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XChange TEC.INC Acquires Hong Kong Insurance Brokerage
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XChange TEC.INC Acquires Hong Kong Insurance Brokerage
Apr 4, 2025 7:12 AM

09:38 AM EDT, 04/04/2025 (MT Newswires) -- XChange TEC.INC ( XHG ) said Friday it has acquired an unnamed Hong Kong-based insurance brokerage licensed by the Hong Kong Insurance Authority.

The company said the acquisition provides it with direct access to Hong Kong's insurance market as it eyes launching insurance services in China and other international markets.

Financial terms of the deal were not disclosed.

Shares of XChange climbed more than 24% in early trading Friday.

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