04:43 PM EDT, 08/15/2025 (MT Newswires) -- Smart Share Global ( EM ) said late Friday it received a preliminary non-binding proposal from Hillhouse Investment Management to acquire outstanding shares of the company not already owned by Hillhouse or management members for $1.77 per American Depositary share in cash.

On Aug. 1, the company entered into a merger agreement to be acquired by a consortium comprising Trustar Mobile Charging and certain members of senior management, including board chairman and CEO Mars Guangyuan Cai, director and president Peifeng Xu, chief marketing officer Victor Yaoyu Zhang, and chief financial officer Maria Yi Xin, according to a statement.

The board said no decision has been made regarding Hillhouse's proposal.