Benzinga | Oct 21, 2020 05:25AM EDT

Weidai Confirmed Late Tuesday, It is Not Aware of Any Undisclosed Material Change or Development in Its Business and Operations or Rumors in the Market That Would Account for the Recent Trading Activity, Increase in Stock Price

Weidai Ltd. (the "Company" or "Weidai") (NYSE:WEI) is issuing this press release in light of the unusual trading activity related to the American depositary shares (the "ADSs") of the Company on the New York Stock Exchange (the "NYSE").

Normally, Weidai does not comment on market activity or rumors. However, Weidai confirms that it is not aware of any undisclosed material change or development in its business and operations or rumors in the market that would account for the recent increase in trading activity, and related increase in trading price, of its ADSs on the NYSE.