Qifu Technology Provides Updates on Share Repurchase Plans

Core Viewpoint - Qifu Technology, Inc. has announced significant updates regarding its share repurchase plans, including the completion of a previous plan and the initiation of a new, larger repurchase program [1][2]. Share Repurchase Plans - The 2023 Share Repurchase Plan authorized the company to repurchase up to US$150 million worth of its American depositary shares (ADSs) or Class A ordinary shares over a 12-month period starting June 20, 2023. As of March 28, 2024, the company had repurchased 9,348,543 ADSs for a total of US$149,979,804, averaging US$16.02 per ADS [1]. - The newly approved 2024 Share Repurchase Plan allows the company to repurchase up to US$350 million worth of its ADSs or Class A ordinary shares over the next 12 months starting April 1, 2024. The repurchases will be conducted based on market conditions and in compliance with applicable regulations [2]. Company Overview - Qifu Technology is a leading Credit-Tech platform in China, providing a comprehensive suite of technology services to assist financial institutions, consumers, and SMEs throughout the loan lifecycle, including borrower acquisition, credit assessment, fund matching, and post-facilitation services [3].