news

한어Русский языкEnglishFrançaisIndonesianSanskrit日本語DeutschPortuguêsΕλληνικάespañolItalianoSuomalainenLatina

the central bank's stock repurchase, holdings and re-lending policy has ushered in the first "early adopter". bairen medical (688198.sh) announced on the evening of october 7 that jin lei, the company's controlling shareholder and actual controller, plans to usespecial loan fundsthe company increased its shareholding, and 300 billion re-loaned and repurchased the additional funds into the market to sound the "first shot."

the actual controller of bairen medical intends to increase its holdings through loans

according to the announcement, jin lei plans to increase its holdings of the company's shares through methods permitted by the shanghai stock exchange trading system (including but not limited to centralized bidding and block transactions) within 6 months from october 8, 2024. there is no upper or lower price limit for this increase in holdings. the number of shares planned to be increased starts from 100,000 shares, and the upper limit is 1.5503% of the company's total share capital. based on this calculation, the number of shares planned to be increased this time will not exceed 2.13 million shares.

this is the first company to respond to the central bank's stock buyback, holdings and re-lending policy.

on september 24, the state council information office held a press conference. pan gongsheng, governor of the people's bank of china, stated at the meeting that he would create stock repurchases and increase holdings and re-loans to guide commercial banks to provide loans to listed companies and major shareholders for repurchases and increases. hold stocks of listed companies. the first tranche of the re-loan is 300 billion yuan. the people's bank of china will issue re-loans to commercial banks, with a financial support ratio of 100%. the re-loan capital interest rate provided by the people's bank of china is 1.75%. pan gongsheng also said that if this work is done well, more can be added in the future.

according to market news on september 27, some banks have issued the "notice on carrying out marketing promotion of special loan business for stock repurchase and overweighting", requiring domestic branches to prepare to launch marketing promotion work. later, there was news that the head office of the country's leading joint-stock bank issued notices to increase stock holdings and repurchase loans to all branches in its jurisdiction.

some market participants told reporters from the financial associated press that the increase in loan holdings of the actual controller of bairen medical indicated that the central bank's 300 billion re-loan increase and repurchase fund set up to protect capital market innovation has officially begun to enter the market.

as far as bairen medical is concerned, the company is currently in a growth stage and has invested heavily in research and development. in the first half of this year, the company's research and development expenses were approximately 77.07 million yuan, a year-on-year increase of nearly 100%. in order to protect the company's stock price, it may be a good choice for the actual controller to use the central bank's stock buyback to increase its holdings and then lend money to increase the company's shares.

dare to borrow money to increase holdings, or the actual controller is optimistic about the company's development prospects. according to the company's plan, the company's current r&d pipeline layout is rich, and ball-expanded tavr and ball-expanded interventional valve-in-valve are about to be launched. it is expected that a number of blockbuster products will be launched from the end of 2024 to 2025, making a greater contribution to the company's performance.

the medical device sector has undergone a deep adjustment

why was the first company in the central bank's stock buyback, holdings, and re-lending policy to settle in the medical device sector? the above-mentioned market participants said that this may be related to the industry's continuous adjustment in the capital market in recent years and its fundamentals becoming more stable. "in this case, some industrial capital and actual controllers believe that the company's value is undervalued."

although the medical device sector as a whole rose by more than 30% more than a week before the holiday, as of september 30, many industry sector etfs such as the medical device etf (159883) and the pharmaceutical etf (512010) were still declining for four consecutive years. the cumulative decline generally exceeds 50%.

and the fundamentals of the industry are far less bad. according to iqvia data, other medical equipment markets will decline by 24% year-on-year in q1 of 2024, with imaging equipment being the most affected, with a decline of 27%. however, some market participants analyze that the subsidized loan policy in 2023 will release market demand for medical equipment ahead of schedule. however, with the gradual implementation of the trade-in policy, it is expected to promote market growth in the second half of the year.

the performance of consumables is much better, such as the vascular interventional device market, which increased by more than 10% year-on-year in the first half of 2024; and the surgical field market, which increased by 4.6% year-on-year in the first half of 2024, among which the ultrasonic scalpel and suture markets are growing particularly rapidly.

in addition, in the first half of 2024, fiscal health and health expenditures will be 1.058 billion yuan, and the full-year fiscal health and health expenditure budget is approximately 2.2836 billion yuan. in the second half of the year, fiscal health and health expenditures are expected to grow at a year-on-year growth rate of 18.34%.