The following is a summary of the Smart Share Global Limited (EM) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Smart Share Global achieved a year-over-year gross merchandise volume growth rate of 27% in 2023 due to the recovery in offline traffic and network expansion.

• The company reported a significant turnaround from a net loss of RMB 711.2 million in 2022 to a net income of RMB 87.7 million in 2023.

• Revenue for the year 2023 was RMB 3 billion, a 4.2% year-over-year increase mainly due to increased mobile device charging revenues. However, revenue for Q4 2023 decreased by 18.3%.

• Gross profit for 2023 dropped by 23.3% year-over-year to RMB 1.7 billion while the operating expenses decreased by 39.7%.

• Non-GAAP net income was recorded at RMB 108.1 million in 2023 compared to a non-GAAP net loss of RMB 683 million in 2022.

Business Progress:

• The total count of Points of Interaction (POI) in the company's network grew by 237,000 to 1.2 million by the end of 2023.

• The company increased its network partner count by 65% Year-on-Year after adding 4,300 network partners in Q4.

• Energy Monster plans for 2024 include further profitability enhancement through continuous POI network expansion and optimization of the existing direct model POI portfolio.

• The company is exploring collaborations with leading IPs and celebrities for promotional opportunities and is also planning to tap into untapped POIs for growth and cost optimization.

More details: Energy Monster IR

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.