Following the wave of buybacks of central and state-owned enterprises in October, another round of increased holdings and buybacks of listed companies came. On the evening of December 10, exceeded40Listed companies intensively sell out their holdings or repurchase plans. Among them, large-scale repurchases are not uncommonMore than 10 listed companies plan to repurchase more than 100 million yuan. So, how is this buyback different from the previous one?Why do listed companies intensively release repurchase plans at the current point in time?What important signal does this send?Let's listen to Xiao Miao's decomposition below.
More than 40 companies have issued repurchase plans, and the number of repurchase cancellations has increased
On the evening of December 10, more than 40 listed companies, including EVE Lithium Energy, Tianci Materials, Proya, Shenzhen Energy, Zhengmei Machinery and Taijing Technology, issued repurchase or increase plans. Among them, listed companies such as Zheng Coal Machinery, Proya, and Taijing Technology plan to repurchase an amount of not less than 100 million yuan, and Shenzhen Energy will release no less than 1500 million yuan to increase holdings. 
Listed company buyback announcement, **wind
Repurchase is an important means for listed companies to boost confidence, through the repurchase of their own **, while optimizing the equity structure, it has a positive significance for stabilizing the stock price. The previous larger round of buybacks took place inOctober 2023At that time, a number of central enterprises issued announcements to repurchase and increase their holdings. In mid-October, a number of companies such as Baosteel, COSCO Shipping Holdings, Sinopec, and China Mobile disclosed their holdings or buybacks**. In late October, CATL, Gree Electric and other big white horses issued repurchase or increase plans. Unlike the previous repurchase announcements issued by central enterprises, state-owned enterprises, and big white horses, most of the buyback announcements issued this time are small and medium-sized listed companies. The average market value of the above 40 listed companies that have issued repurchase and increase plans is about 10 billion yuan, with the largest about 85 billion yuan and the smallest about 1.9 billion yuanAmong them, companies with a market value of less than 10 billion yuan account for the vast majority. Since 2023, with the continuous adjustment of the market and the optimization of the buyback system, listed companies have actively repurchased. According to wind data statistics, as of December 10,Since 2023, more than 1,300 companies have issued buyback plans, with a buyback scale of 8478.9 billion yuan,This is the same as the 1021 in 2022$3.3 billion declined slightly. 
Data**: wind, Xiao Miao collated.
Some students may have questions, what is the use of the ** from the repurchase of listed companies?In fact, most of them will be transferred to outstanding employees as part of the incentive plan as part of the incentive plan as treasury shares or an additional employee stock ownership plan platformThe other part of the company will buy back the ** write-off. So, which way is better for shareholders?Of course, it is a write-off from the repurchase, and this part of the ** will never become a tradable share. As an incentive plan, when the incentive object meets the conditions to sell this part in the future, the sell-off will naturally put pressure on the stock price. So,Students should pay more attention to those listed companies that repurchase their own ** and cancel them. So, which listed companies choose to repurchase and cancel this time?According to Xiao Miao's statistics, Midea Group, BOE, Credit Testing Standard, Gan Consulting, Proya, Wufang Optoelectronics, etc. chose to repurchase and cancel relevant shares. Some analysts saidThe increase in the number of companies that have repurchased shares for cancellation is one of the important signals of the market bottom. 
** The Politburo has set a positive toneThe bottom of the market continues to consolidate.
*Originated from the Internet).
Why do listed companies choose to intensively issue buyback and increase announcements at the current point in time?On the one hand, it is because the company's valuation is low. In terms of the overall market, the Shanghai Composite Index has fallen below 3,000 points, with a price-to-earnings ratio of only about 12 times, and the valuation is very attractive. On the other hand, 3,000 points is interpreted by many market participants as the policy bottom. At around 3,000 points, the high-level not only intensively released various policies to protect the disk, but also put real gold into the market. On December 11, the three major indexes collectively opened low, and the Shanghai Composite Index once exceeded 13%, the lowest to 2930At 42 o'clock, and at about 1:30 p.m., a "mysterious force" suddenly struck, and the three major indices then turned red and continued to **. The just-concluded Politburo meeting is still positive for the tone of economic policy, and the policy will be promoted and stabilized, moving with the times, and it is expected that the specific measures mentioned in the economic work conference will continue to be strengthened, and the risk mitigation process in key areas will also be accelerated. In other words, the bottom of the valuation and the bottom of the policy are an important reason for listed companies to issue buybacks at present. The wave of buybacks of listed companies is conducive to transmitting positive sentiment to the market, and by releasing positive signals to the secondary market, it will play a certain role in stabilizing the stock price and preventing the company's stock price from deviating from the actual value of the company too low. At present, A-shares are constantly consolidating at the bottom of 3,000 points, brewing energy for the upcoming New Year's Eve. Brokerages are actively bullish. Huafu believes that in recent years, the China Securities Regulatory Commission has encouraged and supported listed companies to carry out share repurchases in many ways, and the overall scale of A** repurchases has grown steadily. By reviewing the overall development process of repurchase in China and combining with the overall market, it can be seen that the timing of repurchase-related policy adjustments is mostly seen in the period of market bottom. Therefore, the resurgence of the current "repurchase wave" or the re-consolidation of the market bottom. CITIC** believes that the bottom of the market is constantly consolidating. On the one hand, the Politburo meeting on the tone of economic policy is still positive, the policy will be promoted to stabilize, with the times, it is expected that the specific measures mentioned in the economic work conference will continue to strengthen, the process of risk resolution in key areas will also be accelerated, the role of scientific and technological innovation in the industrial system and the first chain is an important point of view, to support the economy to establish first and then break. On the other hand, the current economy is still in a state of weak recovery, macro data is still within the normal fluctuation range, under the continuous strengthening of the policy, the economic situation will be stable and improving, and the external rating downgrade event is expected to have no actual impact on the market. Guotai Junan said that although the first is still in the adjustment stage in the near future, the bottom structure of the weight index has been gradually improved, considering that the current domestic policy care is obvious, the external environment is relatively friendly, the RMB relative to the US dollar has formed a medium-term appreciation trend, and the bottom of the medium-line is fully formed before the considerable adjustment, which is a better opportunity to participate in the "Yangchun**". 
"Flickering repurchase": hit when you show up
*Originated from the Internet).
Some students may ask, what should I do if the listed company has issued a repurchase plan, but it has not been repurchased as scheduled and fooled investorsThe capital market is an honest market, and the management's attitude towards the "flickering repurchase" is: hit it when it shows up. The China Securities Regulatory Commission has clearly required that no one shall use share repurchase to engage in insider trading, market manipulation and other illegal acts, and shall not damage the legitimate rights and interests of the company and investors through "benefit transfer" and "flickering repurchase". For example, due to the promise of repurchase but not implementation, Hezong Technology received the "Decision on Administrative Supervision Measures" from the Beijing Securities Regulatory Bureau on November 17, taking administrative supervision measures against the company to order corrections, and recording the relevant violations in the integrity file. The Shenzhen Stock Exchange also issued a letter of concern to Hezong Technology on this matter. Since then, Hezong Technology has issued an announcement that it intends to extend the implementation period of the company's shares for 8 months. The hard measures of "long teeth and thorns" in financial supervision will help promote the "promises" of all business entities. As the regulator continues to strengthen the responsibilities of listed companies and other related entities, there is an obvious "pain" for those who violate laws and regulations, which is of great significance for maintaining the stability of the secondary market and protecting the legitimate rights and interests of small and medium-sized investors. The above analysis is for reference only and is not intended as an investment basis