China News Agency, Beijing, June 17 (Reporter Chen Kangliang) China A shares seem to be ushering in a "repurchase tide". There are indications that a number of A-share listed companies plan to repurchase company stocks recently, and even more companies plan to implement large repurchase accounts for more than 40% of the total share capital.
According to the statistics of financial data service provider Wind, since June this year, 37 A-share listed companies have issued share repurchase plans. From the point of view of repurchase, most listed companies say they are optimistic about the development prospects of listed companies, some listed companies are to fulfill the profit compensation for major asset restructuring commitments, and some listed companies say that they are mainly used for employee stock ownership plans.
Dong Dengxin, director of the Financial and Securities Research Institute of Wuhan University of Science and Technology, said in an interview with a reporter from China News Service that share repurchases often represent the company’s management to be optimistic about the company’s future development prospects. The implementation of repurchases often improves the company’s capital structure, returns investors, and optimizes the company. The governance structure has positive significance. In particular, considering the recent overall stability of the A-share market, the prices of many stocks are more attractive to companies planning to implement repurchases.
It is worth noting that among the listed companies that announced the proposed repurchase announcement in June, food companies missed your repurchase plan and caused widespread concern. On June 8, I really want you to issue an announcement saying that you intend to use your own funds of 1.469 billion yuan (RMB, the same below) to repurchase company shares of 2.934 billion yuan. 43.83%.
In addition, I think your repo price will not exceed 13 yuan per share, which is more than 20% higher than the company's share price of 10.46 yuan per share on June 8. After the news was released, I think your stock price has risen continuously. As of the close of June 17, your stock price is 12.15 yuan per share, which is more than 10% higher than the stock price before the plan was released.
I think your huge repurchase has also attracted the attention of the exchange. The Shenzhen Stock Exchange issued a letter of concern, asking you to add to explain the calculation basis of the share repurchase price, whether the repurchase plan is feasible, whether there is cooperation with the director and supervisor, the controlling shareholder, the actual controller, and the 5% shareholding The above shareholders and their concerted parties reduced their holdings and other issues.
In response to the issues raised by the exchange, on the evening of June 15, I really want you to announce that this repurchase plan is an arrangement made by the company to protect the company's value and shareholders' rights and interests based on the company's own development. Moreover, during the planning of the repurchase, the company has always strictly controlled the scope of insider information insiders, and registered the information of insider information insiders as soon as possible, so as to effectively and timely complete information confidentiality.
Dong Dengxin said that companies that really want to implement repurchase should be affirmed; but it is also necessary for regulators to strengthen supervision of "flip-flop repurchase" that attempts to raise share prices to avoid damaging the legitimate rights and interests of small and medium investors. (Finish)