Autohome Inc.'s Board of Directors authorized a new share repurchase program on September 4, 2024. Under this program, the company is permitted to repurchase up to US$200 million of its American depositary shares (ADSs). The repurchases are planned to occur over the twelve months following the announcement date.
This initiative demonstrates Autohome's commitment to enhancing shareholder value. The company intends to fund these repurchases from its existing cash balance, indicating a strong financial position.
The program allows for repurchases through various means, including open market transactions, privately negotiated transactions, and block trades. The Board will periodically review the program and may adjust its terms or size.
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