Recently, with the activity of the capital market and the rise in the stock price of listed companies, a number of listed companies have adjusted the upper limit of their repurchase shares.
On the evening of November 11, the Board of Directors held on November 11, 2024 decidedNo more than 6 yuan/share.
In the case of rising stock prices, in order to complete the share repurchase, the up -of -the -aged repurchase price is not only among the products.According to incomplete statistics from the Securities Times reporters, the repurchase price was adjusted due to factors such as equity distribution. Since October this year, at least 20 listed companies have actively increased the repurchase price due to the rise in stock prices.
Industry insiders said that listed companies initiative to adjust the repurchase price upper limit is a reflection of the market environment improvement and investment confidence.
A number of listed companies increase the repurchase price
The announcement of the product, based on the continuous stability of the companys future and stabilityIn order to ensure the smooth implementation of the current capital market market and the changes in the companys stock price, in order to ensure the smooth implementation of the companys financial situation and future profitability in order to ensure the repurchase of the stock plan.The stock plan is adjusted, and the upper limit of the repurchase shares is intended to adjust from no more than RMB 4.3/share to no more than RMB 6/share.The companys average stock price is 150%.
According to the incomplete statistics of the reporter of the Securities Times, the repurchase price is adjusted due to factors such as equity distribution. Since October, at least 20 A -share companies have released adjustments to adjust the repurchase repurchase.The announcement of the upper limit of the stock price shows the recognition of listed companies and confidence in future development.These companies include Fangda Carbon, Mountain Eagle International, Yangtze River Materials, Xinwangda, Wei Ning Health, Bohui Technology, etc.
The reporter sorted out and found that the upper limit of the repurchase price of many companies was large.For example, Gao Weida recently announced that due to the recent companys stock price affected by the market conditions, the stock price continued to exceed the upper limit of this repurchase share price. Based on the confidence of the companys continuous and stable development in the future, the companyThe repurchase matters are successfully implemented. The company plans to adjust the upper limit of the repurchase shares from no more than RMB 11.16/share to no more than RMB 18.29/share.Compared with the previous repurchase price limit, the adjustment of the adjustment price after adjustment was 63.89%.
In addition, while the listed company has raised the repurchase price, it has raised the repurchase amount.For example, the announcement of Dayu water -saving shows that due to the recent situation of the capital market and the companys stock price, the companys stock price may exceed the upper limit of the repurchase price filed by the original repurchase plan. Based on the future business development of the company, market value, etc.In order to effectively promote the smooth implementation of the companys repurchase shares, to ensure the interests of investors, and comprehensively consider the changes in the securities market to adjust the repurchase price limit, the total amount of repurchase, and the source of funds.The upper limit of the repurchase shares is adjusted from 4.5 yuan/share (inclusive) to 5.6 yuan/share (inclusive); the total amount of repurchase funds is adjusted from "not less than 20 million yuan and no more than 30 million yuan"The yuan and no more than 50 million yuan "; the source of funds is adjusted from its own funds to its own funds and self -raised funds.
The repurchase of over 150 billion yuan during the year
Since this year, A -share listed companies have been released and returned denselyThe purchase related announcement, using real gold and silver to convey confidence, many leading companies have disclosed the cancellation repurchase to the outside world.
Wind data show that as of November 11, a total of 244 listed companies have implemented repurchase, with a total repurchase amount of 153.428 billion yuan.
Among the companies that have been repurchased this year, 12 listed companies repurchased over 1 billion yuan during the year. Among them, Yao Ming Kangde has repurchased 3 billion yuan, and the amountHikvision has repurchased 2.894 billion yuan, Tongwei has repurchased 2.01 billion yuan, and Sanan Optoelectronics, Ningde Times, SF Holdings, and Baosteel have repurchased the amount of over 1.5 billion yuan.In addition, the amount of the repurchase of Kailai British, Hebang Biological, Jiuan Medical, Well shares, and Fang Da Cylin has exceeded 1 billion yuan.
It is worth mentioning that since this year, a number of listed companies have released repurchase reports to cancel and reduce registered capital.For example, on the evening of November 11, the Communications announced that the company intends to cancel the use of 2.9173 million shares repurchased in 2023 and 2024 in 2024.After the cancellation of the above -mentioned repurchase shares, the total number of shares of the company will be changed from about 265 million shares to about 262 million shares.The company applied for the cancellation of the shares on November 12, 2024.
In September before that, Guizhou Moutai announced that the company will use its own funds to not be less than 3 billion yuan (inclusive) and not more than 6 billion yuan (inclusive)The repurchase company shares, the upper limit of the repurchase price is 1795.78 yuan/share (including).It is worth mentioning that this is the first time that the Moutai Moutai has been listed in Moutai in Guizhou has proposed a cancellation repurchase for more than 20 years.
The cancellation repurchase by reducing the circulating share capital, increasing the returns per share and the return of shareholders equity, enhanced market confidence, thereby boosting the stock price in the short term.CITIC Construction Investment believes that the cancellation repurchase is the same as the dividend. After the company implements two meansIncrease the shareholders shareholding ratio in the company, thereby increasing the value of shareholders.
It helps to stabilize market expectations
Increase the repurchase price or repurchase amount, listed companies can be moreImplement the repurchase plan to enhance market confidence, optimize the capital structure, and increase the value of shareholders.
Liu Youhua, deputy director of the Wealth Research Department of the Elementary Network, told the Securities Times reporter that increasing the repurchase price is usually regarded as a manifestation of confidence in its own development prospects, helping to enhance investmentThe confidence of the company; increasing the repurchase price is often interpreted as a signal that the companys stock price may be underestimated, so to a certain extent, it will help boost market confidence, stabilize market expectations, reduce market fluctuations;To protect the companys value and shareholders rights.In general, we believe that increasing the price of repurchase is a positive market signal that can enhance investor confidence, stabilize market expectations, and may promote stock price rise.
The repurchase activity of A -share listed companies has increased significantly since 2018. From 2018, 2019, 2021, 2022, 2023, there haveIt is of great significance to improve the improvement of A -shares.According to the research of Huafu Zheng, in the context of the trade war and deleveraging in 2018, A shares continued to weaken. In the third quarter, listed companies have issued repurchase plans. At the bottom of the market, the market confidence has been greatly boosted. In the end, A shares were in 2018.At the end of the year, a strong reversal market was ushered in.This is the case in 2021, 2022, and since the end of last year, or the large -scale repurchase catalytic market continues to strengthen after the market -stage adjustment, or the large -scale repurchase of the large -scale repurchase of the market will help the stable recovery after the market continues.
Huafu Securities believes that since the end of September, various major and favorable policies in China have been introduced frequently, and the market confidence has continued to boost.At above the yuan, the scale of large shareholders repurchase has increased significantly, and it has become an important increase in the market.
Share repurchase helps to improve the capital when the market is sluggish, but the share repurchase requires the listed company to have sufficient or even excess cash flow level as the prerequisite.In order to boost market confidence and broaden the source of repurchase funds, on October 18, 2024, the Peoples Bank of China jointly issued the "Notice on the Establishment of stock repurchase and increase holdings of re -loan", and set up the first phaseThe quota of 300 billion yuan stock repurchase increases its holdings and re -loan, guides 21 national banks to provide loans to eligible listed companies and major shareholders, support their repurchase and increase their holdings of listed companies, and clearly "encourage central enterprises to play the leading role"" ".
China Merchants Securities said that stock increase holdings and repurchase re -loan provides low -cost funds for enterprises, creating favorable conditions for the market value management of listed central enterprises.On the one hand, financial institutions need to realize "self -risk" with loans, and high risk control capabilities; on the other hand, some banks require the main business of loan target customers when they are implemented.And good development potential.Therefore, from the perspective of loans to commercial banks, it is more likely to choose listed companies with good fundamentals and good credit qualifications.Most of the listed state -owned enterprises are in the industry leader, with relatively stable operations and high credit rating. It is more likely to become potential development customers with stocks to increase their holdings and repurchase reinforcements.
Source: Securities Times Officer
Statement: All information content of the data treasure does not constitute investment suggestions, the stock market has risks, and investment needs to be cautious.
Responsible editor: He Yu
School Division: Yang Shuxin
