SHANGHAI, June 13,
2024 /PRNewswire/ -- ZKH Group Limited (NYSE: ZKH), a
leading maintenance, repair and operations ("MRO") procurement
service platform in China,
announced that its board of directors has authorized a share
repurchase program under which the Company may repurchase up to
US$50 million of its American
Depositary Shares over the next 12 months, ending on June 13, 2025.
The share repurchases may be effected from time to time on the
open market at prevailing market prices, in privately negotiated
transactions, in block trades and/or through other legally
permissible means, depending on market conditions and will be
implemented in accordance with applicable rules and regulations.
The Company expects to fund the repurchases out of its existing
cash balance.
Mr. Eric Long Chen, Chairman and
Chief Executive Officer of ZKH, said, "The share repurchase program
underscores our confidence in ZKH's business growth and future
value creation potential. We will remain committed to delivering
sustainable, profitable growth and enhancing shareholder
value."
About ZKH Group Limited
ZKH Group Limited (NYSE: ZKH) is a leading MRO procurement
service platform in China,
dedicated to propelling the MRO industry's digital transformation
to drive cost reduction and efficiency improvement industry-wide.
Leveraging its outstanding product selection and recommendation
capabilities, ZKH provides digitalized, one-stop MRO procurement
solutions that enable its customers to transparently and
efficiently access a wide selection of quality products at
competitive prices. ZKH also facilitates timely and reliable
product delivery with professional fulfillment services. By
catering specifically to the needs of MRO suppliers and customers
through its unmatched digital infrastructure, ZKH empowers all
participants in the value chain to achieve more.
For more information, please visit: https://ir.zkh.com.
Safe Harbor Statement
This press release contains forward-looking statements. These
statements are made pursuant to the "safe harbor" provisions of the
U.S. Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terminology such as
"may," "will," "expects," "anticipates," "aim," "estimates,"
"intends," "plans," "believes," "is/are likely to," "potential,"
"continue," and similar statements. Among other things, the
quotations from ZKH's management in this press release contain
forward-looking statements. ZKH may make written or oral
forward-looking statements in its periodic reports to the U.S.
Securities and Exchange Commission (the "SEC"), in its annual
report to shareholders, in press release and other written
materials and in oral statements made by its officers, directors or
employees to third parties. Statements that are not historical
facts, including statements about ZKH's beliefs and expectations,
are forward-looking statements. Forward-looking statements involve
inherent risks and uncertainties. A number of factors could cause
actual results to differ materially from those contained in any
forward-looking statement. Further information regarding these and
other risks is included in ZKH's annual report on Form 20-F and
other documents filed with the SEC. All information provided herein
is as of the date of this press release, and ZKH undertakes no
obligation to update any forward-looking statement, except as
required under applicable law.
For investor and media inquiries, please contact:
In China:
ZKH Group Limited
IR Department
E-mail: IR@zkh.com
Piacente Financial Communications
Hui Fan
Tel: +86-10-6508-0677
E-mail: zkh@thepiacentegroup.com
In the United
States:
Piacente Financial Communications
Brandi Piacente
Tel: +1-212-481-2050
E-mail: zkh@thepiacentegroup.com
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SOURCE ZKH Group Limited