Smart Share Global Ltd

CIK:0001834253|SEC Filings

CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS)/INCOME ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2024 CNY (¥) ¥ / shares shares	Dec. 31, 2024 USD ($) $ / shares shares	Dec. 31, 2023 CNY (¥) ¥ / shares shares	Dec. 31, 2022 CNY (¥) ¥ / shares shares
Revenues
Total revenues	¥ 1,894,420	$ 259,534	¥ 2,958,647	¥ 2,838,190
Cost of revenues	(1,090,787)	(149,437)	(1,206,191)	(573,235)
Gross profit	803,633	110,097	1,752,456	2,264,955
Research and development expenses	(82,882)	(11,355)	(91,461)	(90,655)
Sales and marketing expenses	(623,867)	(85,469)	(1,506,600)	(2,715,132)
General and administrative expenses	(150,196)	(20,577)	(128,036)	(113,771)
Other operating income/(loss)	(17,856)	(2,446)	(25,908)	9,972
(Loss)/income from operations	(71,168)	(9,750)	451	(644,631)
Interest and investment income	112,976	15,478	117,247	52,389
Interest expense to third parties	0	0	(4,228)	(31,282)
Foreign exchange gains/(losses), net	(3,767)	(516)	(3,255)	3,787
Other (loss)/income, net	169	23	63	(413)
(Loss)/income before income tax expense	38,210	5,235	110,278	(620,150)
Income tax expense	(51,744)	(7,089)	(21,534)	(110,603)
Net (loss)/income	(13,534)	(1,854)	88,744	(730,753)
Net (loss)/income attributable to ordinary shareholders of Smart Share Global Limited	(13,534)	(1,854)	88,744	(730,753)
Net (loss)/income	(13,534)	(1,854)	88,744	(730,753)
Other comprehensive income
Foreign currency translation adjustments, net of nil tax	19,777	2,709	18,896	112,372
Total comprehensive (loss)/income	6,243	855	107,640	(618,381)
Comprehensive (loss)/income attributable to ordinary shareholders of Smart Share Global Limited	¥ 6,243	$ 855	¥ 107,640	¥ (618,381)
Income/(Loss) per share
Net (loss)/income per share - basic \| (per share)	¥ (0.03)	$ 0	¥ 0.17	¥ (1.41)
Net (loss)/income per share - diluted \| (per share)	¥ (0.03)	$ 0	¥ 0.17	¥ (1.41)
Weighted average number of ordinary shares
Weighted average number of ordinary shares outstanding - basic	511,369,585	511,369,585	519,802,240	518,307,406
Weighted average number of ordinary shares outstanding - diluted	511,369,585	511,369,585	519,802,240	518,307,406
Mobile device charging
Revenues
Total revenues	¥ 1,384,695	$ 189,702	¥ 2,869,215	¥ 2,813,619
Cost of revenues	(663,188)	(90,857)	(1,151,190)	(559,706)
Mobile device charging service
Revenues
Total revenues	353,097	48,374	1,577,379	2,754,143
Mobile device charging solution
Revenues
Total revenues	249,842	34,228	173,152	0
Power banks, cabinets and other related assets sales
Revenues
Total revenues	781,756	107,100	1,118,684	59,476
Photovoltaic business
Revenues
Total revenues	479,850	65,739	50,995	0
Cost of revenues	(424,326)	(58,132)	(51,928)	0
Others
Revenues
Total revenues	29,875	4,093	38,437	24,571
Cost of revenues	¥ (3,273)	$ (448)	¥ (3,073)	¥ (13,529)

CONSOLIDATED STATEMENTS OF CASH FLOWS ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2024 CNY (¥)	Dec. 31, 2024 USD ($)	Dec. 31, 2023 CNY (¥)	Dec. 31, 2022 CNY (¥)
Cash flows from operating activities:
Net (loss)/income	¥ (13,534)	$ (1,854)	¥ 88,744	¥ (730,753)
Adjustments for:
Depreciation and amortization expense	151,313	20,730	257,630	421,345
Amortization of right-of-use assets	6,558	898	17,672	27,716
Allowance for credit losses	45,705	6,262	9,188	4,803
Impairments of property, equipment and software	4,199	575	2,588	21,560
Inventory write-downs	6,042	828	12	9,273
Change in fair value of derivative instruments	0	0	(2,592)	2,592
Foreign exchange (gains)/losses	3,767	516	3,255	(3,787)
Change in fair value of short-term investments	3,774	517	(14,639)	(12,539)
Share-based compensation expenses	19,781	2,710	20,339	28,245
Deferred income taxes	19,782	2,710	12,695	(69,304)
Amortization of entry fees	66,037	9,047	64,863	217,819
Loss on disposal of property, equipment and software	17,912	2,454	13,945	21,303
Gain on derecognition of financing payable and accounts payable	0	0	0	(21,669)
Amortization and impairment of prepayments to location partners	49,083	6,724	112,465	356,165
Changes in assets and liabilities:
Accounts and notes receivable	(58,158)	(7,968)	(260,112)	586
Prepayments and other current assets	18,344	2,513	(211,741)	29,642
Inventory	(8,374)	(1,147)	306,837	(5,951)
Contract assets	(259,594)	(35,564)	0	0
Long-term prepayment to a related party	0	0	71	0
Other non-current assets	1,344	184	(11,798)	(127,160)
Accounts and notes payable	(227,277)	(31,136)	(27,376)	139,723
Salary and welfare payable	(17,213)	(2,358)	32,377	(9,177)
Tax payable	(23,092)	(3,164)	79,211	211,789
Financing payable	0	0	(94,294)	21,937
Accruals and other current liabilities	(29,573)	(4,051)	28,057	25,368
Other non-current liabilities	24,984	3,423	6,261	172,834
Lease liabilities	(7,479)	(1,026)	(17,159)	(24,218)
Net cash generated from/(used in) operating activities	(205,669)	(28,177)	416,499	708,142
Cash flows from investing activities:
Purchase of property, equipment and software from third parties	(9,413)	(1,290)	(182,010)	(439,554)
Purchase of property, equipment and software from a related party	0	0	0	(3,324)
Proceeds from disposal of property and equipment	9,772	1,339	7,312	3,710
Purchase of short-term investments	(4,781,138)	(655,013)	(7,277,115)	(7,689,412)
Proceeds from maturities of short-term investments	5,200,360	712,446	6,853,278	7,104,583
Net cash (used in)/generated from investing activities	419,581	57,482	(598,535)	(1,023,997)
Cash flows from financing activities:
Proceeds of financing from network partners	0	0	208	1,758
Repayment of financing to network partners	0	0	(14,467)	(60,478)
Payment of dividends	(54,869)	(7,517)	0	0
Repurchase of Class A ordinary shares	(44,355)	(6,077)	(13,703)	(19,738)
Proceeds from exercise of options	20	3	6	4
Net cash used in financing activities	(99,204)	(13,591)	(27,956)	(78,454)
Effect of exchange rate changes on cash and cash equivalents and restricted cash	3,108	427	7,501	42,095
Net (decrease)/increase in cash and cash equivalents and restricted cash	117,816	16,141	(202,491)	(352,214)
Cash and cash equivalents and restricted cash at the beginning of year	781,890	107,118	984,381	1,336,595
Cash and cash equivalents and restricted cash at the end of year	899,706	123,259	781,890	984,381
Supplemental disclosures of cash flow information:
Cash paid for income taxes	33	5	458	0
Cash paid for interest to third parties	0	0	1,334	9,260
Supplemental disclosures of non-cash investing and financing activities:
Changes in property, equipment and software in accounts and notes payable	0	0	(39,061)	43,788
Changes in property, equipment and software in other non-current assets	0	0	2,421	4,882
Changes in property, equipment and software in amounts due to a related party	0	0	0	(23,290)
Changes in property, equipment and software in long-term prepayment to a related party	0	0	0	19,965
Reclassification of inventory to property, equipment and software	130,583	17,890	315,204	0
Reclassification of property, equipment and software to inventory	¥ 140,010	$ 19,181	¥ 727,531	¥ 0

CONSOLIDATED BALANCE SHEETS ¥ in Thousands, $ in Thousands	Dec. 31, 2024 CNY (¥)	Dec. 31, 2024 USD ($)	Dec. 31, 2023 CNY (¥)
Current assets:
Cash and cash equivalents	¥ 787,375	$ 107,870	¥ 588,644
Restricted cash	92,331	12,649	173,246
Short-term investments	2,131,738	292,047	2,541,889
Accounts receivable, net	283,167	38,794	268,743
Inventory	118,288	16,205	106,530
Contract assets	259,518	35,554	0
Prepayments and other current assets	276,768	37,917	339,251
Total current assets	3,949,185	541,036	4,018,303
Non-current assets:
Long-term restricted cash	20,000	2,740	20,000
Property, equipment and software, net	139,425	19,101	322,806
Right-of-use assets	8,814	1,208	16,353
Other non-current assets	7,754	1,062	20,469
Deferred tax assets, net	2,382	326	22,165
Total non-current assets	178,375	24,437	401,793
Total assets	4,127,560	565,473	4,420,096
Current liabilities:
Accounts and notes payable	563,432	77,190	767,669
Salary and welfare payable (including salary and welfare payable of the consolidated variable interest entities ("VIEs") without recourse to the Company of RMB 731 and RMB 1,144 as of December 31, 2023 and 2024, respectively (Note 1))	126,441	17,322	143,653
Tax payable (including tax payable of the VIEs without recourse to the Company of RMB8,003 and RMB3,987 as of December 31, 2023 and 2024, respectively (Note 1))	207,542	28,433	230,763
Current portion of lease liabilities	1,291	177	7,399
Accruals and other current liabilities (including accruals and other current liabilities of the VIEs without recourse to the Company of RMB 13 and RMB 13 as of December 31, 2023 and 2024, respectively (Note 1))	345,478	47,330	336,959
Total current liabilities	1,244,184	170,452	1,486,443
Non-current liabilities:
Long term lease liabilities	5,285	724	7,641
Total non-current liabilities	226,855	31,079	204,226
Total liabilities	1,471,039	201,531	1,690,669
Commitments and contingencies (Note 16)
Shareholders' equity:
Treasury shares (7,721,582 and 19,789,656 shares as of December 31, 2023 and 2024, respectively)	(45,812)	(6,276)	(5,549)
Additional paid-in capital	11,752,684	1,610,111	11,791,570
Statutory reserves	17,057	2,337	16,593
Accumulated other comprehensive income	202,601	27,756	182,824
Accumulated deficit	(9,270,356)	(1,270,034)	(9,256,358)
Total shareholders' equity	2,656,521	363,942	2,729,427
Total liabilities and shareholders' equity	4,127,560	565,473	4,420,096
Related Party
Non-current liabilities:
Other non-current liabilities	1,000	137	1,000
Nonrelated Party
Non-current liabilities:
Other non-current liabilities	220,570	30,218	195,585
Class A ordinary shares
Shareholders' equity:
Ordinary shares	296	41	296
Class B ordinary shares
Shareholders' equity:
Ordinary shares	¥ 51	$ 7	¥ 51