BEIJING, June 29, 2021 /PRNewswire/ -- Kuke Music Holding
Limited (NYSE: KUKE) ("Kuke" or the "Company"), a leading AI-driven
music education company and one of the largest classical music
content providers in China, today announced that its board of
directors has authorized a share repurchase program under which the
Company may repurchase up to US$1
million of its American depositary shares ("ADSs") through
December 31, 2021.
The Company's proposed repurchases may be made from time to time
in 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 in
accordance with applicable rules and regulations. The Company plans
to fund repurchases from its existing cash balance.
He Yu, CEO of Kuke Music, commented, "The share repurchase
program reaffirms our confidence in the fundamental and long-term
growth of Kuke. It also reflects our ongoing commitment to
enhancing shareholder value while at the same time growing our
business."
Forward-looking Statements
This announcement contains forward looking statements. These
statements are made under the "safe harbor" provisions of the U.S.
Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terminology such as
"will," "expects," "anticipates," "aims," "future," "intends,"
"plans," "believes," "estimates," "confident," "potential,"
"continue" or other similar expressions. Statements that are not
historical facts, including but not limited to statements about
Kuke's beliefs and expectations, are forward-looking statements.
Forward-looking statements involve inherent risks and
uncertainties. A number of factors could cause actual results to
differ materially from those contained in any forward-looking
statement, including those in Kuke's registration statement filed
with the Securities and Exchange Commission. Further information
regarding these and other risks is included in Kuke's filings with
the SEC. All information provided in this press release is as of
the date of this press release, and Kuke undertakes no obligation
to update any forward-looking statement, except as required under
applicable law.
About Kuke Music Holding Limited
Kuke is China's leading
comprehensive music education group encompassing the entire value
chain from content provision to education services. The foundation
of Kuke's extensive classical music content library is its
unparalleled access to more than 900 top-tier record companies
including Naxos, the leading classical music content provider in
the world. Leveraging its market leadership in copyrighted
classical music content in China, Kuke provides highly scalable
classical music licensing and subscription services to over 700
universities, libraries and online music platforms. In addition, it
has hosted BMF, the most renowned music festival in China, for 23
consecutive years. At the same time, Kuke provides consumers with
premium music content, music literacy education, talent
competitions, and public performances through its apps, Kuke Music
and BMF Club. Through KUKEY, the Company's proprietary AI-driven
music education system, Kuke aims to democratize music education
via technological innovation, bring fascinating music content and
professional music techniques to more students, and continuously
improve the efficiency and penetration of music learning. By
integrating music content and education, Kuke is constructing a
unique smart music education ecosystem and providing students with
full life-cycle music programs.
Investor Relations Contact
Kuke Music Holding Limited
Email: kuke@icrinc.com
Jane.zuo@kuke.com
Phone: +1 (212) 321-0602
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SOURCE Kuke Music Holding Limited