ECARX Announces US$20,000,000 Share Repurchase Program
ECARX Holdings (Nasdaq: ECX) has announced a share repurchase program authorizing the buyback of up to $20 million worth of ordinary shares. The program will run until September 30, 2025. Repurchases may be executed through open market transactions, private negotiations, block trades, or other legal means, subject to market conditions and regulations. The company plans to fund the buybacks using its existing cash reserves. The board will periodically review and may adjust the program's terms and size. All transactions will comply with SEC Rules 10b-18 and 10b5-1 requirements.
ECARX Holdings (Nasdaq: ECX) ha annunciato un programma di riacquisto di azioni che autorizza il riacquisto di azioni ordinarie fino a un valore di 20 milioni di dollari. Il programma durerà fino al 30 settembre 2025. I riacquisti possono essere effettuati tramite transazioni sul mercato aperto, negoziazioni private, operazioni in blocco o altri mezzi legali, soggetti a condizioni di mercato e normative. L'azienda prevede di finanziare i riacquisti utilizzando le proprie riserve di liquidità esistenti. Il consiglio di amministrazione esaminerà periodicamente e potrà adeguare i termini e la dimensione del programma. Tutte le transazioni saranno conformi ai requisiti delle norme SEC 10b-18 e 10b5-1.
ECARX Holdings (Nasdaq: ECX) ha anunciado un programa de recompra de acciones que autoriza la recompra de acciones ordinarias por un valor de hasta 20 millones de dólares. El programa se llevará a cabo hasta el 30 de septiembre de 2025. Las recompras pueden ejecutarse a través de transacciones en el mercado abierto, negociaciones privadas, operaciones en bloque u otros medios legales, sujetos a las condiciones del mercado y regulaciones. La compañía planea financiar las recompras utilizando sus reservas de efectivo existentes. La junta revisará periódicamente y podrá ajustar los términos y el tamaño del programa. Todas las transacciones cumplirán con los requisitos de las normas SEC 10b-18 y 10b5-1.
ECARX Holdings (Nasdaq: ECX)는 2천만 달러 상당의 보통주 매입을 승인하는 자사주 매입 프로그램을 발표했습니다. 이 프로그램은 2025년 9월 30일까지 진행됩니다. 매입은 공개 시장 거래, 개인 협상, 차익 거래 또는 기타 법적 수단을 통해 시장 조건과 규제에 따라 실행될 수 있습니다. 회사는 기존 현금 보유액을 사용하여 매입을 자금 조달할 계획입니다. 이사회는 주기적으로 프로그램의 조건과 규모를 검토하고 조정할 수 있습니다. 모든 거래는 SEC 규정 10b-18 및 10b5-1 요건을 준수합니다.
ECARX Holdings (Nasdaq: ECX) a annoncé un programme de rachat d'actions autorisant le rachat d'actions ordinaires d'une valeur allant jusqu'à 20 millions de dollars. Le programme est valable jusqu'au 30 septembre 2025. Les rachats peuvent être réalisés via des transactions sur le marché libre, des négociations privées, des transactions en bloc ou d'autres moyens légaux, sous réserve des conditions de marché et des réglementations. La société prévoit de financer les rachats avec ses réserves de liquidités existantes. Le conseil d'administration examinera périodiquement et pourra ajuster les termes et la taille du programme. Toutes les transactions seront conformes aux exigences des règles de la SEC 10b-18 et 10b5-1.
ECARX Holdings (Nasdaq: ECX) hat ein Aktienrückkaufprogramm angekündigt, das den Rückkauf von Stammaktien im Wert von bis zu 20 Millionen Dollar autorisiert. Das Programm läuft bis zum 30. September 2025. Rückkäufe können durch Transaktionen am offenen Markt, private Verhandlungen, Blockgeschäfte oder andere legale Mittel erfolgen, vorbehaltlich der Marktbedingungen und Vorschriften. Das Unternehmen plant, die Rückkäufe mit seinen vorhandenen Bargeldreserven zu finanzieren. Der Vorstand wird das Programm regelmäßig überprüfen und kann die Bedingungen und die Größe anpassen. Alle Transaktionen müssen den Anforderungen der SEC-Regeln 10b-18 und 10b5-1 entsprechen.
- Authorization of $20 million share repurchase program indicates confidence in company's value
- Program potentially increases shareholder value through reduced share count
- Company has sufficient cash reserves to fund the buyback
- Buyback reduces cash available for operations and growth investments
- $20 million allocation might limit other strategic opportunities
Insights
The buyback signals management's confidence in the company's intrinsic value and financial position, particularly noteworthy for a growth-stage mobility tech provider. Funding from existing cash indicates healthy liquidity, though investors should monitor the balance between capital return and growth investment needs. The program's Rule 10b-18 compliance framework ensures market stability while potentially providing price support.
The program's structure, allowing various execution methods and an extended timeframe, provides management with tactical flexibility to optimize purchase timing and maximize value creation. The market typically views such programs positively, especially when funded from existing cash reserves, as it demonstrates financial strength without compromising growth potential. This could help establish a price floor and reduce stock volatility, particularly beneficial given the current market dynamics in the tech sector.
SHANGHAI, Dec. 20, 2024 (GLOBE NEWSWIRE) -- ECARX Holdings, Inc. (Nasdaq: ECX) (“ECARX” or “the Company”), a global mobility tech provider, today announced its board of directors has authorized a share repurchase program under which the Company may repurchase up to US
The Company’s proposed repurchases may be made from time to time in the open market at prevailing market prices, in privately negotiated transactions, in block trades and/or through other legally permissible means, depending on market conditions and in accordance with applicable rules and regulations. The timing and dollar amount of repurchase transactions will be subject to the Securities and Exchange Commission Rule 10b-18 and/or Rule 10b5-1 requirements. The Company’s board of directors will review the share repurchase program periodically, and may authorize adjustment of its terms and size. The Company expects to fund the repurchases out of its existing cash balance.
About ECARX
ECARX (Nasdaq: ECX) is a global automotive technology provider with capabilities to deliver turnkey solutions for next-generation smart vehicles, from the system on a chip (SoC), to central computing platforms, and software. As automakers develop new electric vehicle architectures from the ground up, ECARX is developing full-stack solutions to enhance the user experience, while reducing complexity and cost.
Founded in 2017 and listed on the Nasdaq in 2022, ECARX now has over 1,800 employees based in 12 major locations in China, UK, USA, Sweden, Germany, and Malaysia. The co-founders are two automotive entrepreneurs, Chairman and CEO Ziyu Shen, and Eric Li (Li Shufu), who is also the founder and chairman of Zhejiang Geely Holding Group — with ownership interests in global brands including Lotus, Lynk & Co, Geely Galaxy, Polestar, smart, and Volvo Cars. ECARX also works with other well-known automakers, including FAW and Dongfeng Peugeot-Citroën. To date, ECARX products can be found in over 7.3 million vehicles worldwide.
Safe Harbor Statement
This release contains statements that are forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. These statements are based on management’s beliefs and expectations as well as on assumptions made by and data currently available to management, appear in a number of places throughout this document and include statements regarding, amongst other things, results of operations, financial condition, liquidity, prospects, growth, strategies and the industry in which we operate. The use of words “expects”, “intends”, “anticipates”, “estimates”, “predicts”, “believes”, “should”, “potential”, “may”, “preliminary”, “forecast”, “objective”, “plan”, or “target”, and other similar expressions are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to a number of risks and uncertainties that could cause actual results to differ materially, including, but not limited to statements regarding our intentions, beliefs or current expectations concerning, among other things, results of operations, financial condition, liquidity, prospects, growth, strategies, future market conditions or economic performance and developments in the capital and credit markets and expected future financial performance, and the markets in which we operate. For a discussion of these and other risks and uncertainties that could cause actual results to differ materially from those expressed in any forward-looking statement, see ECARX’s filings with the U.S. Securities and Exchange Commission. ECARX undertakes no obligation to update or revise and forward-looking statements to reflect subsequent events or circumstances, except as required by applicable law.
Investor Contacts:
ir@ecarxgroup.com
Media Contacts:
ecarx@christensencomms.com
FAQ
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