I thought that there would still be inertia today, so I didn't want to open the computer to see**, but it started to rain in Hangzhou again, and it was cold and wet, so I still turned on the computer and took a look.
As a result, I really didn't expect that in my self-selected stocks, Jiu'an Medical actually rose to the limit! This is really unexpected, this kind of new crown concept stock has been overdrawn by the previous hot concept, so now when no one tests it, it is basically a lying flat stock, how can it suddenly rise to the limit?
When things go wrong, there must be demons.
I immediately checked the information, and it turned out that Tianjin Pharmaceutical Company, which made a profit of 16 billion yuan in 2022 because of the export of test agents during the epidemic, actually launched a repurchase plan to take out 6 to 1.2 billion yuan of funds to repurchase when the stock price is lower than 45 yuan shares. You must know that the company's net profit forecast for the whole year of 2023 is 1.1 to 1.3 billion yuan, which is to buy back all the net profit of the year? The determination itself is not small. After all, before 2022, the company's annual net profit was 90.9 billion yuan, of which less than 12.69 million yuan in 2018!
But if it's a repurchase, it's been a lot in the last two months, and I haven't seen anyone who has risen the limit. After a closer look, I found that the repurchase of Jiu'an Medical was finally cancelled according to what I said! This time it's the real good!
In this repurchase announcement of Jiu'an Medical, the repurchase has two purposes, one is to maintain the company's value and shareholders' rights, and the other is the cancellation that I have been advocating, that is, to reduce the registered capital. The total amount of repurchase funds used to maintain the company's value and shareholders' equity shall not be higher than 36.5 billion yuan, and the total amount of funds used to reduce the registered capital and cancel the share repurchase shall not be less than 2$3.5 billion. The specific number of shares to be repurchased is subject to the actual number of shares repurchased at the expiration of the repurchase period.
That is to say, if calculated according to the upper limit, the ** repurchased with 1.2 billion yuan this time is only 3 at most6.5 billion yuan is used to put the company's account in the future, and the remaining 8The 3.5 billion yuan of funds repurchased will all be used for cancellation! Assuming that the repurchase cost is about $40 per share, this means that the company can write off more than 20 million shares at most, at the company's current 4The total share capital of 8.8 billion yuan is calculated, and after the repurchase and completion of the cancellation, the company's total share capital will likely drop to 46.8 billion yuan. Based on its earnings of 1.2 billion yuan, earnings per share will reach 2$56, and its P/E ratio will be 14 from now9 down to 1388 times, while net assets per share will be up from 39 now94 yuan, up to 4165 yuan!
The company said that the reason why so many funds were put back and written off, one of the most important reasons is that the company's stock price has been lower than its net asset value, from yesterday's **, the company's ** price is 3326 yuan, which is equivalent to 8 yuan of the company's assets3% off. According to the upper limit of this repurchase plan, although the company's net assets per share will rise, because the stock price has risen today, and the company will continue to repurchase below 45 yuan, the company's stock price is expected to rise above the net asset value. In fact, if the company continues to have a limit tomorrow, its share price will rise back to 402 yuan, which is already more than the current net asset value.
If there is one more limit, the stock price is back at 4422 yuan, it can still exceed the net asset value after cancellation even by the highest amount.
I wrote before, "So ** should be a fierce medicine!" The article is to call on the China Securities Regulatory Commission to introduce a policy as soon as possible to support and encourage listed companies to repurchase the first policy at a time when there is a serious lack of market confidence. Now, judging from Jiu'an Medical's announcement and today's trend, such measures are indeed much better than simple buybacks, and they are worth vigorously promoting. In particular, pharmaceutical companies, especially those testing companies that have made large profits in the epidemic, should use their money to the best of their ability and return shareholders with real money. After all, this method is more direct and effective than dividends - directly increase the power of buying in the secondary market, and stabilize the stock price in order to stabilize investors' ideas of wanting to participate in dividends.
It's a pity that I glanced at the repurchase announcement tonight, and only saw that Guojin ** and Yunzhongma respectively said that they would take out 0500 million to 100 million and 0400 million to 0600 million yuan of funds for repurchase, and the purpose of the repurchase is to reduce the company's registered capital. The baby-friendly room takes out a total of 02.5 billion to 0500 million yuan of funds for repurchase, the purpose of the repurchase is three, so that the amount of registered capital is very small.
Of course, the scale of funds disclosed today is still considerable, according to professional reports, since the beginning of this year, as of February 5, the amount of net funds in the market ** ETF class is as high as 78413.1 billion yuan. This is not counting the funds for the implementation of the buyback announced by the listed company. Of course, this news should also be divided into two, with so much net inflow, it still hit a new low of 2635 points on February 5, indicating that the selling pressure on the market is indeed very large.
In addition, the China Securities Regulatory Commission also suspended the increase in the number of new refinancing bonds, which means that in the short term, there will be no new securities borrowing and lending, and the selling pressure has been controlled to a certain extent. However, it remains to be seen how effective such a move will be. Relatively speaking, this policy is still relatively fair, that is, from now on, there will be no new additions, that is, new people and new policies, it is better than suddenly introducing a policy, not to make a new and old division to engage in one-size-fits-all, the panic of the market is getting bigger and bigger!
So when so many policies come out, is it the bottom? Personally, I think it's too early to draw this conclusion, unless from now on, more than half of the 10 companies that repurchase companies, more than half of the companies declare that the purpose of the repurchase is registered capital, otherwise, we should still respond with a ** mentality.