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Smart Share Global Limited Launches New Power Bank Sustainability Campaign

By: Smart Share Global Limited via GlobeNewswire

March 06, 2024 at 06:00 AM EST

SHANGHAI, China, March 06, 2024 (GLOBE NEWSWIRE) -- Smart Share Global Limited (“Energy Monster” or the “Company”), a consumer tech company providing mobile device charging service, today announced the launch of its new power bank sustainability campaign.

Energy Monster’s power bank sustainability campaign is designed to enhance the utilization of power banks by incentivizing users to recycle back previously purchased power banks. While the Company’s mobile device charging service has already demonstrated a net positive environmental impact by facilitating power bank sharing and reducing individual ownership, power banks purchased by users are sometimes underutilized.

The power bank sustainability campaign serves as an avenue to redeploy power banks from users back to Energy Monster's mobile device charging service network. To participate, eligible users can easily return their previously purchased power banks to any of Energy Monster's cabinets located across China. The cabinets are equipped to conduct a thorough checkup to assess the eligibility of the returned power banks. Energy Monster will then provide users returning power banks meeting the reuse and safety standards with mobile device charging service vouchers.

“Energy Monster was founded based on the principles of shared economy and visions of a greener and more sustainable future,” said Mars Guangyuan Cai, Chairman and Chief Executive Officer. “We remain committed to driving environmental sustainability and fostering a community that actively participates in the responsible use of electronic devices. As the industry leader in China’s mobile device charging service market, we manage a massive distributed network of energy storage system consisting of more than 8 million power banks across China. We have, in earlier versions of this campaign, collected more than 50 thousand power banks back into our ecosystem. Going forward, we aspire for our new campaign to propel our industry and the world towards a more sustainable future.”

About Smart Share Global Limited

Smart Share Global Limited (Nasdaq: EM), or Energy Monster, is a consumer tech company with the mission to energize everyday life. The Company is the largest provider of mobile device charging service in China with the number one market share. The Company provides mobile device charging service through its power banks, which are placed in POIs such as entertainment venues, restaurants, shopping centers, hotels, transportation hubs and public spaces. Users may access the service by scanning the QR codes on Energy Monster’s cabinets to release the power banks. As of September 30, 2023, the Company had 8.7 million power banks in 1,189,000 POIs across more than 2,000 counties and county-level districts in China.

Investor Relations
Hansen Shi
ir@enmonster.com

Safe Harbor Statement

This press release contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. In some cases, forward-looking statements can be identified by words or phrases such as “may,” “will,” “expect,” “anticipate,” “target,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to,” or other similar expressions. The Company may also make written or oral forward-looking statements in its reports filed with, or furnished to, the U.S. Securities and Exchange Commission (“SEC”), in its annual reports to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Energy Monster’s strategies; its future business development, financial condition and results of operations; the impact of technological advancements on the pricing of and demand for its services; competition in the mobile device charging service industry; Chinese governmental policies and regulations affecting the mobile device charging service industry; changes in its revenues, costs or expenditures; the risk that COVID-19 or other health risks in China or globally could adversely affect its operations or financial results; general economic and business conditions globally and in China and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any duty to update such information, except as required under applicable law.

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Smart Share Global Limited Launches New Power Bank Sustainability Campaign

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