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X Financial Announces US$48.7 Million Share Repurchase from Major Shareholder

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SHENZHEN, China, Dec. 19, 2024 /PRNewswire/ — X Financial (NYSE: XYF) (the “Company” or “we”), a leading online personal finance company in China, today announced that it has entered into a repurchase agreement with a major shareholder on December 16, 2024, pursuant to which the Company will repurchase 6,349,206 American depositary shares (“ADSs”), representing 38,095,236 Class A ordinary shares of the Company, at a price of US$7.67 per ADS with a total repurchase price of approximately US$48.7 million (the “Repurchase”).

In order to complete the Repurchase, the Company’s board of directors (the “Board”) approved a new share repurchase plan under which the Company may repurchase up to US$50 million worth of its Class A ordinary shares, including the Class A ordinary shares represented by ADSs, effective until June 30, 2026. Upon completion of the Repurchase, the Company’s two previous share repurchase programs will complete, and approximately US$15.9 million will remain for future potential repurchases under the new US$50 million share repurchase plan.

Mr. Frank Fuya Zheng, Chief Financial Officer of the Company, commented, “We are pleased with this share repurchase agreement as it reflects our confidence in our long-term growth potential and our commitment to enhancing shareholder value. This repurchase also underscores our robust financial position. We are committed to a thoughtful and balanced approach to capital management to ensure that we continue to prioritize both growth opportunities and shareholder value creation.”

“In 2024, we returned a total of approximately US$76.0 million in value to our shareholders through dividends and share repurchases, including US$16.5 million in cash dividends, US$9.2 million in the tender offer, US$48.7 million in the recent repurchase mentioned above, and US$1.6 million in other repurchases. The total number of shares repurchased in 2024, including both ADSs and Class A ordinary shares, was equivalent to approximately 52.2 million Class A ordinary shares, or 17.8% of our ordinary shares issued and outstanding as of December 31, 2023. Going forward, we remain committed to delivering profitable growth and returning value to our shareholders through ongoing dividends and share repurchases.”

Under the new share repurchase plan, the repurchase may be made from time to time through various means, including open market transactions, privately negotiated transactions, and through other legally permissible means, depending on market conditions and in accordance with applicable rules and regulations. The manner, timing and amount of any share repurchases will be determined by the Company’s management in its discretion based on its evaluation of various factors. The Company expects to fund the new repurchase plan out of its existing cash balance.

About X Financial

X Financial (NYSE: XYF) (the “Company”) 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.

Safe Harbor Statement

This announcement contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “potential,” “continue,” “ongoing,” “targets,” “guidance” and similar statements. The Company may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Any statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements that involve factors, risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Such factors and risks include, but not limited to the followings: the Company’s goals and strategies; its future business development, financial condition and results of operations; the expected growth of the credit industry, and marketplace lending in particular, in China; the demand for and market acceptance of its marketplace’s products and services; its ability to attract and retain borrowers and investors on its marketplace; its relationships with its strategic cooperation partners; competition in its industry; and relevant government policies and regulations relating to the corporate structure, business and industry. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the SEC. All information provided in this announcement is current as of the date of this announcement, and the Company does not undertake any obligation to update such information, except as required under applicable 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

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Cell Phones for Soldiers partners with AI reverse logisitics giant Vendidit, relocates fulfillment operations to Austin area

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The revered charity processes nearly 7,000 devices a month to help veterans, will create new jobs

AUSTIN, Texas, Dec. 19, 2024 /PRNewswire/ — Cell Phones for Soldiers, a national nonprofit dedicated to providing cost-free communication services to servicemen and women since 2004 has selected Austin-based Vendidit to handle their fulfillment process.

Under the new partnership, Vendidit will serve as the secure conduit for donations to the nonprofit from both businesses and individuals alike.

“When people send us their devices, they undergo a thorough inspection process to ensure they are in good condition for our veterans. This is crucial work, and we are confident that Vendidit is the ideal fulfillment partner to guarantee that this process is carried out securely and efficiently. By doing so, we can ensure that people’s generous donations reach those Veterans who need them as quickly as possible,” said Rob Bergquist, the founder of Cell Phones for Soldiers.

The organization currently processes about 7,000 devices every month and gets them in the hands of veterans who could not otherwise afford them. For devices that can’t be salvaged for ‘upcycling,’ Vendidit will responsibly recycle them and keep them out of landfills. In addition to cell phones, the charity also accepts portable devices such as MP3 players, tablets and calling cards.

Donations can be sent to the Vendidit warehouse, located at 18919 N. Heatherwilde Boulevard, Suite 125 in Pflugerville, TX, 78660. This location will also be hiring veterans for new jobs.

Vendidit launched earlier this year, as the newest co-creation of reverse logistics leader, Gary Stephens, and one of Austin’s most famous businessmen, John Paul DeJoria, who also co-founded The Patron Spirits Company and Paul Mitchell hair products.

DeJoria is famous for not only his entrepreneurship, but also his philanthropy. Once homeless himself, he continues to find new ways to give back to those who need it the most through the companies he invests in.

The homeless veteran population has surged over the past few years, as has the suicide rate. On average, the veteran suicide rate is 57% higher than the rest of the American population. “With statistics like these, donating to Cell Phones for Soldiers is a literal lifeline to help unhoused veterans who often don’t have a phone or any way to seek vital support, such as calling a suicide hotline,” said Jennifer Gooding of Narwhal Media Group, a spokesperson for the partnership.

The relationship between the two organizations started decades ago when Bergquist’s work caught the attention of Stephens. “I’ve known Rob since he created this incredible nonprofit when he was just a kid,” said Stephens, “The fact that it is still going strong 20 years later is a testament to not only the generous people and organizations that donate, but to his relentless dedication of making sure the charity thrived far past its inception. We at Vendidit are honored to be part of making the next 20 years even stronger than the first.”

About Cell Phones for Soldiers

Cell Phones for Soldiers is a national non-profit organization dedicated to providing cost-free communication services and emergency funding to active-duty military members and veterans. Since 2004, the charity has provided more than 400 million minutes of airtime to servicemen and women deployed around the world, by recycling more than 25 million cell phones reducing the impact on landfills. 

About Vendidit

Vendidit is a proprietary, end-to-end software platform that connects qualified secondary market buyers with retail returns sellers to drive maximum value for returns. The platform puts interested parties together seamlessly and simultaneously when returned products have the highest value. It was co-founded by renowned entrepreneurs John Paul DeJoria and Gary Stephens and other reverse logistics industry veterans who saw a problem to be solved: retailers have returns inventory they can’t sell efficiently, and secondary market sellers (who can move inventory for them) don’t have enough of it or an efficient way to procure it.  In five words, Vendidit converts limited inventory into cash.

About Gary Stephens

Gary is a visionary technology executive and is an industry thought leader in reverse logisitics. He is the imagineer of both Vendidit, launched in 2024, and Renew Logic, which he started from a single pallet of recyclables in 2016. His previous career includes work on the Windows 95 launch team, being head of Windows NT updates under Steve Ballmer and Bill Gates and building a third electronics recycling company from scratch to $400M. His positive contributions to ethical business practices and industry improvements led to testifying before Congress in 2018 about smart, diverse employment policies. Beyond tech, Gary’s diverse passions include race car driving, piloting and philanthropy – particularly helping dog rescues. He’s a proven leader, blending business acumen with a profound commitment to societal impact.

Media Contact:
Jennifer Gooding
Narwhal Media Group
jgooding@narwhalmediagroup.com
646.981.0278

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SOURCE Vendidit

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Multiple Identifiers Signal Increased Fraud Risk, ValidiFI Bank Account and Payment Intelligence Report Reveals

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New Report Highlights New Fraud Detection Patterns and Risk Factors in Bank Account Behavior

ALPHARETTA, Ga., Dec. 19, 2024 /PRNewswire/ — ValidiFI, Inc., the leading provider of predictive bank account and payment intelligence, today released its Q4 2024 Bank Account and Payment Intelligence Report, identifying alarming patterns in fraudulent bank account patterns and providing organizations with critical insights to combat evolving fraud threats.

“These findings underscore why organizations need to move beyond standard account validation.”

ValidiFI’s report highlights how traditional, one-dimensional verification processes often miss sophisticated fraud patterns that can only be detected through comprehensive cross-referencing of identity elements like phone, email, and address against a vast network of bank account data.

Key findings from ValidiFI’s Q4 analysis reveal:

SSN: Fraud risk increases nearly 60% when 3+ SSNs are tied to a single account in the last 90 days.Email & SSN: Consumers with 3+ emails linked to the same SSN in the last 30 days are 2X higher fraud risk.Phone & SSN: Consumers with 3+ phone numbers associated with the same SSN in the last 30 days have a 2.25X greater fraud risk.Phone & Zip: Fraudsters are 2.3X more likely to have mismatched phone numbers and zip codes.

“These findings underscore why organizations need to move beyond standard account validation to implement a more comprehensive, multi-layered approach to fraud detection,” said John Gordon, CEO of ValidiFI. “At first glance, consumers may pass standard account validation checks with no apparent signs of fraud. However, by assessing the connections between the bank account, consumer identity elements, and past payment performance, organizations can uncover critical risk indicators, revealing the truth behind an account’s risk profile.”

The report highlights real-world consumers who initially appeared low risk based on basic account validation. However, when analyzed with 200 unique signals and insights from ValidiFI’s data network, their true risk profiles emerged, uncovering patterns and statistics that clearly indicate fraudulent activity. This demonstrates how organizations can effectively detect and prevent sophisticated fraud attempts, while boosting confidence in the legitimacy of both the account and the individual behind it.

For more information and to download the complete Q4 2024 Bank Account and Payment Intelligence Report: “Detect Fraud in Real-Time: Validating the Identity Behind the Account,” visit https://validifi.com/Q4-2024report-detectfraud/.

About ValidiFI
ValidiFI is the leading provider of predictive bank account and payment intelligence. Leveraging the Omni Platform, ValidiFI empowers organizations and financial institutions with actionable insights to help validate bank accounts, detect fraud, and assess credit risk. By analyzing the intricate connections between bank accounts, consumers, and payment performance, ValidiFI offers a more comprehensive view. ValidiFI serves as a trusted partner, unlocking the power of predictive bank account and payment intelligence through credentialled and non-credentialed solutions, enabling more confident transactions. For more information, visit validifi.com.

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SOURCE ValidiFI

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Radius Care Offers Its AI Platform to DOGE to Drive Historic Savings in Medicare

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WEST PALM BEACH, Fla., Dec. 19, 2024 /PRNewswire/ — Radius Care, a leading AI-powered healthcare platform, has announced its readiness to collaborate with the Department of Government Efficiency (DOGE) to deliver transformative savings and improve healthcare outcomes within Medicare. Fully operational, FHIR-compliant, and capable of processing petabytes of claims data, Radius Care can launch a national pilot program within 90 days to address inefficiencies and reduce systemic waste.

Healthcare doesn’t need more spending—it needs smarter solutions. Healthcare remains the government’s largest expense, with $760 billion to $935 billion lost annually to inefficiencies (JAMA). Delayed responses to health changes, lack of transparency, and rising costs compound these issues, impacting both patients and taxpayers. At the heart of these challenges lies a critical inefficiency: neglecting the patient. While reform efforts often focus on providers and payors, the most crucial stakeholder—the patient—frequently encounters unclear pathways, delayed decisions, and opaque costs.

Radius Care provides a health monitoring and alerting system powered by AI and historical healthcare transaction analysis. By tracking health changes in real time, the platform prevents minor issues from escalating, reduces waste, and empowers patients with cost transparency. Radius Care enables early intervention with health alerts, reducing hospitalizations and improving patient outcomes. Its machine learning algorithms analyze billions of healthcare transactions to recommend cost-effective treatments and optimize resource allocation. The platform also reduces hidden fees and administrative waste for both patients and payors by offering unprecedented cost transparency.

“Imagine a healthcare system where patients receive health alerts about their health changes and are guided to providers proven to deliver faster recoveries and lower costs,” said Justin Huddy, Founder and CEO of Radius Care. “Radius Care turns this vision into reality by combining machine learning with actionable insights, similar to how WAZE navigates drivers using data from other drivers.”

By leveraging Machine Learning and petabytes of claims data, Radius Care expects to deliver significant improvements within Medicare. Its platform is designed to reduce preventable hospital readmissions by 20%, saving Medicare $3.4 billion annually. Through evidence-based recommendations, patients can receive the right care the first time, which optimizes care pathways and reduces unnecessary treatments. Additionally, the platform enhances cost transparency, empowering patients to make more informed financial decisions and saving them an average of $1,200 annually in out-of-pocket expenses.

Historically, private insurers have resisted releasing de-identified claims data. DOGE has a historic opportunity to change this by mandating transparency and access to historical healthcare transactions. By unlocking actionable insights, platforms like Radius Care can identify optimal care pathways, reduce inefficiencies, and improve patient outcomes. Transparency allows for enhanced cost clarity, better financial planning, and improved trust in the healthcare system.

Radius Care’s platform has the potential to deliver measurable, large-scale cost savings. By reducing hospital readmissions along with eliminating unnecessary treatments, and optimizing care pathways, Radius Care can save $10–$15 billion annually for Medicare and Medicaid. Extending these efficiencies to private insurers could deliver an additional $20–$30 billion annually, while the national impact is projected to reach $50–$75 billion—a significant contribution to DOGE‘s mandate of reducing federal spending by $2 trillion.

In a bold commitment to innovation and fiscal responsibility, Justin Huddy, Founder and CEO of Radius Care, states: “Radius Care stands ready to provide our AI platform to DOGE for use within Medicare & Medicaid. We fully expect it will deliver drastic cost savings, reduce waste, and improve care outcomes, resulting in billions of dollars in annual savings for taxpayers while assisting DOGE in meeting its mandate.”

Radius Care will provide a proven, ready-to-deploy solution for achieving unprecedented healthcare savings and efficiency. The company invites DOGE leadership to schedule a discussion on implementing the platform as a pilot program to deliver immediate and measurable benefits for Medicare beneficiaries and taxpayers alike. The tools are ready, and the public demand is clear. The time to act is now.

About Radius Care

Radius Care is an AI-powered healthcare platform designed to reduce costs, improve outcomes, and empower patients through data-driven insights. Its scalable and FHIR-compliant infrastructure ensures seamless integration with government and private healthcare systems, delivering measurable savings and efficiency across the U.S. healthcare ecosystem.

Contact:
Vanessa Brand
Vice President of Client Strategies
Radius Care
732-337-1520 | 387957@email4pr.com | www.RadiusTechnologies.ai 

View original content:https://www.prnewswire.com/news-releases/radius-care-offers-its-ai-platform-to-doge-to-drive-historic-savings-in-medicare-302336173.html

SOURCE Radius Care

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