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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.