Aurora Mobile announces a $5 million share repurchase program effective January 1, 2025, to enhance shareholder value.
Quiver AI Summary
Aurora Mobile Limited, a prominent provider of customer engagement and marketing technology services in China, announced the approval of a share repurchase program allowing the company to buy back up to $5 million of its ordinary shares over a 12-month period starting January 1, 2025. The repurchases may occur through various methods depending on market conditions, and the board will periodically review the program for potential adjustments. The repurchase will be funded from the company's existing cash reserves. Aurora Mobile, founded in 2011, focuses on delivering messaging services and advanced marketing solutions to enterprises, adapting to the growing demand for customer engagement and digital transformation.
Potential Positives
- Approval of a share repurchase program of up to US$5 million demonstrates the board's confidence in the company's financial health and strategy.
- The repurchase program is expected to be funded from the company's existing cash balance, indicating robust liquidity.
- Share repurchases can enhance shareholder value by reducing the number of outstanding shares, potentially increasing earnings per share.
Potential Negatives
- The approval of a share repurchase program may suggest that the company's stock is undervalued, which could indicate weak market confidence in its future prospects.
- The reliance on existing cash balances to fund the share repurchases may raise concerns about liquidity, especially if the company faces unexpected financial challenges.
- The announcement includes numerous forward-looking statements that highlight inherent risks and uncertainties, which may signal instability in the company's future operations and growth potential.
FAQ
What is Aurora Mobile's latest announcement?
Aurora Mobile has announced a share repurchase program worth up to US$5 million for ordinary shares starting January 1, 2025.
How long will the share repurchase program last?
The share repurchase program will last for 12 months, beginning on January 1, 2025.
What is the purpose of the share repurchase program?
The share repurchase program aims to enhance shareholder value and reflects the company’s confidence in its financial health.
How will Aurora Mobile fund the share repurchases?
The company expects to fund the share repurchases from its existing cash balance.
What services does Aurora Mobile provide?
Aurora Mobile offers customer engagement and marketing technology services, including messaging and marketing solutions for enterprises in China.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
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Full Release
SHENZHEN, China, Dec. 30, 2024 (GLOBE NEWSWIRE) -- Aurora Mobile Limited (NASDAQ: JG) (“Aurora Mobile” or the “Company”), a leading provider of customer engagement and marketing technology services in China, today announced the approval of a share repurchase program.
On December 30, 2024, the board of directors of the Company approved a share repurchase program whereby the Company is authorized to repurchase up to US$5 million worth of its ordinary shares (including in the form of American depositary shares) during a 12-month period starting from January 1, 2025.
The Company’s proposed repurchases may be made from time to time in 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 in accordance with applicable rules and regulations. The Company’s board of directors will review the share repurchase program periodically, and may authorize adjustment of its terms and size. The Company expects to fund the repurchases out of its existing cash balance.
About Aurora Mobile Limited
Founded in 2011, Aurora Mobile (NASDAQ: JG) is a leading provider of customer engagement and marketing technology services in China. Since its inception, Aurora Mobile has focused on providing stable and efficient messaging services to enterprises and has grown to be a leading mobile messaging service provider with its first-mover advantage. With the increasing demand for customer reach and marketing growth, Aurora Mobile has developed forward-looking solutions such as Cloud Messaging and Cloud Marketing to help enterprises achieve omnichannel customer reach and interaction, as well as artificial intelligence and big data-driven marketing technology solutions to help enterprises' digital transformation.
For more information, please visit https://ir.jiguang.cn/.
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under 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 “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and similar statements. Among other things, the Business Outlook and quotations from management in this announcement, as well as Aurora Mobile’s strategic and operational plans, contain forward-looking statements. Aurora Mobile may also make written or oral forward-looking statements in its reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases 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 but not limited to statements about Aurora Mobile’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, including but not limited to the following: Aurora Mobile’s strategies; Aurora Mobile’s future business development, financial condition and results of operations; Aurora Mobile’s ability to attract and retain customers; its ability to develop and effectively market data solutions, and penetrate the existing market for developer services; its ability to transition to the new advertising-driven SAAS business model; its ability to maintain or enhance its brand; the competition with current or future competitors; its ability to continue to gain access to mobile data in the future; the laws and regulations relating to data privacy and protection; general economic and business conditions globally and in China and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in the Company’s filings with the Securities and Exchange Commission. All information provided in this press release and in the attachments is as of the date of the press release, and Aurora Mobile undertakes no duty to update such information, except as required under applicable law.
For more information, please contact:
Aurora Mobile Limited
E-mail:
ir@jiguang.cn
Christensen
In China
Ms. Xiaoyan Su
Phone: +86-10-5900-1548
E-mail:
Xiaoyan.Su@christensencomms.com
In U.S.
Ms. Linda Bergkamp
Phone: +1-480-614-3004
Email:
linda.bergkamp@christensencomms.com
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