On February 22, the three major A-share stock indexes collectively closed up, and the Shanghai Composite Index appeared "seven consecutive yang". After the Spring Festival, the A-share "repurchase tide" continued to be staged, and a number of listed companies successively issued ** repurchase plans. What are the reasons for the "repurchase wave" of listed companies? What positive changes and impacts will it bring to the market?
According to the statistics of the latest announcement time, since 2024, a total of 1,294 listed companies in the A** market have issued repurchase announcements, and the repurchase progress is 862 listed companies that have been completed or implemented, and the total amount of repurchases has reached 758$8.1 billion. Among them, the number of companies in the pharmaceutical and biological industries ranks first, and the number of companies in the electronics, mechanical equipment, computer, basic chemicals, and power equipment industries ranks first, with more than 80.
Zhao Xijun, Co-Dean of the China Capital Market Research Institute of Chinese University: Judging from the characteristics of buybacks this year, the stock prices of many repurchased listed companies have retreated significantly. Relatively speaking, the cost of repurchase is relatively low, and the company's operating conditions are also good, and shareholders are willing to pay for repurchase when they have confidence in the company**.
From the perspective of the purpose of repurchase, in addition to the implementation of equity incentives or employee stock ownership plans, there are not a few repurchases for market value management and equity incentive cancellation. In addition, there are 9 companies with a repurchase amount of more than 1 billion yuan, and Gree Electric Appliances, Rongsheng Petrochemical, and SAIC Group have the highest repurchase amounts, all exceeding 2.5 billion yuan.
As of the latest**, the stock prices of these companies that have bought back heavily have generally been deeply adjusted, and compared with the 2023 high, the average share price of companies with a repurchase amount of more than 100 million yuan has retraced by 4361%, 20 companies have a drawdown of more than 60%.
Yang Delong, Chief Economist of Qianhai Open Source: The "repurchase tide" of listed companies has undoubtedly played a great role in promoting the launch and rise of the company. At present, the stock prices of many listed companies are only % of the high, and some are even lower. Therefore, the motivation for the repurchase of real gold of listed companies is relatively strong, which is also an important way to effectively improve investor confidence.
*: CCTV Finance).
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