GreenTree Hospitality : Announces Share Repurchase Program - Form 6-K

GreenTree Hospitality Group Ltd. Announces Share Repurchase Program

GreenTree Hospitality Group Ltd. (NYSE: GHG) ("GreenTree" and the "Company"), a leading hospitality and restaurant management group in China, today announced that its board of directors has authorized a share repurchase program, under which GreenTree may repurchase up to US$10 million worth of its outstanding Class A ordinary shares of a par value of US$0.50 each and/or American Depositary Shares ("ADSs") over the next two years.

The Company's proposed repurchases may be made from time to time through open market transactions at prevailing market prices, privately negotiated transactions, block trades or any combination thereof, depending on market conditions and the trading price of the Company's ADSs, among other factors, and in accordance with applicable rules and regulations. GreenTree board of directors will review the share repurchase program periodically, and may amend the terms of the program.

Safe Harbor Statements

This press release contains forward-looking statements made under the "safe harbor" provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and the U.S. Private Securities Litigation Reform Act of 1995. In some cases, these forward-looking statements can be identified by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to," "confident," "future," or other similar expressions. GreenTree may also make written or oral forward-looking statements in its reports filed with or furnished to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Any statements that are not historical facts, including statements about or based on GreenTree's current beliefs, expectations, assumptions, estimates and projections about us and our industry, are forward-looking statements that involve known and unknown factors, risks and uncertainties that may cause our actual results, performance or achievements to be materially different from those expressed or implied by the forward-looking statements. Such factors and risks include, but not limited to the following: GreenTree's goals and growth strategies; its future business development, financial condition and results of operations; trends in the hospitality industry in China and globally; competition in our industry; fluctuations in general economic and business conditions in China and other regions where we operate; the regulatory environment in which we and our franchisees operate; and assumptions underlying or related to any of the foregoing. You should not place undue reliance on these forward-looking statements. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the U.S. Securities and Exchange Commission. All information provided, including the forward-looking statements made, in this press release are current as of the date of the press release. Except as required by law, GreenTree undertakes no obligation to update any such information or forward-looking statements to reflect events or circumstances after the date on which the information is provided or statements are made, or to reflect the occurrence of unanticipated events.