FLJ Group Limited Announces ADS Ratio Change

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FLJ Group Limited announces adjustment in ADS ratio

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• FLJ Group Limited (NASDAQ: FLJ) has announced that the ratio of its American depositary shares (ADSs) representing its Class A ordinary shares has been adjusted from 1 ADS representing 150 Class A ordinary shares to 1 ADS representing 15,000 Class A ordinary shares. This adjustment reflects a share subdivision on a 1 to 100 basis authorized by the company's shareholders in its annual general meeting held on September 18, 2023.

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SHANGHAI, China, Oct. 27, 2023 (GLOBE NEWSWIRE) -- FLJ Group Limited (NASDAQ: FLJ) (the “Company”), a leading technology-driven long-term apartment rental platform in China, today announced that the ratio of the American depositary shares (“ADSs”) representing its Class A ordinary shares has been adjusted from one (1) ADS representing one hundred and fifty (150) Class A ordinary share to one (1) ADS representing fifteen thousand (15,000) Class A ordinary shares (the “ADS Ratio Change”), effective as of November 2, 2023. The ADS Ratio Change reflects the share subdivision on a 1 to 100 basis authorized by its shareholders in its annual general meeting held on September 18, 2023.

About FLJ Group Limited

FLJ Group Limited is a leading technology-driven long-term apartment rental platform in China. The Company offers young, emerging urban residents conveniently-located, ready-to-move-in, and affordable branded apartments as well as facilitates a variety of value-added services. The Company leverages advanced IT and mobile technologies to manage rental apartments in various cities in China. Technology is the core of the Company’s business and is applied to its operational process from apartment sourcing, renovation, and tenant acquisition, to property management. The focus on technology enables the Company to operate a large, dispersed, and fast-growing portfolio of apartments with high operational efficiency and deliver a superior user experience.

For investor and media inquiries, please contact:

FLJ Group Limited

E-mail: ir@qk365.com

Christensen

In China
Mr. Rene Vanguestaine
Phone: +86-10-5900-1548
E-mail: rene.vanguestaine@christensencomms.com

In U.S.
Ms. Linda Bergkamp
Phone: +1-480-614-3004
Email: linda.bergkamp@christensencomms.com

FAQ

What is the ADS ratio change announced by FLJ Group Limited?

FLJ Group Limited has announced an adjustment in the ratio of its American depositary shares (ADSs) representing its Class A ordinary shares. The ratio has been changed from 1 ADS representing 150 Class A ordinary shares to 1 ADS representing 15,000 Class A ordinary shares.

When will the ADS ratio change be effective?

The ADS ratio change will be effective as of November 2, 2023.

What is the reason behind the ADS ratio change?

The ADS ratio change reflects a share subdivision on a 1 to 100 basis authorized by FLJ Group Limited's shareholders in its annual general meeting held on September 18, 2023.