BEIJING, Dec. 15, 2014 /PRNewswire/ -- Jumei International
Holding Limited (NYSE: JMEI) ("Jumei" or the
"Company"), China's leading online retailer of beauty
products, today announced that its board of directors has
authorized a share repurchase program under which the Company may
repurchase up to US$100 million of
its shares over the next 12 months.
The Company's proposed repurchases may be made 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 in
accordance with applicable rules and regulations. Jumei's board of
directors will review the share repurchase program periodically,
and may authorize adjustment of its terms and size. The Company
plans to fund repurchases from its existing cash balance.
Mr. Leo Ou Chen, chairman and
founder of Jumei, commented, "The implementation of our share
repurchase program reflects the confidence that our
management have in Jumei's growth prospects and operating
fundamentals. This repurchase program reflects a commitment by
our management to
enhance value for our shareholders while retaining adequate
flexibility for future growth."
About Jumei International Holding Limited
Jumei (NYSE: JMEI) is China's No. 1 online
retailer of beauty products as measured by gross merchandise
volume, with a market share of 22.1% in 2013, according to a
commissioned research report by Frost & Sullivan. Jumei's
internet platform is a trusted destination for consumers to
discover and purchase branded beauty products, fashionable apparel
and other lifestyle products through the
Company's jumei.com website and mobile
application. Leveraging its deep understanding of customer needs
and preferences, as well as its strong merchandizing capabilities,
Jumei has adopted multiple effective sales formats to encourage
product purchases on its platform, including curated sales, online
shopping mall and flash sales.
For investor and media inquiries, please contact:
Jumei International Holding Limited
Mr. Sterling Song
Investor Relations Director
Phone: +86-10-5676-6983
E-mail: kans@jumei.com
Christensen
In China
Mr. Christian Arnell
Phone: +86-10-5900-1548
E-mail: carnell@christensenir.com
In US
Ms. Linda Bergkamp
Phone: +1-480-614-3004
E-mail: lbergkamp@ChristensenIR.com
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SOURCE Jumei International Holding Limited