Smart Share Global Limited to Report Third Quarter 2023 Results on November 27, 2023
November 20, 2023 at 06:01 am EST
Share
SHANGHAI, China, Nov.  20, 2023  (GLOBE NEWSWIRE) -- Smart Share Global Limited (“Energy Monster” or the “Company”), a consumer tech company providing mobile device charging service, today announced that it plans to release its unaudited third quarter 2023 financial results on Monday, November 27, 2023, before the U.S. market opens. Smart Share Global Limited's management will hold a conference call at 8:00 A.M. Eastern Time on Monday, November 27, 2023 (9:00 P.M. Beijing Time on Monday, November 27, 2023) to discuss the financial results. Upon registration, each participant will receive dial-in details to join the conference call. Event Title: Energy Monster Third Quarter 2023 Earnings Conference Call
Pre-registration link: https://s1.c-conf.com/diamondpass/10035216-2hfck0.html
Participants may also access the call via webcast: https://edge.media-server.com/mmc/p/jnrnuvch
A telephone replay will be available through December 5, 2023. The dial-in details are as follows:
International:

Smart Share Global Limited to Report Third Quarter 2023 Results on November 27, 2023

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, 2023, the Company had 8.0 million power banks in 1,109,000 POIs across more than 1,900 counties and county-level districts in China. Contact Us

I focus on the tax issues of individuals, businesses & more
Got it! Jack Owoc, founder and chief executive officer of Bang Energy, speaks during a BevNET event in New ... [+] York, US, on Thursday, June 16, 2022. Owoc's brand came from nowhere and shot past $1 billion in annual sales, put a scare into Red Bull and Monster, and turned this man from Miami into a glitzy, hyped-up cross of business, Bible verses, science, sex appeal, and cocksure ostentation. Photographer: Jeenah Moon/Bloomberg
© 2022 Bloomberg Finance LP
Seems like everything becomes a tax story eventually and so it goes with the colorful controversial Jack H Owoc and his Vital Pharmaceuticals best known for its Bang Energy line of drinks. There has been controversy about the Pepsi distribution deal, what exactly is it that goes into those drinks, the massive lawsuit by Monster Inc and whether certain social media accounts belong to the company or Owoc personally . Bang had made it to third among energy drinks by an aggressive digital marketing effort. My part of the story is perhaps not as exciting, but it does have some interest. Joshua Schall has been covering the overall story on YouTube. The bankruptcy of Vital Pharmaceuticals seems to be heading toward liquidation after a massive asset sale to Monster. The sale may generate a substantial tax. Does that come out of Owoc's pocket or do the unsecured creditors bear the burden? About Vital Pharmaceuticals
Vital Pharmaceuticals (VP) was established in 1993. Headquarters are in Weston, FL. The company is involved in "sports nutrition" and "performance energy drinks". By the account of Chief Transformation Officer John C. DiDonato the Company produces "novel and great tasting beverages without sugar, calories, carbohydrates, or artificial flavors". Rather there is caffeine, electrolytes and other performance ingredients. The leading product was Bang. Bang was launched in 2012 and by 2022 was third best-selling energy drink in the United States. VP has historically been profitable. In 2019 it had earnings of $175 million on retail sales of $1.2 billion. The company has had an aggressive digital marketing structure including TikTok, Facebook, Instagram and YouTube. According to DiDonato the company was working with approximately 1,000 influencers and its social media marketing efforts reached 1.3 billion followers. MORE FOR YOU
There is a chance that you are today years old when you are hearing about Owoc and Bang. Danny Gonzalez in that video is not quite thirty years old. His channel has over a billion views. As I was working this story there was a major family event where I got to talk to people from age 3 to 76. The ones around the midpoint and younger had at least heard of Bang and knew about its social media presence. The boomers were clueless. In 2020 VP entered into a distribution agreement with Pepsico, which it tried to terminate seven months later. Pepsico resisted and there were various legal proceedings. They finally settled on June 21, 2022. As of the date of the bankruptcy petition in October 2022 the transition to an independent distribution system was still in progress. The distribution problem was a big setback, but what really sent VP and the related entities into bankruptcy was a lawsuit by competitor Monster Beverage
Corporation (MBC). That story defies easy summary beyond that it turned out really badly for VP. On the list of the 30 top creditors that is part of the bankruptcy the top two are Monster Energy Company and Orange Bang Inc, which was also involved in the lawsuit, with contingent, disputed unliquidated litigation claims totaling over half a billion dollars. Third position goes to Pepsico with a settlement agreement of $115 million. The Tax Issue
Since going into bankruptcy in 2022 VP has been losing a lot of money. Now when an individual goes into bankruptcy, a new taxable entity is created called the bankruptcy estate. That's not the case with a corporation. It continues as the same taxable entity. Historically Jack Owoc, the founder and sole shareholder had served as the sole director and CEO and managing member of affiliated entities. The bankruptcy led to an expansion of the board and ultimately Owoc's dismissal as CEO. He remains the sole shareholder, though which is what has created the tax dispute. Although he is still the sole shareholder he is no longer in charge. And that has the bankruptcy court ruling on tax elections. VP is an S corporation. Generally an S corporation does not pay corporate income taxes. Income and losses "flow through" to the returns of individual shareholders. Distributions to shareholders are generally not taxable to them. There is a very important concept called "basis". Basis puts a limit on how much loss can be allocated to a shareholder or how much they can withdraw tax free and is part of determining their gain or loss on sale or liquidation. When I started this story I was afraid that I was going to have to explain basis to you. It turns out that Mr. Owoc has plenty of basis, which implies that he was leaving a lot of profits in the corporation over the years. If you are curious about basis you can read my What Is Basis And Why It Is Important . What Mr. Owoc wants is VP to terminate its S election. When an S election terminates during a tax year some income or loss is allocated to the shareholders and the rest is taxed to the corporation which is henceforth a tax paying entity. The default method for the allocation is based on a ratio of days in the year before and after the revocation. Roughly speaking early July will give you a fifty fifty split. Earlier in the year will mean more goes to the taxable corporation. Later in the year means more goes to the shareholders. Mr. Owoc does not want the default method. He wants the corporation to elect to do an interim closing of the books. The cutoff will be before the Monster sale, which is at a big gain, is finalized. Judge Peter D. Russin ruled against Owoc's motion to accomplish this on October 6. Owoc has requested a hearing t o be conducted on October 31, not expecting a favorable outcome, but to preserve appellate remedies. Some Numbers
Reilly's Sixth Law of Tax Planning - Don't so the math in your head. The debtors figured that Owoc's maneuver would be a bad deal for them, but they wanted to know how bad. Attached to their motion in opposition is a report by Richard E Cabrera JD CPA, Director of Tax Services at Berkowitz Pollack Brant in Fort Lauderdale Fl. The report starts on page 27 of the pdf. The report lays out estimates of the tax payable by Owoc if the sale goes through with the S election still in force and what happens if the election is terminated with or without the closing of the books election. In addition the report gets into future tax benefits that Owoc might be able to use. When Cabrera did the report the expectation was that the $371 million asset sale to MBC that closed on July 31, 2023. Normal people won't understand this, but this was a really cool assignment. When I was younger and sharper I would have really relished doing it. Cabrera computed that if Owoc got both his wishes, the corporation would face a $27.5 million dollar tax as a result of the sale. Owoc would not be at all liable for the tax on the sale and would have a flowthough loss of $22 million from the activity prior to the sale. Upon liquidation Owoc would have a capital loss of $50 million from deducting his remaining basis in the corporation. If neither of Owoc's wishes are granted he would have a liability of "approximately" $3,438,1444 as a result of the sale and liquidation. He would have a net capital loss carryforward of $49 million and a remaining NOL carryover from 2022 of $23 million. The one wish scenario is a termination of the S election without the closing of the books election. Under a pro rata allocation Owoc would have a tax liability for 2023 of $10 million and the corporation would owe $9.2 million. If Owoc had terminated the S election immediately before the bankruptcy more losses would have gone to the C corporation reducing its ultimate tax from $27.5 million to $19.1 million. I really wish that I had Mr. Cabrera's workpapers and a week or so with nothing else to do, because these numbers don't feel right to me. VP has always been an S Corporation so if it finishes its life with Mr. Owoc getting nothing I would expect him to have zero basis at that point, not $50 million or so of left over basis that gives him a capital loss to carry over to use against future capital gains or to offset ordinary income at the rate of $3,000 per year for the next 17,000 years or so. Of course this is a much more complex entity than most of the S Corporations I have worked on over the years. Feel free to mock me in the comments section for missing the obvious explanation that you perceive. According to the court's decision Mr. Owoc's expert painted a much darker picture for him with a tax liability that could range between $95.6 million to $197.4 million. I can't begin to grasp the debits and credits that are going on there. What The Judge Ruled
One of the beefs that the creditors had with the attempt at the election was that Mr. Owoc waited until the last minute to raise it. That prejudices VP since they might have negotiated the sales deal differently if they knew the tax would be coming out of what went to the unsecured creditors. Judge Peter D. Russin ruled that the delay by Mr. Owoc was not inexcusable. He would not have known about his potential tax problem until late in the game and the possible changes that VP might have negotiated were speculative. Overcoming that obstacle did not win the case for Owoc. Judge Russin sank Owoc's plan by ruling that S status is property of the bankrupt entity not of the shareholder. S status is elected by the corporation with the consent of the shareholders. It is the same with the revocation of S status. And the close the books election is a corporate election. In making the ruling Judge Russin was critical of a Third Circuit decision, In re Majestic Star Casino. The facts were somewhat different there as the bankrupt entity was a QSub and the owning entity which was not in bankruptcy triggered the end of QSub status by revoking its own S election. What's Next? Owoc has filed an appeal in the district court this week. It is a little puzzling as to how this will play out, if he prevails. It is too late to make the election that he is arguing for effective when he wants it. Another way to have terminated the S election would be for Owoc to have transferred any amount of stock to a non-qualified shareholder. Perhaps that was done subject to obtaining court approval. This case would probably make for a good problem for a Masters In Taxation test. There is quite a bit of coverage of the bankruptcy litigation, but I have not found any discussion of this income tax issue. Follow me on  Twitter  or  LinkedIn . Check out my  website .

Who Is Stuck With Tax Tab For Bang Energy Monster Sale?

Changning District,  CHINA
SHANGHAI, China, Sept.  18, 2023  (GLOBE NEWSWIRE) -- Smart Share Global Limited (“Energy Monster” or the “Company”), a consumer tech company providing mobile device charging service, today announced the extension of its share repurchase program and changes to management team. EXTENSION OF SHARE REPURCHASE PROGRAM
The Company’s board of directors (the “Board”) authorized a further 12-month extension to its existing share repurchase program (the “Share Repurchase Program”) through September 27, 2024. The Share Repurchase Program was originally approved by the Board on September 28, 2021, under which the Company may repurchase up to US$50.0 million of its shares (including in the form of ADSs) through September 27, 2022. On September 28, 2022, the Company announced that the Share Repurchase Program was extended through September 27, 2023 as authorized by the Board. As of September 15, 2023, the Company had cumulatively repurchased approximately US$5.7 million of its shares (including in the form of ADSs) under the Share Repurchase Program. The Company’s proposed repurchases may be made from time to time through open market transactions at prevailing market prices, in privately negotiated transactions, in block trades and/or through other legally permissible means, depending on the market conditions and in accordance with applicable rules and regulations. The Company has no obligation to repurchase shares, and the Board will review the Share Repurchase Program periodically and may authorize adjustment of its terms and size or suspend or discontinue the program. The Company expects to fund the repurchases under the Share Repurchase Program with its existing cash balance. CHANGES TO MANAGEMENT TEAM
The Company announces that its Chief Technology Officer, Mr. Xiaowei Li, has tendered his resignation from the Company due to personal reasons. The resignation will be effective on October 31, 2023. The Board has approved the Company’s nomination of Mr. Peifeng Xu to the role of the President of the Company, in addition to his role as a Director of the Company. The appointment will be effective on September 18, 2023. Following the appointment, Mr. Xu will be in charge of the operation and the research and development of the Company’s mobile device charging business and will continue to report to Mr. Mars Guangyuan Cai, Chairman of the Board and Chief Executive Officer of the Company. “On behalf of the Board and the Energy Monster family, I would like to thank Xiaowei for his years of dedication and contribution to the Company, and we would all like to wish him the very best in his future endeavors,” said Mars Guangyuan Cai, Chairman and Chief Executive Officer. “At the same time, we are pleased to announce that Peifeng has been appointed to the President of the Company and will additionally lead the research and development effort for our mobile device charging business. We believe Peifeng’s operational expertise in conjunction with his clear understanding of market needs will allow Energy Monster to deliver hardware and software solutions tailored to the needs of our users and partners, which will further drive improvements to our efficiency and competitiveness.”
“We are excited to announce the extension of our share repurchase program,” said Maria Yi Xin, Chief Financial Officer. “We remain positive on the outlook of the Company especially given the recovery in our growth and profitability this year. The extension of the share repurchase program reiterates our confidence in the outlook of Energy Monster, as we remain committed to delivering value for our stakeholders.”
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, 2023, the Company had 8.0 million power banks in 1,109,000 POIs across more than 1,900 counties and county-level districts in China. Contact Us

Smart Share Global Limited Announces Extension of Share Repurchase Program and Changes to Management Team

Smart Share Global Limited Announces Second Quarter 2023 Results
5-day change
Today at 07:11 am
Net income reached RMB24.5 million for the second quarter of 2023
POIs1 operated under network partner model reached 62.0% as of the end of the second quarter of 2023
Number of POIs reached 1.1 million as of the end of the second quarter of 2023
SHANGHAI, China, Aug.  21, 2023  (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, 2023. HIGHLIGHTS FOR THE SECOND QUARTER OF 2023
Net income for the second quarter of 2023 was RMB24.5 million, compared to a net loss of RMB184.5 million in the same period last year. As of June 30, 2023, the Company’s services were available in 1,109 thousand POIs, compared with 1,001 thousand as of March 31, 2023. As of June 30, 2023, 62.0% of POIs were operated under our network partner model, compared with 58.8% as of March 31, 2023. As of June 30, 2023, the Company’s available-for-use power banks2 were 8.0 million, compared with 7.2 million as of March 31, 2023. As of June 30, 2023, cumulative registered users3 reached 362.5 million, with 15.4 million newly registered users acquired during the quarter. Mobile device charging orders4 for the second quarter of 2023 was 171.8 million, representing an increase of 24.1% compared to the same period last year. “We are pleased with the positive recovery trend during the second quarter of 2023 both in terms of our revenue and profitability,” said Mars Guangyuan Cai, Chairman and Chief Executive Officer. “Our core strategies of coverage expansion and operational optimization remain central to our business philosophy, allowing us to achieve market-leading growth and operational leverage. With our competitive advantages in place, we are able to leverage our advantages in our network effect to more rapidly consolidate market share. Going into the rest of 2023, we remain positive that we can continue delivering positive values to our stakeholders.”
“Both our direct and network partner models provide flexibility to the expansion of our POI network, continuously propelling Energy Monster’s operation to new heights and placing us in a position to best capture market opportunities,” said Peifeng Xu, Chief Operating Officer. “On one hand, our direct model continues to gain momentum as offline traffic continues to return to normal, allowing us to better capture the opportunities to expand into KAs. On the other hand, our network partner model allows us to more efficiently scale into more regions and diversify our POI composition. We believe that the swift execution and ability to acquire KAs for our direct model and the efficient and expansive reach of our network partner model provide the flexibility required to continue increasing our market share in the industry.”
“During the second quarter of 2023, we made an important change to our contractual arrangement with our network partners that further unlocks our growth potential under the network partner model,” said Maria Yi Xin, Chief Financial Officer. “We also continue to improve our operating efficiency on all fronts during the quarter with profitability continuously trending up. Notably, we were able to regain operating profit for the quarter with further improvements in the near future. We believe that the strength of our core mobile device charging operation’s financials and overall balance sheet serve as pillars to Energy Monster’s growth in the future.”
UPDATE IN CONTRACTUAL ARRANGEMENT
Starting in the second quarter of 2023, the Company has updated its contractual arrangement with its network partners under the network partner model, shifting the principal role of providing mobile device charging service from the Company to network partners. Under the new contractual arrangement, the Company generates revenue by providing mobile device charging solutions to network partners, including software and system service, billing and settlement service, customer call center service and other services. The ownership rights of cabinets and power banks under the network partner model, which were previously held by the Company, have also been transferred to the network partners under the new contractual arrangement. Starting in the second quarter of 2023, mobile device charging revenue generated under the network partner model has therefore been recorded under mobile device charging solution, which is now net of incentive fees paid to network partners. Additionally, all incentive fees paid to network partners will be excluded from the Company’s sales and marketing expenses going forward under the new contractual arrangement. Due to the new contractual arrangement, the Company now also generates revenue from cabinet and power bank sales to its network partners as a result of the shift in ownership rights of the cabinets and power banks under the network partner model from the Company to the network partner, and cost of cabinets and power banks sold to network partners will be recognized accordingly. Starting from the second quarter of 2023, the classification of revenue has been updated accordingly to more clearly reflect the results of the two mobile device charging models. The Company’s classification of mobile device charging operation now consists of the direct model and network partner model. Under the direct model, the Company generates revenue by offering mobile device charging service and sales of power banks to users. Under the network partner model, the Company generates revenue by offering mobile device charging solution and sales of power banks and cabinets to network partners. The table below sets forth the breakdown of mobile device charging revenue components based on the latest classification:

FINANCIAL RESULTS FOR THE SECOND QUARTER OF 2023
Revenues were RMB1.0 billion (US$142.8 million5) for the second quarter of 2023, representing a 50.0% increase from the same period in 2022. The increase was primarily due to the increase in mobile device charging revenues due to the change in the contractual arrangement with network partners. Mobile device charging revenues, which consist of revenues generated under both direct and network partner models, increased by 49.6% to RMB1.0 billion (US$141.5 million) for the second quarter of 2023, from RMB686.0 million in the same period of 2022. Revenues generated under the direct model, which comprise of mobile device charging service fee of RMB293.9 million and power bank sales of RMB6.8 million, decreased by 31.8% to RMB300.7 million for the second quarter of 2023, from RMB440.9 million in the same period of 2022. The decrease was primarily due to the decrease in number of POIs operated under the direct model. Revenues generated under the network partner model, which comprise of mobile device charging solution fee of RMB53.8 million and sales of cabinets and power banks of RMB671.8 million, increased by 196.1% to RMB725.6 million for the second quarter of 2023, from RMB245.1 million in the same period of 2022. The increase was primarily due to the addition of revenue generated from sales of cabinets and power banks as a result of the change in the contractual arrangement with network partners, which includes a one-time recognition of RMB500.6 million in sales of cabinets and power banks to network partners. Other revenues, which primarily comprise of revenue from advertising services and new business initiatives, increased by 107.8% to RMB9.4 million (US$1.3 million) for the second quarter of 2023, from RMB4.5 million in the same period of 2022. The increase was primarily attributable to the increase in user traffic from the general recovery in offline foot traffic in China during the second quarter of 2023 and the increase in advertisement efficiency. Cost of revenues increased by 310.5% to RMB668.5 million (US$92.2 million) for the second quarter of 2023, from RMB162.9 million in the same period last year. The increase was primarily due to the increase in sales of cabinets and power banks in relation to the shift in ownership rights of cabinets and power banks under the network partner model, which includes a one-time recognition of RMB455.8 million in cost of cabinets and power banks sold to network partners. The increase was partially offset by the decrease in depreciation cost. Research and development expenses decreased by 21.5% to RMB18.7 million (US$2.6 million) for the second quarter of 2023 from RMB23.7 million in the same period last year. The decrease was primarily due to the decrease in personnel related expenses. Sales and marketing expenses decreased by 55.6% to RMB295.2 million (US$40.7 million) for the second quarter of 2023 from RMB664.9 million in the same period last year. The decrease was primarily due to the decrease in incentive fees paid to network partners as a result of the change in the contractual arrangement with network partners and the decrease in incentive fees paid to location partners. General and administrative expenses increased by 9.3% to RMB31.1 million (US$4.3 million) for the second quarter of 2023 from RMB28.5 million in the same period last year. The increase was primarily due to the general decrease in efficiency of our operation. Income from operations for the second quarter of 2023 was RMB13.6 million (US$1.9 million), compared to a loss from operations of RMB191.0 million in the same period last year. Net income for the second quarter of 2023 was RMB24.5 million (US$3.4 million), compared to a net loss of RMB184.5 million in the same period last year. Adjusted net income6 for the second quarter of 2023 was RMB30.1 million (US$4.1 million), compared to an adjusted net loss of RMB177.5 million in the same period last year. Net income attributable to ordinary shareholders for the second quarter of 2023 was RMB24.5 million (US$3.4 million), compared to a net loss attributable to ordinary shareholders of RMB184.5 million in the same period last year. As of June 30, 2023, the Company had cash and cash equivalents, restricted cash and short-term investments of RMB3.2 billion (US$436.2 million). CONFERENCE CALL INFORMATION
The company will hold a conference call at 8:00 A.M. Eastern Time on Monday, August 21, 2023 (8:00 P.M. Beijing Time on Monday, August 21, 2023) to discuss the financial results. Upon registration, each participant will receive dial-in details to join the conference call. Event Title: Energy Monster Second Quarter 2023 Earnings Conference Call
Pre-registration link: https://s1.c-conf.com/diamondpass/10033014-fbu4m1.html
Participants may also access the call via webcast: https://edge.media-server.com/mmc/p/2stpb8co
A telephone replay will be available through August 28, 2023. The dial-in details are as follows:
International:
10033014
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, 2023, the Company had 8.0 million power banks in 1,109,000 POIs across more than 1,900 counties and county-level districts in China. CONTACT US
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; the risk that COVID-19 or other health risks in China or globally could adversely affect its operations or financial results; 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/(loss) 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/(loss) as net income/(loss) 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. ___________________________________
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 available-for-use power banks as of a certain date as the number of power banks in circulation on that day. 3 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. 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 30, 2023, which was RMB7.2513 to US$1.0000. The percentages stated in this press release are calculated based on the RMB amounts. 6 See the sections entitled “Non-GAAP Financial Measure” and “Unaudited Reconciliation of GAAP and Non-GAAP Results” in this press release for more information. Share

Smart Share Global Limited Announces Second Quarter 2023 Results

Funding Date

Pre-Money Valuation

Post-Money Valuation

Amount Raised

Shares Authorized

Issuance Price

Dividend Rate

Liquidation Preferences

Liquidation Price

Participation

Conversion Price

Anti Dilution

General Voting

Board Voting

Par Value

Companies in the Energy Storage space, including those developing and manufacturing energy storage solutions such as lithium-ion batteries, solid-state batteries, and related software for battery management.

Energy Storage

Seed VC

Series A

Series B

Series C

Series D - II

Energy Monster (NASDAQ: EM) is a consumer technology company. It provides mobile device charging services. It offers a mobile application that allows users to find and reserve charging stations and enables them to charge their devices at the nearest power banks. It was founded in 2017 and is based in Shanghai, China.

Name	Title	Status
Guangyuan Cai	Chief Executive Officer	Current
Subscribe to see more	Subscribe to see more	Subscribe to see more
Subscribe to see more	Subscribe to see more	Subscribe to see more
Subscribe to see more	Subscribe to see more	Subscribe to see more

Name	Guangyuan Cai	Subscribe to see more	Subscribe to see more	Subscribe to see more
Work History
Title	Chief Executive Officer	Subscribe to see more	Subscribe to see more	Subscribe to see more
Status	Current	Subscribe to see more	Subscribe to see more	Subscribe to see more

Wells Fargo Success Story

Professional Services

Platform Overview

Energy Monster

Executives

Energy Monster Management Team

4 Team Members