WUXI XDC Plans Up to $100 Million Share Buyback Using Internal Reserves

Stock News
05/18

WUXI XDC (02268) announced that the company has resolved to utilize up to US$100 million of its internal funds. These funds are designated for a professional trustee, to be appointed by the company under its share plan, to purchase the company's shares on the open market at prevailing market prices from time to time. The company believes that the current trading price of its shares does not reflect their intrinsic value or the company's actual business prospects, presenting a favorable opportunity for the proposed share purchase. The board of directors is of the opinion that the group's current financial resources are sufficient to implement the proposed share buyback using internal funds while maintaining a solid financial position to support the ongoing growth of its operations.

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