XIAMEN,
China, June 14, 2022 /PRNewswire/ -- Qudian Inc.
("Qudian" or "the Company" or "We") (NYSE: QD), a consumer-oriented
technology company in China, today
announced that its board of directors has authorized a share
repurchase program under which the Company may repurchase up to
US$200 million worth of its
outstanding (i) American depositary shares ("ADSs"), each
representing one Class A ordinary share, and/or (ii) Class A
ordinary shares over the next 24 months starting from June 13, 2022.
Under the share repurchase program, the Company may repurchase
its ADSs from time to time through open market transactions at
prevailing market prices, privately negotiated transactions, block
trades or any combination thereof. In addition, the Company will
also effect repurchase transactions in compliance with Rule 10b5-1
and/or Rule 10b-18 under the
Securities Exchange Act of 1934, as amended, and its insider
trading policy. The number of ADSs repurchased and the timing of
repurchases will depend on a number of factors, including, but not
limited to, share price, trading volume and general market
conditions, along with the Company's working capital requirements
and general business conditions. The Company's board of directors
will review the share repurchase program periodically, and may
authorize adjustment of its terms and size. The Company plans to
fund the repurchases from its existing cash balance and does not
expect the repurchase program to adversely affect its existing
business strategies.
About Qudian Inc.
Qudian Inc. ("Qudian") is a consumer-oriented technology company
in China. The Company historically
focused on providing credit solutions to consumers. The Company is
exploring innovative consumer products and services to satisfy
Chinese consumers' fundamental and daily needs by leveraging its
technology capabilities. In March
2022, it launched a ready-to-cook meal business catering to
working-class consumers in China.
For more information, please visit http://ir.qudian.com.
Safe Harbor Statement
This announcement contains forward-looking statements. These
statements are made under the "safe harbor" provisions of the
United States Private Securities Litigation Reform Act of 1995.
These forward-looking statements can be identified by terminology
such as "will," "expects," "anticipates," "future," "intends,"
"plans," "believes," "estimates" and similar statements. Among
other things, the expectation of its collection efficiency and
delinquency contains forward-looking statements. Qudian may also
make written or oral forward-looking statements in its periodic
reports to the SEC, in its annual report to shareholders, in press
releases and other written materials and in oral statements made by
its officers, directors or employees to third parties. Statements
that are not historical facts, including statements about Qudian'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 but not limited to the following: Qudian's
goal and strategies; Qudian's expansion plans; Qudian's future
business development, financial condition and results of
operations; Qudian's expectations regarding demand for, and market
acceptance of, its products; Qudian's expectations regarding
keeping and strengthening its relationships with customers,
business partners and other parties it collaborates with; general
economic and business conditions; and assumptions underlying or
related to any of the foregoing. Further information regarding
these and other risks is included in Qudian's filings with the SEC.
All information provided in this press release and in the
attachments is as of the date of this press release, and Qudian
does not undertake any obligation to update any forward-looking
statement, except as required under applicable law.
For investor and media inquiries, please contact:
In China:
Qudian Inc.
Tel: +86-592-596-8208
E-mail: ir@qudian.com
The Piacente Group, Inc.
Jenny Cai
Tel: +86 (10) 6508-0677
E-mail: qudian@tpg-ir.com
In the United States:
The Piacente Group, Inc.
Brandi Piacente
Tel: +1-212-481-2050
E-mail: qudian@tpg-ir.com
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SOURCE Qudian Inc.