After the Spring Festival holiday, the Beijing Stock Exchange market saw another repurchase announcement. On February 21, Tianye announced that it planned to repurchase the company's shares with 5 million yuan and 10 million yuan, and the repurchase price did not exceed 4 yuan shares; In addition, Xinweiling, Xinzhi Biotechnology and Qilu Huaxin have also successively disclosed the results of share repurchases.
Statistics show that since the beginning of this year, more than 20 companies on the Beijing Stock Exchange have issued buyback-related announcements, most of which are used to implement equity incentives or employee stock ownership plans, but some companies have repurchased shares for cancellation, such as Anda Technology, China Textile Standard, Wantong Hydraulics, Haomiao Technology, etc. Zhu Weiyi, a veteran of the Beijing Stock Exchange market and general manager of Guangdong Power Private Equity Management, believesMature capital markets attach great importance to repurchase tools, and repurchases are basically used for cancellation, and the familiar Berkshire Hathaway, Apple, etc. are long-term repurchases for cancellation. The Beijing Stock Exchange welcomed a number of repurchase announcementsTianye shares announced on the evening of February 21 that the company intends to repurchase the company's shares with its own funds, the total amount of funds to be repurchased is not less than 5 million yuan, not more than 10 million yuan, and the repurchase of ** is not more than 4 yuan shares, and the number of shares is expected to be repurchased in the range of 1.25 million shares and 2.5 million shares, accounting for 0 of the company's current total share capital38%~0.76%。The company said that the repurchase method is a bidding repurchase, which is based on the judgment of the company's value and confidence in the future development, in order to stabilize the company's stock price, and comprehensively consider the company's operating conditions, financial status and other factors. The repurchased shares are intended to be used for the implementation of equity incentives or employee stock ownership plans.
At the same time, Tianye Co., Ltd. released a performance express report this evening, saying that the company will achieve an operating income of 4600 million yuan, a year-on-year decrease of 229%；Net profit attributable to owners of the parent company was 3045930,000 yuan, a year-on-year decrease of 4307%。The company is mainly engaged in the research and development, production and sales of tropical fruit and vegetable raw materials, including raw fruit juice, quick-frozen fruits and vegetables, fresh fruits, etc. The company's raw fruit juice products include concentrated fruit juice, NFC, blended juice and other forms and specifications, mastering more than 40 kinds of fruit and vegetable processing technology such as mango, passionfruit, lychee, etc., the company focuses on the processing of tropical fruits and vegetables, and has four modern factories in Beihai, Guangxi, Ding'an, Hainan, Panzhihua, Sichuan, and Jingmen, Hubei, with production capacity covering the main production areas of tropical fruits and vegetables in China. Xinweiling announced the results of the share repurchase on the evening of February 20, starting from August 14, 2023 to February 13, 2024, and the company will repurchase the company's shares through a continuous bidding transfer through a special ** account for repurchasing shares1010,000 shares, accounting for 016% with a high price of 782 yuan shares, the lowest transaction price is 711 yuan shares, the total amount paid is 74270,000 yuan. All the repurchased shares are deposited in the company's special repurchase account for the implementation of equity incentives. Also disclosing the results of the share repurchase after the Spring Festival holiday are Xinzhi Biotech and Qilu Huaxin. Qilu Huaxin said that as of February 17, the company has repurchased a total of 305010,000 shares of the company, accounting for 2 of the company's total share capital2%, accounting for 85 percent of the shares expected to be repurchased4%, the most repurchased is 7 yuan, and the lowest price is 39 yuan, the cumulative repurchase amount is 1508370,000 yuan, accounting for 60 percent of the estimated repurchase amount33%。Xinzhi Biotech said that as of February 8, the company had repurchased a total of 263750,000 shares of the company, accounting for 2 of the company's total share capital88%, accounting for 69 percent of the shares expected to be repurchased41%, and the most ** repurchase is 134 yuan, the lowest price is 793 yuan, and the cumulative repurchase amount is 2820840,000 yuan, accounting for 55 percent of the estimated repurchase amount4%。Both companies announced that the share repurchase plan has been implemented. Zhou Yunnan, a senior commentator and founder of Beijing Nanshan Investment, believesRecently, many Beijing Stock Exchange companies have issued repurchase announcements, mainly in three situations, one is the situation of triggering passive repurchase, the second is the continuation of historical repurchase, and the third is active repurchase. The core reason for the repurchase of shares is that the company does not recognize the current downturn in the company's stock price, and hopes to promote the recovery of the stock price through the repurchase, stimulate the recovery of the market, and realize the return of corporate value. A number of companies repurchase shares for cancellationIn fact, the Beijing Stock Exchange will start a buyback wave in the second half of 2023, and some of them have already carried out two or more rounds of repurchase operations, including Optek, Airong Software, Teresi, Qingju Technology, Jinhao Medical, Baijia Technology, Anda Technology, etc. Open Source ** thinks,The buyback of companies on the Beijing Stock Exchange conveys low valuation information, among which companies with low valuation, supported performance and high repurchase strength demonstrate management confidence and are worthy of attention.
Zhu Weiyi also thinks,Buying back at a time when the company's stock price is undervalued is the wisest decision for management, which is equivalent to making a very good deal with the company's funds, in simple terms: what was originally worth 10 yuan, now you can buy it for 5 yuan, and the difference in the price earned will increase the wealth of shareholders. For minority shareholders of listed companies, share price buybacks are a major positive: on the one hand, it shows that the company's cash flow is sufficient, and on the other hand, it also indicates that the company's stock price is seriously undervalued. Judging from the companies that issued buyback-related announcements this year, there are many companies that have repurchased shares for cancellation, including China Textile Standard, Anda Technology, Wantong Hydraulics, Haomiao Technology, etc. Anda Technology announced on February 6 that Liu Jianbo, chairman of the company, proposed to cancel the company's early repurchase of shares and reduce the corresponding registered capital, which aims to enhance shareholder value, increase net assets per share and equity per share corresponding to income equity, enhance investors' confidence in the company's investment, and safeguard the interests of investors. Anda Technology has completed two share repurchases, the first of which repurchased 5 million shares, accounting for 082%, the second repurchase of 3.66 million shares, accounting for 060%。The company said that it will carefully study the content of the above proposal as soon as possible, formulate a reasonable and feasible cancellation plan, perform the approval procedures in accordance with relevant regulations, and fulfill the information disclosure obligation in a timely manner. China Textile Standard issued the "Announcement on the Completion of the Cancellation of Repurchase Shares and the Change of Shares" on January 24, saying that it had completed 350,000 shares of the repurchase and cancellation procedure, these shares represent 00379%。After the cancellation of the repurchased shares, the total number of shares of the company increased from 9243710,000 shares decreased to 9240210,000 shares. The company has completed the relevant procedures in Beijing Branch of China ** Registration and Clearing Co., Ltd. After this repurchase and cancellation, the company's restricted shares increased from 7939460,000 shares became 7935960,000 shares, unrestricted shares remained unchanged at 1,304250,000 shares. Zhu Weiyi emphasizedFor the use of buyback**, many domestic listed companies like to use it for equity incentives, if the incentive is not appropriate, it will leave a bad impression on public shareholders that the company's funds are subsidized to executives. It is recommended that domestic listed companies learn from Apple and other companies and use the buyback** for cancellation, which can reduce share capital and increase earnings per share, which is conducive to increasing shareholder value. The reason why Apple's long-term bullish behavior is inseparable from the company's insistence on the buyback** cancellation strategy. For listed companies with low shareholding ratios of controlling shareholders, share repurchase for cancellation is the best way to increase the proportion of controlling shares.
Editor-in-charge: Liang Qiuyan
Proofreading: Gao Yuan
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