Cheetah Mobile Inc (CMCM)

[finesand]

$CMCM 20-F 2018: More dilution than buyback!

OS (issued) 1 ADS = 10 ordinary A or B shares 
 - 2017-12-31 142.16M (415.25M Class A ordinary, 1,006.398M Class B) 20-F 
 - 2018-06-30 143.63M 
 - 2018-09-30 143.33M   
 - 2018-09-20 142.63M (Repurchased $8M/$100M 1M ADS @ $8/sh avg; $92M to go)  
 - 2018-12-12 136.13M finviz 
 - 2018-12-31 143.34M (475.36M Class A ordinary, 957.99M Class B) 20-F 
                 
 Repurchase 
 - https://www.sec.gov/Archives/edgar/data/1597835/000119312519122322/d654805d20f.htm#rom654805_25 
 - 2018-12-31 (and up to 2019-03-31):            Total: 7.06M ADS @ $8.4156/ads avg for $67.82M 
 - 2018-12-31 (and up to 2019-03-31): 2018-09-13 $100M: 4.50M ADS @ $7.1778/ads avg for $32.30M 
 

So effectively OS has been increased, i.e. diluted more than bought back.
CMCM also did not buy as much as possible!