SHANGHAI, Dec. 17,
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
additional share repurchases under its $15
million share buyback program, which was announced on
October 9, 2024.
As of December 17, 2024, the
Company has repurchased a total of 121,341 shares at an average
price of $8.68 per share, for a total
of $1.05 million. These repurchases
demonstrate Nisun International's ongoing commitment to enhancing
shareholder value by strategically deploying capital.
The buyback reflects the Company's belief that the current
market price undervalues the Company's intrinsic value as the
Company stock is currently trading at a significant discount to its
book value and at a price-to-earnings (P/E) ratio lower than the
industry average. The repurchases are expected to be accretive to
earnings per share (EPS), benefiting existing shareholders as the
Company's outstanding shares are further reduced.
"We remain committed to enhancing shareholder value through the
execution of our long-term strategy," said Mr. Xin Liu, CEO of Nisun International. "Recently,
we expanded our supply chain service operations into several new
sectors, including rubber supply chains, traditional Chinese
medicine, and campus catering, through strategic partnerships.
These developments underscore our ability to identify and
capitalize on opportunities in dynamic and high-growth industries
by taking advantage of our capital, industrial experience, advanced
technology, and strong connections with our customers. "
"Additionally, the recent improvements in the Chinese economy,
supported by government stimulus measures, provide a more favorable
environment for business growth and innovation. Our confidence in
the Company's future growth is further reinforced by these
additional share repurchases, which represent a strategic and
efficient use of our capital to create long-term value for our
shareholders."
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.
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SOURCE Nisun International Enterprise Development Group Co.,
Ltd.