Summary by Moomoo AI
XD Inc. (XD Inc.) announced on January 18, 2024 that it has further repurchased $1.25% convertible notes totaling $30,000,000 in principal amount, totaling $120,400,000 to date, representing approximately 43% of the original issue. The company said the move reflects confidence in the company's long-term business prospects and will increase shareholder returns. Currently, about 57% of the bonds have not been repurchased, and the company plans to write off the repurchased bonds as soon as possible. The Board of Directors considers that the repurchase will not have a significant impact on the company's financial condition. Whether further repurchases are made in the future will be at the sole discretion of the Company and there is no guarantee of the timing, amount or price of the repurchase.