Optimistic about the inner value of 385 companies to release the repurchase plan

Xinhua News Agency, Beijing, July 9th. "China Securities Journal" published an article on the 9th "Optimistic in the Inner Value of 385 Companies to release the repurchase plan". According to the article, Wind data shows that as of 17:00 on July 8th, a total of 385 listed companies in A shares have released the repurchase plan since this year, of which 84 repurchase amounts exceeded 100 million yuan. From the purpose of repurchase, the proportion of equity incentives or employee holdings accounts for more than 70 %. Some listed companies set the repurchase period to 3 months, and the repurchase is more enthusiastic. Through actively repurchase, listed companies enhance investor confidence and convey signals to the market to be optimistic about the internal value of the company.

Data map, Xinhua News Agency sent

Industry head company actively shot

Of the 385 listed companies mentioned above, 74 have implemented the repurchase plan, 68 are in the plans of the board of directors, 15 are at the stage of the shareholders' meeting, and the remaining 228 are in the implementation stage. From the perspective of the industry, the number of listed companies in materials, technical hardware and equipment, and medical and medicine.

Since this year, many industry head companies have released large repurchase plans. For example, Vanke A, a header of the real estate industry, BYD, the head of the new energy vehicle industry, the head of the home appliance industry, Haier Zhijia and Midea Group, Oriental Yuhong in the waterproof building materials industry, and Mai Rui Medical in the medical industry.

Since this year, 84 listed companies have repurchased more than 100 million yuan, and the amount of 19 listed companies has repurchased more than 500 million yuan. The repurchase amount exceeded 1 billion yuan, respectively. Among the listed companies with a repurchase amount of more than 1 billion yuan, three listed companies have completed the repurchase plan.

It is worth noting that since this year, the repurchase period of some listed companies has set a shorter repurchase period. The listed company represented by Vanke A set the repurchase period to 3 months. In 6 months, the willingness to repurchase in the short term is strong. Earlier, the repurchase period was set to 12 months.

After some companies issued a large repurchase plan, the stock price rose significantly. In order to successfully complete the repurchase, the price limit of the repurchase plan had to be increased. BYD issued a plan on the 2022 repurchase company's shares on April 22. It is planned to repurchase the amount of not more than 1.85 billion yuan (inclusive), not less than 1.8 billion yuan (inclusive), and the repurchase price does not exceed 300 yuan/share. The purchase period is not more than 12 months from the date of the company's shareholders' meeting to review and approve the repurchase plan. Since then, the stock price has risen all the way, and BYD has to adjust the upper limit of the repurchase price to no more than 400 yuan/share. Shortly after the adjustment plan was released, the company announced the completion of the repurchase plan.

The two major uses of repurchase shares

There are 271 listed companies that will be repurchased to implement equity incentives or employee holding plans. There are 32 market value management, and 82 other purposes. The number of listed companies used to repurchase shares for equity incentives and employee holding plans accounted for 70.39%.

Listed companies generally stated in the announcement that repurchase shares will be used to implement equity incentives or employee holding plans, but if the shares of the repurchase are used within 36 months after the share repurchase is completed Part of the part will be canceled.

Chen Xin, a professor of accounting at Shanghai High School of Finance, Shanghai Jiaotong University, told reporters from the China Securities Journal that listed companies will use repurchase shares for equity incentives and employee holdings to avoid new shares. For ordinary shareholders, the issue of equity is avoided. After the repurchase shares, listed companies usually grant executives or employees with a "discount price" and set up the unlocking period and unlocking conditions linked to performance. The impact of this operation on ordinary shareholders is positive.

For the purpose of enhancing investor confidence, some companies cancel the repurchase shares and reduce registered capital, which is more common among large market value companies. On January 13, Mai Rui Medical issued a plan for repurchase companies. The repurchase shares will cancel and reduce the registered capital in accordance with the law, with a total repurchase funds of 1 billion yuan. On March 7, the company issued an announcement for the cancellation of repurchase shares. As of the closing of July 8th, the market value of Mai Rui medical treatment was 383.9 billion yuan.

Boost investor confidence

Chen Li, chief economist of Chuancai Securities and director of the Institute of Research, said that the number of A -share listed companies that have chosen to repurchase and increase holdings since this year has increased compared with last year. Biomedicine, electronics, chemical industry and other industries have good profits and cash flow. In the first half of the year, the stock price fell largely. At the same time, the company's short -term expansion plan was not expanding. confidence.

Dong Dengxin, director of the Institute of Finance and Securities of Wuhan University of Science and Technology, told reporters from China Securities Journal that cancellation and repurchase shares can improve the net assets and net profit per share on the financial statements, which is conducive to supporting the stock price. (Finish)

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