XUANWU CLOUD (02392) repurchased 8.351 million shares in the first half of the year under the restricted stock award plan.

Recently, XUANWU CLOUD (02392) released its mid-year report for 2024. During the reporting period, the company achieved a revenue of 650 million yuan, a year-on-year increase of 22.2%; at the same time, based on measures such as cost control, the company significantly reduced its net loss in the first half of the year by 69.5% to 6 million yuan. It is worth noting that during the reporting period, XUANWU CLOUD repurchased 8.351 million shares through the restricted stock incentive plan. As of the end of the reporting period, the trust entity of XUANWU CLOUD's restricted stock incentive plan held a total of 16.064 million shares, with 1.407 million shares allocated to employees as incentive shares. In response to this, the management of XUANWU CLOUD stated at the performance release conference that the company had already announced a buyback plan in the first half of the year. Previously, in order to attract more talent to join the company and incentivize outstanding core employees, the company chose to repurchase shares through a trust to implement employee incentives, in order to better support the construction of an excellent team and the long-term development of the business. In the future, with the implementation of new rules by the Hong Kong Stock Exchange allowing repurchasing of shares for stock inventory, the company will continuously monitor policy and market changes and make corresponding strategic adjustments to the repurchase method as appropriate.