Document:

EX-4.59

 Exhibit 4.59 

Exclusive Equity Option Agreement 
 This
Exclusive Equity Option Agreement (this “Agreement”) is entered into on December 20, 2019 by and among: 
  

	(1)	 Cheetah Mobile Inc., a company established and validly existing under the laws of the Cayman Islands (the
“Cayman Company”); 

  

	(2)	 Sheng Fu, a Chinese citizen, with the ID number of ***; and 

Kun Wang, a Chinese citizen, with the ID number of *** (collectively referred to as the “Existing Shareholders”); and 

 

	(3)	 Beijing Conew Technology Development Co., Ltd., a limited liability company established under the laws of China
(the “Company”). 

 (Each of the above is individually referred to as a “Party” and
collectively as the “Parties”.) 
 Recitals 

 

	(A)	 Whereas, the Existing Shareholders collectively hold 100% of the shares of the Company.

  

	(B)	 Whereas, Conew Network Technology (Beijing) Co., Ltd., the Company and the Existing Shareholders
executed an Equity Pledge Agreement on December 20, 2019 (the “Equity Pledge Agreement”). 

NOW, THEREFORE, the Parties agree as follows: 

Agreement 
  

	1.	 Underlying Shares 

 

	1.1	 The Existing Shareholders agree to and hereby irrevocably and exclusively grant to the Cayman Company without
any additional conditions, an option to require the Existing Shareholders to transfer all or part of the shares held by the Existing Shareholders in the Company (the “Underlying Shares”) to the Cayman Company or its designated third
party (the “Designated Party”) to the extent permitted by the laws of China under any circumstance deemed appropriate or necessary by the Cayman Company in its sole discretion (subject to the specific requirements of the Cayman
Company) (the “Share Purchase Option”). 

  

	1.2	 The Company hereby agrees that the Existing Shareholders grant the Share Purchase Option to the Cayman Company.

  

	1.3	 The Cayman Company shall have the right to exercise all or part of its Share Purchase Option at any time to
acquire all or part of the Underlying Shares, and the number of times of exercise is unlimited. 

  

	1.4	 The Cayman Company shall have the right to designate any third party to acquire all or part of the Underlying
Shares, and the Existing Shareholders shall not refuse to do so and shall transfer all or part of the Underlying Shares to such Designated Party as required by the Cayman Company. 

 

	1.5	 Prior to the transfer of the Underlying Shares to the Cayman Company or the Designated Party in accordance with
this Agreement, the Existing Shareholders shall not transfer the Underlying Shares without the prior written consent of the Cayman Company. 

  

	2.	 Underlying Assets 

 

	2.1	 The Company agrees to and hereby irrevocably and exclusively grants to the Cayman Company without any
additional conditions an option to require the Company to transfer all or part of the assets held by the 

  
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Company (the “Underlying Assets”) to the Cayman Company or its Designated Party to the extent permitted by the laws of China under any circumstance deemed appropriate or
necessary by the Cayman Company in its sole discretion (subject to the specific requirements of the Cayman Company) (the “Asset Purchase Option”). 

 

	2.2	 The Existing Shareholders hereby agree that the Company grants the Asset Purchase Option to the Cayman Company.

  

	2.3	 The Cayman Company shall have the right to exercise all or part of its Asset Purchase Option at any time to
acquire all or part of the Underlying Assets, and the number of times of exercise is unlimited. 

  

	2.4	 The Cayman Company shall have the right to designate any third party to acquire all or part of the Underlying
Assets, and the Company and the Existing Shareholders shall not refuse to do so and shall transfer all or part of the Underlying Assets to such Designated Party as required by the Cayman Company. 

 

	2.5	 Prior to the transfer of the Underlying Assets to the Cayman Company or the Designated Party in accordance with
this Agreement, the Company and the Existing Shareholders shall not transfer or approve the transfer of the Underlying Shares without the prior written consent of the Cayman Company. 

 

	3.	 Procedures for the Exercise of Share Purchase Option 

 

	3.1	 If the Cayman Company decides to exercise the Share Purchase Option in accordance with the provisions of
Article 1.1 above, it shall give a written notice to the Company and the Existing Shareholders, stating the proportion of the Underlying Shares to be transferred and the identity of the transferee (the “Share Purchase Notice”).

  

	3.2	 Subject to the compliance with the laws of China, the Company and the Existing Shareholders shall, within
thirty (30) days from the date of the Share Purchase Notice, provide all necessary materials and documents for the registration and transfer of the above-mentioned share transfer, and take all necessary actions and measures, including but not
limited to holding a meeting of shareholders or directors to approve the share transfer and obtaining written documents from other shareholders agreeing to waive any right of first refusal related to the share transfer. 

 

	3.3	 The Existing Shareholders shall execute a share transfer agreement with the Cayman Company and/or each
Designated Party (as the case may be) in the form as shown in Annex I with respect to each transfer of the Underlying Shares to be made in accordance with this Agreement and the Share Purchase Notice. Provided that if the laws of China provide
otherwise for the content and format of the Share Transfer Agreement, the provisions of the laws of China shall prevail. 

  

	3.4	 If the Cayman Company decides to exercise the Share Purchase Option in accordance with the provisions of
Article 1.1 above, the Parties concerned shall execute all necessary contracts, agreements or documents, obtain all necessary government licenses and approvals, and take all necessary actions to transfer the effective ownership of the Underlying
Shares to the Cayman Company and/or the Designated Party without any restriction of security interests and cause the Cayman Company and/or the Designated Party to become the registered owner of the Underlying Shares. For the purposes of this Article
and this Agreement, “security interests” shall include security, mortgage, third party rights or interests, stock options, purchase rights, preemptive rights, rights of set off, liens of ownership or other security arrangements, but
shall not include any security interest created by this Agreement, the Equity Pledge Agreement and the Exclusive Service Agreement. 

  

	4.	 Procedures for the Exercise of Asset Purchase Option 

 

	4.1	 If the Cayman Company decides to exercise the Asset Purchase Option in accordance with the provisions of
Article 2.1 above, it shall give a written notice to the Company, stating the conditions of the Underlying Assets to be transferred and the identity of the transferee (the “Asset Purchase Notice”). 

  
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	4.2	 Subject to the compliance with the laws of China, the Company and the Existing Shareholders shall, within
thirty (30) days from the date of the Asset Purchase Notice, provide all necessary materials and documents for the registration and transfer of the above-mentioned asset transfer (if applicable), and take all necessary actions and measures,
including but not limited to holding a meeting of shareholders or directors to approve the asset transfer. 

  

	4.3	 The Existing Shareholders shall cause the Company to execute an asset transfer agreement with the Cayman
Company and/or each Designated Party (as the case may be) in the form as shown in Annex II with respect to each transfer of the Underlying Assets to be made in accordance with this Agreement and the Asset Purchase Notice. Provided that if the laws
of China provide otherwise for the content and format of the Asset Transfer Agreement, the provisions of the laws of China shall prevail. 

  

	4.4	 The Parties concerned shall execute all necessary contracts, agreements or documents, obtain all necessary
government licenses and approvals, and take all necessary actions to transfer the effective ownership of the Underlying Assets to the Cayman Company and/or the Designated Party without any restriction of security interests and cause the Cayman
Company and/or the Designated Party to become the registered owner of the Underlying Assets. 

  

	5.	 Financial Support 

 

	5.1	 In order to ensure that the Company complies with the cash flow requirements in its daily operation and/or
offsets any loss incurred in the course of its operation, whether or not the Company actually incurs any such operating losses, the Cayman Company may provide financial support to the Company (only to the extent permitted by the laws of China). The
Cayman Company may provide financial support to the Company by means of bank entrusted loan or borrowing, and shall execute entrusted loan or borrowing contracts separately. The Cayman Company will not require the Company to pay its debts if the
Company is unable to do so. 

  

	6.	 Transfer Price 

 

	6.1	 The total transfer price of the Underlying Shares and/or the Underlying Assets is RMB 1.00; if there is any
mandatory provision on the transfer price in the laws and administrative regulations of China when the above-mentioned Underlying Shares and/or the Underlying Assets are transferred, the transfer price shall be the lowest price permitted by the then
effective laws and administrative regulations of China (the “Transfer Price”). If the Underlying Shares and/or the Underlying Assets are transferred in several times, the amount of corresponding transfer price shall be determined
according to the proportion of the Underlying Shares and/or the Underlying Assets to be transferred. 

  

	6.2	 All taxes, fees and incidental expenses arising from the transfer of the Underlying Shares and/or the
Underlying Assets shall be borne by the Cayman Company or the Company. 

  

	7.	 Undertakings 

  

	7.1	 Undertakings of the Company and the Existing Shareholders 

The Existing Shareholders and the Company hereby undertake that: 
  

	 	7.1.1	 it will not supplement, change or modify the articles of association and internal rules of the Company in any
form, increase or decrease the registered capital of the Company, or change the registered capital structure of the Company in any other ways without the prior written consent of the Cayman Company; 

 

	 	7.1.2	 it shall operate the business of the Company and handle the affairs of the Company prudently and effectively,
and maintain the existence of the Company in accordance with sound financial and commercial standards and practices; 

  
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	 	7.1.3	 it will not sell, transfer, mortgage, pledge or dispose of any assets of the Company (except for the disposal
of assets generated in the ordinary course of business) or any legal or beneficial interest in the business or income of the Company in any way upon the execution of this Agreement without the prior written consent of the Cayman Company, nor will it
allow the creation of any relevant security interest; 

  

	 	7.1.4	 it will not incur, inherit, provide security for or suffer any debt without the prior written consent of the
Cayman Company, except for the debts incurred in the ordinary course of business; 

  

	 	7.1.5	 it shall maintain the asset value of the Company during the normal operation of the entire business of the
Company, and shall not take any actions/omissions that may affect the business status and asset value of the Company; 

  

	 	7.1.6	 it will not cause the Company to enter into any material contract without the prior written consent of the
Cayman Company, except in the ordinary course of business; 

  

	 	7.1.7	 it will not cause the Company to make any loan or credit available to any person or business without the prior
written consent of the Cayman Company, except in the ordinary course of business; 

  

	 	7.1.8	 it shall provide the information related to the business operation and financial status of the Company upon the
request of the Cayman Company; 

  

	 	7.1.9	 if required by the Cayman Company, it shall cause the Company to purchase and maintain insurance(s) for the
Company’s assets and business from an insurance company that meets the requirements of the Cayman Company, and the amount and type of the insurance(s) shall be the same as that of the insurance(s) purchased by a similar company;

  

	 	7.1.10	 it will not cause or permit the Company to merge or integrate with or acquire or invest in any person or
business without the prior written consent of the Cayman Company; 

  

	 	7.1.11	 it shall immediately notify the Cayman Company if any litigation, arbitration or administrative proceedings
related to the assets, business or income of the Company occurs or is likely to occur; 

  

	 	7.1.12	 it shall execute all documents, take all actions, submit all complaints, or file all defenses against all
claims necessary or appropriate for the maintenance of the ownership of the Company in all its assets; 

  

	 	7.1.13	 it shall ensure that the Company will not distribute dividends, assets or any distributable interests to the
Existing Shareholders in any way without the prior written consent of the Cayman Company, provided that upon the written request of the Cayman Company, the Company shall immediately distribute all or part of the distributable profits to the Existing
Shareholders, and then the Existing Shareholders shall immediately and unconditionally pay or transfer the above distribution in a manner permitted by applicable laws to the Cayman Company; 

 

	 	7.1.14	 if the total amount of the transfer price obtained by the Existing Shareholders for the shares held by them in
the Company is higher than their capital contribution to the Company, or if they receive any form of profit distribution, dividend or distribution from the Company, the Existing Shareholders shall, without any violation of the laws of China, waive
the premium portion of the proceeds and any profit distribution, dividend or distribution mentioned above, and the Cayman Company has the right to obtain such portion of the proceeds, otherwise the Existing Shareholders shall compensate the Cayman
Company and/or any third party designated by it for the losses resulting therefrom; and 

  

	 	7.1.15	 upon the request of the Cayman Company, it shall appoint any person designated by the Cayman Company to be a
director and/or executive director of the Company. 

  

	7.2	 Undertakings Related to Shares of the Company 

The Existing Shareholders hereby undertake that: 
  

	 	7.2.1	 the Existing Shareholders will not sell, transfer, pledge or dispose of any legal or beneficial interest in the
Underlying Shares in any way without the prior written consent of the Cayman Company, nor 

  
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will they allow the creation of any other security interest on the Underlying Shares, except for the pledge created on the Underlying Shares in accordance with the Equity Pledge Agreement;

  

	 	7.2.2	 the Existing Shareholders shall cause the existing shareholders’ meeting and/or the meeting of the board
of directors (or the executive director(s)) of the Company to disapprove the sale, transfer, pledge or disposal of any legal or beneficial interest in the Underlying Shares in any way without the prior written consent of the Cayman Company, or not
to allow the creation of any other security interest on the Underlying Shares, except for the pledge created on the Underlying Shares in accordance with the Equity Pledge Agreement; 

 

	 	7.2.3	 the Existing Shareholders shall cause the existing shareholders’ meeting and/or the meeting of the board
of directors (or the executive director(s)) of the Company to disapprove the merger or integration of the Company with any person, or the acquisition by the Company of or the investment by the Company in any person without the prior written consent
of the Cayman Company; 

  

	 	7.2.4	 the Existing Shareholders shall immediately notify the Cayman Company if any litigation, arbitration or
administrative proceedings related to the Underlying Shares occurs or is likely to occur; 

  

	 	7.2.5	 upon the request of the Cayman Company, the Existing Shareholders shall promptly and unconditionally cause the
transfer of the Underlying Shares to be approved and completed in accordance with the provisions of this Agreement; 

  

	 	7.2.6	 the Existing Shareholders shall execute all documents, take all actions, submit all complaints, or file all
defenses against all claims necessary or appropriate for the maintenance of the ownership of the Existing Shareholders in the Company; 

  

	 	7.2.7	 upon the request of the Cayman Company, the Existing Shareholders shall appoint any person designated by the
Cayman Company to be a director and/or executive director of the Company; and 

  

	 	7.2.8	 the Existing Shareholders shall strictly comply with the provisions of this Agreement and other contracts
executed jointly or separately by the Existing Shareholders, the Cayman Company and the Company and perform their obligations hereunder and thereunder, and shall not take any action/omission that may affect the validity and enforceability hereof and
thereof. If the Existing Shareholder has any rights under this Agreement or the Equity Pledge Agreement or in the shares under the entrustment agreement and the power of attorney, the Existing Shareholders shall not exercise such rights unless they
act in accordance with the written instructions of the Cayman Company. 

  

	8.	 Representations and Warranties 

The Existing Shareholders and the Company hereby represent and warrant to the Cayman Company severally and not jointly that as of the date of
this Agreement and the date of each transfer of the Underlying Shares/the Underlying Assets: 
  

	8.1	 it has the right to enter into this Agreement and the transfer agreement related to the transfer of the
Underlying Shares/the Underlying Assets, and has the ability to perform its obligations hereunder and thereunder; 

  

	8.2	 the execution and delivery of this Agreement or any agreement related to the transfer of the Underlying
Shares/the Underlying Assets and the performance of any of its obligations hereunder and thereunder will not: (i) result in a violation of any relevant laws of China; (ii) conflict with the articles of association, internal rules or other
organizational documents of the Company; (iii) result in a violation of or constitute a default under any contract or document to which it is a party or by which it is bound; (iv) result in a violation of any conditions of issue and/or
continued validity of any license or permit issued to it; and (v) cause any license or permit issued to it to be revoked, forfeited or subject to additional conditions; 

  
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	8.3	 the Existing Shareholders have valid and marketable title to the Underlying Shares. Except for the Equity
Pledge Agreement, no Existing Shareholders have created any security interest on the Underlying Shares; 

  

	8.4	 the Company has valid and marketable title to all of its assets and has no created any security interest on
such assets, except for the security interest disclosed to and agreed in writing by the Cayman Company; 

  

	8.5	 the Company has no outstanding debts, except for (i) the debts incurred in the ordinary course of
business; and (ii) the debts disclosed to and agreed in writing by the Cayman Company; and 

  

	8.6	 the Company has complied with all the laws and regulations of China on asset acquisition.

  

	9.	 Taxes and Fees 

During the drafting and execution of this Agreement and the Share Transfer Agreement, as well as the completion of the transactions
contemplated by this Agreement and the Share Transfer Agreement, the Company or the Cayman Company shall pay all transfer and registration taxes, expenses and fees levied or incurred in accordance with the laws of China. 

 

	10.	 Confidentiality 

The Parties acknowledge that any oral or written information exchanged by the Parties in connection with this Agreement shall be confidential.
Each Party shall keep all the above-mentioned information confidential and shall not disclose any relevant information to any third party without the written consent of the other Parties, except for the information which (a) has been or will be
known to the public (not due to the public disclosure made by the receiving party); (b) is disclosed in accordance with applicable laws, regulations or the requirements of the stock exchange; or (c) is required to be disclosed by either Party
to its legal or financial advisers in connection with the transactions contemplated by this Agreement, for which such legal or financial advisers are subject to confidentiality obligations similar to those set forth in this Article. If any employee
or agent employed by any Party discloses the confidential information, it shall be deemed that such Party has disclosed the confidential information and shall be liable for breach of contract. The provisions of this Article shall survive the
termination of this Agreement for any reason. 
  

	11.	 Assignment 

  

	11.1	 The Company and the Existing Shareholders shall not assign any of their rights or obligations under this
Agreement to any third party without the prior written consent of the Cayman Company. 

  

	11.2	 The Company and the Existing Shareholders hereby agree that the Cayman Company may, in its sole discretion,
assign its rights and obligations under this Agreement by giving a prior written notice of the assignment to the Company and the Existing Shareholders. 

  

	12.	 Entire Agreement and Amendment 

 

	12.1	 This Agreement and all agreements and/or documents expressly mentioned or included in this Agreement shall
constitute the entire agreement with respect to the subject matter of this Agreement, and shall supersede all oral agreements, contracts, understandings and communications reached by the Parties with respect to the subject matter of this Agreement.

  

	12.2	 Neither the Company nor the Existing Shareholders shall have any right to modify, supplement or revoke this
Agreement without the prior written consent of the Cayman Company. 

  

	12.3	 The Annexes are an integral part of this Agreement and have the same legal effect as other parts of this
Agreement. 

  

	13.	 Governing Law and Dispute Resolution 

 

	13.1	 This Agreement shall be governed by and construed in accordance with the laws of China. 

  
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	13.2	 Any dispute arising from or in connection with this Agreement shall be submitted to China International
Economic and Trade Arbitration Commission for arbitration in accordance with the arbitration rules of the Commission in force at the time of applying for arbitration. The arbitration award is final and binding on the Parties. The place of
arbitration shall be Beijing. 

  

	14.	 Effective Date and Term 

 

	14.1	 This Agreement shall be entered into and come into force on the date first written above.

  

	14.2	 Unless terminated in accordance with the provisions of this Agreement, the term of this Agreement shall be ten
(10) years, and shall be automatically extended for a period of ten (10) years after the expiration thereof, without limit to the number of extensions. 

 

	15.	 Termination 

Neither the Company nor the Existing Shareholders have the right to terminate this Agreement. Notwithstanding the foregoing, the Cayman Company
shall have the right, in its sole discretion, to terminate this Agreement at any time upon ten (10) days’ prior written notice to the Company and the Existing Shareholders. 

 

	16.	 Notice 

Any notice or other communication given by either Party under this Agreement shall be written in English or Chinese and may be delivered by
hand, registered mail, postage prepaid mail, or recognized courier service or sent by fax to the address designated by the Parties concerned from time to time. A notice shall be deemed to be duly served (a) on the date when it is delivered if
the notice is delivered by hand; (b) on the 10th day after the date of mailing by registered airmail with postage paid (subject to postmark) if the notice is sent by mail, or on the 4th day after it is delivered to the courier service if the
notice is sent by the courier service; or (c) on the receipt time indicated on the transmission confirmation of relevant documents if the notice is sent by fax. 
  

	17.	 Severability 

If any provision of this Agreement is deemed invalid or unenforceable dues to inconsistency with relevant laws, such provision shall be deemed
invalid or unenforceable to the extent of the jurisdiction of relevant laws, and no validity, legality and enforceability of other provisions of this Agreement shall be affected. 

 

	18.	 Counterparts 

This Agreement shall be executed by the Parties in four originals, each Party shall hold one original, and all originals shall have the same
legal effect. This Agreement may be executed in one or more counterparts. 
  

	19.	 Miscellaneous 

If the U.S. Securities and Exchange Commission or any other regulatory authority proposes any amendment to this Agreement, or any change occurs
to the listing rules or relevant requirements of the U.S. Securities and Exchange Commission in connection with this Agreement, the Parties shall amend this Agreement accordingly. 

[followed by the signature pages] 

  
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 IN WITNESS WHEREOF, the Parties have duly executed this Agreement as of the date first above written. 

 

			
	Cheetah Mobile Inc.
		
	By:	 	   /s/ Sheng Fu

	Name: Sheng Fu
	Title: Director
	
	Beijing Conew Technology Development Co., Ltd.
(Seal)
	
	   /s/ Authorized Signatory

 Signature Page of the Exclusive Equity Option Agreement 

 IN WITNESS WHEREOF, the Parties have duly executed this Agreement as of the date first above written. 

 

			
	Sheng Fu
		
	By:	 	 /s Sheng Fu

	
	Kun Wang
		
	By:	 	 /s Kun Wang

 Signature Page of the Exclusive Equity Option Agreement 

 Annex I 

Share Transfer Agreement 
 This Share
Transfer Agreement (this “Agreement”) is entered into by and between the following Parties in Beijing, China: 
 Transferor: 

Transferee: 
 The Parties hereby agree on the share transfer as
follows: 
  

	 	1.	 The Transferor agrees to transfer to the Transferee, and the Transferee agrees to accept the transfer of,
    % of the shares held by the Transferor in Beijing Conew Technology Development Co., Ltd. 

  

	 	2.	 Upon the completion of the share transfer, the Transferor shall no longer enjoy or undertake the corresponding
rights or obligations of the existing shareholders in respect of the transferred shares. The Transferee shall enjoy and undertake the rights and obligations of the existing shareholders of Beijing Conew Technology Development Co., Ltd.

  

	 	3.	 A supplementary agreement may be executed by the Parties with respect to any matter unmentioned in this
Agreement. 

  

	 	4.	 This Agreement shall come into force as of the date when it is executed by the Parties. 

 

	 	5.	 This Agreement is made in four originals, each Party holds one counterpart, and the remaining shall be used for
handling the formalities of industrial and commercial registration change. 

 Transferor: 
  

			
	By:	 	  

	Date:
	
	Transferee:
		
	By:	 	  

	Date:

 Annex II 

Asset Transfer Agreement 
 This Asset
Transfer Agreement (this “Agreement”) is entered into by and between the following Parties in Beijing, China: 
 Transferor: Beijing Conew
Technology Development Co., Ltd. 
 Transferee: 
 The Parties
hereby agree on the asset transfer as follows: 
  

	 	1.	 The Transferor agrees to transfer to the Transferee, and the Transferee agrees to accept the transfer of, the
assets listed in the List of Assets attached hereto. 

  

	 	2.	 Upon the completion of the asset transfer, the Transferor shall no longer enjoy or undertake the corresponding
rights or obligations in respect of the transferred assets. The Transferee shall enjoy and undertake the rights and obligations of such assets. 

  

	 	3.	 A supplementary agreement may be executed by the Parties with respect to any matter unmentioned in this
Agreement. 

  

	 	4.	 This Agreement shall come into force as of the date when it is executed by the Parties. 

 

	 	5.	 This Agreement is made in four originals, each Party holds one counterpart, and the remaining shall be used for
handling the formalities of industrial and commercial registration change (if any). 

			
	Transferor:
	
	Beijing Conew Technology Development Co., Ltd. (Seal)
	
	  

	Date:
	
	Transferee:
		
	By:	 	  

	
	Date:

 Annex: List of AssetsEX-4.60

 Exhibit 4.60 

Equity Pledge Agreement 

This Equity Pledge Agreement (this “Agreement”) is made and entered into on December 20, 2019 by and among: 

 

	(1)	 Conew Network Technology (Beijing) Co., Ltd., a wholly foreign-owned enterprise established under the laws of
the People’s Republic of China (“China”) (the “Pledgee”); 

  

	(2)	 Beijing Conew Technology Development Co., Ltd., a limited liability company established under the laws of China
(the “Company”); 

  

	(3)	 Sheng Fu, a Chinese citizen, with the ID number of ***; and 

Kun Wang, a Chinese citizen, with the ID number of *** (collectively referred to as the “Pledgors”) 

(The Pledgee, the Company and the Pledgors shall be individually referred to as a “Party” and collectively as the
“Parties”.) 
 Recitals 
  

	(A)	 Whereas, on the date of this Agreement, the Pledgors hold 100% of the shares of the Company, with a
total amount of capital contribution of RMB 300,000. 

  

	(B)	 Whereas, the Pledgee and the Company executed an Exclusive Service Agreement (the
“Exclusive Service Agreement”) on July 5, 2018, under which the Company shall pay the service fees to the Pledgee for the services provided by the Pledgee. 

 

	(C)	 Whereas, Cheetah Mobile Inc. (the “Cayman Company”), the Pledgors and the Company
executed an Exclusive Equity Option Agreement (the “Exclusive Equity Option Agreement”) on December 20, 2019, under which the Pledgors granted to the Cayman Company an exclusive equity option to purchase the shares of
the Company held by it in accordance with the terms thereof, and the Company granted to the Cayman Company an exclusive equity option to purchase the assets of the Company in accordance with the terms thereof. 

NOW, THEREFORE, the Parties agree as follows: 

Agreement 
  

	1.	 Major Agreements 

 

	  	 The Parties to this Agreement recognize and acknowledge that the major agreements for the pledge under this
Agreement shall include the Exclusive Service Agreement, the Exclusive Equity Option Agreement and all agreements executed by the Pledgors, the Cayman Company, the Company and the Pledgee from time to time. 

 

	2.	 Pledge 

  

	2.1	 The Pledgors agree to unconditionally and irrevocably pledge to the Pledgee all of their shares in the Company
(including any interest or dividend paid for such shares) (the “Pledged Shares”) as security for the performance by the Pledgors and the Company of their obligations under the major agreements (the “Pledge”).

  

	3.	 Scope of the Pledge 

 

	3.1	 The scope of the Pledge under this Agreement shall include all the obligations of the Pledgors and the Company
under the major agreements, including but not limited to loans and interest thereof under the 

  
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major agreements (if applicable), all the service fees payable, all the debts owed, all the obligations and liabilities to be performed (including but not limited to any payment to the Relevant
Personnel), liquidated damages (if any), indemnities, expenses incurred for exercising creditor’s rights and pledge rights (including but not limited to attorney fees, arbitration fees, and expenses related to the assessment and auction of the
Pledged Shares) and any other related expenses. For the avoidance of doubt, the scope of the Pledge shall not be limited by the amount of capital contribution of shareholders. 

 

	4.	 Term of the Pledge 

 

	4.1	 The Pledge shall remain in force, and the term of the Pledge shall terminate on the earlier of (1) the
date when all outstanding secured debts have been paid off or repaid in other applicable ways; (2) the date when the Pledgee exercises its pledge rights in accordance with the terms and conditions of this Agreement for the full realization of
its rights over the secured debts and the Pledged Shares; or (3) the date when the Pledgors transfer all their shares to the Cayman Company or a third party designated by the Cayman Company (a natural or legal person) in accordance with the
Exclusive Equity Option Agreement and no longer hold the shares of the Company. 

  

	4.2	 During the term of the Pledge, if the Pledgors or the Company or their subsidiaries fail to perform their
respective obligations under the major agreements, the Pledgee shall have the right to dispose of the Pledged Shares in accordance with the provisions of this Agreement. 

 

	4.3	 The Pledgee shall have the right to receive any or all dividends or other distributable interests arising from
the Pledged Shares and to determine the distribution or disposal of such dividends or interests at its own discretion. 

  

	5.	 Registration 

  

	5.1	 The Company shall (1) register the Pledge in the register of shareholders of the Company on the date of
this Agreement, and provide the register of shareholders to the Pledgee, and (2) submit an application for pledge registration to the market supervision and administration authority (the “Administration for Industry and
Commerce”) as soon as possible upon the execution of this Agreement, and obtain relevant supporting documents. The Pledgors and the Company shall submit all documents and complete all procedures required by the laws and regulations of China
and the competent Administration for Industry and Commerce to ensure that relevant registration procedures are completed as soon as possible after the Pledge is submitted to the Administration for Industry and Commerce. 

 

	5.2	 Notwithstanding any provision of this Agreement, during the term of the Pledge, the original register of
shareholders of the Company shall be kept by the Pledgee or its designee. 

  

	5.3	 The Pledgors may increase their contributions to the Company with the prior consent of the Pledgee, provided
that any contribution of the Pledgors to the Company shall be subject to the provisions of this Agreement, and the additional contribution shall be a part of the Pledged Shares. The Company shall immediately change its register of shareholders in
accordance with the provisions of this Article 5 and handle the change registration of the Pledge with the Administration for Industry and Commerce within five (5) business days. 

 

	6.	 Representations and Warranties of the Pledgors 

 

	6.1	 The Pledgors are the sole legal owners of the pledged shares. 

 

	6.2	 The Pledgors have not created any security interest or other encumbrances on the Pledged Shares.

  

	6.3	 The Company is a limited liability company duly established and validly existing under the laws of China and
duly registered with the competent Administration for Industry and Commerce. The registered capital of the Company is RMB 300,000; the Pledgors will make their contributions to the registered capital of the Company in accordance with the articles of
association of the Company. 

  
 2 

	7.	 Undertakings and Further Warranties of the Pledgors 

 

	7.1	 The Pledgors hereby undertake to the Pledgee that during the term of this Agreement, the Pledgors:

  

	 	7.1.1	 shall not transfer the Pledged Shares, or create or allow the creation of any security interest or other
encumbrances on the Pledged Shares, or otherwise dispose of the Pledged Shares without the prior written consent of the Pledgee, except for the purpose of performing the Exclusive Equity Option Agreement; 

 

	 	7.1.2	 shall comply with all the relevant laws and regulations applicable to the Pledge, submit any notice, order or
proposal issued or drafted by the relevant regulatory authority to the Pledgee within five (5) business days upon the receipt thereof, and comply with the aforesaid notice, order or proposal, or make a claim or complaint with respect to the
above matters at the reasonable request of the Pledgee or with the consent of the Pledgee; and 

  

	 	7.1.3	 shall inform the Pledgee immediately if they get aware of or receive an event or notice which may affect the
rights of the Pledgee in respect of the Pledged Shares or other obligations of the Pledgors under this Agreement. 

  

	7.2	 The Pledgors agree that no rights related to the Pledge obtained by the Pledgee in accordance with this
Agreement shall be interrupted or hindered by the Company, the Pledgors, the Pledgors’ successors or representatives, or any other person (collectively referred to as the “Relevant Personnel”) through any legal process. The
Pledgors warrant to the Pledgee that they have made all appropriate arrangements and executed all necessary documents to ensure that in the event of their deaths, incapacities, bankruptcies, divorces or other circumstances that may affect the
exercise of their shares, their heirs, guardians, creditors, spouses and other persons who may acquire the shares or related rights as a result thereof shall not affect or hinder the performance of this Agreement. 

 

	 	7.2.1	 The Relevant Personnel will not supplement, change or modify the articles of association and internal rules of
the Company in any form, increase or decrease the registered capital of the Company, or change the registered capital structure of the Company in other ways without the prior written consent of the Pledgee; 

 

	 	7.2.2	 The Relevant Personnel will not sell, transfer, mortgage or dispose of any assets of the Company or any
subsidiary of the Company or any legal or beneficial interest in the business or income of the Company in any way upon the execution of this Agreement without the prior written consent of the Pledgee, nor will they allow the creation of any security
interest thereon; 

  

	 	7.2.3	 The Relevant Personnel shall ensure that the Company will not distribute dividends to, make property
distribution to, reduce capital for, initiate liquidation procedures for or make any other distribution to the shareholders in any way without the prior written consent of the Pledgee. Any distribution (including but not limited to distributed
assets or residual property in liquidation) shall be considered as a part of the Pledge; or 

  

	 	7.2.4	 The Relevant Personnel shall not do any act that causes or may cause the value of the Pledged Shares to
decrease or jeopardizes or may jeopardize the validity of the Pledge under this Agreement without the prior written consent of the Pledgee. If there is any obvious decrease in the value of the Pledged Shares, which is enough to jeopardize the rights
of the Pledgee, the Relevant Personnel shall immediately notify the Pledgee, provide other property satisfactory to the Pledgee as security according to the reasonable requirements of the Pledgee, and take necessary actions to solve the above event
or reduce its adverse effects. 

  

	7.3	 In order to protect or perfect the security interest created by this Agreement for the payment under the major
agreements, the Pledgors hereby undertake to execute in good faith and cause other parties related to the Pledge to execute all certificates, agreements, contracts and/or undertakings required by the Pledgee. The Pledgors also undertake to take and
cause other parties related to the Pledge to take the actions required by the Pledgee for the exercise of its rights and powers granted by this Agreement, and to execute 

  
 3 

	 	
all documents related to the ownership of the Pledged Shares with the Pledgee or its designee. The Pledgors undertake to provide the Pledgee with all notices, orders and decisions related to the
Pledge required by the Pledgee within a reasonable time. 

  

	7.4	 The Pledgors hereby undertake to comply with and perform all warranties, undertakings, covenants,
representations and conditions under this Agreement. If the above warranties, undertakings, covenants, representations and conditions are not performed or only partially performed, the Pledgors shall indemnify the Pledgee for all losses caused
thereby. 

  

	8.	 Exercise of Pledge Rights 

 

	8.1	 It shall constitute an event of default under this Agreement (the “Event of Default”) (the
Event of Default shall be deemed to be “continuing” unless remedied or waived) if: 

  

	 	8.1.1	 any representation, warranty or statement made by the Pledgors or the Company under this Agreement or any major
agreements is untrue, incomplete or inaccurate in any respect; or the Pledgors or the Company violates or fails to perform any obligation under this Agreement or any major agreements, or fails to comply with any undertaking under this Agreement or
any major agreements; or 

  

	 	8.1.2	 one or more obligations of the Pledgors or the Company under this Agreement or any major agreements shall be
deemed illegal or invalid. 

  

	8.2	 In the event of an Event of Default and when the Event of Default is continuing, the Pledgee shall have the
right to exercise all the rights of the secured party in accordance with the relevant applicable laws of China (including the provisions of the Security Law of the People’s Republic of China and the Property Law of the People’s
Republic of China), including but not limited to the rights to: 

  

	 	8.2.1	 sell part or all of the Pledged Shares in one or more public or private trading markets by giving three
(3) days’ prior written notice to the Pledgors, and such sale may be in the form of cash, credit transaction or future delivery; and 

  

	 	8.2.2	 execute an agreement with the Pledgors to purchase the Pledged Shares with a monetary value determined by
referring to the market price of the Pledged Shares. 

 The Pledgee shall have the right to be first paid the expenses
listed in Article 3 of this Agreement out of the proceeds received from the disposal of the Pledged Shares in the above manner. 
  

	8.3	 At the request of the Pledgee, the Pledgors and the Company shall take all legal and appropriate actions to
ensure the exercise by the Pledgee of its pledge rights. For the purpose of the foregoing, the Pledgors and the Company shall execute all documents and materials and take all measures and actions as reasonably required by the Pledgee.

  

	9.	 Assignment 

  

	9.1	 The Company and the Pledgors shall not assign any of their rights and obligations under this Agreement to any
third party without the prior written consent of the Pledgee. 

  

	9.2	 The Company and the Pledgors hereby agree that the Pledgee may, in its sole discretion, assign its rights and
obligations under this Agreement by giving a prior written notice to the Company and the Pledgors. 

  

	10.	 Termination 

This Agreement shall terminate after the term of the Pledge is expired in accordance with Article 4 hereof. 

 

	11.	 Entire Agreement and Amendment 

 

	11.1	 This Agreement and all agreements and/or documents expressly mentioned or included in this Agreement shall
constitute the entire agreement with respect to the subject matter of this Agreement, and shall 

  
 4 

	 	
supersede all oral agreements, contracts, understandings and communications reached by the Parties with respect to the subject matter of this Agreement. 

 

	11.2	 Any amendment to this Agreement shall be made in writing and shall come into force only upon the execution by
the Parties hereto. Any amendment agreement or supplementary agreement duly executed by the Parties shall constitute an integral part of this Agreement and have the same legal effect as this Agreement. 

 

	12.	 Governing Law and Dispute Resolution 

 

	12.1	 This Agreement shall be governed by and construed in accordance with the laws of China. 

 

	12.2	 Any dispute arising from or in connection with this Agreement shall be submitted to China International
Economic and Trade Arbitration Commission for arbitration in accordance with the arbitration rules of the Commission in force at the time of applying for arbitration. The arbitration award is final and binding on the Parties. The place of
arbitration shall be Beijing. 

  

	13.	 Effective Date and Term 

 

	13.1	 This Agreement shall be entered into and come into force on the date first written above.

  

	13.2	 This Agreement shall remain in force during the term of the Pledge. 

 

	14.	 Notice 

  

	  	 Any notice or other communication given by either Party under this Agreement shall be written in English or
Chinese and may be delivered by hand, registered mail, postage prepaid mail, or recognized courier service or sent by fax to the address designated by the Parties concerned from time to time. A notice shall be deemed to be duly served (a) on
the date when it is delivered if the notice is delivered by hand; (b) on the 10th day after the date of mailing by registered airmail with postage paid (subject to postmark) if the notice is sent by mail, or on the 4th day after it is delivered
to the courier service if the notice is sent by the courier service; or (c) on the receipt time indicated on the transmission confirmation of relevant documents if the notice is sent by fax. 

 

	15.	 Severability 

  

	  	 If any provision of this Agreement is deemed invalid or unenforceable due to inconsistency with relevant laws,
such provision shall be deemed invalid or unenforceable to the extent of the jurisdiction of relevant laws, and no validity, legality and enforceability of other provisions of this Agreement shall be affected. 

 

	16.	 Counterparts 

  

	  	 This Agreement shall be executed by the Parties in five originals, each Party shall hold one original, the
remaining shall be used for handling the formalities of industrial and commercial registration, and all originals shall have the same legal effect. This Agreement may be executed in one or more counterparts. 

 

	17.	 Miscellaneous 

 

	  	 If the U.S. Securities and Exchange Commission or any other regulatory authority proposes any amendment to this
Agreement, or any change occurs to the listing rules or relevant requirements of the U.S. Securities and Exchange Commission in connection with this Agreement, the Parties shall amend this Agreement accordingly. 

[followed by the signature pages] 

  
 5 

 IN WITNESS WHEREOF, the Parties have duly executed this Agreement as of the date first above written. 

 

	
	 Conew Network Technology (Beijing) Co., Ltd.

(Seal)

	
	 /s/ Authorized Signatory

	
	 Beijing Conew Technology Development Co., Ltd.

(Seal)

	
	 /s/ Authorized Signatory

 IN WITNESS WHEREOF, the Parties have duly executed this Agreement as of the date first above written. 

 

			
	Sheng Fu
		
	By:	 	 /s/ Sheng Fu

	
	Kun Wang
		
	By:	 	 /s/ Kun Wang

 Register of Shareholders of Beijing Conew Technology Development Co., Ltd. 

(prepared on December 20, 2019, with the registered capital of the Company of RMB 

300,000 and the paid-in capital of RMB 300,000) 

 

											
	 No.
	  	Name of
Shareholder	  	ID No./
Registration
No./Unified
Social Credit
Code	  	Subscribed
Capital
Contribution
(Shareholding
Ratio)	  	Contribution
Mode	  	 Conditions of the Pledge Pledgee

	001	  	Sheng Fu	  	***	  	RMB 188,200
(62.73%)	  	in cash	  	the contribution of RMB 188,200 has been
pledged to Conew Network Technology
(Beijing) Co., Ltd.
						
	002	  	Kun Wang	  	***	  	RMB 111,800
(37.27%)	  	in cash	  	the contribution of RMB 111,800 has been
pledged to Conew Network Technology
(Beijing) Co., Ltd.

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