The company states: “On March 12, 2024, the Company’s board of directors approved a share repurchase plan, whereby the Company is authorized to repurchase its American depositary shares or Class A ordinary shares with an aggregate value of up to $350M during the 12-month period from April 1, 2024. As of December 30, 2024, the Company had utilized substantially all of the total authorized value for the 2024 Share Repurchase Plan. Specifically, the Company had in aggregate purchased 15,110,617 ADSs in the open market for a total amount of $349,997,661 at an average price of $23.14 per ADS. The Company intends to cancel all of the repurchased shares in accordance with applicable rules and regulations.”
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