Wind statistics show that as of May 24, a total of 703 A-share listed companies have disclosed repurchase plans this year, an increase of 23.3% compared with 570 in the same period last year.
Many listed companies actively implemented repurchase after the release of the plan, and the repurchase scale was considerable.
Among the 703 listed companies mentioned above, 299 have implemented repurchase, with a total amount of 19.175 billion yuan.
According to industry insiders, in the case of market fluctuations, listed companies adopt an active share repurchase strategy, which can not only enhance their own value, but also enhance investment attractiveness and market confidence.
Intensive repurchase plan
According to Wind statistics, a total of 175 listed companies disclosed repurchase plans in March, and 373 companies proposed repurchase plans in April. Since May, 107 companies have disclosed repurchase plans, and the number of repurchase cases is increasing month by month.
From the perspective of the purpose of repurchase, it is mainly used for employee stock ownership plan, implementation of equity incentives and market value management.
A number of listed companies said that the repurchase is to safeguard the company's value and shareholders' rights.
Many listed companies repurchase on a large scale.
On March 3, SF Holding issued an announcement to implement an employee incentive plan for repurchasing shares through centralized bidding.
After the announcement of the plan, SF Holding immediately began to implement share repurchase.
As of April 30, the company has repurchased a total of 28.6426 million shares of the company, with a repurchase fund of about 1.506 billion yuan (excluding transaction costs), accounting for 0.59% of the company's current total share capital, with an average transaction price of 52.59 yuan per share.
Rongsheng Petrochemical has implemented a large scale of repurchase.
The company issued a share repurchase plan on March 16, stating that it plans to use its own funds to repurchase some shares in a centralized bidding transaction, which will be used to convert corporate bonds issued by listed companies that can be converted into shares. The repurchase amount is not less than 10%. RMB 100 million (inclusive) shall not exceed RMB 2 billion (inclusive).
As of May 12, Rongsheng Petrochemical had repurchased 69.7151 million shares of the company, accounting for 0.69% of the company's total share capital. The highest transaction price was 15.47 yuan per share, the lowest transaction price was 13.1 yuan per share, and the total transaction amount was 1.006 billion Yuan (excluding transaction costs), which has reached the lower limit of 1 billion yuan for the total amount of funds to be repurchased by the company.
It is worth noting that the repurchase period of many listed companies has been significantly shortened, which was generally 12 months before.
Taking Fuliwang as an example, the company announced on the evening of May 5 that it plans to repurchase 25 million to 50 million company shares. The repurchase period is within 3 months from the date when the board of directors reviewed and approved the repurchase plan.
In view of the recent large drop in the company's stock price, the company plans to use its own funds to repurchase shares through centralized bidding transactions.
According to industry insiders, the active repurchase of listed companies not only strongly proves that the value of listed companies is undervalued, but also expresses their confidence in the macro economy and financial market.
SOEs perform positively
It is worth mentioning that among the repurchase companies, there are many large listed state-owned enterprises.
Weichai Power announced on the evening of May 19 that it plans to use its own funds to repurchase some of the company's A-share public shares in a centralized bidding transaction for the later implementation of the equity incentive plan. The number of A-shares repurchased is expected to be no less than the company 0.5% of the total share capital and not more than 1% of the total share capital, that is, not less than about 43,632,800 shares (inclusive) and not more than 87,265,600 shares (inclusive). Calculated according to the repurchase limit, the total amount of repurchase funds is expected to not exceed 1.533 billion Yuan.
Sinotruk announced on the evening of May 19 that it plans to repurchase the company's shares with a price of not more than 196 million yuan (inclusive) in the next 12 months for the implementation of the equity incentive plan, and the repurchase price will not exceed 16.74 yuan per share (inclusive). ).
CICC believes that the repurchase price of Sinotruk this time does not exceed 16.74 yuan per share, which is nearly 40% higher than the company's current share price, demonstrating the management's confidence in the company's future sustainable development and recognition of the company's value.
Previously, the SASAC held a special promotion meeting on deepening the reform of state-controlled listed companies and striving to be a model for state-owned enterprise reform in three years. Weng Jieming, member of the Party Committee and deputy director of the State-owned Assets Supervision and Administration Commission of the State Council, once said, "State-owned listed companies should set an example to promote the healthy and stable development of the capital market. .The SASACs of all regions shall, in accordance with the principle of facilitating enterprises, give active guidance and support to the share repurchase and cash dividends of state-controlled listed companies. The group company should be an active and responsible shareholder, encourage long-term holding of listed company shares, and increase the undervalued holdings in a timely manner. listed companies. Listed companies should implement share repurchase in a timely manner to enhance investor confidence, and the required funds can be raised through the issuance of preferred shares, bonds and other channels in accordance with the law.” (Yang Jie)