WuXi XDC Cayman Inc. announced that its board has approved the deployment of internal funds of up to US$100.00 million to finance an on-market purchase of shares. The acquisition will be executed by a professional trustee for the company’s existing and future share schemes.

Management stated that the current market price of WuXi XDC’s shares does not, in its view, reflect the intrinsic value or business outlook of the group, presenting what it regards as a favorable repurchase window. The company emphasized that the planned buy-back can be funded entirely with existing cash while maintaining a solid financial position to support ongoing growth initiatives.

The programme will be carried out in accordance with the company’s memorandum and articles of association, Hong Kong Listing Rules and all other applicable regulations.

The board currently comprises three executive directors, three non-executive directors and three independent non-executive directors. Dr. Jincai Li serves as Executive Director and Chief Executive Officer.