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SINGAPORE - Sound Group Inc. (NASDAQ:SOGP) Founder, Chief Executive Officer and Chairman Jinnan (Marco) Lai has purchased company shares in the open market, according to a press release statement issued Wednesday. The purchase comes as the stock has declined over 22% in the past week, though it maintains an impressive 555% gain over the last six months, according to InvestingPro data.
Lai cited the "accelerating development and expanding global applications of Voice AI" as factors unlocking greater growth potential for the audio technology company.
"My personal investment reflects my strong confidence in the Company’s long-term strategy and development prospects," Lai said in the statement.
The CEO also indicated he intends to continue purchasing Sound Group shares when appropriate, subject to the company’s insider trading policy and applicable securities laws.
Sound Group describes itself as a global audio-centric social and entertainment company focused on building an audio platform to improve connection and communication. The company has been listed on the Nasdaq since January 2020.
The announcement did not disclose the specific number of shares purchased or the transaction value.
In other recent news, Sound Group Inc. has completed its $4 million share repurchase program, resulting in the cancellation of 951,252 American Depositary Shares (ADSs). This move brings the company’s total issued and outstanding shares to approximately 832 million ordinary shares, equivalent to 4.16 million ADSs. In addition, Sound Group announced a special cash dividend of $1.00 per ADS, with an ex-dividend date set for October 1, 2025. The dividend will be paid on September 30, 2025, to shareholders of record as of September 15, 2025. These developments reflect Sound Group’s ongoing financial strategies and shareholder-focused initiatives.
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