Major Shareholder XJ Harbour HK Reduces Stake by $10.4M

summarizeSummary

A major 10% shareholder, XJ Harbour HK, has sold approximately $10.4 million worth of Class A Ordinary Shares in open market transactions since February, reducing their stake to 22.6%.

check_boxKey Events

• Significant Share Disposition

  XJ Harbour HK Limited and its affiliates sold an aggregate of 1,530,928 Class A Ordinary Shares in open market transactions between February 13, 2026, and April 22, 2026.

• Total Proceeds from Sales

  The sales generated approximately $10.4 million in proceeds for the reporting persons.

• Reduced Beneficial Ownership

  Following these transactions, the reporting persons now beneficially own 11,420,271 Class A Ordinary Shares, representing 22.6% of the outstanding class.

auto_awesomeAnalysis

This amendment to Schedule 13D reveals that XJ Harbour HK Limited and its affiliated entities, a significant 10% owner, have sold approximately $10.4 million worth of Class A Ordinary Shares in open market transactions since February 2026. While the group still retains a substantial 22.6% stake, this series of dispositions could signal a shift in their investment strategy or a need for liquidity, potentially creating an overhang on the stock. Investors should monitor future filings for continued selling activity.