Qudian Inc. Announces Up to US$200 Million Share Repurchase Program, Business News


XIAMEN, China, June 14, 2022 /PRNewswire/ — Qudian Inc. (“Qudian” or “the Company” or “We”) (NYSE: QD), a technology company focused on Chinaannounced today that its Board of Directors has authorized a share repurchase program under which the Company may repurchase up to $200 million value of its (i) outstanding American Depositary Shares (“ADS”), each representing one Class A common stock, and/or (ii) Class A common stock during the next 24 months from June 13, 2022.

Under the share buyback programme, the Company may repurchase its ADSs from time to time through open market transactions at prevailing market prices, over-the-counter transactions, block transactions or of any combination thereof. In addition, the Company will also effect redemption transactions in accordance 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 redeemed and the timing of redemptions will depend on a number of factors, including but not limited to stock price, trading volume and general market conditions, as well as the Company’s working capital requirements and general business terms. The Board of Directors of the Company will periodically review the share buyback program and may authorize an adjustment of its conditions and size. The Company expects to fund redemptions from its existing cash balance and does not expect the redemption program to adversely affect its existing business strategies.

About Qudian Inc.

Qudian Inc. (“Qudian”) is a consumer-focused technology company China. The Company has historically focused on providing consumer credit solutions. The Company explores innovative consumer products and services to meet the basic and daily needs of Chinese consumers by leveraging its technological capabilities. In March 2022he launched a convenience food business aimed at popular 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 pursuant to the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements may be identified by words such as “will”, “expect”, “anticipate” , “future,” “intends,” “anticipates,” “believes,” “estimates,” and similar statements. 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. as inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statements, including, but not limited to, the following: Qudian’s objective and strategies; Qudian’s expansion plans; the future business development, financial condition and results of operations of Qudian; Qudian’s expectations regarding market demand and acceptance of its products; Qudian’s expectations for maintaining and strengthening its relationships with customers, business partners and other parties with whom it does business; general economic and commercial conditions; and assumptions underlying or relating 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 speaks as of the date of this press release, and Qudian undertakes no obligation to update any forward-looking statements except as required by applicable law.

For investor and media inquiries, please contact:

In China:

Qudian Inc.
Tel: +86-592-596-8208
Email: [email protected]

Piacente Group, Inc.
Jenny Cai
Tel: +86 (10) 6508-0677
E-mail: [email protected]

In United States:

Piacente Group, Inc.
Brandi Piecente
Tel: +1-212-481-2050
E-mail: [email protected]

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