Weidai Updates ADS Ratio Change

HANGZHOU, China, Jan. 25, 2022 /PRNewswire/ -- Weidai Ltd. (the "Company" or "Weidai") (NYSE: WEI), a leading auto-backed financing solution provider in China, today announced that it will change the ratio of its American depositary shares ("ADSs") representing its Class A ordinary shares from one (1) ADS representing one (1) Class A ordinary share to one (1) ADS representing five (5) Class A ordinary shares. The effect of the ratio change on the ADS trading price on the New York Stock Exchange (the "NYSE") will take place at the open of trading on January 26, 2022 (U.S. Eastern Time). This change supersedes the original plan of three-to-one ADS ratio change as disclosed in the press release issued by the Company on January 13, 2022.