Cheetah Mobile plans to change the ADS exchange ratio

On August 23, 2022, the US -listed company Cheetah Mobile (CMCM.US) announced that the company plans to have the number of ADS (US deposit certificates) per share (US deposit certificate). Ordinary shares are changed to 10 ADS on behalf of 50 Acts A shares. The change rate is expected to take effect on September 2, 2022.

The change of ADS ratio does not affect the company's basic ordinary shares.

Cheetah Mobile received a letter on April 15, 2022, 2022, informing the company's ADS transaction price below compliance standards. According to the New York Stock Exchange Rules 802.01C, the company's average closing price within 30 consecutive trading days was less than $ 1.00, which was regarded as "below the standard". As of April 14, 2022, the average price of 30 trading days of the company's US deposit stocks was $ 0.98.

The company must restore its stock price and average stock price to more than $ 1 within six months after receiving the notice from the New York Stock Exchange. If the six -month remedy period expires, the closing price and the closing price of 1 US dollars and the last trading day of the remedy period of the last trading day will not reach the average closing price of 1 US dollar within 30 trading days. The New York Stock Exchange will be Start pause and delisting procedures.

Cheetah Mobile said that in order to solve this problem, it plans to monitor the market status of its listing securities and is still considering its choice.

As of the close of the Eastern Time on August 23, Cheetah Mobile reported $ 0.731, with a total market value of US $ 104 million.

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