X Financial announced that the Company's board of directors has approved a semi-annual dividend policy. Under this policy, the determination to declare and pay such semi-annual dividend and the amount of dividend in any particular half year will be made at the discretion of the Board and will be based upon the Company's operations and earnings, cash flow, financial condition and other relevant factors that the Board may deem appropriate. Pursuant to the semi-annual dividend policy, the Board has approved the declaration and payment of a semi-annual dividend of $0.17 per ADS (approximately $0.028 per ordinary share) for the second half of 2023.

The holders of the Company's ordinary shares shown on the Company's record at the close of trading on May 10, 2024 will be entitled to these dividends. These shareholders, including the Bank of New York Mellon, the depositary of ADS program (the "Depositary"), will receive the payments of dividends on or about May 31, 2024. Dividends to the Company's ADS holders will be paid through the Depositary on or after May 31, 2024, and the precise timing of receipt will vary based on the processing efficiency of the respective holding brokerage.