SHANGHAI, May 31, 2019 /PRNewswire/ -- Yintech
Investment Holdings Limited (NASDAQ: YIN) ("Yintech" or the
"Company"), a leading provider of investment and trading
services for individual investors in China, today announced its Board of Directors
approved a share repurchase
program, effective on June 2, 2019, under which Yintech is
authorized to purchase up to US$20.0 million worth of its
outstanding American depositary shares ("ADSs") over the next 12
months. Yintech's proposed repurchases may be made from time to
time on the open market at prevailing market prices, in privately
negotiated transactions, in block trades and/or through other
legally permissible means depending on market conditions and other
factors as well as subject to relevant rules under United
States securities regulations. All repurchased shares will be
cancelled.
The share repurchase program will be funded with Yintech's
available cash balance. As of March 31, 2019, Yintech had cash
and short term investments
of approximately RMB
1,753.2 million (US$261.2
million).
About Yintech
Yintech (NASDAQ: YIN) is a leading provider of investment
and trading services for individual investors in China.
Yintech strives to provide best-in-class financial information,
investment tools and services to its customers by leveraging
financial technology and mobile platforms. Currently, Yintech is
focused on the provision of gold and other commodities trading
services, securities advisory services, securities information
platform services, overseas securities trading services and asset
management services.
For investor and media inquiries, please contact:
Yvonne Young
Phone: +86 21 2028 9009 ext 8270
E-mail: ir@yintech.cn
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SOURCE Yintech Investment Holdings Ltd.