Home » Gree Electric intends to write off approximately 10.5 billion shares worth of stock

Gree Electric intends to write off approximately 10.5 billion shares worth of stock

by admin

Original title: Gree Electric intends to write off approximately 10.5 billion shares worth of stock

Every reporter: Guo Rong Village Every intern reporter: Chen Hao Every editor: Liang Xiao

On the evening of September 28, Gree Electric (000651, SZ) issued an announcement stating that the company intends to cancel the third phase of the repurchase of 70% of the purchased shares to reduce the registered capital, and the remaining repurchased shares will still be used for the implementation of employee shareholding plan. On September 9 this year, the third phase of the company’s share repurchase was completed, and the total transaction amount was about 15 billion yuan. Calculated on the basis of the repurchase price, the value of Gree Electric’s proposed cancellation of shares is about 10.5 billion yuan.

The “Daily Business News” reporter noted that since April 2020, Gree Electric has completed three share repurchases, with a total cost of about 27 billion yuan. In addition to the planned cancellation of all stocks worth about 6 billion yuan repurchased in the second phase, Gree Electric has planned to cancel about 16.5 billion stocks.

When the stock price is down, the company often repurchases the stock and writes it off to stabilize the stock price. When the share repurchase was initiated for the first time in April 2020, Gree Electric’s share price once ushered in a wave of rise, but since 2021 (September 28), the company’s share price has continued to fall, with a cumulative decline of 35%. In the first half of this year, Gree Electric achieved revenue of 91.052 billion yuan, a year-on-year increase of 31.01%, and net profit attributable to shareholders of listed companies was 9.457 billion yuan, a year-on-year increase of 48.64%. A number of brokerage research reports believe that Gree Electric’s current valuation is relatively low and is optimistic about the company’s share price trend in the future.

Proposed cancellation of stocks worth about 10.5 billion yuan

On the evening of September 28, Gree Electric issued an announcement stating that in view of the fact that the company has not used the third-phase repurchase shares in the short-term specific plan for employee stock ownership plans or equity incentives, according to the actual situation of the company, the company intends to repay the third phase. The purchase of 70% of the purchased shares (ie 221 million shares) will be cancelled to reduce the registered capital, and the remaining 30% of the purchased shares will still be used to implement the employee stock ownership plan.

See also  The People's Bank of China launched a 995 billion yuan medium-term lending facility (MLF) operation, and the winning bid rates were the same as the previous time_Information Zaobao.com

On May 26 this year, Gree Electric disclosed that it will carry out the third phase of share repurchase, and the repurchased shares will be used for the company’s employee stock ownership plan or equity incentives. As of September 9, the company said that the third phase of the repurchase had been implemented, and a total of 316 million shares of the company were purchased through centralized bidding through the special securities account for repurchase, and the total transaction amount was about 15 billion yuan. Calculated on the basis of the repurchase price, the value of Gree Electric’s proposed cancellation of shares is about 10.5 billion yuan.

Gree Electric also stated that this change in the third phase of the partial repurchase of shares and cancellation is a decision made by the company based on the current actual situation, which is conducive to further improving the level of earnings per share and effectively increasing the return on investment of the company’s shareholders. The financial status and operating results have a significant impact, and there is no situation that harms the interests of the company and the rights of small and medium investors.

This is not the first time Gree Electric has cancelled the repurchased shares. Since April 2020, the company has completed three share repurchases, spending a total of about 27 billion yuan. In February 2021, the company announced the completion of the first phase of the share repurchase plan, buying a total of 109 million company shares through centralized bidding, with a total transaction amount of approximately 6 billion yuan; in May 2021, the company announced the completion of the second phase of shares The repurchase plan will buy 101 million shares of the company through centralized bidding, with a total transaction amount of approximately 6 billion yuan.

Every reporter: Guo Rong Village Every intern reporter: Chen Hao Every editor: Liang Xiao

See also  After announcing the establishment of a factory in Europe!BYD's stock price soared, and Warren Buffett, the stock god, also strongly supported--fast technology--technology changes the future

On the evening of September 28, Gree Electric (000651, SZ) issued an announcement stating that the company intends to cancel the third phase of the repurchase of 70% of the purchased shares to reduce the registered capital, and the remaining repurchased shares will still be used for the implementation of employee shareholding plan. On September 9 this year, the third phase of the company’s share repurchase was completed, and the total transaction amount was about 15 billion yuan. Calculated on the basis of the repurchase price, the value of Gree Electric’s proposed cancellation of shares is about 10.5 billion yuan.

The “Daily Business News” reporter noted that since April 2020, Gree Electric has completed three share repurchases, with a total cost of about 27 billion yuan. In addition to the planned cancellation of all stocks worth about 6 billion yuan repurchased in the second phase, Gree Electric has planned to cancel about 16.5 billion stocks.

When the stock price is down, the company often repurchases the stock and writes it off to stabilize the stock price. When the share repurchase was initiated for the first time in April 2020, Gree Electric’s share price once ushered in a wave of rise, but since 2021 (September 28), the company’s share price has continued to fall, with a cumulative decline of 35%. In the first half of this year, Gree Electric achieved revenue of 91.052 billion yuan, a year-on-year increase of 31.01%, and net profit attributable to shareholders of listed companies was 9.457 billion yuan, a year-on-year increase of 48.64%. A number of brokerage research reports believe that Gree Electric’s current valuation is relatively low and is optimistic about the company’s share price trend in the future.

Proposed cancellation of stocks worth about 10.5 billion yuan

On the evening of September 28, Gree Electric issued an announcement stating that in view of the fact that the company has not used the third-phase repurchase shares in the short-term specific plan for employee stock ownership plans or equity incentives, according to the actual situation of the company, the company intends to repay the third phase. The purchase of 70% of the purchased shares (ie 221 million shares) will be cancelled to reduce the registered capital, and the remaining 30% of the purchased shares will still be used to implement the employee stock ownership plan.

See also  Responsibility is to declare!The new regulations of the China Securities Regulatory Commission urge brokerages to return to their positions, and investment banks look forward to clarifying the responsibilities of all parties_Supervision

On May 26 this year, Gree Electric disclosed that it will carry out the third phase of share repurchase, and the repurchased shares will be used for the company’s employee stock ownership plan or equity incentives. As of September 9, the company said that the third phase of the repurchase had been implemented, and a total of 316 million shares of the company were purchased through centralized bidding through the special securities account for repurchase, and the total transaction amount was about 15 billion yuan. Calculated on the basis of the repurchase price, the value of Gree Electric’s proposed cancellation of shares is about 10.5 billion yuan.

Gree Electric also stated that this change in the third phase of the partial repurchase of shares and cancellation is a decision made by the company based on the current actual situation, which is conducive to further improving the level of earnings per share and effectively increasing the return on investment of the company’s shareholders. The financial status and operating results have a significant impact, and there is no situation that harms the interests of the company and the rights of small and medium investors.

This is not the first time Gree Electric has cancelled the repurchased shares. Since April 2020, the company has completed three share repurchases, spending a total of about 27 billion yuan. In February 2021, the company announced the completion of the first phase of the share repurchase plan, buying a total of 109 million company shares through centralized bidding, with a total transaction amount of approximately 6 billion yuan; in May 2021, the company announced the completion of the second phase of shares The repurchase plan will buy 101 million shares of the company through centralized bidding, with a total transaction amount of approximately 6 billion yuan.Return to Sohu to see more

Editor:

Disclaimer: The opinions of this article only represent the author himself. Sohu is an information publishing platform. Sohu only provides information storage space services.

.

You may also like

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy