SHANGHAI, China, Oct. 9, 2024
/PRNewswire/ -- Nisun International Enterprise Development Group
Co., Ltd ("Nisun International" or the "Company") (Nasdaq: NISN), a
technology and industry driven integrated supply chain solutions
provider, today announced that its Board of Directors has approved
a share repurchase program under which the Company may purchase up
to $15 million of its outstanding
Class A common shares over the next 12 months.
Repurchases under this program may be made from time to time in
the open market at prevailing market prices, depending on market
conditions and other factors. The repurchase program will be funded
using cash on hand and profits generated from the Company's
operations.
The share repurchase program reflects Nisun International's
confidence in its business outlook and long-term growth prospects.
By reducing the total number of shares outstanding, the program is
expected to enhance shareholder value by increasing earnings per
share (EPS).
Mr. Xin Liu, CEO of
Nisun International, commented: "We believe that our current stock
price does not fully reflect the underlying value of our business
and the significant opportunities ahead of us. This repurchase
program underscores our confidence in the Company's future and
represents an efficient way to return value to our
shareholders."
The Company's Board of Directors will review the share
repurchase program periodically and may authorize adjustments of
its terms and size. Nisun International is not obligated to
purchase any specific number of shares under the program and may
suspend or discontinue the repurchase program at any time, based on
market conditions or other considerations.
About Nisun International Enterprise Development Group Co.,
Ltd
Nisun International Enterprise Development Group Co., Ltd
(NASDAQ: NISN) is a technology-driven, integrated supply chain
solutions provider focused on transforming the corporate finance
industry. Leveraging its industry experience, Nisun International
is dedicated to providing professional supply chain solutions to
Chinese and foreign enterprises and financial institutions. Through
its subsidiaries, Nisun International provides users with
professional solutions for technology supply chain management,
technology asset routing, and digital transformation of tech and
finance institutions, enabling the industry to strengthen and grow.
At the same time, Nisun International continues to deepen the field
of industry segmentation through industrial and financial
integration. Focusing on industry-finance linkages, Nisun
International aims to serve the upstream and downstream of the
industrial supply chain while also assisting with supply-side
sub-sector reform. For more information, please visit
http://ir.nisun-international.com/.
Cautionary Note Regarding Forward-Looking
Statements
This press release contains information about Nisun
International's view of its future expectations, plans
and prospects that constitute forward-looking statements. Actual
results may differ materially from historical results or those
indicated by these forward-looking statements as a result of a
variety of factors including, but not limited to, risks and
uncertainties associated with its ability to raise additional
funding, its ability to maintain and grow its business, variability
of operating results, its ability to maintain and enhance its
brand, its development and introduction of new products and
services, the successful integration of acquired companies,
technologies and assets into its portfolio of products and
services, marketing and other business development initiatives,
competition in the industry, general government regulation,
economic conditions, dependence on key personnel, the ability to
attract, hire and retain personnel who possess the technical skills
and experience necessary to meet the requirements of its clients,
and its ability to protect its intellectual property. Nisun
International encourages you to review other factors that may
affect its future results in Nisun International's registration statement and in its other
filings with the Securities and Exchange Commission. Nisun
International assumes no obligation to update or revise its
forward-looking statements as a result of new information, future
events or otherwise, except as expressly required by applicable
law.
Contacts
Nisun International Enterprise Development Group Co.,
Ltd
Investor Relations
Tel: +86 (21) 2357-0055
Email: ir@cnisun.com
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SOURCE Nisun International Enterprise Development Group Co.,
Ltd