Aurora Mobile Announces Plan to Implement ADS Ratio Change

SHENZHEN, China, Nov. 30, 2023 (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 that it plans to change the ratio of its American depositary shares (“ADSs”) to its Class A common shares (the “ADS Ratio Change”), par value US$0.0001 per share, from three (3) ADS representing two (2) Class A common shares to three (3) ADS representing forty (40) Class A common shares, effective on or about December 6, 2023, U.S. Eastern Time (the “Effective Date”).

The ADS Ratio Change will have the same effect as a one-for-twenty reverse ADS split for Aurora Mobile’s ADS holders. The ADS Ratio Change will have no impact on Aurora Mobile’s underlying Class A common shares, and no Class A common shares will be issued or cancelled in connection with the ADS Ratio Change. On the Effective Date, holders of the ADSs will be required to surrender and exchange every twenty (20) ADSs then held for one (1) new ADS. The Bank of New York Mellon, as the depositary bank for the Company’s ADS program, will arrange for the exchange. Aurora Mobile’s ADSs will continue to be traded on the Nasdaq Capital Market under the ticker symbol “JG.”

No fractional new ADSs will be issued in connection with the ADS Ratio Change. Instead, fractional entitlements to new ADSs will be aggregated and sold by the depositary bank and the net cash proceeds from the sale of the fractional ADS entitlements (after deduction of fees, taxes, and expenses, where applicable) will be distributed to the applicable ADS holders by the depositary bank.

As a result of the ADS Ratio Change, the ADS trading price is expected to increase proportionally, although the Company can give no assurance that the ADS trading price after the ADS Ratio Change will be equal to or greater than twenty times the ADS trading price before the change.

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.