Derived from data treasure

The buyback enthusiasm of listed companies is high.

Since this yearPlayfreeslotswinrealmoneyBuyback has become a hot word in the market, listed companies have joined the buyback army, major shareholders in order to maintain the stability of the company's stock price or based on confidence in the future development, issued buyback proposals to listed companies. Most companies actively start buybacks after receiving the proposal, but there are also companies such as Xidian Xinneng, which have been questioned by investors for "leisurely" buybacks in the past three months after being proposed by major shareholders.

According to the statistics of the Securities Times data Bao, since the beginning of this year, there have been more than 250 buyback proposals put forward by major shareholders / chairmen of listed companies, including Haiguang Information, Longji Green Energy and Sany heavy Industry (600031) with a market capitalization of 100 billion yuan. There are also Xingtu Xinke, Kangzhong Medical and Lianxiang shares with a market value of only more than 1 billion yuan.

Respond positively to the buyback proposal

14 companies have bought back more than 100 million yuan

Most of the buyback plans proposed by the major shareholder / chairman have received a positive response from listed companies. Among the 250 companies mentioned above, more than 220 companies have begun to implement buybacks, and 14 of them have accumulated more than 100 million yuan.

The highest repurchase amount is Jucan Optoelectronics (300708). At present, the company has completed the repurchase plan, with a cumulative repurchase amount of 300 million yuan. On February 1, Jucan Optoelectronics's controlling shareholder and actual controller proposed to buy back 300 million yuan to 500 million yuan of shares. Subsequently, the company convened a board of directors on February 5 to consider and approve the buyback plan, which was implemented on the same day.PlayfreeslotswinrealmoneyThe first buyback; on April 8, the company announced the completion of the repurchase plan, with a total repurchase amount of 300 million yuan. From the shareholders' proposal to the completion of the implementation, Jucan Optoelectronics took only more than 2 months.

Sany heavy Industry, the leader of construction machinery, also responded quickly to the chairman's buyback bill. From February 1, the chairman of the company put forward the buyback bill to Mr. Wenbo, to the latest buyback progress announcement on March 31, the repurchase amount has accumulated 2.Playfreeslotswinrealmoney88 million yuan, the company's proposed buyback amount is 600-1 billion yuan.

The repurchase amount of Happy Home and China Micro Corporation (688012) also exceeded 200 million yuan, and the repurchase proposal was received on February 1.

Happy Home launched a buyback program on February 7, intending to buy back 1.PlayfreeslotswinrealmoneyThe buyback program was completed on March 20, with a total repurchase amount of 225 million yuan. At the same time, the company also announced that it had completed the cancellation of 631700 shares repurchased for the first time on April 1.

China Micro Corporation launched a buyback program on February 8. At present, the repurchase amount has reached 229 million yuan, and the company plans to buy back 300 million yuan to 500 million yuan.

Other companies that received buyback proposals and quickly implemented buybacks during the year included 10 companies with an amount of more than 100 million yuan, including Yubang Electric Power, Jinyu Medicine (603882), South Asia New Materials and so on.

Just move your mouth, don't do it.

The "leisurely" buyback is not good.

However, it is worth noting that some companies have been slow to move in the past few months after receiving proposals from major shareholders / chairmen. Among the companies that did not include the April proposal, three companies, including Xidian Xinneng, received buyback proposals from January to March.

Taking Xidian Xinneng as an example, the company received a share buyback proposal from the controlling shareholder, one of the actual controllers, the chairman and general manager on February 1st, with a proposed repurchase amount of 55 million-110 million yuan. After receiving the proposal, Xidian Xinneng said that it would seriously study the above contents as soon as possible and formulate a reasonable and feasible share buyback plan.

However, it has been nearly three months since the controlling shareholder proposed a buyback, Xidianeng still has no actual action, and the company's board of directors has not held a meeting to consider the proposal, which has sunk into thin air and has not disclosed any progress to investors.

As a result, some investors question the company's "leisurely" buyback. On the Shanghai e-interactive platform, there were more than 10 inquiries about buybacks, but Xidianxin turned a deaf ear to investors' concerns and did not respond. As a result, some investors questioned whether the company had a "leisurely" buyback.

Some investors also said that Xidianxineng has been listed for less than six months, which does not meet the requirements of the "listed companies' share repurchase rules" that repurchase can only be implemented after "listing for six months." according to the company's listing in January this year, the time window for the implementation of buyback is July this year.

However, the Shanghai Stock Exchange issued in December last year the "Shanghai Stock Exchange listed companies self-regulatory guidelines No. 7-Repurchase shares (revised in December 2023)," according to the rules, if the closing price of a listed company has dropped by 20% within 20 consecutive trading days, and the repurchase shares are cancelled, it may not be subject to the condition that it will take six months for the listing to implement the repurchase.

According to Xidianxineng, the company's closing price fell by 32% from January 12 to January 31 (the day before the shareholders' proposal), and by February 7, even as much as 40%. According to the above guidelines of the Shanghai Stock Exchange, as long as the company buys back shares for cancellation, the repurchase conditions have been fully met.

Similar to Xidian Xinneng, Essen shares, which listed in December last year, did not meet the six-month-old conditions when they launched the repurchase plan. The company received a repurchase proposal from the real controller on February 5 and launched the repurchase plan on February 27. Essen shares fell sharply after its listing, with a cumulative closing price drop of more than 58% from December 12, 2023 to February 7 this year, so the company's buyback program is not subject to six-month listing conditions.

It is worth noting that Xidianxin's share price rose the next day after shareholders issued a buyback proposal, which shows that investors are looking forward to the company's buyback. However, through the "leisurely" buyback, just move the mouth without action, will have a great impact on the credibility of the company.

For "leisurely" buybacks, regulators also make it clear that they will strictly investigate and deal with them. Last year, the Securities Regulatory Commission issued the rules on share repurchase of listed companies to strengthen the monitoring mechanism of repurchase transactions, strictly prevent "leisurely" repurchases, and add the stipulation that "stock exchanges can take self-regulatory measures or disciplinary actions in accordance with business rules." On December 3, 2023, Hezhong Technology (300477) was put on file for investigation by the Securities Regulatory Commission because of its "leisurely" repurchase.

Disclaimer: all the information content of Databao does not constitute investment advice, the stock market is risky, investment should be cautious.