공시 • Apr 30
Trustar Capital, Mars Guangyuan Cai, Peifeng Xu, Victor Yaoyu Zhang and Maria Yi Xin completed the acquisition of 83.10% stake in Smart Share Global Limited (NasdaqCM:EM). Trustar Capital, Mars Guangyuan Cai, Peifeng Xu, Victor Yaoyu Zhang and Maria Yi Xin proposed to acquire 83.10% stake in Smart Share Global Limited (NasdaqCM:EM) for approximately $260 million on January 5, 2025. Trustar Capital, Mars Guangyuan Cai, Peifeng Xu, Victor Yaoyu Zhang and Maria Yi Xin entered into a definitive Agreement to acquire 83.10% stake in Smart Share Global Limited on August 1, 2025. The buyer group proposed to acquire all of the outstanding ordinary shares of Smart Share Global Limited, including the Class A ordinary shares represented by the American Depositary Shares of the Company (the “ADSs”, each representing two Class A ordinary shares), that are not already beneficially owned by the Buyer Group for a proposed purchase price of $0.625 per Ordinary Share or $1.25 per ADS in cash. Smart Share Global will pay termination fee of $4.9 million in case of termination and consortium will pay termination fee of $9.8 million in case of termination. The transaction is subject to consummation of due diligence investigation and definitive agreement. The Board cautions the Company’s shareholders and others considering trading the Company’s securities that no decisions have been made with respect to this proposal. There can be no assurance that any definitive offer will be received, that any definitive agreement will be executed relating to the transaction contemplated by the proposal, or that the transaction contemplated by the proposal or any similar transaction will be approved or consummated. The transaction was approved by shareholders of Smart Share Global on December 12, 2025.
Kroll, LLC acted as its independent financial advisor and Haiping Li and ?Esq of Skadden, Arps, Slate, Meagher & Flom LLP as its U.S. legal counsel for Smart Share Global Limited. Miranda So and Xi Shi of Davis Polk & Wardwell LLP, Hong Kong Office acted as legal advisor to Trustar Capital. Maples and Calder (Hong Kong) LLP and Commerce & Finance Law Offices acted as legal advisors to special committee. Davis Polk & Wardwell LLP, Adé Heyliger, Charles Ching, Chris Welty and Graham Price of Weil, Gotshal & Manges LLP, Harney Westwood & Riegels and Haiwen & Partners acted as legal advisor to consortium.
Trustar Capital, Mars Guangyuan Cai, Peifeng Xu, Victor Yaoyu Zhang and Maria Yi Xin completed the acquisition of 83.10% stake in Smart Share Global Limited (NasdaqCM:EM) on April 29, 2026. New Risk • Apr 29
New major risk - Financial data availability The company's latest financial reports are more than a year old. Last reported fiscal period ended December 2024. This is considered a major risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. In the worst case scenario, it may be facing other major going concern issues jeopardizing its viability as a listed company. Currently, the following risks have been identified for the company: Major Risks Latest financial reports are more than 1 year old (reported December 2024 fiscal period end). Revenue has declined by 36% over the past year. 공시 • Apr 01
Smart Share Global Limited Receives Exception by Nasdaq Staff Related to Filing of Its Interim Report Smart Share Global Limited (Energy Monster or the Company), announced that it has been granted an exception by Nasdaq Staff regarding the filing of a Form 6-K containing an interim balance sheet and income statement for its fiscal half-year ended June 30, 2025 (the Interim Report). On January 14, 2026, Nasdaq Staff notified the Company that it did not comply with Nasdaq's filing requirements set forth in Listing Rule 5250(c)(1) (the Rule) because it had not filed the Interim Report. However, based on further review and the materials submitted by the Company, Nasdaq Staff has determined to grant an exception to enable the Company to regain compliance with the Rule. The terms of the exception require the Company to file the Interim Report on or before June 29, 2026, as required by the Rule. In the event that the Company does not satisfy the terms, Nasdaq Staff will issue written notification regarding the potential delisting of the Company's securities. At such time, the Company retains the right to appeal Nasdaq Staff's determination to a Hearings Panel. The Company is working towards filing the Interim Report and regaining compliance with the Rule on or before June 29, 2026. New Risk • Dec 31
New major risk - Revenue and earnings growth Revenue has declined by 36% over the past year. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If revenues are declining, then it is difficult for the company to prevent its earnings from declining as well. A trend of falling revenue can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Revenue has declined by 36% over the past year. Minor Risk Latest financial reports are more than 6 months old (reported December 2024 fiscal period end). New Risk • Nov 14
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. This is currently the only risk that has been identified for the company. Reported Earnings • Apr 30
Full year 2024 earnings released: CN¥0.053 loss per share (vs CN¥0.34 profit in FY 2023) Full year 2024 results: CN¥0.053 loss per share (down from CN¥0.34 profit in FY 2023). Revenue: CN¥1.89b (down 36% from FY 2023). Net loss: CN¥13.5m (down 115% from profit in FY 2023). Revenue is forecast to grow 2.7% p.a. on average during the next 2 years, compared to a 4.9% growth forecast for the Specialty Retail industry in the US. Over the last 3 years on average, earnings per share has increased by 132% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. 
