Ever-Glory Seeks Shareholders' Vote For Going-Dark and Announces $3.5 Million Stock Repurchase Program

NEW YORK, Oct. 31, 2022 /PRNewswire/ -- Ever-Glory International Group, Inc. (the "Company" or "Ever-Glory") (NASDAQ: EVK), a retailer of branded fashion apparel and a leading global apparel supply chain solution provider, today filed a preliminary proxy statement to solicit votes for, among other proposals,  the proposed termination of the registration of  the Company's common stock under Section 12(g) of the Securities Exchange Act of 1934, as amended (the "Exchange Act") and the suspension of the Company's duty to file periodic reports and other information with the SEC under Section 15(d) of the Exchange Act. The Board of Directors deems it in the best interest of the Company and its shareholders to "go dark" which could save the Company approximately half a million each year in connection with our Exchange Act obligations, allow management and our employees to focus more of their attention on our business operations, and remove some of the negative publicity from our retail customers and business partners in China we recently encountered as a U.S. listed company.