Summary by Moomoo AI
JD.com, Inc., a leading technology and service provider, announced on April 18, 2024, that it has repurchased 87.5 million Class A ordinary shares, equivalent to 43.8 million ADSs, for a total of US$1.2 billion in the first quarter of 2024. This buyback represents approximately 2.8% of its ordinary shares outstanding as of December 31, 2023. The repurchases were made under the company's share repurchase programs on both NASDAQ and the Hong Kong Stock Exchange. The previous repurchase program, which expired on March 17, 2024, saw the company buy back shares worth US$2.1 billion. Under the new program effective until March 18, 2027, JD.com has already repurchased shares amounting to US$0.5 billion, with US$2.5 billion remaining for future buybacks. JD.com's efforts reflect its ongoing commitment to enhancing shareholder value and confidence in its business growth strategies.