Summary by Moomoo AI
XIOXIN TECHNOLOGY HOLDINGS LIMITED (“XIOXIN TECHNOLOGY”) ANNOUNCED THAT THE BOARD OF DIRECTORS HAS APPROVED A SHARE REPURCHASE REPURCHASE OR DIVIDEND PLAN TO BE IMPLEMENTED BETWEEN 2024 AND 2026. The scheme involves the repurchase of ordinary shares of the delinquent company on the public market and/or the payment of dividends to shareholders. In 2024, the Company will conduct a share repurchase write-off of not less than RMB680 million; and in the three years 2023 to 2025, the Company will carry out share repurchase write-offs amounting to no more than 60% of the total net profit attributable to the company's owners. In addition, the total amount of share repurchase write-offs and/or dividend distributions will not be less than RMB25 billion. The Board of Directors said the move aims to improve returns to protect the interests of investors and support the sustainability of the company. All share repurchase write-offs or dividend distributions will be subject to relevant laws and regulations and subject to market conditions and the Board's final decision.