BEIJING, May 13, 2022
/PRNewswire/ -- Cheetah Mobile Inc. (NYSE: CMCM) ("Cheetah Mobile"
or the "Company"), a leading internet company, today announced that
it has received a letter from the New York Stock Exchange (the
"NYSE") dated April 15, 2022,
notifying Cheetah Mobile that it is below compliance standards due
to the trading price of Cheetah Mobile's American depositary shares
(the "ADSs").
Pursuant to NYSE continued listing standards applicable to
Cheetah Mobile, the Company is considered to be "below criteria"
for average closing price of a security less than $1.00 over a consecutive 30 trading-day period.
As of April 14, 2022, the 30
trading-day average price of the ADSs was $0.98.
The Company must bring its share price and average share price
back above $1.00 by six months
following receipt of the notification by the NYSE. In the event
that at the expiration of the six-month cure period, both a
$1.00 closing share price on the last
trading day of the cure period and a $1.00 average closing share price over the 30
trading-day period ending on the last trading day of the cure
period are not attained, the NYSE will commence suspension and
delisting procedures. Alternatively, the Company can also
demonstrate an accelerated cure based on a $1.00 share price on both the last trading day of
any calendar month within the six-month cure period and the average
share price over the 30 trading days preceding the end of that
month.
To address this issue, Cheetah Mobile intends to monitor the
market conditions of its listed securities and is still considering
its options.
About Cheetah Mobile Inc.
Cheetah Mobile is a leading internet company. It has attracted
hundreds of millions of monthly active users through an array of
internet products such as Clean Master, Security Master and several
casual games. The Company provides advertising services to
advertisers worldwide as well as value-added services including the
sale of premium membership and in-app virtual items to its users.
Cheetah Mobile is also committed to leveraging its cutting-edge
artificial intelligence technologies to power its products and make
the world smarter. It has been listed on the New York Stock
Exchange since May 2014.
Safe Harbor Statement
This announcement contains forward-looking statements. These
statements are made under the "safe harbor" provisions of the U.S.
Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terminology such as
"will," "expects," "anticipates," "future," "intends," "plans,"
"believes," "estimates" and similar statements. Statements that are
not historical facts, including statements about Cheetah's beliefs
and expectations, are forward-looking statements. Forward-looking
statements involve inherent risks and uncertainties. A number of
factors could cause actual results to differ materially from those
contained in any forward-looking statement. All information
provided in this press release is as of the date of this
press release, and Cheetah does not undertake any obligation to
update any forward-looking statement, except as required under
applicable law.
Investor Relations Contact
Cheetah Mobile Inc.
Tel: +86 10 6292 7779
Email: ir@cmcm.com
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SOURCE Cheetah Mobile