XChange TEC.INC Announces Plan to Implement ADS Ratio Change
ADS Ratio Change Announcement: XChange TEC.INC plans to change the ratio of its American depositary shares (ADSs) from 1 ADS representing 120 Class A ordinary shares to 1 ADS representing 2,400 Class A ordinary shares, effective May 9, 2025.
Impact on ADS Holders: This change will function as a one-for-twenty reverse split, requiring holders to exchange their old ADSs for new ones, with no fractional new ADSs issued; instead, fractional entitlements will be sold and proceeds distributed to ADS holders.
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