Qudian Inc. Announces Withdrawal of Annual Guidance and Declares US$500 Million New Share Repurchase Program
Qudian Inc. American Depositary Shares, each representing one Class A Ordinary Share (QD)
NASDAQ:AMEX Investor Relations:
ir.qudian.com
Company Research
Source: PR Newswire
XIAMEN, China, Jan. 16, 2020 /PRNewswire/ -- Qudian Inc. ("Qudian" or the "Company") (NYSE: QD), a leading technology platform empowering the enhancement of online consumer finance experience in China, today announced that the Company withdraws its fiscal 2019 guidance and will not issue guidance in the near term due to uncertainty related to the recent regulatory and operating environment. In addition, the board of directors of the Company (the "Board") approved a new share repurchase program (the "New Program") that authorized the Company to repurchase up to US$500 million worth of its American depositary shares ("ADSs"), each representing one Class A ordinary share, and/or Class A ordinary shares during the next 30-month period. China's online consumer finance industry was affected by several regulatory developments in the fourth quarter of 2019, including further restrictions on loan collection practices, more stringent user data privacy rules and the requirements for P2P lending
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