Technology

X Financial Announces Results of Tender Offer

Published

6 months ago

July 15, 2024

SHENZHEN, China, July 15, 2024 /PRNewswire/ — X Financial (NYSE: XYF) (the “Company” or “we”), a leading online personal finance company in China, announced today the results of its previously announced tender offer (the “Tender Offer”) to purchase up to 2 million American Depositary Shares (the “ADSs”) of the Company, each representing six Class A ordinary shares, par value $0.0001 per share, at a price of $4.52 per ADS, less any applicable withholding taxes, less a cancellation fee of $0.05 per ADS accepted for purchase in the Tender Offer that will be paid to The Bank of New York Mellon, the Company’s ADS depositary (the “ADSs Depositary”), and without interest. The Tender Offer expired at 5:00 P.M., New York City time, on July 12, 2024.

Based on the results, a total of 2,026,640 ADSs were validly tendered and not withdrawn. The Company announced that the aggregate amount of ADSs that the Company intends to purchase is increased from the previously announced 2,000,000 to 2,026,640 to accept for purchase all ADSs validly tendered and not validly withdrawn. Except as described in this press release, the terms and conditions of the Tender Offers set forth in the Offer to Purchase remain unchanged.

“We are happy to execute this ADS buyback and provide liquidity to securityholders who were seeking an exit, at a premium to the prevailing market price, and at the same time provide remaining securityholders who did not want to participate an opportunity to increase their relative percentage ownership in X Financial at no additional cost to them,” commented Mr. Frank Fuya Zheng, CFO of X Financial. “We are dedicated to navigating the evolving economic landscape while ensuring the sustainable success of our business and returning value to our shareholders, and we plan to employ different methods, such dividends and shares buyback, as and when profitability and smooth operations allow. We are confident in our position as a public company and will drive long-term returns for our shareholders,” concluded Mr. Zheng.

Following completion of the Tender Offer, the Company expects to have 186,872,295 Class A ordinary shares (including Class A ordinary shares represented by ADSs) outstanding.

The information agent and depositary for the Tender Offer is Broadridge Corporate Issuer Solutions, LLC (“Broadridge”). Broadridge will promptly pay for all of the ADSs accepted for purchase in accordance with the terms and conditions of the Tender Offer. For all questions relating to the Tender Offer, please contact: Broadridge Corporate Issuer Solutions, LLC, Telephone (855) 793-5068 (toll-free), email shareholder@Broadridge.com.

About X Financial

X Financial (NYSE: XYF) is a leading online personal finance company in China. The Company is committed to connecting borrowers on its platform with its institutional funding partners. With its proprietary big data-driven technology, the Company has established strategic partnerships with financial institutions across multiple areas of its business operations, enabling it to facilitate and originate loans to prime borrowers under a risk assessment and control system.

For more information, please visit: http://ir.xiaoyinggroup.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of applicable U.S. securities laws, including statements about the Tender Offer, including the value of the ADSs to be offered to purchase in the tender offer and whether the Tender Offer is actually consummated. Forward-looking statements may be identified by words such as “seek”, “believe”, “plan”, “estimate”, “anticipate”, “expect”, “intend”, “continue”, “outlook”, “may”, “will”, “should”, look forward” “could”, or “might”, and other similar expressions. These forward-looking statements involve risks and uncertainties, as well as assumptions that, if they do not fully materialize or prove incorrect, could cause our results to differ materially from those expressed or implied by such forward-looking statements. Factors that could materially affect our business and financial results include, but are not limited to, the factors described in the forward-looking statement disclosure and “Risk Factors” section of our most recent Annual Report on Form 20-K. We do not have any intent, and disclaim any obligation, to update the forward-looking information to reflect events that occur, circumstances that exist or changes in our expectations after the date of this press release, except as required by law.

For more information, please contact:

X Financial
Mr. Frank Fuya Zheng
E-mail: ir@xiaoying.com

Christensen IR

In China
Mr. Rene Vanguestaine
Phone: +86-178-1749 0483
E-mail: rene.vanguestaine@christensencomms.com

In US
Ms. Linda Bergkamp
Phone: +1-480-614-3004
Email: linda.bergkamp@christensencomms.com

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SOURCE X Financial

Technology

TVCMALL Leads Wholesale Innovation for Simplified Online Retail Business Success at CES 2025

Published

2 hours ago

January 11, 2025

LAS VEGAS, Jan. 11, 2025 /PRNewswire/ — CES 2025, one of the largest tech events globally, concluded with over 4,000 exhibitors showcasing breakthroughs in AI, digital health, and mobility. TVCMALL, a leading one-stop B2B wholesaler, made its second consecutive appearance at the event, delivering comprehensive solutions and introducing a new brand, LEMONDA. With a focus on eco-friendly products and AI-driven accessories, TVCMALL is redefining the wholesale experience for global entrepreneurs.

Revolutionizing Wholesale with AI and Sustainability
TVCMALL is a one-stop platform offering over 1 million SKUs, including mobile accessories, smart tech, and consumer electronics. At CES 2025, the company presented a range of cutting-edge products, from biodegradable phone cases to AI-driven gadgets like Meta Quest 3 headbands, wireless chargers, power banks, and gaming accessories. As part of its innovative approach, TVCMALL launched LEMONDA, a lifestyle brand focused on sustainability. Featuring lightweight, corrosion-resistant resin smartwatch straps and eco-friendly packaging, LEMONDA aligns with the growing demand for green solutions in tech, further cementing TVCMALL’s commitment to a sustainable future.

Comprehensive Solutions for Retailers
TVCMALL simplifies sourcing with an extensive catalog and AI-powered ordering systems, allowing businesses to streamline purchasing and make data-driven decisions. With no minimum order quantity (MOQ) on most products and a flexible dropshipping service, TVCMALL supports businesses with customized solutions tailored to their needs. Whether through personalized packaging or exclusive designs, TVCMALL helps entrepreneurs enhance their brand visibility and stay competitive. The platform also integrates with Amazon and custom APIs for a seamless experience.

Commitment to Quality and Global Growth
TVCMALL is dedicated to helping entrepreneurs succeed in both established and emerging markets. By offering competitive prices, fast delivery, and in-depth market insights, TVCMALL empowers businesses to expand into regions like Europe, Southeast Asia, and Brazil. The company works with trusted partners like Dux Ducis, CaseMe, and Nillkin, ensuring the reliability and quality of its offerings. Additionally, TVCMALL provides value-added services like product photography, factory inspections, and certifications (CE, RoHS), assisting clients with smooth market entry.

“At TVCMALL, our vision is to build a more generous and thriving world,” said Leo Chen, Founder and Chairman of TVCMALL. “CES 2025 is not just an exhibition for us; it’s an opportunity to collaborate, innovate, and inspire a new era of retail and technology.”

For more information, please visit www.tvcmall.com or contact sales@tvcmall.com.

Photo – https://mma.prnewswire.com/media/2593486/TVCMALL_booth_layout_at_CES_2025.jpg

View original content:https://www.prnewswire.co.uk/news-releases/tvcmall-leads-wholesale-innovation-for-simplified-online-retail-business-success-at-ces-2025-302345615.html

Technology

The green power trading electricity volume in Turfan has surged significantly in 2024

Published

2 hours ago

January 11, 2025

TURFAN, China, Jan. 11, 2025 /PRNewswire/ — On January 9, 2024, data released by Xinjiang Power Trading Centre Co., Ltd. indicated that the green power trading electricity volume in the Turfan region reached 0.97 billion kWh, representing a remarkable year-on-year increase of up to 14 times. This substantial growth underscores the region’s successful transition towards green energy.

State Grid Turfan Power Supply Company has taken proactive measures to expedite the development of the green power market. The company has facilitated the government’s introduction of a renewable energy consumption action plan, specifying new energy consumption ratios for key energy-consuming entities and establishing a market mechanism with a high proportion of new energy. These efforts have effectively promoted the “new energy participation in all trading varieties of the 24-hour curve” trading model and ensured continuous market opening on working days, thereby better accommodating the fluctuating characteristics of new energy output.

Furthermore, State Grid Turfan Power Supply Company established a green power certificate service station in Gaochang District, providing customers with convenient green power trading services and fostering a green consumption atmosphere throughout society. During the Autonomous Region Tourism Development Conference and the Turfan Grape Festival, the company achieved 100% green power supply and assisted three export-oriented enterprises in achieving low-carbon transformation, thereby enhancing the international influence of their brands.

Looking ahead, State Grid Turfan Power Supply Company will continue to implement measures to expand its “Power Supply + Energy Efficiency Bill” service, guiding society towards more efficient, economical, and environmentally friendly electricity usage, and contributing to the clean and low-carbon transformation of local energy resources.

View original content:https://www.prnewswire.com/apac/news-releases/the-green-power-trading-electricity-volume-in-turfan-has-surged-significantly-in-2024-302348525.html

SOURCE State Grid Turfan Power Supply Company

Technology

Equipboard Unveils Sleek Redesign to Enhance Music Gear Discovery for Musicians Worldwide

Published

4 hours ago

January 11, 2025

Redesign Introduces Modern Features, Streamlined Navigation, and Richer Content to Inspire and Support Music Makers Globally

AUSTIN, Texas, Jan. 11, 2025 /PRNewswire-PRWeb/ — Equipboard, the leading online community for musicians and gear enthusiasts, announces the launch of its newly redesigned website. With a modern look, streamlined navigation, and powerful new features, the redesign sets a new standard for connecting artists, producers, and hobbyists with the tools they need to create music.

Since its inception in 2013, Equipboard has grown into the world’s largest database of music gear used by professionals and amateurs alike. The redesign reflects the platform’s commitment to fostering creativity, offering transparent information, and making gear discovery and purchasing easier and more enjoyable for its global user base.

What’s New?

Equipboard’s redesign is more than just a fresh coat of paint. It introduces a host of improvements aimed at elevating the way users explore, share, and connect over their favorite gear:

Modernized Design: A sleek, responsive layout ensures a seamless experience across all devices, with improved readability and accessibility. Enhanced Navigation: Faster, more intuitive browsing helps users discover gear, artists, and inspiration effortlessly. Whether searching for a guitarist’s pedalboard or a producer’s go-to synth, the information is now at their fingertips. Richer Content: Equipboard now features in-depth guides, expert-curated collections, and a revamped artist gear section to inspire and inform users at all levels of their musical journey. Personalized Experience: Registered users can now enjoy a more tailored interface, saving their favorite gear and creating wishlists for their next creative adventure. Price Comparisons Across Leading Retailers: Equipboard helps musicians make informed decisions by comparing prices on music gear from top retailers, ensuring they get the best value for their investment. Community-Focused Features: New tools make it easier for users to contribute to Equipboard’s ever-growing database, ensuring the platform remains the most trusted source for music gear information.

“Equipboard has always been about empowering musicians by connecting them with the tools and insights they need,” said Michael Pierce, Co-Founder. “This redesign reflects our commitment to innovation and community, creating an experience that’s as inspiring as the gear our users discover. From in-depth artist insights to real-time price comparisons, we’re excited to see how these improvements help musicians worldwide make better gear choices and create amazing music.”

About Equipboard

Equipboard is the ultimate online resource for musicians and gear enthusiasts. With a mission to provide transparent, community-driven information about the gear used by artists and professionals, Equipboard has become a trusted destination for millions of music creators. The platform also simplifies the buying process with its innovative price comparison tool, helping users find the best deals from leading retailers. From electric guitars to studio monitors, Equipboard’s extensive database helps users make informed decisions about their music-making journey.

The redesigned Equipboard is now live at https://equipboard.com, offering a fresh look and enhanced tools to support music creators in exploring the gear behind their favorite artists’ sound.

Media Contact

Michael Pierce, Equipboard, 888-888-8888, contact@equipboard.com, https://equipboard.com/

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SOURCE Equipboard