HK$400 Million Automatic Share Buy-Back Program

The announcement details XD Inc.’s launch of a HK$400 million Automatic Share Buy‑Back Program, effective June 12 2026 and scheduled to conclude by November 11 2026 or earlier if the cap is reached. The program is governed by a Share Buy‑Back Agreement with an independent broker, who will execute purchases independently of the company and its connected persons. The broker’s actions are constrained by pre‑determined parameters, ensuring non‑discretionary buy‑backs that comply with Listing Rules and the Securities and Futures Ordinance. A waiver from Rule 10.06(2)(e) was granted by the Stock Exchange, allowing buy‑backs during restricted periods surrounding interim results announcements; this waiver is justified by guidance letter GL117‑23 and aims to reduce operational burdens while mitigating insider‑trading risks. The program’s scope covers the Hong Kong Stock Exchange, with a five‑month duration and a target of HK$400 million in share repurchases. The company confirms that all bought‑back shares will be cancelled, and the program is not expected to trigger mandatory offer obligations under the Takeovers Code. Methodologically, the broker will disclose each purchase via next‑day disclosure returns, maintaining information barriers to prevent insider information flow. The Board views the program as beneficial for shareholders and emphasizes that buy‑backs will be subject to market conditions and broker discretion within the set parameters.