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since the beginning of this year, dividends and buybacks by listed companies have been vigorously implemented, with accelerated implementation and increased frequency, demonstrating the sincerity of returning investors with "real money".

according to statistics, in the first three quarters, a total of 1,966 a-share companies implemented repurchases, with a total repurchase of 140.6 billion yuan. the number of repurchases and the amount of repurchases increased by 85% and 151% respectively year-on-year; 911 important shareholders of a-share companies have repurchased in the second quarter. the holdings in the secondary market increased, with the amount exceeding 61.2 billion yuan, significantly higher than the number and amount in the same period last year.

the level of cash dividends of listed companies has also increased significantly. as of october 1, the total cumulative dividends (declared) of 258 companies in 2024 are expected to exceed 100 million yuan.

repurchase amount increased significantly year-on-year

in the first three quarters of this year, a total of 1,966 a-share companies implemented repurchases, with a total repurchase of 140.6 billion yuan; in the same period last year, 1,061 companies implemented repurchases, with a total repurchase of 56 billion yuan.

looking at individual stocks, in the first three quarters of this year, wuxi apptec, hikvision, and sanan optoelectronics ranked top in repurchase amounts.

top ten stocks ranked by buyback amount in the first three quarters

image source: wind

the amount of increased holdings exceeded 61.2 billion yuan

the number and amount of holdings increased by important shareholders of listed companies also increased significantly year-on-year. data show that in the first three quarters of this year, 911 important shareholders of a-share listed companies increased their holdings in the secondary market, and the amount of increased holdings exceeded 61.2 billion yuan, which was significantly higher than the number and amount in the same period last year.

secondary market of important a-share shareholders in the first three quarters

when trading positions, increase or decrease positions, refer to the top ten stocks by market capitalization.

image source: wind

on september 24, the state council information office held a press conference. pan gongsheng, governor of the people's bank of china, stated that a special re-loan for stock repurchases and holdings would be established, with an initial quota of 300 billion yuan, and the scale could be expanded in the future depending on the utilization situation. in this regard, a citic securities research report stated that shareholders' increase in holdings and company repurchases will receive further financial support. the activity of increase in holdings and repurchases may further increase, and attention should be paid to the investment opportunities brought by incremental funds.

huafu securities believes that the central bank's policy aims to encourage listed companies and major shareholders to repurchase and increase their stock holdings by providing low-cost financial support, thereby stabilizing stock prices and enhancing market confidence. the short-term effects of this policy may be reflected in boosting market sentiment and stabilizing stock prices. by repurchasing and canceling shares, listed companies can reduce the number of outstanding shares and increase earnings per share, thereby increasing the intrinsic value of the stock. at the same time, for major shareholders, repurchasing and increasing their shareholdings can also help stabilize their shareholding ratio and avoid pledge risks caused by falling stock prices. in addition, special refinancing also reflects the support for market value management of high-quality listed companies. the structural differentiation of stock prices based on fundamentals may become more obvious, which is conducive to the market's establishment of long-term value investment concepts.

the total annual cumulative dividends of 258 companies are expected to exceed 100 million yuan

as the capital market attaches greater importance to shareholder returns of listed companies and the introduction of cash dividend policies, more and more listed companies are increasing returns to shareholders through cash dividends and other methods.

as of now, the total annual cumulative dividends (declared) of 258 companies are expected to exceed 100 million yuan.

looking at individual stocks, industrial and commercial bank of china, china mobile, china construction bank and other companies have distributed dividends exceeding 10 billion yuan.

total annual cumulative dividends of a-share companies in the first three quarters (announced)

the top ten stocks

image source: wind

wanlian securities believes that since 2024, a-share listed companies have increased their efforts to pay dividends. all a-share listed companies have implemented or announced interim profit distributions (including quarterly reports and semi-annual reports), and the amount of dividends has increased significantly year-on-year. the amount of dividends in many industries has increased by more than 100%. listed companies attach great importance to investor returns and send positive signals to investors, which helps stabilize market expectations.

market participants believe that as the market's understanding of dividend assets further deepens, listed companies will pay more attention to shareholder returns in the future and increase the return on investment in the capital market. increasing the frequency and scale of dividends can greatly increase the attractiveness of listed companies to long-term funds, thus attracting more funds to enter the market.