Qudian Inc. Announces up to US$300 Million Share Repurchase Program

Core Viewpoint - Qudian Inc. has announced a share repurchase program authorizing the repurchase of up to US$300 million worth of its outstanding American depositary shares (ADSs) and/or Class A ordinary shares over the next 36 months starting from June 13, 2024 [1] Group 1: Share Repurchase Program - The share repurchase program allows the company to repurchase its ADSs through various methods including open market transactions, privately negotiated transactions, and block trades [2] - Repurchases will comply with Rule 10b5-1 and/or Rule 10b-18 under the Securities Exchange Act of 1934, and the timing and number of ADSs repurchased will depend on factors such as share price, trading volume, and market conditions [2] - The company plans to fund the repurchases from its existing cash balance and does not expect the program to adversely affect its business strategies [2] Group 2: Company Overview - Qudian Inc. is a consumer-oriented technology company that historically focused on providing credit solutions to consumers [3] - The company is exploring innovative logistics services to meet consumer demand for e-commerce transactions by leveraging its technology capabilities [3]