Benzinga | Dec 21, 2021 05:12AM EST

Qudian Announced Chairman & CEO to Purchase Up to $10 Million of ADSs

Qudian Inc. ("Qudian" or "the Company") (NYSE:QD), a leading technology platform empowering the enhancement of the online consumer finance experience in China, today announced that Mr. Min Luo, the Company's founder, chairman and chief executive officer, has informed the Company that he intends to use personal funds to purchase up to US$10 million of the Company's American depository shares ("ADSs") over the next 12 months. Purchases will take place in full compliance with applicable laws and the Company's securities trading policy.

The share purchases may be made from time to time in the open market at prevailing market prices, in privately negotiated transactions, in block trades and/or through other legally permissible means in accordance with applicable rules and regulations, including, but not limited to, Rule10b5-1and/or Rule10b-18under the Securities Exchange Act of 1934, as amended. The number of ADSs purchased and the timing of purchases will depend on a number of factors, including, but not limited to, price, trading volume and general market conditions.

Mr. Luo commented, "Our senior management believes the current share price deeply undervalues Qudian's potential. Our ability to maintain a solid balance sheet with sufficient liquidity lays a strong foundation for our future success. I have great confidence in Qudian's solid business fundamentals and long-term growth prospects."