Core Viewpoint - Jianpu Technology Inc. has announced a share repurchase program authorizing the repurchase of up to US350,000 of the Company's shares [1][2]. Group 1: Share Repurchase Program - The share repurchase may occur in the open market at prevailing prices, through privately negotiated transactions, block trades, or other legally permissible means, depending on market conditions [2]. - The Board will periodically review the share repurchase program and may adjust its terms and size as necessary [2]. - The repurchases are expected to be funded from the Company's existing cash balance [2]. Group 2: Management's Share Purchase Plans - Co-Founder and CEO Mr. Daqing (David) Ye and Co-Founder Mr. Jiayan Lu plan to use personal funds to purchase up to US$350,000 of the Company's shares over the next 12 months [1]. Group 3: Financial Performance Insights - The Company reported a healthy trend in its performance during the second and third quarters of 2023, with a net loss approaching breakeven in Q2 and efficiency gains in Q3 attributed to operational improvements and cost optimization [3]. - Management believes this positive trend may have continued into the fourth quarter of 2023 based on preliminary assessments, although actual results may vary [3]. Group 4: Company Overview - Jianpu Technology Inc. is a leading independent open platform for discovering and recommending financial products in China, connecting users with financial service providers efficiently and securely [4]. - The Company utilizes proprietary technology to provide customized search results and recommendations tailored to users' financial needs [4]. - Jianpu also offers sales and marketing solutions to financial service providers, enhancing their competitiveness through tailored data and risk management services [4].
Jianpu Technology Inc. Announces US$3 Million Share Repurchase Program, Share Purchase Plan of Directors and Senior Management and Business Update