a-shares set off a repurchase and increase in holdings boom, and the number of "protective" repurchases increased sharply
2024-09-15
한어Русский языкEnglishFrançaisIndonesianSanskrit日本語DeutschPortuguêsΕλληνικάespañolItalianoSuomalainenLatina
on the evening of september 10, wuxi apptec launched its third round of "cancellation-style" repurchase plan this year. in order to maintain the company's value and shareholders' rights and interests and enhance investor confidence, the company plans to use its own funds of 1 billion yuan to repurchase a-shares for cancellation and reduction of registered capital.since the beginning of this year, with the support and encouragement of policies, listed companies have shown a strong enthusiasm for repurchases, with the number and amount of repurchase plans doubling compared with the same period last year. major shareholders, actual controllers, directors, supervisors and senior executives of companies have actively increased their holdings, and the planned amount of increased holdings has also increased significantly compared with the same period last year. based on the upper limit of the repurchase and increase plan amount, the repurchase and increase plans released in the first eight months can bring 193.8 billion yuan of "live water" to a-shares.against the backdrop of a sluggish market, share repurchases by listed companies and increased holdings by major shareholders send the signal to the market that stock prices are undervalued. this not only helps optimize a company's capital structure, enhances investor returns, and boosts market confidence, but also brings incremental funds to a-shares. it is an important means to boost stock prices and help enhance the market's inherent stability.buybacks by listed companies surgefive major structural highlightsshare repurchase is an important tool for listed companies to maintain corporate value, return investors and optimize equity structure. in december last year, the china securities regulatory commission revised and issued the "rules for share repurchase by listed companies" to enhance the inclusiveness and convenience of the repurchase system and further facilitate listed companies to implement share repurchases.data shows that in the first eight months of this year, a total of 1,127 listed companies in shanghai and shenzhen disclosed 1,204 new repurchase plans, an increase of 814 and 882 respectively over the same period last year; the planned repurchase amount ranged from 78.9 billion yuan to 146.2 billion yuan, with the upper and lower limits increasing by 40.9 billion yuan and 75.8 billion yuan respectively over the same period last year; a total of 1,463 listed companies actually implemented repurchases, with the total amount exceeding 100 billion yuan.in addition to the substantial increase in the number and amount of repurchases, the repurchases of listed companies have also shown five major structural highlights since the beginning of this year:large-scale repurchases frequently appear to support the market and boost stock prices. among the 1,204 repurchase plans mentioned above, 14 are large orders of 1 billion yuan, which have a significant impact on boosting investor confidence. for example, since tigermed disclosed a 1 billion yuan repurchase plan on february 7, as of september 11, the stock price has risen by 21.91%; since sungrow disclosed a repurchase of 1 billion yuan for employee stock ownership or equity incentives on july 14, the stock price has risen by 28.38% as of september 11.continuous repurchases to continuously reward investors. during the year, 72 companies including hebang bio, dawson pharmaceuticals, and wuxi apptec disclosed repurchase plans for more than two phases, achieving continuous repurchases. in addition, 38 companies have disclosed repurchase plans for three consecutive years, building a normalized repurchase mechanism.large-cap companies take the lead, and state-owned enterprises join the buyback army. large-cap listed companies and listed state-owned enterprises play the role of "ballast" and "stabilizer" in the market. the performance of these companies is usually also a weather vane for industry trends and prospects. the buyback shows these companies' confidence in their own stable operations and long-term development, and also shows their optimism about the development trend of the industry. in the first eight months of this year, among the listed companies in shanghai and shenzhen that disclosed their buyback plans, there were 15 companies with a market value of 100 billion yuan and 204 companies with a market value of 10 billion yuan."cancellation-style" repurchases have become normalized. "cancellation-style" repurchases are seen as a means of return that goes hand in hand with cash dividends. the new "nine national regulations" propose to guide listed companies to repurchase shares and then cancel them according to law. in the first eight months of this year, the shanghai and shenzhen stock markets disclosed 170 new "cancellation-style" repurchase plans, an increase of 136 orders over the same period last year. the planned repurchase amount ranged from 18.9 billion yuan to 32.4 billion yuan, and the upper and lower limits increased by 12.1 billion yuan and 20.3 billion yuan respectively over the same period last year. five companies had a repurchase and cancellation ceiling of more than 1 billion yuan, with the highest being yili shares, with a repurchase and cancellation ceiling of 2 billion yuan. in addition, several companies that had previously disclosed repurchase plans have proactively adjusted the purpose of the repurchase, changing it to capital reduction and cancellation, to return investors more directly and immediately.the number of "protective" repurchases has increased. "protective" repurchases are repurchases for the purpose of market value management. they send a clear signal that the stock price of listed companies is undervalued and are the most direct "care" for stock prices. in the first eight months, the shanghai and shenzhen stock markets disclosed a total of 274 "protective" repurchase plans, an increase of 267 orders over the same period last year. the planned repurchase amount ranged from 16.7 billion yuan to 31.7 billion yuan, and the upper and lower limits increased by 15.7 billion yuan and 29.6 billion yuan respectively over the same period last year.major shareholders increase their holdings to convey confidenceinjecting “stabilizer” into the marketin addition, the increase in holdings by major shareholders, actual controllers, directors, supervisors and senior managers conveys their confidence in the company's long-term development and optimism about the company's future prospects, injecting a "stabilizer" into the market.according to statistics, in the first eight months of this year, a total of 595 companies in the shanghai and shenzhen stock markets newly disclosed plans for major shareholders, actual controllers, directors, supervisors and senior managers to increase their holdings, an increase of 447 companies year-on-year; the upper limit of the increase in holdings totaled 47.6 billion yuan, an increase of 34.4 billion yuan over the same period last year. among them, 9 companies’ upper limits for increase in holdings exceeded 1 billion yuan, and 17 companies’ upper limits for increase in holdings exceeded 500 million yuan, sending a positive signal to the market that they are firmly optimistic about the future development prospects of the companies.in addition, there is generally a lock-up period after important shareholders increase their holdings. on the one hand, this has a very positive significance for stock price stability. on the other hand, it also helps to deeply bind the interests of important shareholders and small and medium-sized shareholders, enhance the sense of responsibility of major shareholders, actual controllers, directors, supervisors and senior managers and other important shareholders, increase their enthusiasm, and have a positive impact on the long-term development of the company.image | zcool
production | zhou wenrui
