GigaCloud Technology (GCT) announced that its Board has authorized a new share repurchase program to repurchase up to $111 million of its class A ordinary shares over the next three years. The program goes into effect on August 17, 2025 while the previous program is terminated. The company may effect repurchase transactions in compliance with Rule 10b5-1 and Rule 10b-18 of the Securities Exchange Act of 1934, as amended.
"The program is supported by our strong balance sheet, including zero debt and consistent positive operating cashflows, said Erica Wei, Chief Financial Officer.
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June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.