XCH News & Events

XCHG announced that it received a written notice from Nasdaq, notifying the company that it is not currently in compliance with the minimum bid price requirement set forth in Nasdaq Listing Rule 5450, as the closing bid price of the company's American depositary shares was below $1.00 per ADS for 30 consecutive business days.

XCHG announced that it has entered into a securities purchase agreement with a single global institutional investor for the purchase and sale of 7M of the company's American depositary shares in a registered direct offering. The gross proceeds from the offering are expected to be approximately $4.375M, before deducting placement agent commissions and other offering expenses. The closing of the offering is expected to occur on or about June 29, subject to the satisfaction of customary closing conditions. A.G.P./Alliance Global Partners is acting as the sole placement agent for the offering.

XCHG is expanding its portfolio beyond charging infrastructure and entering the energy storage market. At ees Europe in Munich, the company is presenting GridOne, a new PV-ESS system for commercial and industrial applications. With GridOne, XCharge is further expanding its portfolio of high-power charging and battery-integrated charging solutions with a dedicated energy storage system.

XCHG announced the appointment of Albina Iljasov as co-CEO of the company, effective June 1. Iljasov will serve alongside Yifei Hou, who continues in his role as co-CEO. In her new role, Iljasov will primarily oversee the company's European operations and related strategic initiatives, while also having primary responsibility for the company's ongoing efforts in information security and cybersecurity initiatives. Iljasov has served as head of Europe since September 2021, where she has been responsible for the company's business operations and growth across the European market.