The "buyback wave" of chemical listed companies has arrived
2023/8/31
Previously, Rongsheng Petrochemical announced that based on its confidence in the company's future development prospects and recognition of its long-term value, in order to enhance investor confidence, promote a reasonable return of the company's stock price to its long-term intrinsic value, and promote stable and sustainable development, it has decided to repurchase some of the company's shares. Rongsheng Petrochemical plans to repurchase no less than 1 billion yuan and no more than 2 billion yuan this time. Jiuri New Materials announced that Zhao Guofeng, the controlling shareholder, actual controller, and chairman of the company, proposed to use the raised funds to repurchase shares through centralized bidding transactions, with a repurchase amount of no less than 15 million yuan and no more than 30 million yuan; The repurchase price shall not exceed 40 yuan per share. Huasheng Lithium Battery has announced that Shen Jinliang, the controlling shareholder, actual controller, and chairman of the company, proposes to use part of the raised funds to repurchase shares through centralized bidding transactions, with a repurchase amount of no less than 15 million yuan and no more than 30 million yuan, and a repurchase price of no more than 50 yuan per share.
From the perspective of repurchase scale, the top five industries this year are also quietly changing. According to statistical data, the top five industries in terms of repurchase scale this year are pharmaceuticals, electronics, computers, petrochemicals, and automobiles. During the same period last year, it was mainly concentrated in industries such as household appliances, computers, electronics, pharmaceuticals, and telecommunications.
From the perspective of repurchase purposes, currently most listed companies repurchase shares for employee stock ownership plans or equity incentives, which helps to bind the company's development with the immediate interests of employees, thereby stimulating the operational vitality of listed companies. On August 19th, Sailun Tire stated that the 59.9 million shares of the company's stock held in the company's repurchase special securities account had been transferred to the company's 2023 employee stock ownership plan securities account on August 17th through non-trading transfer, with a transfer price of 5.68 yuan per share. Xu Guangfu, the actual controller and chairman of Daquan Energy, Wang Shumin, the chairman of Anji Technology, and Wang Yalong, the controlling shareholder, actual controller, chairman and general manager of Laite Optoelectronics, all proposed to conduct share buybacks through centralized bidding transactions in order to closely combine the interests of shareholders, the company, and employees.
Repurchase is to some extent a positive behavior, indicating that the company has abundant cash flow and stable operations, as well as demonstrating the determination of the company's management to maintain the stock price, "said Wang Weijia, General Manager of Beijing Sunshine Tianhong Asset Management Company.
Industry insiders believe that the active announcement of repurchase plans by listed companies reflects the recognition of corporate value by industrial capital, which is conducive to stabilizing the company's stock price; On the other hand, it promotes the establishment and improvement of long-term incentive mechanisms for listed companies, helping them achieve long-term development. The China Securities Regulatory Commission recently stated that the next step will be to further optimize the share repurchase system, support more listed companies to stabilize and boost stock prices, safeguard shareholder rights, and consolidate the foundation of stable market operation through share repurchase.
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