CMCM - Cheetah Mobile announces ADS ratio change effective from September 2

• Cheetah Mobile ( NYSE: CMCM ) will change the ratio of its American Depositary Share to Class A ordinary share from one (1) ADS representing ten (10) Shares to one (1) ADS representing fifty (50) Shares, effective September 2, 2022.
• For ADS holders, the change in the ADS ratio will have the same effect as a one-for-five reverse ADS split.
• Effective September 2, 2022, ADS holders will be required on a mandatory basis to surrender their old ADS to the depositary bank for cancellation at the rate of five (5) old ADSs for one (1) new ADS.
• The depositary bank will attempt to sell any fractional ADSs and distribute the cash proceeds.
• The ADS ratio change will have no impact on company's underlying ordinary shares.

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