Earnings release
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怪兽 充电 ENERGY MONSTER Smart Share Global Limited Announces Third Quarter 2021 Results November 30 , 2021 Number of POIs¹ reached 820 thousand as of the end of the third quarter of 2021 Newly registered users² were 17.9 million during the third quarter of 2021 SHANGHAI , China , Nov. 30 , 2021 ( GLOBE NEWSWIRE ) -- Smart Share Global Limited ( " Energy Monster " or the " Company " ) , a consumer tech company providing mobile device charging service , today announced its unaudited financial results for the quarter ended September 30 , 2021 . HIGHLIGHTS FOR THE THIRD QUARTER OF 2021 • As of September 30 , 2021 , the Company's services were available in 820 thousand POIs , compared with 771 thousand as of June 30 , 2021 . • During the quarter , the Company launched its power bank optimization program that dynamically adjusts the suitable number of power banks in a given cabinet based on localized usage trends . As of September 30 , 2021 , the Company's available - for - use power banks³ were 5.8 million , compared with 6.0 million as of June 30 , 2021 . • As of September 30 , 2021 , cumulative registered users reached 273.0 million , with 17.9 million newly registered users acquired during the quarter . " The challenges set forth by the ongoing regional COVID - 19 outbreaks in China have brought challenges to our operations during the third quarter and will continue to impact the fourth quarter , " said Mars Guangyuan Cai , Chairman and Chief Executive Officer . " The outbreaks have country - wide impact as both affected and unaffected regions alike have experienced decreases in offline foot traffic and spending , resulting in a decline in traffic to our location partners . During these periods of volatility and external impact , we will dedicate more time to optimizing our internal management and operational structures in preparation for the eventual recovery from COVID - 19 . " " To better navigate ourselves during these special times , we have implemented a number of key initiatives to lessen our exposure to the volatility in offline foot traffic as a result of the COVID - 19 outbreaks , " said Peifeng Xu , Chief Operating Officer . " By accelerating the coverage of key accounts , launching new network partner campaigns and optimizing incentive fee structures for location partners , we believe we can come out of these challenging times as the clear market leader in China's mobile device charging industry , similar to how we overcame the challenges during the initial outbreak of COVID - 19 in early 2020. " " The COVID - 19 outbreaks have brought us short - term challenges financially , but we believe our efforts at optimizing our operations and controlling costs will alleviate the impact , ” said Maria Yi Xin , Chief Financial Officer . " We will leverage our healthy cash reserve to continue strengthening our competitive advantages and expanding our coverage of high - quality location partners . Once COVID - 19 outbreaks are fully contained in China , our competitive advantages will position us to capture the long - term growth in China's mobile device charging service industry . " FINANCIAL RESULTS FOR THE THIRD QUARTER OF 2021 Revenues were RMB930.0 million ( US $ 144.3 million 4 ) for the third quarter of 2021 , representing a 0.6 % increase from the same period in 2020. The increase was primarily due to the increase in revenues from power bank sales and other revenues . • Revenues from mobile device charging business was RMB895.4 million ( US $ 139.0 million ) for the third quarter of 2021 , compared to RMB895.5 million in the same period of 2020. The decrease was primarily attributable to the impact of COVID - 19 during the third quarter of 2021 . • Revenues from power bank sales increased by 14.0 % to RMB27.4 million ( US $ 4.3 million ) for the third quarter of 2021 from RMB24.0 million in the same period of 2020. The increase was primarily attributable to the increase in available- for - use power banks and the number of customers that purchased the power banks . • Revenues from other revenues , which mainly comprise of revenue from adverting services , increased by 47.5 % to RMB7.2 million ( US $ 1.1 million ) for the third quarter of 2021 from RMB4.9 million in the same period of 2020. The increase was primarily attributable to the increase in users , advertisement efficiency and new business initiatives . Cost of revenues increased by 20.6 % to RMB139.8 million ( US $ 21.7 million ) for the third quarter of 2021 from RMB115.9 million in the same period last year . The increase of cost of revenues was primarily due to the increase in operational scale resulting in increases in depreciation and maintenance cost . Research and development expenses increased by 66.2 % to RMB29.1 million ( US $ 4.5 million ) for the third quarter of 2021 from RMB17.5 million in the same period last year . The increase was primarily due to the increase in personnel related expenses . Sales and marketing expenses increased by 23.8 % to RMB814.0 million ( US $ 126.3 million ) for the third quarter of 2021 from RMB657.4 million in the same period last year . The increase was primarily due to the increase in incentive fees paid to location partners and network partners resulting