Securities Times reporter Wu Shaolong
Since the beginning of this year, 46 listed companies in Shenzhen have announced plans to repurchase. During this period, more than 180 listed companies have repurchased their own stocks, with a total repurchase amount exceeding 10 billion yuan. Another 24 listed companies’ controlling shareholders, actual controllers, directors, supervisors and senior executives disclosed plans to increase their holdings, and the proposed increase is about 1.5 billion yuan.
Shenzhen-listed companies and important shareholders are actively repurchasing and increasing their own stocks, which echoes the CSRC’s proposal to “give full play to the role of the market’s endogenous stability mechanism” and “make every effort to maintain the market” when it held an enlarged meeting to convey and study the spirit of the special meeting of the State Council’s Finance Committee. Smooth operation.” From the perspective of listed companies, the act of repurchasing shares can boost market sentiment on the one hand, and show confidence in the company’s long-term development on the other hand.
Act as an endogenous stabilizing mechanism
Shenzhen enterprises repurchase more than 10 billion yuan during the year
On March 16, when the China Securities Regulatory Commission held an enlarged meeting to convey the spirit of the special meeting of the Financial Committee of the State Council, it said that it would give full play to the role of the market’s endogenous stability mechanism, vigorously promote the quality of listed companies, and encourage listed companies to increase their holdings and repurchase; March 17 On March 1, when the China Securities Regulatory Commission communicated and implemented the spirit of the National Two Sessions, it proposed to adhere to the principle of stability, further improve the endogenous stability mechanism of the capital market, advance the resolution of key and sensitive issues involving capital market expectations, ecology, and environment, and make every effort to maintain the stable operation of the market. .
As an important participant in the capital market, Shenzhen-listed companies “support” their own stock prices when the market fluctuates. Market analysis pointed out that the active repurchase of listed companies and the increase of important shareholders’ holdings echoes the important measures proposed by the current regulatory authorities to “play the role of the market’s endogenous stability mechanism”.
On March 21, TCL Technology issued an announcement on the repurchase report on the repurchase of some public shares in 2022. The announcement proposed to use its own funds, self-raised funds and other financing methods to repurchase the company’s shares through centralized bidding transactions. The total amount of shares purchased shall not be less than RMB 450 million (inclusive) and shall not exceed RMB 550 million (inclusive), and the repurchase price shall not exceed RMB 8.00 per share. The repurchased shares will be used for employee stock ownership plans or equity incentives. If the company fails to use the shares for the above-mentioned purposes within 36 months after the completion of the share repurchase, the unused part will be cancelled by performing relevant procedures.
There are still many Shenzhen-based enterprises that are “strengthening in the same direction” with TCL Technology.
According to statistics, since March 9, about 25 listed companies in Shenzhen have issued repurchase plans or reports, with the proposed repurchase amount capped at 11.5 billion yuan. Skyworth Digital and other high-quality companies, among which Midea Group intends to repurchase the amount of not less than 2.5 billion yuan and not more than 5 billion yuan. In addition, many listed companies announced the completion of stock repurchase for the first time.
After sorting out the repurchase progress disclosed by the company, in 2022, the five listed companies in Shenzhen have repurchased more than 500 million yuan this year, namely SF Holding, Mindray Medical, BOE, Changchun High-tech, and Glodon, of which SF Holding has repurchased. The amount has exceeded 1 billion yuan. 24 listed companies have repurchased more than 100 million yuan.
Confidence in the development of listed companies
Confidence in China’s economic development
On March 14, Jianfan Biology issued an announcement on the completion of the implementation of the actual controller’s plan to increase the company’s shareholding. Combing the announcement, there are two bright spots in this holdings increase, one is the “top grid” holdings, and the other is the rapid increase in holdings.
According to the announcement issued in November last year, Dong Fan, the actual controller of Jianfan Bio, plans to increase his holdings of the company’s shares within six months through centralized bidding, block transactions or other methods permitted by laws and regulations, and the total amount of shares to be increased shall not be less than 1 RMB 100 million but not more than RMB 200 million (both inclusive).
After only 2/3 of the planned time, the actual controller of Jianfan Biology completed the “top grid” increase.
“Before the actual controller of the company increased its holdings, the listed company has also carried out a repurchase.” Talking about the reasons for the repurchase increase, Huang Cong, the representative of Jianfan Biological Securities, said in an interview with a Securities Times reporter, “Recently, A shares There have been adjustments, but the company’s fundamentals have not changed. Listed companies and actual controllers are very confident in the company’s future performance. The company’s repurchase and the increase in the actual controller’s holdings also convey the value of our investment in the company to the market. Approved.”
“The epidemic has been repeated recently, and the impact on the company’s production and operation is still controllable.” Huang Cong said, “The impact of the current epidemic is mainly concentrated on logistics and raw material costs. The company has also overcome many difficulties. In this process We have also accumulated a lot of experience in dealing with difficulties, which will help promote the high-quality development of the company.”
The relevant person in charge of polyfluoroduo told reporters that the company’s current production and operation conditions are normal. Due to the continuous strong market demand, the company’s related products are in short supply. Currently, it is producing at full capacity according to the needs of downstream customers. It is expected to maintain full production and sales this year. trend. According to the announcement, the company’s controlling shareholder and persons acting in concert intend to increase their holdings of the company’s shares by not less than 50 million yuan and not more than 100 million yuan.
“Full of confidence in development” is an important starting point for many Shenzhen-listed companies to increase their holdings or buy back.
Sorting out the repurchase announcements of listed companies, most of the listed companies in Shenzhen believe that stock repurchase is based on confidence in the company’s future development and recognition of the company’s long-term value. In addition, there has been a recent correction in A-shares, and the company’s stock price is lower than its intrinsic value. It is hoped that the company’s value is undervalued to the market through share repurchase.
Some market analysts pointed out that the current listed company is in the annual report disclosure window period. When the company completes the annual report disclosure, it will no longer be restricted by the window period. It is expected that more listed companies may participate in the repurchase and increase of shares in the future.
Listed companies’ confidence in future development comes from their confidence in China’s economic development.
When TCL Technology mentioned the purpose and use of the repurchase in the announcement, the company stated that the company is based on the development of the technology manufacturing industry, aiming to be a global leader, in accordance with the principle of “improving quality and efficiency in operations, forging long plates to make up for short plates, innovation-driven development, and accelerating development.” The work requirements of “Global Layout” will promote the two core industries of semiconductor display, semiconductor photovoltaics and semiconductor materials to become a global leader.
In an interview with reporters, the relevant person in charge of DFD said that under the background of the “two-carbon” goal, development concepts such as science and technology, greenness, stability and sustainability have become the main theme, and my country’s new energy and new material industries have ushered in unprecedented opportunities for development. At present, China’s economy is undergoing transformation and upgrading in the process of recovery, gradually shifting to high-quality development, the economic structure is more optimized, the added value of high-tech manufacturing above designated size has grown significantly, upgraded consumption and investment in high-tech industries have grown rapidly, and the demand structure has continued to improve. As the backbone of national economic development, listed companies should actively take the lead in fulfilling social responsibilities, maintain social stability, practice scientific, green and sustainable development, and repay investors with better performance.
Market analysis pointed out that the repurchase and increase of holdings of listed companies are also full of confidence in the long-term development of China’s economy, and believe that China’s economic growth will still become the most dynamic region in the world economy.Return to Sohu, see more
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