XD Inc. commences an Equity Buyback for 48,043,070 shares, representing 10% of its issued share capital, under the authorization approved on June 23, 2022.

XD Inc. (SEHK:2400) commences share repurchases on January 10, 2023, under the program mandated by the shareholders in the Annual General Meeting held on June 23, 2022. As per the mandate, the company is authorized to repurchase up to 48,043,070 shares, representing 10% of its issued share capital. The repurchases will lead to an enhancement of the net asset value per share and/or earnings per share for the company.

The repurchases will be made out of the cash flow or working capital facilities available to the company, and will, in any event be made out of funds legally available for the purpose in accordance with the Articles and the applicable laws of the Cayman Islands and the Listing Rules. The authority shall expire at the earliest of the next Annual General Meeting, the date on which the next Annual General Meeting is required to be held or the date on which the authority is varied or revoked in a General Meeting. As of May 18, 2022, the company had 480,430,700 shares in issue.