Summary by Futu AI
XD Inc. (XD Inc.) announced on January 10, 2024 that it has further repurchased $1.25% convertible notes totaling $30,000,000 in principal amount, bringing the total repurchase to date to $90,400,000. The company said the move reflects confidence in the company's long-term business prospects and will increase shareholder returns. Currently, there are $189,600,000 convertible bonds outstanding, representing 32.29% of the original issue total. The Company plans to write off the repurchased bonds as soon as possible, noting that the repurchase will not have a significant impact on the Company's financial condition. Repurchase funds come from internal resources of the Company and its subsidiaries. Under the Listing Rules, if the repurchase amount exceeds 5% of the total initial principal amount, the Company will make a further announcement. The Company may not repurchase the bonds further in the future and reminds bondholders and potential investors to exercise caution when trading.