Securities Times reporter Zhang Juanjuan
Since May, A-shares have rebounded from the bottom, but the turnover rate has remained at a low level. The average daily turnover rate of the Shanghai Composite Index hit the lowest level in nearly three months.
Under the influence of the epidemic, the performance of many companies still failed to get out of the trough, and some investors called on listed companies to actively increase their holdings and buy back.
Professionals believe that under the environment of market volatility and sluggish popularity, listed companies actively take measures to repurchase shares, which can not only enhance the company's investment attractiveness, but also enhance market confidence.
According to statistics from Securities Times·Databao, as of May 26, A-share companies have completed repurchase of 3.41 billion shares during the year, with a total repurchase amount of 37.846 billion yuan, of which 679 million shares were repurchased in May, the highest level since February. The total repurchase amount was 7.864 billion yuan.
Compared with the fourth quarter of last year, the repurchase amount of listed companies has increased steadily, of which the repurchase amount in March reached 9.5 billion yuan, and the repurchase amount in April and May both exceeded 7 billion yuan.
The company plans to buy back in the second quarter
Over 450
In fact, many of the above-mentioned companies that have completed repurchase plans were released last year, or even in 2020 and 2019.
Many of the companies that issued buyback plans this year have yet to start implementing them.
According to statistics from Databao, as of May 26, a total of 713 companies had issued repurchase plans during the year. In the second quarter, more than 450 companies planned to repurchase, of which nearly 350 were in April and more than 105 in May.
From the perspective of industry distribution, a total of 30 industries have issued repurchase plans. The number of companies in the electronics, computer, and pharmaceutical and biological sectors is mostly more than 70; the coal, general, and steel industries are the least, with less than 5 companies.
From the perspective of company attributes, most of the repurchase companies are private enterprises, accounting for more than 70%.
Among the companies that have completed the repurchase (the plan has been released since this year), 4 companies have repurchased more than 1 billion yuan, namely SF Holding, Rongsheng Petrochemical, Hengli Petrochemical and Mindray Medical.
In addition, four companies including UFIDA and Midea Group have repurchased more than 500 million yuan.
After some companies released their plans, their stock prices rebounded sharply. For example, since Hengdian East Magnetics released its repurchase plan on April 8, its stock price has risen by more than 75%; since Jiangte Motor released its plan on January 21, its stock price has risen by more than 40%. %; Zhongqi’s share price has risen by more than 40% since March 31.
There are 11 companies that have repurchased more than 100 million yuan and their stock prices have risen after the release of the plan. In addition to Hengdian East Magnetics, there are Wantong Development and Maiwei Shares.
19 companies plan to buy back up to 100 million yuan
and high growth
For the 430 companies that have not yet implemented repurchase, the total repurchase amount cap is nearly 28.8 billion yuan based on the estimated repurchase quantity and price ceiling.
77 companies have the upper limit of repurchase amount of 100 million yuan, and 5 companies have the upper limit of repurchase amount of 1 billion yuan, namely Oriental Yuhong, BYD, Meihua Biology, China Nuclear Titanium Dioxide and Hubei Energy.
Oriental Yuhong is expected to repurchase 36,042,500 shares, with a maximum repurchase amount of up to 2 billion yuan; BYD's repurchase amount is up to 1.85 billion yuan.
Looking further, among the above-mentioned 430 companies, there are 19 companies with the upper limit of the repurchase amount reaching 100 million yuan, and the agency predicts that the upper limit of net profit growth in 2022 and 2023 will exceed 30%.
Among the 19 companies mentioned above, BYD, Chifeng Gold, Dongfang Group and NavInfo have the highest repurchase amount caps.
The institutions predict that the top net profit growth this year are Zhongman Petroleum, Stellar Technology, Longping Hi-Tech, etc. The three companies predict that the growth rate will exceed 300%.
Since the release of the repurchase plan, five companies including Huahai Pharmaceutical, Stellar Technology, and Shuangxing New Materials have increased by more than 20%, while Longping Hi-Tech and Watson Bio have declined slightly.