"Real gold and silver" are being used to boost market confidence, and A-share listed companies are continuously and intensively disclosing their share repurchase and increase plans and related progress. Wind data shows that as of the time of the journalist's manuscript, nearly 2000 repurchase plans have been implemented this year, involving more than 1400 companies, among which more than 340 companies have completed repurchase amounts exceeding 100 million yuan. At the same time, to support the stable development of the capital market with practical actions, while waiting for the business details to be released, many banks are also actively preparing for the stock repurchase and increase loan business by储备意向客户 and steadily advancing various preparations. The repurchase and increase tide in the fourth quarter continues.
In the first week after the National Day holiday, according to statistics from Hongchou Investment, a total of 443 repurchase-related announcements were issued in the A-share market, involving 432 companies. Looking at the proportion of share repurchase, there are 16 companies with a repurchase proportion of more than 5% of the total share capital; there are 50 companies with a repurchase proportion of more than 3% of the total share capital; there are 251 companies with a repurchase proportion of more than 1% of the total share capital. In terms of the industries covered, the top five industries with the most announcements are capital goods, materials Ⅱ, technology hardware and equipment, pharmaceutical biotechnology and life sciences, and semiconductors and semiconductor production equipment. Looking at the purpose of the repurchase, the number of repurchase announcements for the purpose of implementing equity incentives or employee shareholding plans is the highest, accounting for 58.47%; the number of repurchase announcements for market value management is the second, accounting for 22.57%; the total number of active repurchase announcements is 359, accounting for 81%.
In terms of scale, the leading repurchase amount is Guangdian Measurement, which announced a planned repurchase fund total of 200 million to 400 million yuan, with a repurchase price cap of 18 yuan, accounting for 1.91% to 3.81% of the company's total share capital. The shares repurchased this time will all be used to convert the convertible bonds that the company plans to issue in the future. China Eastern Airlines previously announced that based on confidence in the company's future development prospects and recognition of the company's long-term value, combined with factors such as the company's operating conditions and financial status, in order to enhance market confidence, improve fundraising efficiency, increase earnings per share, and reflect the importance of returning to investors, the company plans to use its own funds to repurchase some of the company's social public shares through centralized bidding transactions, for the purpose of reducing the company's registered capital. The A-share repurchase amount is 250 million to 500 million yuan, with a repurchase price cap of 4.39 yuan per share.
In addition, the number of listed companies that have disclosed their repurchase plans for the first time is also gradually increasing, with many plans exceeding tens of millions of yuan. For example, Jiuli Special Materials, Haohai Bioscience, Del Future, GAC Group, etc., plan to repurchase no more than 300 million yuan, 200 million yuan, 120 million yuan, and 109 million yuan, respectively.
In terms of increases, many listed companies have also successively disclosed important shareholder increase plans. For example, on October 16, Sailis announced that its backbone team implemented an increase plan starting from August 29 this year, planning to increase the amount by no less than 100 million yuan and no more than 200 million yuan. As of October 15, the team had increased 1.66 million shares through centralized bidding transactions, accounting for 0.11% of the company's total share capital, with a total increase amount of 150 million yuan.
Zhou Maohua, a macro researcher at the financial market department of China Everbright Bank, said that the repurchase and increase of shares by listed company shareholders helps to optimize the company's capital structure, improve the financing ability and financial indicators of listed companies, and enhance investor confidence.
The demonstration effect of leading enterprises is significant.
In the continuous repurchase and increase of listed companies, the positive actions of leading enterprises have also played a good leading role while being recognized by the market.
China Merchants Group recently disclosed that its eight listed companies, including China Merchants Shekou, China Merchants Port, China Merchants Shipping, China Merchants Highway, China External Transportation, Liaoning Port Shares, China Merchants Nanyou, and China Merchants Jiyu, have disclosed repurchase or increase plan announcements, with a total amount cap of nearly 5 billion yuan.
Specifically, China Merchants Shekou, China Merchants Port, China Merchants Shipping, China Merchants Highway, China External Transportation, and China Merchants Jiyu have issued share repurchase plans. The repurchase share price cap is not higher than 150% of the average transaction price of the company's shares in the 30 trading days before the board of directors passed the resolution on the repurchase of shares, and the repurchased shares are intended to be cancelled in the future and reduce the company's registered capital.Among them, China Merchants Shekou's total repurchase amount ranges from 351 million yuan to 702 million yuan, China Merchants Port's total repurchase amount ranges from 195 million yuan to 389 million yuan, China Merchants Shipping's total repurchase amount ranges from 222 million yuan to 443 million yuan, China Merchants Highway's total repurchase amount ranges from 310 million yuan to 618 million yuan, Sinotrans's total repurchase amount ranges from 271 million yuan to 542 million yuan, and China Merchants Property's total repurchase amount ranges from 78 million yuan to 156 million yuan. In addition, three other listed companies under China Merchants Group—Sinotrans, Liaoning Port Co., Ltd., and China Merchants South Oil—have simultaneously announced major shareholder shareholding increase plans. Among them, Sinotrans's increase amount is 250 million yuan to 500 million yuan, with a maximum purchase price of 7.43 yuan per share; Liaoning Port Co., Ltd.'s increase amount is 250 million yuan to 500 million yuan, with a maximum purchase price of 2.06 yuan per share; China Merchants South Oil's increase ratio is not less than 1% of the total share capital and not more than 1.72%, with a maximum purchase price of 4.67 yuan per share. Industry insiders believe that the repurchase or increase plan of the eight listed companies of China Merchants Group this time demonstrates the company's confidence in its own value and is conducive to helping achieve high-quality development.
Not only the China Merchants Group, but also many central state-owned enterprises or local state-owned enterprises, including China Energy Construction, Sinopec, Baosteel Shares, Poly Development, and Kweichow Moutai, have also conveyed the company's firm confidence in its own development prospects to market investors through active shareholding increases and repurchases this year.
On October 16, China State Construction announced that, based on confidence in the company's future development prospects and recognition of its medium and long-term investment value, the controlling shareholder, China State Construction Group, plans to increase the company's A-share shares through centralized bidding transactions within 12 months. The total amount of the increase is not less than 600 million yuan and not more than 1.2 billion yuan. This increase does not set a price range. China Energy Construction also recently announced that the company's controlling shareholder plans to increase the company's shares within 6 months from the date of disclosure of the announcement, with a total amount of not less than 300 million yuan and not more than 500 million yuan.
The implementation of the special re-lending business is imminent.
At the same time as disclosing the repurchase and increase situation, China Merchants Group also revealed that the eight listed companies under its jurisdiction will also actively connect with financial institutions, fully follow up and utilize relevant financial policies. Just before the National Day, the People's Bank of China announced that it will create a special re-lending for stock repurchase and increase, guiding commercial banks to provide loans to listed companies and major shareholders for the repurchase and increase of listed company stocks, with the first phase amounting to 300 billion yuan.
Many securities institutions believe that the new tool of special re-lending for stock repurchase and increase is expected to provide long-term funds for the stock market and improve the inherent stability of the capital market. Listed companies can obtain loans from commercial banks at a lower interest rate, which helps to reduce their financing costs, optimize capital structure, and improve financial efficiency. Especially for companies with high dividend rates, the policy will help major shareholders to increase shares at a lower cost, increase the dividend rate, and attract investors pursuing stable returns. Tian Xuan, Dean of the National Institute of Financial Research at Tsinghua University, said that the creation of a special re-lending mechanism for stock repurchase and increase is an innovative business of banks supporting the development of the capital market, which can promote stock increases and repurchases, enhance the liquidity of the capital market, and help the development of listed companies.
The reporter learned that to help listed companies with stock repurchase and increase, many banks have actively carried out related businesses. "Although the regulatory level's detailed rules have not yet been introduced, we have started to sort out relevant resources and carry out special re-lending market promotion work at the first time, and there are already many companies and shareholders who have expressed their intention to apply." The person in charge of a regional branch of a joint-stock commercial bank introduced.
In addition, Industrial Bank has internally issued a notice on the promotion of related business marketing work, and each branch has actively marketed and sorted out listed companies and major shareholders within its jurisdiction; Bohai Bank has divided this policy into two types of business: special re-lending for stock repurchase and special re-lending for stock increase, and determined target customers based on factors such as national strategic development requirements, company market value performance, and company industry status, etc.
Actively responding to the policy spirit of the regulatory authorities, Jiaxing Bank also introduced that it started the marketing and promotion of related loan products at the beginning of October, and internally issued the "Notice on Fully Promoting the Marketing of Stock Repurchase and Increase Loan Business". It clearly defines the definition, term, pricing, and target customers of the special re-lending business for stock repurchase and increase. In terms of target customer screening, it requires that target customers should "comply with the national industrial strategy orientation and the bank's industry credit policy requirements, have a prominent main business, operate steadily, have good credit quality, and have long-term sustainable operating ability and repayment ability, and have obvious competitive advantages and good development potential in the industry or a certain region. Give priority to entering stocks with stable market value, active secondary market trading, and good liquidity, including stocks included in the CSI 300, CSI 500, CSI 1000, and other indices; cautiously enter stocks of listed companies and shareholders whose share pledge ratio is too high and is restricted by the new reduction rules."
post your comment