported Corrections As revised Error # (Amounts in thousands of RMB)(Amounts in thousands of RMB)(Amounts in thousands of RMB)                     Accounts receivable, net11,616  -  11,616  16,729  -  16,729  13,862  -  13,862  3>Prepayments and other current assets396,431  5,399  401,830  408,906  2,406  411,312  365,891  (51) 365,840  2>, 3>Total current assets3,158,544  5,399  3,163,943  3,296,072  2,406  3,298,478  3,473,368  (51) 3,473,317   Deferred tax assets-  -  -  -  -  -  -  -  -   Other non-current assets143,384  (317) 143,067  114,696  (317) 114,379  75,356  (319) 75,037  3>Total non-current assets1,085,178  (317) 1,084,861  1,011,567  (317) 1,011,250  970,140  (319) 969,821   Total assets4,243,722  5,082  4,248,804  4,307,639  2,089  4,309,728  4,443,508  (370) 4,443,138   Accounts and notes payable533,924  11,866  545,790  691,115  11,391  702,506  796,380  9,469  805,849  2>Tax payable8,373  33  8,406  33,048  3,607  36,655  93,077  10,067  103,144  AllCurrent Liabilities992,753  11,899  1,004,652  1,176,270  14,998  1,191,268  1,336,208  19,536  1,355,744   Total liabilities1,120,470  11,899  1,132,369  1,290,251  14,998  1,305,249  1,441,126  19,536  1,460,662   Accumulated deficit(8,704,399) (6,817) (8,711,216) (8,888,927) (12,909) (8,901,836) (8,984,680) (19,906) (9,004,586) AllTotal shareholders' equity3,123,252  (6,817) 3,116,435  3,017,388  (12,909) 3,004,479  3,002,382  (19,906) 2,982,476   Total liabilities and shareholders' equity4,243,722  5,082  4,248,804  4,307,639  2,089  4,309,728  4,443,508  (370) 4,443,138                                            As of March 31, 2023 As of June 30, 2023 As of September 30, 2023   As Previously Reported Corrections As corrected* As Previously Reported Corrections As corrected* As Previously Reported Corrections As corrected* Error # (Amounts in thousands of RMB)(Amounts in thousands of RMB)(Amounts in thousands of RMB)                     Accounts receivable, net17,203  -  17,203  243,068  (29) 243,039  243,771  (524) 243,247  3>Prepayments and other current assets302,793  (4,234) 298,559  401,716  (6,548) 395,168  349,793  (4,368) 345,425  2>, 3>Total current assets3,420,919  (4,234) 3,416,685  3,916,080  (6,577) 3,909,503  3,991,784  (4,892) 3,986,892   Deferred tax assets30,986  3,873  34,859  30,986  3,873  34,859  23,070  3,873  26,943  AllOther non-current assets28,683  (703) 27,980  19,402  (1,058) 18,344  19,630  (1,150) 18,480  3>Total non-current assets978,630  3,170  981,800  391,352  2,815  394,167  419,466  2,723  422,189   Total assets4,399,549  (1,064) 4,398,485  4,307,432  (3,762) 4,303,670  4,411,250  (2,169) 4,409,081   Accounts and notes payable909,320  6,656  915,976  688,213  5,594  693,807  794,811  5,644  800,455  2>Tax payable169,452  22,649  192,101  262,152  25,166  287,318  215,253  27,708  242,961  AllCurrent Liabilities1,543,809  29,305  1,573,114  1,382,863  30,760  1,413,623  1,444,630  33,352  1,477,982   Total liabilities1,766,006  29,305  1,795,311  1,579,012  30,760  1,609,772  1,642,733  33,352  1,676,085   Accumulated deficit(9,309,059) (30,369) (9,339,428) (9,284,544) (34,522) (9,319,066) (9,234,535) (35,521) (9,270,056) AllTotal shareholders' equity2,633,543  (30,369) 2,603,174  2,728,420  (34,522) 2,693,898  2,768,517  (35,521) 2,732,996   Total liabilities and shareholders' equity4,399,549  (1,064) 4,398,485  4,307,432  (3,762) 4,303,670  4,411,250  (2,169) 4,409,081                        As of December 31, 2021 As of December 31, 2022 As of December 31, 2023   As Previously Reported Corrections As revised As Previously Reported Corrections As revised As Previously Reported Corrections As revised Error # (Amounts in thousands of RMB)(Amounts in thousands of RMB)(Amounts in thousands of RMB)                     Accounts receivable, net14,881  -  14,881  16,482  -  16,482  269,736  (993) 268,743  3>Prepayments and other current assets487,540  11,180  498,720  228,672  (2,209) 226,463  345,744  (6,493) 339,251  2>, 3>Total current assets3,247,732  11,180  3,258,912  3,300,784  (2,209) 3,298,575  4,025,789  (7,486) 4,018,303   Deferred tax assets-  -  -  30,986  3,873  34,859  18,804  3,361  22,165  AllOther non-current assets164,986  (317) 164,669  35,898  (634) 35,264  21,621  (1,152) 20,469  3>Total non-current assets1,150,249  (317) 1,149,932  986,857  3,239  990,096  399,584  2,209  401,793   Total assets4,397,981  10,863  4,408,844  4,287,641  1,030  4,288,671  4,425,373  (5,277) 4,420,096   Accounts and notes payable551,751  16,583  568,334  810,197  7,048  817,245  764,741  2,928  767,669  2>Tax payable10,195  -  10,195  147,367  19,215  166,582  214,738  16,025  230,763  AllCurrent Liabilities1,028,365  16,583  1,044,948  1,422,878  26,263  1,449,141  1,467,490  18,953  1,486,443   Total liabilities1,165,957  16,583  1,182,540  1,646,336  26,263  1,672,599  1,671,716  18,953  1,690,669   Accumulated deficit(8,607,989) (5,720) (8,613,709) (9,319,229) (25,233) (9,344,462) (9,232,128) (24,230) (9,256,358) AllTotal shareholders' equity3,232,024  (5,720) 3,226,304  2,641,305  (25,233) 2,616,072  2,753,657  (24,230) 2,729,427   Total liabilities and shareholders' equity4,397,981  10,863  4,408,844  4,287,641  1,030  4,288,671  4,425,373  (5,277) 4,420,096     As of March 31, 2024 As of June 30, 2024   As Previously Reported Corrections As corrected* As Previously Reported Corrections As corrected* Error # (Amounts in thousands of RMB)(Amounts in thousands of RMB)               Accounts receivable, net278,690  (1,626) 277,064  300,853  (1,292) 299,561  3>Prepayments and other current assets380,314  (8,120) 372,194  327,539  (10,115) 317,424  2>, 3>Total current assets4,047,143  (9,746) 4,037,397  3,968,175  (11,407) 3,956,768   Deferred tax assets18,804  3,360  22,164  18,804  3,360  22,164  AllOther non-current assets20,081  (1,368) 18,713  16,592  (1,391) 15,201  3>Total non-current assets354,770  1,992  356,762  304,324  1,969  306,293   Total assets4,401,913  (7,754) 4,394,159  4,272,499  (9,438) 4,263,061   Accounts and notes payable726,011  (644) 725,367  699,504  (4,830) 694,674  2>Tax payable213,999  16,971  230,970  213,000  18,389  231,389  AllCurrent Liabilities1,494,455  16,327  1,510,782  1,374,535  13,559  1,388,094   Total liabilities1,702,971  16,327  1,719,298  1,588,426  13,559  1,601,985   Accumulated deficit(9,232,477) (24,081) (9,256,558) (9,223,299) (22,997) (9,246,296) AllTotal shareholders' equity2,698,942  (24,081) 2,674,861  2,684,073  (22,997) 2,661,076   Total liabilities and shareholders' equity4,401,913  (7,754) 4,394,159  4,272,499  (9,438) 4,263,061                 * The corrections were material to the unaudited consolidated balance sheets as of March 31, 2023, June 30, 2023, September 30, 2023, March 31, 2024 and June 30, 2024 and the unaudited consolidated statements of comprehensive income/(loss) for the three months ended March 31, 2023, June 30, 2023, December 31, 2023, March 31, 2024 and June 30, 2024, for the six months ended June 30, 2023 and June 30, 2024 and for the nine months ended September 30, 2023.               Note: 1> Understatements of accrual for tax surcharges and related interest expenses Upon the final settlement of the Company’s underpaid VAT, which was recorded in prior periods, and surcharges, which was not recorded in prior periods, with the relevant tax authorities for its mobile device charging revenue in 2024, the Company determined that the unrecorded surcharges and interest expenses related to the surcharges should have been recorded in the same prior periods that the provision for underpaid VAT was recorded.

Smart Share Global LimitedUnaudited Consolidated Balance Sheets(In thousands, except for share and per share data, unless otherwise noted)         December 31, 2023 September 30, 2024 September 30, 2024RMBRMBUS$   ASSETS      Current assets:      Cash and cash equivalents 588,644  256,963  36,617 Restricted cash 173,246  114,291  16,286 Short-term investments 2,541,889  2,640,281  376,237 Accounts receivable, net 268,743  338,646  48,257 Inventory 106,530  162,508  23,157 Prepayments and other current assets 339,251  401,626  57,232        Total current assets 4,018,303  3,914,315  557,786        Non-current assets:      Long-term restricted cash 20,000  20,000  2,850 Property, equipment and software, net 322,806  190,720  27,177 Right-of-use assets, net 16,353  9,010  1,284 Other non-current assets 20,469  6,759  963 Deferred tax assets, net 22,165  1,252  178        Total non-current assets 401,793  227,741  32,452        Total assets 4,420,096  4,142,056  590,238        LIABILITIES AND SHAREHOLDERS' EQUITY      Current liabilities:      Accounts and notes payable 767,669  577,508  82,295 Salary and welfare payable 143,653  133,204  18,981 Taxes payable 230,763  207,414  29,556 Current portion of lease liabilities 7,399  3,585  511 Accruals and other current liabilities 336,959  352,341  50,209        Total current liabilities 1,486,443  1,274,052  181,552        Non-current liabilities:      Non-current lease liabilities 7,641  5,090  725 Amounts due to related parties-non-current 1,000  1,000  142 Other non-current liabilities 195,585  215,780  30,748        Total non-current liabilities 204,226  221,870  31,615        Total liabilities 1,690,669  1,495,922  213,167        SHAREHOLDERS' EQUITY      Ordinary shares 347  347  49 Treasury stock (5,549) (45,964) (6,549)Additional paid-in capital 11,791,570  11,748,257  1,674,113 Statutory reserves 16,593  16,593  2,364 Accumulated other comprehensive income 182,824  168,951  24,075 Accumulated deficit (9,256,358) (9,242,050) (1,316,981)       Total shareholders' equity 2,729,427  2,646,134  377,071        Total liabilities and shareholders' equity 4,420,096  4,142,056  590,238         Smart Share Global LimitedUnaudited Consolidated Statements of Comprehensive Income/ (Loss)(In thousands, except for share and per share data, unless otherwise noted)               Three months ended September 30, Nine months ended September 30,  2023 2024 2023 2024  RMB RMB US$ RMB RMB US$        As corrected*    Revenues:            Mobile device charging 564,193  367,885  52,423  2,403,516  1,156,571  164,810 Others 49,273  122,898  17,513  68,511  194,341  27,693              Total revenues 613,466  490,783  69,936  2,472,027  1,350,912  192,503              Cost of revenues (215,461) (298,396) (42,521) (1,014,390) (685,733) (97,716)Research and development expenses (23,799) (20,042) (2,856) (63,894) (60,528) (8,625)Sales and marketing expenses (295,990) (142,614) (20,322) (1,258,883) (523,545) (74,605)General and administrative expenses (37,777) (41,563) (5,923) (96,535) (108,511) (15,463)Other operating (loss)/income (7,023) 6,763  964  (17,033) (4,030) (574)             Income/(loss) from operations 33,416  (5,069) (722) 21,292  (31,435) (4,480)             Interest and investment income 32,160  27,919  3,978  86,450  87,262  12,435 Interest expense to third parties -  -  -  (4,228) -  - Foreign exchange loss, net 4,299  5,700  812  (8,210) 2,597  370 Other (loss)/income, net (16) 19  3  (27) 87  12              Income before income tax expense 69,859  28,569  4,071  95,277  58,511  8,337              Income tax expense (20,849) (24,323) (3,466) (20,231) (44,203) (6,299)             Net income 49,010  4,246  605  75,046  14,308  2,038              Net income attributable to ordinary shareholders of Smart Share Global Limited 49,010  4,246  605  75,046  14,308  2,038              Other comprehensive (loss)/income            Foreign currency translation adjustments, net of nil tax (12,332) (22,136) (3,154) 38,090  (13,873) (1,977)             Total comprehensive income/(loss) 36,678  (17,890) (2,549) 113,136  435  61              Comprehensive income/(loss) attributable to ordinary shareholders of Smart Share Global Limited 36,678  (17,890) (2,549) 113,136  435  61              Weighted average number of ordinary shares used in computing net income per share            - basic 520,075,932  507,084,501  507,084,501  519,795,778  512,825,904  512,825,904 - diluted 520,075,932  512,101,780  512,101,780  519,795,778  517,894,151  517,894,151              Net income per share attributable to ordinary shareholders            - basic 0.09  0.01  0.00  0.14  0.03  0.00 - diluted 0.09  0.01  0.00  0.14  0.03  0.00              Net income per ADS attributable to ordinary shareholders            - basic 0.19  0.02  0.00  0.29  0.06  0.01 - diluted 0.19  0.02  0.00  0.29  0.06  0.01              *The corrections as detailed in the section "Corrections of Previously Announced Interim Financial Information and Previously Issued Financial Statements” were material to the previously announced unaudited consolidated financial information of the Company for the nine months ended September 30, 2023.                    Corrections of Previously Announced Interim Financial Information and Previously Issued Financial Statements In connection with the preparation of its unaudited financial results for the three months ended September 30, 2024, the Company discovered prior period errors in the accrual for tax surcharges and related interest expenses, accruals for commissions to location partners and related balances, the impairment of prepayments to location partners and the expected credit losses on deposits to location partners and accounts receivable due from network partners.

As of September 30, 2024, the Company had cash and cash equivalents, restricted cash and short-term investments of RMB3.0 billion (US$432.0 million).  SUPPLEMENTAL INFORMATIONThe table below sets forth the breakdown of mobile device charging revenue components based on the latest classification for the periods indicated:  2023Q3 2024Q2 2024Q3 thousands RMB thousands RMB thousands RMB      Mobile device charging:     Network Partner Model279,960 292,505 309,837Mobile device charging solution58,759 61,508 65,935Power bank, cabinet and other related sales221,201 230,997 243,902Direct Model284,233 118,105 58,048Mobile device charging service278,099 115,863 57,113Power bank sales6,134 2,242 935Total mobile device charging564,193 410,610 367,885       CORRECTIONS OF PREVIOUSLY ANNOUNCED INTERIM FINANCIAL INFORMATION AND PREVIOUSLY ISSUED FINANCIAL STATEMENTSIn connection with the preparation of its unaudited financial results for the three months ended September 30, 2024, the Company discovered prior period errors in the accrual for tax surcharges and related interest expenses, accruals for commissions to location partners and related balances, the impairment of prepayments to location partners and the expected credit losses on deposits to location partners and accounts receivable due from network partners.

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Author / Journalist: Smart Share Global Limited

Category: Technology

Markets: ChinaUnited States

Topics: US83193E1029 Nasdaq:EM

Source Website Secure: Yes (HTTPS)

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Published On: 2025-03-06 @ 12:30:00 (10 hours ago)

News Timezone: GMT +8:00

News Source URL: globenewswire.com

Language: English

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Sentences: 73 lines

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