NYSE:CMCM Cheetah Mobile Q3 2024 Earnings Report $3.80 -0.13 (-3.31%) As of 12:18 PM Eastern This is a fair market value price provided by Polygon.io. Learn more. Earnings History Cheetah Mobile EPS ResultsActual EPS-$0.20Consensus EPS N/ABeat/MissN/AOne Year Ago EPSN/ACheetah Mobile Revenue ResultsActual RevenueN/AExpected RevenueN/ABeat/MissN/AYoY Revenue GrowthN/ACheetah Mobile Announcement DetailsQuarterQ3 2024Date12/17/2024TimeBefore Market OpensConference Call DateTuesday, December 17, 2024Conference Call Time6:00AM ETUpcoming EarningsCheetah Mobile's Q1 2025 earnings is scheduled for Friday, June 6, 2025, with a conference call scheduled at 7:00 AM ET. Check back for transcripts, audio, and key financial metrics as they become available.Conference Call ResourcesConference Call AudioConference Call TranscriptPress Release (8-K)Earnings HistoryCompany ProfilePowered by Cheetah Mobile Q3 2024 Earnings Call TranscriptProvided by QuartrDecember 17, 2024 ShareLink copied to clipboard.There are 5 speakers on the call. Operator00:00:00Good day, and welcome to the Cheetah Mobile Third Quarter 20 24 Earnings Conference Call. All participants will be in listen only mode. After today's presentation, there will be an opportunity to ask questions. Please note today's event is being recorded. I would now like to turn the conference over to Helen Jing Zhu, IR for Cheetah Mobile. Operator00:00:35Please go ahead. Speaker 100:00:37Thank you, operator. Welcome to Cheetah Mobile's Q3 2024 Earnings Conference Call. With us today are our company's Chairman and CEO, Mr. Fu Sheng and our Director and CFO, Mr. Thomas Jin. Speaker 100:00:54Following management's prepared remarks, we will conduct the Q and A section. Please note that the CEO's script will be presented by an AI agent. Before we begin, I refer you to the Safe Harbor statement in our earnings release, which also applies to our earnings conference call today as we will make forward looking statements. At this time, I will now turn the call over to our CEO, Mr. Fu Sheng. Speaker 100:01:24Please go ahead, Fusheng. Speaker 200:01:27Hello, everyone. Thank you for joining us today. Qida Mobile once again achieved accelerated revenue growth in Q3, driven by our service robotics and Internet businesses. This consistent growth results from our strategies to expand the use cases of our wheeled service robotics and expand into overseas markets, as well as the resilience of our legacy intranet business. Industry demand for service robots continues to rise, especially in the overseas markets and in restaurants, hotels, factories and offices. Speaker 200:02:05Business owners are using robots more often to help their staff and improve efficiency. In the past weeks, I visited many customers and partners in Europe and associations Asia. In fact, I am still in Europe today meeting with our local customers to further strengthen our presence, building a strong local distribution network is very important for our global expansion as it was set as a part from our peers. That's why I have spent significant effort on this initiative. During my conversations with local partners, I learned that our robots are helping themselves leave shortages. Speaker 200:02:44Some customers in Europe shared that using Cheetah's robots have reduced employee absences and turnover. Meanwhile, some Japanese customers told us our robots are much more reliable than other players offerings and are switching to our products. In September, we launched a new robot for factory and fulfillment center use. This robot can autonomously deliver goods to move low payload items from transit warehouses to assembly lines. We are currently optimizing the product to better meet the needs of customers in overseas markets. Speaker 200:03:21This highlights the importance of receiving feedback and input from local partners. We believe this product will become an important part of our service robotics business in 2025. While the robotics industry is still in its early stages, it will be a $1,000,000,000,000 market. Robots are becoming essential hoppers for humans and will happen in developed markets first. And LMs will speed up this growth by enabling robots to do more tasks and making them easier to deploy than ever before. Speaker 200:03:52Through our conversations with investors, we've noticed a lot of interest in how LMs are making our robots smarter and driving steady revenue growth. Today, I will share what we've achieved so far with LMs in our products and what's coming next. First, we are using LMs to improve the way our service robots interact through voice thanks to our strong far field voice recognition. Our robots already hear users well. Now with LMs, we understand users' questions more clearly and respond better, making the overall experience much smoother. Speaker 200:04:33For instance, in restaurants, our robots don't just deliver food during busy hours, they can also help attract customers, boosting the return on investment for restaurant owners by taking on more roles. And because LMs break down language barriers, we are expanding these voice enabled robots to international markets. We are also working on HNU is a system that lets customers set up tasks for robots using voice prompts. For example, you can tell a robot to check each table at 2 pm to see if anyone wants to order more food before the kitchen closes at 2:30 pm, the robot will go to each table, skip the ones with our customers and even allow people to place orders if the ordering system is late without ALMs. This kind of functionality would be nearly impossible or would require writing a lot of complicated code. Speaker 200:05:30Secondly, we are using multi modality models to improve our robot indoor autonomous driving. One area that we are working is to enable our robots to map out the large factory as they move and look around once the map is ready. Our MV team can mark key locations and the robots can then navigate the factory on their own to deliver goods. Factory owners want to change these key locations. They can easily update the map whenever needed. Speaker 200:06:00Based on our initial testing, thanks to LMs, the time it takes to set up our robots can dramatically reduce from about 2 days to just 2 hours. We are already using vision based autonomous driving technology in some cases and plan to expand it further. For instance, our robots use vision based autonomous driving technology to avoid keyboard and obstacles and understand their surroundings. Over time, we aim to achieve an end to end navigation system. This will allow our robots to handle more complex environments entirely on their own. Speaker 200:06:373rd, we're adding robotic arms to our robots to help them do specific jobs. Some of these arms can press buttons, which is useful for delivering things between floors, in particular in the overseas markets, where business owners are reluctant to adjust the elevator access control systems due to security concerns. Others can pick up and sort items, which is great for use in factories. These arms are powered by on device multi modality models, making it easier to automate routine tasks. When it comes to LMs, we use advanced models through API calls to support some of the features we have discussed. Speaker 200:07:19At the same time, we are also developing our own models. In November, we launched an 8x7000000000 mixture of experts model covering many languages, including Chinese, English, Korean and Japanese. We have made it open source and use it to power our robots, especially the agent OS features. Additionally, we have trained smaller own device models to support indoor autonomous driving and control robotic arms. Turning to ALM based applications. Speaker 200:07:53We recently introduced AirDx, an eye based data service platform, assisting enterprises in data and building prompts for their LM based application. ARTS was built on top of our insights into developing LMs and LM based apps. So far, we have received positive customer feedback on our LM based application and we will continue to enrich our portfolio. Our goal is to offer relatively standardized SaaS products, allowing businesses to use LMS gain efficiency. Before handing the call over to Thomas for the financial highlights, I want to stress this Cheetah Mobile is in a good position to tap into the growing markets for service robots and LM based apps We've been years of experience on the PC and mobile phone areas as well as expanding into international markets and we have strong LM expertise. Speaker 200:08:57We've already made solid progress in growing our revenue and cutting losses. This is just the beginning of Cheetah Mobile's turnaround. Speaker 300:09:08Thank you, Fusheng. Hello, everyone on the call. Please note that unless stated otherwise, all money amounts are in RMB terms. In Q3, 2024, our financial results demonstrated solid execution on 2 strategic objectives. Number 1, accelerating revenue growth driven by both the sales of robots and the legacy internet businesses and number 2, enhancing our operational efficiency to reduce our operating losses sequentially. Speaker 300:09:45In the Q3 of 2024, our total revenues increased 16.6% year over year, marking the 2nd consecutive quarter of accelerating revenue growth compared to 11.6% in Q1 and 12.3% in Q2. Our view based service robots continue to be a key driver of growth. Additionally, our legacy Internet business remains resilient, achieving solid revenue growth and margin expansion. On profitability, we made further progress. Non GAAP gross profit rose 14% year over year and 7% quarter over quarter to RMB 131 1,000,000 with non GAAP gross margin expanding to 68% in the 3rd quarter from 65% in Q2 and 63% in Q1. Speaker 300:10:54Non GAAP operating loss was RMB61 1,000,000 in the quarter, reduced from RMB63 1,000,000 in Q2 RMB66 1,000,000 in Q1. We continue to focus on managing costs and expenses. Notably, we consolidated the teams of Cheetah and Beijing Orion Star, streamlining staff and services with overlapping functions. For example, in Q3, we reduced unpaid costs and club costs, professional and legal service fees, and certain labor costs related to G and A and operations. We are also decisively investing in AI, using AI to enhance our service robotic business. Speaker 300:11:45For example, our non GAAP R and D expenses increased 25% quarter over quarter in Q3 and now about 60% of our revenues are invested in R and D. As Fu Sheng has said in the past, while we focus on developing products that generate immediate revenue and profits, we remain attentive to the latest technological advancements. Another highlight is the continued strength of our legacy internet business, which grew 26% year over year and 18% quarter over quarter. Operating margin excluding share based compensation expense for this segment improved to 10% from 6% last year. As of September 30, 2024, we maintained a strong balance sheet with cash and cash equivalents of $1,831,000,000 or US218 million dollars long term investments of about US886 million dollars or US126 million dollars In closing, we are making solid progress in expanding revenues and narrowing losses. Speaker 300:13:18We are confident in our investments in AI because we see the significant market potential of integrating our arms into our service robotics business. At the same time, we remain disciplined in reducing losses and driving efficiency in our AI operations. Thank you. This concludes our prepared remarks. Operator, we are now ready for the Q and A session. Operator00:13:49Thank you. And we will now begin the question and answer session. Speaker 100:14:16Everyone, for today's call, management will answer questions in Chinese and an AI agent will translate management's comments into English in another line. Please note that the translation is for convenience purpose only. In the case of any discrepancy or management statement in Chinese works well. If you are unable to hear the Chinese translation, I think our transcript in English will be available on our IR website as soon as we can. Operator, we are now ready to take questions. Speaker 100:14:47Thank you so much. Operator00:14:49Thank you. Moving the first question and it's from Thomas Chong at Jefferies. Please go ahead. Speaker 400:15:14Thanks management for taking my question and good evening. My question is about Cheetah Global Business. In 2025, what are our goals in terms of volume, revenue growth and revenue contribution from the robot business? Thank you. Speaker 100:17:29Thank you. Operator, can we move to the next question please? Operator00:17:34Yes. Our next question comes from Vicky Wei at Citi. Please go ahead. Speaker 100:19:55Thank you. Thank you. Please move to the next question please. Operator00:20:07Thank you. Our next question comes from Yanlong Chen with CITIC Securities. Please go ahead. Speaker 100:28:07Operator, please move to the next question please. Operator00:28:11Thank you. Our next question comes from Yani Su with Haitai Securities. Please go ahead. Speaker 100:30:36Operator, please move to the next question please. Operator00:30:40Thank you. Our next question comes from Suri Yin with CLAM Securities. Please go ahead. Speaker 100:34:39Operator, please move to the next question. Thank you. Operator00:34:43Thank you. Our next question comes from Yi Zhu with Founder Securities. Please go ahead. Speaker 100:39:08Operator, please move to the next question, please. Thank you. Operator00:39:12No problem. And our next question comes from Binxiang Wu with TF Global. Please go ahead. Speaker 100:42:34Thank you. Operator, please move to the next question. Operator00:42:39Thank you. Our next question comes from Alex Wong with SDICS International. Please go ahead. Speaker 100:47:59Thank you. Please move to the next question please. Operator00:48:04Thank you. Our next question today comes from Yungping Biao with Gautai Junan Securities. Please go ahead. Speaker 300:48:14Hi, management. Thanks for taking my question. And we have noticed that you have large amount of net cash on your balance sheet. So do you have any plan of dividend distribution or share repurchase in the future? Thank Speaker 200:48:31you. Speaker 100:50:13Operator, please move to the next question. Operator00:50:16Thank you. Our next question comes from Gigi Zhao with GS Securities. Please go ahead. Speaker 100:54:02Thank you. Operator, please move to the next question. Operator00:54:06Thank you. Our next question comes from Joanna Ma with CMBI. Please go ahead. Speaker 100:56:39Operator, please move to the next question please. Operator00:56:43Thank you. Our next question comes from Chengdu Li with William Securities. Please go ahead. Speaker 101:00:59Thank you. Operator, if we have no further questions, we can just conclude the Q and A section. Operator01:01:08We have no further questions, ma'am. Speaker 101:01:12Okay. And so thank you so much for joining Cheetah Mobile's Q3 2024's 20 24 earnings conference call. If you have any further questions, please do not hesitate to reach out to our IR team. Thank you so much. Bye bye. Operator01:01:28Thank you. This concludes today's conference call. We thank you all for attending today's presentation. You may now disconnect your lines and have a wonderful day.Read morePowered by Conference Call Audio Live Call not available Earnings Conference CallCheetah Mobile Q3 202400:00 / 00:00Speed:1x1.25x1.5x2x Earnings DocumentsPress Release(8-K) Cheetah Mobile Earnings HeadlinesCheetah Mobile Inc.'s (NYSE:CMCM) largest shareholders are public companies with 61% ownership, individual investors own 25%April 15, 2025 | finance.yahoo.comCheetah Mobile Files 2024 Annual Report on Form 20-FApril 15, 2025 | prnewswire.com$2 Trillion Disappears Because of Fed's Secretive New Move$2 trillion has disappeared from the US government's books. The reason why is a new, secretive move being carried out by the Fed that has nothing to do with lowering or raising interest rates... but could soon have an enormous impact on your wealth.April 28, 2025 | Stansberry Research (Ad)Cheetah Mobile falls -10.0%March 28, 2025 | msn.comCheetah Mobile Inc. (CMCM) Q4 2024 Earnings Call TranscriptMarch 27, 2025 | seekingalpha.comQ4 2024 Cheetah Mobile Inc Earnings Call TranscriptMarch 27, 2025 | gurufocus.comSee More Cheetah Mobile Headlines Get Earnings Announcements in your inboxWant to stay updated on the latest earnings announcements and upcoming reports for companies like Cheetah Mobile? Sign up for Earnings360's daily newsletter to receive timely earnings updates on Cheetah Mobile and other key companies, straight to your email. Email Address About Cheetah MobileCheetah Mobile (NYSE:CMCM) along with its subsidiaries, engages in provision of internet services, artificial intelligence, and other services in the People's Republic of China, Hong Kong, Japan, and internationally. The company's internet products include Duba Anti-virus, an internet security application to protect users against known and unknown security threats and malicious applications; and Clean Master, a junk file cleaning, memory boosting, and privacy protection tool for mobile devices. It also offers value-added products, such as PC and mobile products, as well as wallpaper, office optimization software, and others; E-Coupon vending robot, a delivery and reception robot, which includes marketing campaigns and services; and multi-cloud management platform and overseas advertising agency service. In addition, the company provides mobile advertising services; duba.com personal start page that aggregates online resources and provides users access to their online destinations, such as online shopping, video, online game, travel, and local information; artificial intelligence and other services; and premium membership services. It serves mobile advertising networks and partners, e-commerce companies, mobile application developers, and mobile game developers, as well as individual customers. The company was formerly known as Kingsoft Internet Software Holdings Limited and changed its name to Cheetah Mobile Inc. in March 2014. Cheetah Mobile Inc. was incorporated in 2009 and is based in Beijing, the People's Republic of China.View Cheetah Mobile ProfileRead more More Earnings Resources from MarketBeat Earnings Tools Today's Earnings Tomorrow's Earnings Next Week's Earnings Upcoming Earnings Calls Earnings Newsletter Earnings Call Transcripts Earnings Beats & Misses Corporate Guidance Earnings Screener Earnings By Country U.S. Earnings Reports Canadian Earnings Reports U.K. Earnings Reports Latest Articles Alphabet Rebounds After Strong Earnings and Buyback AnnouncementMarkets Think Robinhood Earnings Could Send the Stock UpIs the Floor in for Lam Research After Bullish Earnings?Texas Instruments: Earnings Beat, Upbeat Guidance Fuel RecoveryMarket Anticipation Builds: Joby Stock Climbs Ahead of EarningsIs Intuitive Surgical a Buy After Volatile Reaction to Earnings?Seismic Shift at Intel: Massive Layoffs Precede Crucial Earnings Upcoming Earnings AstraZeneca (4/29/2025)Booking (4/29/2025)DoorDash (4/29/2025)Honeywell International (4/29/2025)Mondelez International (4/29/2025)PayPal (4/29/2025)Regeneron Pharmaceuticals (4/29/2025)Starbucks (4/29/2025)American Tower (4/29/2025)América Móvil (4/29/2025) Get 30 Days of MarketBeat All Access for Free Sign up for MarketBeat All Access to gain access to MarketBeat's full suite of research tools. 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There are 5 speakers on the call. Operator00:00:00Good day, and welcome to the Cheetah Mobile Third Quarter 20 24 Earnings Conference Call. All participants will be in listen only mode. After today's presentation, there will be an opportunity to ask questions. Please note today's event is being recorded. I would now like to turn the conference over to Helen Jing Zhu, IR for Cheetah Mobile. Operator00:00:35Please go ahead. Speaker 100:00:37Thank you, operator. Welcome to Cheetah Mobile's Q3 2024 Earnings Conference Call. With us today are our company's Chairman and CEO, Mr. Fu Sheng and our Director and CFO, Mr. Thomas Jin. Speaker 100:00:54Following management's prepared remarks, we will conduct the Q and A section. Please note that the CEO's script will be presented by an AI agent. Before we begin, I refer you to the Safe Harbor statement in our earnings release, which also applies to our earnings conference call today as we will make forward looking statements. At this time, I will now turn the call over to our CEO, Mr. Fu Sheng. Speaker 100:01:24Please go ahead, Fusheng. Speaker 200:01:27Hello, everyone. Thank you for joining us today. Qida Mobile once again achieved accelerated revenue growth in Q3, driven by our service robotics and Internet businesses. This consistent growth results from our strategies to expand the use cases of our wheeled service robotics and expand into overseas markets, as well as the resilience of our legacy intranet business. Industry demand for service robots continues to rise, especially in the overseas markets and in restaurants, hotels, factories and offices. Speaker 200:02:05Business owners are using robots more often to help their staff and improve efficiency. In the past weeks, I visited many customers and partners in Europe and associations Asia. In fact, I am still in Europe today meeting with our local customers to further strengthen our presence, building a strong local distribution network is very important for our global expansion as it was set as a part from our peers. That's why I have spent significant effort on this initiative. During my conversations with local partners, I learned that our robots are helping themselves leave shortages. Speaker 200:02:44Some customers in Europe shared that using Cheetah's robots have reduced employee absences and turnover. Meanwhile, some Japanese customers told us our robots are much more reliable than other players offerings and are switching to our products. In September, we launched a new robot for factory and fulfillment center use. This robot can autonomously deliver goods to move low payload items from transit warehouses to assembly lines. We are currently optimizing the product to better meet the needs of customers in overseas markets. Speaker 200:03:21This highlights the importance of receiving feedback and input from local partners. We believe this product will become an important part of our service robotics business in 2025. While the robotics industry is still in its early stages, it will be a $1,000,000,000,000 market. Robots are becoming essential hoppers for humans and will happen in developed markets first. And LMs will speed up this growth by enabling robots to do more tasks and making them easier to deploy than ever before. Speaker 200:03:52Through our conversations with investors, we've noticed a lot of interest in how LMs are making our robots smarter and driving steady revenue growth. Today, I will share what we've achieved so far with LMs in our products and what's coming next. First, we are using LMs to improve the way our service robots interact through voice thanks to our strong far field voice recognition. Our robots already hear users well. Now with LMs, we understand users' questions more clearly and respond better, making the overall experience much smoother. Speaker 200:04:33For instance, in restaurants, our robots don't just deliver food during busy hours, they can also help attract customers, boosting the return on investment for restaurant owners by taking on more roles. And because LMs break down language barriers, we are expanding these voice enabled robots to international markets. We are also working on HNU is a system that lets customers set up tasks for robots using voice prompts. For example, you can tell a robot to check each table at 2 pm to see if anyone wants to order more food before the kitchen closes at 2:30 pm, the robot will go to each table, skip the ones with our customers and even allow people to place orders if the ordering system is late without ALMs. This kind of functionality would be nearly impossible or would require writing a lot of complicated code. Speaker 200:05:30Secondly, we are using multi modality models to improve our robot indoor autonomous driving. One area that we are working is to enable our robots to map out the large factory as they move and look around once the map is ready. Our MV team can mark key locations and the robots can then navigate the factory on their own to deliver goods. Factory owners want to change these key locations. They can easily update the map whenever needed. Speaker 200:06:00Based on our initial testing, thanks to LMs, the time it takes to set up our robots can dramatically reduce from about 2 days to just 2 hours. We are already using vision based autonomous driving technology in some cases and plan to expand it further. For instance, our robots use vision based autonomous driving technology to avoid keyboard and obstacles and understand their surroundings. Over time, we aim to achieve an end to end navigation system. This will allow our robots to handle more complex environments entirely on their own. Speaker 200:06:373rd, we're adding robotic arms to our robots to help them do specific jobs. Some of these arms can press buttons, which is useful for delivering things between floors, in particular in the overseas markets, where business owners are reluctant to adjust the elevator access control systems due to security concerns. Others can pick up and sort items, which is great for use in factories. These arms are powered by on device multi modality models, making it easier to automate routine tasks. When it comes to LMs, we use advanced models through API calls to support some of the features we have discussed. Speaker 200:07:19At the same time, we are also developing our own models. In November, we launched an 8x7000000000 mixture of experts model covering many languages, including Chinese, English, Korean and Japanese. We have made it open source and use it to power our robots, especially the agent OS features. Additionally, we have trained smaller own device models to support indoor autonomous driving and control robotic arms. Turning to ALM based applications. Speaker 200:07:53We recently introduced AirDx, an eye based data service platform, assisting enterprises in data and building prompts for their LM based application. ARTS was built on top of our insights into developing LMs and LM based apps. So far, we have received positive customer feedback on our LM based application and we will continue to enrich our portfolio. Our goal is to offer relatively standardized SaaS products, allowing businesses to use LMS gain efficiency. Before handing the call over to Thomas for the financial highlights, I want to stress this Cheetah Mobile is in a good position to tap into the growing markets for service robots and LM based apps We've been years of experience on the PC and mobile phone areas as well as expanding into international markets and we have strong LM expertise. Speaker 200:08:57We've already made solid progress in growing our revenue and cutting losses. This is just the beginning of Cheetah Mobile's turnaround. Speaker 300:09:08Thank you, Fusheng. Hello, everyone on the call. Please note that unless stated otherwise, all money amounts are in RMB terms. In Q3, 2024, our financial results demonstrated solid execution on 2 strategic objectives. Number 1, accelerating revenue growth driven by both the sales of robots and the legacy internet businesses and number 2, enhancing our operational efficiency to reduce our operating losses sequentially. Speaker 300:09:45In the Q3 of 2024, our total revenues increased 16.6% year over year, marking the 2nd consecutive quarter of accelerating revenue growth compared to 11.6% in Q1 and 12.3% in Q2. Our view based service robots continue to be a key driver of growth. Additionally, our legacy Internet business remains resilient, achieving solid revenue growth and margin expansion. On profitability, we made further progress. Non GAAP gross profit rose 14% year over year and 7% quarter over quarter to RMB 131 1,000,000 with non GAAP gross margin expanding to 68% in the 3rd quarter from 65% in Q2 and 63% in Q1. Speaker 300:10:54Non GAAP operating loss was RMB61 1,000,000 in the quarter, reduced from RMB63 1,000,000 in Q2 RMB66 1,000,000 in Q1. We continue to focus on managing costs and expenses. Notably, we consolidated the teams of Cheetah and Beijing Orion Star, streamlining staff and services with overlapping functions. For example, in Q3, we reduced unpaid costs and club costs, professional and legal service fees, and certain labor costs related to G and A and operations. We are also decisively investing in AI, using AI to enhance our service robotic business. Speaker 300:11:45For example, our non GAAP R and D expenses increased 25% quarter over quarter in Q3 and now about 60% of our revenues are invested in R and D. As Fu Sheng has said in the past, while we focus on developing products that generate immediate revenue and profits, we remain attentive to the latest technological advancements. Another highlight is the continued strength of our legacy internet business, which grew 26% year over year and 18% quarter over quarter. Operating margin excluding share based compensation expense for this segment improved to 10% from 6% last year. As of September 30, 2024, we maintained a strong balance sheet with cash and cash equivalents of $1,831,000,000 or US218 million dollars long term investments of about US886 million dollars or US126 million dollars In closing, we are making solid progress in expanding revenues and narrowing losses. Speaker 300:13:18We are confident in our investments in AI because we see the significant market potential of integrating our arms into our service robotics business. At the same time, we remain disciplined in reducing losses and driving efficiency in our AI operations. Thank you. This concludes our prepared remarks. Operator, we are now ready for the Q and A session. Operator00:13:49Thank you. And we will now begin the question and answer session. Speaker 100:14:16Everyone, for today's call, management will answer questions in Chinese and an AI agent will translate management's comments into English in another line. Please note that the translation is for convenience purpose only. In the case of any discrepancy or management statement in Chinese works well. If you are unable to hear the Chinese translation, I think our transcript in English will be available on our IR website as soon as we can. Operator, we are now ready to take questions. Speaker 100:14:47Thank you so much. Operator00:14:49Thank you. Moving the first question and it's from Thomas Chong at Jefferies. Please go ahead. Speaker 400:15:14Thanks management for taking my question and good evening. My question is about Cheetah Global Business. In 2025, what are our goals in terms of volume, revenue growth and revenue contribution from the robot business? Thank you. Speaker 100:17:29Thank you. Operator, can we move to the next question please? Operator00:17:34Yes. Our next question comes from Vicky Wei at Citi. Please go ahead. Speaker 100:19:55Thank you. Thank you. Please move to the next question please. Operator00:20:07Thank you. Our next question comes from Yanlong Chen with CITIC Securities. Please go ahead. Speaker 100:28:07Operator, please move to the next question please. Operator00:28:11Thank you. Our next question comes from Yani Su with Haitai Securities. Please go ahead. Speaker 100:30:36Operator, please move to the next question please. Operator00:30:40Thank you. Our next question comes from Suri Yin with CLAM Securities. Please go ahead. Speaker 100:34:39Operator, please move to the next question. Thank you. Operator00:34:43Thank you. Our next question comes from Yi Zhu with Founder Securities. Please go ahead. Speaker 100:39:08Operator, please move to the next question, please. Thank you. Operator00:39:12No problem. And our next question comes from Binxiang Wu with TF Global. Please go ahead. Speaker 100:42:34Thank you. Operator, please move to the next question. Operator00:42:39Thank you. Our next question comes from Alex Wong with SDICS International. Please go ahead. Speaker 100:47:59Thank you. Please move to the next question please. Operator00:48:04Thank you. Our next question today comes from Yungping Biao with Gautai Junan Securities. Please go ahead. Speaker 300:48:14Hi, management. Thanks for taking my question. And we have noticed that you have large amount of net cash on your balance sheet. So do you have any plan of dividend distribution or share repurchase in the future? Thank Speaker 200:48:31you. Speaker 100:50:13Operator, please move to the next question. Operator00:50:16Thank you. Our next question comes from Gigi Zhao with GS Securities. Please go ahead. Speaker 100:54:02Thank you. Operator, please move to the next question. Operator00:54:06Thank you. Our next question comes from Joanna Ma with CMBI. Please go ahead. Speaker 100:56:39Operator, please move to the next question please. Operator00:56:43Thank you. Our next question comes from Chengdu Li with William Securities. Please go ahead. Speaker 101:00:59Thank you. Operator, if we have no further questions, we can just conclude the Q and A section. Operator01:01:08We have no further questions, ma'am. Speaker 101:01:12Okay. And so thank you so much for joining Cheetah Mobile's Q3 2024's 20 24 earnings conference call. If you have any further questions, please do not hesitate to reach out to our IR team. Thank you so much. Bye bye. Operator01:01:28Thank you. This concludes today's conference call. We thank you all for attending today's presentation. You may now disconnect your lines and have a wonderful day.Read morePowered by