Smart Share Global Ltd. Sponsored ADR Class A (EM.US) achieved adjusted net profit of 9.2 million yuan in the third quarter, maintaining non-GAAP profitability for seven consecutive quarters.

On March 6th, Beijing time, the technology consumer company Smart Share Global Ltd. Sponsored ADR Class A (EM.US) announced the unaudited financial report for the third quarter of 2024. In the third quarter of 2024, Smart Share Global Ltd. Sponsored ADR Class A maintained strong performance, achieving a turnover of over 1.2 billion RMB in the mobile charging business. The number of registered users increased by 13.1 million in the third quarter, reaching a new high of 430 million. In 2024, Smart Share Global Ltd. Sponsored ADR Class A actively responded to external challenges, leveraging years of industry experience to vigorously develop the agency model. By the end of the third quarter, the agency model accounted for 96.8% of Smart Share Global Ltd. Sponsored ADR Class A's distribution points. The agency model not only provides stable profitability but also helps penetrate previously inaccessible regions, bringing higher economies of scale, facilitating rapid brand expansion, and promoting stable profitability and long-term development. Starting from the second quarter of 2023, the recognition of Smart Share Global Ltd. Sponsored ADR Class A's agency business revenue was adjusted from full amount to net amount. Under the new business model, Smart Share Global Ltd. Sponsored ADR Class A's performance remained strong and resilient, validating the results of the business transformation. In the third quarter of 2024, Smart Share Global Ltd. Sponsored ADR Class A achieved operating income of 491 million RMB, and under non-GAAP, the adjusted net profit was 9.2 million RMB, maintaining non-GAAP profitability for seven consecutive quarters; GAAP basis achieved a net profit of 4.2 million RMB. The adjustment of the business model has helped Smart Share Global Ltd. Sponsored ADR Class A expand its scale and service network coverage, with the number of distribution points and online power banks reaching new highs. As of September 30, 2024, Smart Share Global Ltd. Sponsored ADR Class A had a total of 9.5 million online power banks nationwide and 1.27 million points of interest (POI). By the end of the third quarter of 2024, Smart Share Global Ltd. Sponsored ADR Class A had cash and cash equivalents, short-term investments, and restricted cash of 3 billion RMB, providing solid support for business development. At the new business development trend, Smart Share Global Ltd. Sponsored ADR Class A will seize the consumer market opportunities, calmly face challenges, continue to innovate products, provide high-standard professional services, build core competitiveness, and lead the healthy development of the shared charging industry.