XChange TECINC (XHG) has released an update.
XChange TEC.INC has completed a strategic financial move by converting a $27 million debt into equity, issuing over 58 trillion Class A ordinary shares to Burgeon Capital as repayment. Additionally, the company has adopted a 2024 Equity Incentive Plan, under which it issued approximately 6 trillion Class B ordinary shares to Golden Stream Ltd., to be held in trust for plan participants. This has significantly increased the company’s issued shares, reflecting a new total of over 61 trillion Class A and 6 trillion Class B shares.
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