**: China ** News - China Securities Network.
Since 2024, A-shares have set off a small "climax" of buybacks.
Taking ** as an example, since the beginning of 2024, 97 companies have disclosed repurchase plans or proposals, with a proposed repurchase amount of 7 billion yuan to 132 million$1.2 billion; 626 sub-companies disclosed the announcement of the progress of the repurchase, and the amount of the implementation of the repurchase reached 1431.7 billion yuan. Since this week (January 29) alone, **300 companies have disclosed the progress of buybacks, including 159 GEM companies and 141 main board companies.
It is worth noting that this centralized repurchase presents some new characteristics, on the one hand, the listed company frequently increases the repurchase amount and the second repurchase plan; On the other hand, multiple large-scale buybacks are in full swing.
In addition, GEM companies also showed high enthusiasm for buybacks. Among the 87 companies that disclosed repurchase plans or repurchase proposals this week, 58 companies on the Growth Enterprise Market (GEM) accounted for nearly seventy percent.
Secondary repurchases are frequent.
According to the data, since August 2023, a total of 355 sub-listed companies have disclosed repurchase plans, with a proposed repurchase amount of 330$5.4 billion to $6133.8 billion yuan, and the actual repurchase amount reached 5195.4 billion yuan.
Since 2024, on the basis of the completion of the repurchase plan in the early stage, companies such as NXT, Xinwangda, and Changchun High-tech have once again thrown out the repurchase plan, demonstrating the confidence of listed companies in themselves, related industries and capital markets.
On September 28, 2023, the company launched a repurchase plan, planning to use its own funds to repurchase part of the company's shares, with a total repurchase fund of not less than 300 million yuan and no more than 500 million yuan. By December 25, 2023, the implementation of the repurchase has been completed, and the company's actual repurchase amount has reached 400 million yuan. On February 2 this year, the company once again launched a repurchase plan, indicating that based on the confidence in the company's future development prospects and the high recognition of the company's value, it intends to repurchase 100 million to 200 million yuan of the company's shares again.
In addition to the second repurchase plan, the company has also frequently increased the repurchase amount. For example, Chenguang Biotechnology disclosed on February 1 that it would increase the repurchase amount of the pre-repurchase plan from "100 million yuan to 200 million yuan" to "200 million yuan to 300 million yuan". The board of directors of Keshun Co., Ltd. held a meeting on February 2 to deliberate and agree to adjust the repurchase amount of the original plan from "50 million yuan to 100 million yuan" to "100 million yuan to 200 million yuan".
A few days ago, the Shenzhen Stock Exchange officially launched the special action of "Double Improvement of Quality and Return". It is reported that this special action aims to promote the quality of listed companies from four aspects: enhancing the awareness of focusing on the main business, improving the ability of innovation and development, improving the quality of information disclosure and strengthening the level of standardized operation, implementing the concept of investor-oriented, and striving to guide listed companies to strengthen the awareness of investor returns. Judging from the current repurchase situation, the special action of "double improvement of quality and return" has achieved considerable results.
Quick buyback. In December 2023, the Shenzhen Stock Exchange issued the "Self-Regulatory Guidelines for Listed Companies No. 9 - Repurchase of Shares (Revised in 2023)", which has optimized the repurchase conditions in many aspects, not only relaxing the restrictions on the sensitive period of repurchase, deleting the original limit on the number and proportion of shares repurchased every five trading days, but also increasing the daily repurchase period, and the new repurchase regulations have further stimulated the repurchase enthusiasm of ** companies.
Taking Lianhetech as an example, the company's board of directors deliberated and approved the repurchase proposal on January 26, and within a week after the plan was disclosed, the company repurchased for the first time on January 30 and completed the repurchase on January 31, and implemented a total of 7981 repurchases within two days530,000 yuan, the speed of repurchase is amazing.
The company's board of directors deliberated and approved the share repurchase proposal on January 22, with a proposed repurchase amount of 30 million yuan to 60 million yuan, and then from January 29 to 31 in just a few days, the company repurchased a total of 499510,000 yuan, quickly complete the repurchase.
According to wind statistics, among the buyback plans disclosed since August 2023, 11 companies quickly completed buybacks within a month.
Pan Helin, co-director and researcher of the Digital Economy and Financial Innovation Research Center of Zhejiang University International Business School, said that at present, the regulatory authorities are actively guiding listed companies to strengthen their returns to investors, truly practicing the concept of "investor-oriented", and more listed companies may participate in buybacks in the future.
Large-scale buybacks are in progress
Judging from the early repurchase plan, a number of ** companies quickly started to repurchase after disclosing the repurchase plan, and a number of repurchase "big orders" are in full swing.
On February 2, Rongsheng Petrochemical announced that after the company released the third phase of the repurchase plan in August 2023, it continued to carry out repurchases, and further increased the upper limit of the repurchase amount in November of that year, adjusting the total amount of funds to be used for repurchase from "1 billion yuan to 2 billion yuan" to "1.5 billion yuan to 3 billion yuan". As of January 31, the total amount of the company's third phase of repurchase was 298.9 billion yuan, and the cumulative total transaction amount of the first three phases of repurchase was 697.7 billion yuan.
Goertek disclosed the repurchase plan on October 26, 2023, with a proposed repurchase amount of 500 million yuan to 700 million yuan. As of January 31, 2024, the company has used its own funds to repurchase a total of 59.7 billion yuan of company shares.
On December 15, 2023, the board of directors of Hengyi Petrochemical deliberated and approved the company to use its own funds to repurchase the company's shares for the implementation of employee stock ownership plans or equity incentives, with a total repurchase fund of 500 million yuan to 1 billion yuan. In the following more than 1 month, the company repurchased a total of 4300 million yuan of company shares.
GEM companies are actively repurchased.
Since the beginning of this year, GEM companies have actively joined the "army" of buybacks. Among the 87 companies that disclosed repurchase plans or repurchase proposals this week, 58 companies on the Growth Enterprise Market (GEM) accounted for nearly seventy percent.
On February 2, Ruifeng New Materials disclosed the repurchase plan and planned to repurchase 1500 million yuan to 300 million yuan of shares, for the subsequent implementation of equity incentives or employee stock ownership plans. The company believes that the repurchase of shares reflects the management's confidence in the company's long-term intrinsic value, which is conducive to safeguarding the interests of all shareholders, especially small and medium-sized shareholders, and enhancing the confidence of public investors.
As for the reasons why the current listed companies are actively initiating repurchases, Pan and Lin believe that the current capital market is in the first stage, and many of the first valuations are low. Listed companies show their confidence in the future development through repurchases with "real gold", fully releasing a positive signal that the economy and industry continue to improve.
Central and state-owned enterprises practice market value management through buybacks.
On January 24, at the press conference of the State Council Information Office, the State-owned Assets Supervision and Administration Commission said that it would further study the inclusion of market value management in the performance appraisal of the person in charge of the enterprise.
On January 25, Dong'e Ejiao, a subsidiary of China Resources Group, a state-owned enterprise, disclosed that the company had completed the repurchase of 151 from January 10 to 25240,000 shares, and the amount of repurchase funds reached 7,587240,000 yuan, the company disclosed that this part of the repurchased shares will be used to implement the equity incentive plan.
In addition to central enterprises, local state-owned listed companies have also actively carried out buybacks. On February 2, Shandong Road and Bridge, a state-owned enterprise under Shandong State-owned Assets, disclosed that since the disclosure of the repurchase plan on December 28, 2023, the company has implemented a total repurchase amount of 1,67120,000 yuan. Taihe New Materials, which is also a state-owned enterprise in Shandong, disclosed a repurchase plan of 50 million yuan to 100 million yuan on December 11, 2023.