XTALPI Holdings Limited reported a modest contraction in its share base for September 2026, highlighting an active capital-management program centred on buy-backs and equity-based incentives.

Authorised Capital • Authorised share capital remained unchanged at USD 1.00 million, representing 100 billion ordinary shares with a par value of USD 0.00001 each.

Issued and Treasury Shares • Issued shares (excluding treasury) fell by 2.29 million to 4.301 billion, a 0.05 % reduction versus August. • Treasury shares increased by 299,000, bringing total issued shares (including treasury) to 4.301 billion. • The company repurchased 2.98 million shares during the month, of which 2.68 million were cancelled and 0.30 million are held as treasury stock. Repurchase prices disclosed on 7 and 24 September averaged HKD 7.16 per share. • The public float continues to meet the 25 % threshold stipulated by the Hong Kong Stock Exchange.

Equity Incentive Movements • Under the Pre-IPO ESOP, 187,000 options were exercised and 25,000 cancelled, leaving 217.19 million options outstanding. • The Post-IPO Share Option Scheme saw 62,220 options lapse, ending the month with 10.51 million outstanding. • The 2026 Share Scheme issued 668,920 new options, lifting outstanding options under this plan to 35.65 million. • Cumulative capacity for future option grants under the Post-IPO and 2026 schemes stands at 136.82 million shares.

Convertible Securities • Zero-coupon convertible bonds due 2027 remained unchanged at HKD 2.87 billion. The instruments are convertible at HKD 13.85 per share and could add up to 206.93 million new shares if fully converted.

Restricted Share Units • No new shares were issued under the Post-IPO RSU Scheme or the 2026 Share Scheme during the month. Remaining share reserves are 11.75 million and 9.13 million, respectively.

Key Takeaways XTALPI’s September activity underscores the company’s ongoing share-buyback strategy, modestly shrinking its free-float share count while maintaining compliance with HKEX public-float rules. Concurrently, refreshed option grants signal a continued emphasis on equity incentives, supported by substantial headroom for additional issuances. The unchanged position in its HKD 2.87 billion zero-coupon convertible bonds suggests stable leverage, with a potential conversion pathway equivalent to approximately 4.8 % of current outstanding shares.