UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934
For the month of February 2024
Commission file number: 001-39177
Sound Group Inc.
(Exact Name of Registrant as Specified
in Its Charter)
60 Anson Road,
Mapletree Anson,
#09-01/02,
Singapore 079914
(Address of Principal Executive Offices)
Indicate by check mark whether the registrant files or will file annual
reports under cover Form 20-F or Form 40-F. Form 20-F x Form
40-F ¨
SIGNATURE
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
|
Sound Group Inc. |
|
|
|
|
Date: February 7, 2024 |
By: |
/s/ Jinnan (Marco) Lai |
|
|
Name: |
Jinnan (Marco) Lai |
|
|
Title: |
Chief Executive Officer, Director |
EXHIBIT
INDEX
Exhibit 99.1
Sound Group Provides Update on Share Repurchase
Program
SINGAPORE, Feb. 7, 2024 (GLOBE NEWSWIRE) -- Sound Group Inc. (“Sound
Group” or the “Company”) (NASDAQ: SOGP), a global audio-centric social and entertainment company, today provided an
update on its $3 million share repurchase program approved by its board of directors (the “Board”) in December 2023 and effective
from December 13, 2023 to December 12, 2024.
As of the end of the trading day of February 6, 2024, the Company had
repurchased 287,777 ADSs (representing 57,555,400 ordinary shares) at an average price of $2.73 per ADS for a total of $784,713.80,
representing approximately 26.16% of the $3 million maximum amount of the share repurchase program.
Mr. Jinnan (Marco) Lai, founder, CEO and Chairman of the Board of
Sound Group, said, "We are pleased to provide an update on our share repurchase program. The number of shares repurchased
depends on various factors, many of which are beyond our control. However, in accordance with applicable rules and regulations, and
subject to relevant limitations, we are actively executing our share repurchase program and have utilized more than 26% of the
approved amount to date. Our ongoing share repurchases reflect our confidence in the Company’s intrinsic value, supported by a
solid balance sheet and our unwavering commitment to executing our strategic initiatives. Despite the challenging macro environment,
we are optimistic about the long-term growth prospects in our global business and the online audio industry. Moving forward, we will
remain dedicated to fostering a sustainable business ecosystem and delivering lasting value to our stakeholders over the long
term.”
The Company’s share repurchase program may be executed 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 number of ADSs repurchased and the timing or conditions of repurchases
may depend on a number of factors, including, but not limited to, share price, trading volume and general market conditions, along with
the Company’s working capital requirements and general business conditions, and will be in accordance with applicable rules and
regulations, including Rule 10b5-1 and/or Rule 10b-18 under the Securities Exchange Act of 1934, as amended.
Sound Group is committed to maintaining information transparency and
keeping investors updated on the Company's progress. Any significant plans or material activities including further actions regarding
the share repurchase program will be announced in a timely manner in accordance with disclosure obligations.
About Sound Group Inc.
Sound Group Inc. is a global audio-centric social and entertainment
company driven by a clear mission and vision: building the world’s largest audio platform to better connect and communicate. The
Company is dedicated to shaping a future where audio not only bridges gaps but also amplifies human connection through the power of sound.
Sound Group Inc. has been listed on Nasdaq since January 2020.
For more information, please visit: https://ir.soundgroupinc.com/
Safe Harbor Statement
This press release contains forward-looking statements. These statements
are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that
are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking
statements involve inherent risks and uncertainties, and 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: the Company’s goals and strategies; the
Company’s future business development, results of operations and financial condition; the expected growth of the online audio market;
the expectation regarding the rate at which to gain active users, especially paying users; the Company’s ability to monetize the
user base; fluctuations in general economic and business conditions in China and overseas markets; the impact of the COVID-19 to the Company’s
business operations and the economy in China and elsewhere generally; any adverse changes in laws, regulations, rules, policies or guidelines
applicable to the Company; and assumptions underlying or related to any of the foregoing. In some cases, forward-looking statements can
be identified by words or phrases such as “may,” “will,” “expect,” “anticipate,” “target,”
“aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,”
“is/are likely to” or other similar expressions. Further information regarding these and other risks, uncertainties or factors
is included in the Company’s filings with the Securities Exchange Commission. All information provided in this press release is
as of the date of this press release, and the Company does not undertake any duty to update such information, except as required under
applicable law.
For investor and media inquiries, please contact:
Sound Group Inc.
IR Department
Tel: +86 (20) 8381-8791
E-mail: ir@soundgroupinc.com
Piacente Financial Communications
Jenny Cai
Tel: +86 (10) 6508-0677
Brandi Piacente
Tel: +1-212-481-2050
E-mail: soundgroup@tpg-ir.com
Sound (NASDAQ:SOGP)
Historical Stock Chart
From Jul 2024 to Aug 2024
Sound (NASDAQ:SOGP)
Historical Stock Chart
From Aug 2023 to Aug 2024