Welcome to our dedicated page for Smart Share Global news (Ticker: EM), a resource for investors and traders seeking the latest updates and insights on Smart Share Global stock.
Smart Share Global Limited, also known as Energy Monster, is a consumer technology company that provides mobile device charging services in China and formerly traded on Nasdaq under the symbol EM. Its business is built around shared power banks placed in points of interest such as restaurants, entertainment venues, shopping centers, hotels, transportation hubs and public spaces, with users releasing devices from cabinets by scanning QR codes.
Company news has centered on annual reporting, Nasdaq filing-compliance notices, shareholder and merger matters, and the completed going-private transaction. The merger made Smart Share Global a wholly owned subsidiary of Mobile Charging Investment Limited, and the company said it would cease to be publicly traded.
Smart Share Global Limited, known as Energy Monster, reported a remarkable 52.9% year-over-year revenue increase in Q2 2021, reaching RMB972.4 million (US$150.6 million). Growth stemmed from a rise in POIs to 771,000 and an increase in registered users to 255.1 million. However, the net income fell to RMB8.2 million (US$1.3 million) from RMB29.9 million last year, with a reduced operating margin of 1.9%. The third-quarter revenue forecast is RMB900 million to RMB930 million, reflecting ongoing challenges from COVID-19.
Smart Share Global Limited, known as Energy Monster, announced it will release its unaudited second quarter 2021 financial results on August 23, 2021, prior to U.S. market opening. A conference call will be held at 8:00 A.M. ET on the same day for discussion of the results, accessible via multiple international numbers and a webcast. Energy Monster was the largest provider of mobile device charging services in China, holding a 34.4% market share in 2020, with 5.6 million power banks available at 716,000 points of interest.
Smart Share Global Limited, known as Energy Monster, reported a significant 162.5% increase in revenues for Q1 2021, totaling RMB846.9 million (US$129.3 million). This growth is attributed to a surge in mobile device charging services, with operational income of RMB23.8 million (US$3.6 million) compared to a loss in the previous year. The number of Points of Interest (POIs) reached 716,000, while registered users grew to 235.8 million. The company forecasts Q2 revenues between RMB940 million and RMB970 million.
Smart Share Global Limited, known as Energy Monster, will release its unaudited Q1 2021 financial results on May 19, 2021, before U.S. markets open. A conference call will follow at 08:00 A.M. ET to discuss these results. Smart Share, a leading mobile device charging service provider in China, holds a 34.4% market share and operates over 5.4 million power banks across more than 1,500 locations. This strategic positioning underscores the company's significant presence in the consumer tech market.
Smart Share Global Limited, known as Energy Monster, has announced the pricing of its initial public offering (IPO) of 17,650,000 American Depositary Shares (ADSs) at $8.50 each, totaling approximately $150 million. The ADSs are set to trade on the Nasdaq under the ticker symbol EM starting April 1, 2021, with the offering expected to close on April 6, 2021. Underwriters have an option to purchase an additional 2,647,500 ADSs within 30 days of the final prospectus. Energy Monster is recognized as the largest mobile device charging service provider in China by gross revenue.