|By PR Newswire||
|July 31, 2014 02:30 PM EDT||
SKIPPACK, Pa., July 31, 2014 /PRNewswire/ -- Cheetah Mobile is joining the growing list of US Listed Chinese companies whose shareholders are not informed of the same material information that is first being disclosed by third party venues in China. We view this as information arbitrage because of the lag time between the distribution in China and when US investors learn of the same facts. In the case of Cheetah, GeoInvesting ("GEO" or "GeoInvesting.com") believes that this material information will have an adverse impact on the company's future revenues and is surprised as to why Cheetah management has not addressed the issues pointed out below:
- CMCM's flagship Clean Master app was removed from Google Play's top free app rankings, calling into question growth in its highly touted large overseas user base and future monetization potential.
- Outside of China, daily downloads from Google Play of CMCM's six apps have fallen by approximately 88% following Google's removal of Clean Master from the rankings.
- Management has not alerted investors to these negative developments that occurred since July 15, 2014, raising a significant corporate governance issue.
- There is a risk that the Clean Master app may be kicked out of the Google Play store if violations of store policies are not mitigated and resolved.
Please see GEO's entire report detailing why the firm believes that, given the current undisclosed significant business risk, CMCM's current valuation premium over its peer Qihoo 360 is entirely unwarranted and why GEO values CMCM to be worth between $7.00 and $9.00.
At GeoInvesting.com, our focus is on providing high quality insights on mid and microcap equities, both in the China and U.S. spaces.
Geoinvesting.com is a website designed to gather, analyze and disseminate information on public companies trading on the U.S. financial markets. The major theme of the GeoTeam's philosophy is to provide quick, concise and efficient research instead of the pages and pages of information indicative of most research reports.
Dan David, Vice President
Web site: http://www.geoinvesting.com
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