As the end of the year approaches, the enthusiasm of listed companies for repurchase remains undiminished. Some listed companies, represented by Hengyi Petrochemical, plan to have a maximum repurchase amount of 1 billion yuan. Recently, many listed companies have implemented buybacks shortly after announcing their repurchase plans. Industry insiders say that large-scale buybacks by listed companies can send signals of undervaluation to the market, enhance investor confidence, and promote a reasonable return of stock prices. Hengyi Petrochemical recently disclosed its announcement on the fourth phase of its share repurchase plan through centralized bidding. The total amount of funds for this share repurchase shall not be less than 500 million yuan and shall not exceed 1 billion yuan. The price of this share repurchase shall not exceed 10 yuan per share. The repurchase period shall not exceed 12 months from the date of approval of this repurchase plan by the board of directors. We plan to use the repurchased shares for implementing employee stock ownership plans or equity incentives. In addition to issuing a formal repurchase plan, some actual controllers and chairmen of listed companies have also proposed to repurchase company shares. Igor issued a notice on the evening of December 17th regarding the receipt of a proposal from the actual controller and chairman for the company to repurchase shares. According to the announcement, on December 15th, the company received a letter from the actual controller and chairman, Xiao Juncheng, proposing that Igor Electric Co., Ltd. repurchase the company's shares. Based on confidence in the company's future development prospects and recognition of the company's value, in order to effectively enhance investor trust, the actual controller and chairman of the company, Xiao Juncheng, proposed that the company repurchase some of the company's shares through centralized bidding trading, And at the appropriate time in the future, repurchased shares will be used for equity incentives or employee stock ownership plans to further improve the company's long-term incentive mechanism, fully mobilize the enthusiasm of core employees, ensure the achievement of the company's long-term business goals and shareholder interests, and thereby enhance the overall value of the company. The total amount of repurchase funds ranges from 60 million yuan to 120 million yuan. From the perspective of repurchase purposes, the proportion of repurchase used for implementing equity incentives or employee stock ownership plans is relatively high. Some listed companies have mentioned in their repurchase plans that the repurchase will be used for the 2024 employee stock ownership or equity incentive plan. On the evening of December 15th, Tongda Shares announced that the company has used its own funds to repurchase company shares and implement employee stock ownership plans or equity incentives for three consecutive years from 2021 to 2023. During this period, the company's operating income has significantly increased, effectively improving the company's long-term incentive mechanism, mobilizing the enthusiasm of the company's core backbone and outstanding employees, and achieving good benefits for the company's long-term development. In 2024, the company plans to continue using its own funds to repurchase some of its shares through centralized bidding or other methods recognized by the China Securities Regulatory Commission, and use it to implement employee stock ownership plans or equity incentives. The shares to be repurchased this time are intended to be repurchased using our own funds of no less than 10 million yuan (inclusive) and no more than 20 million yuan, through centralized bidding. China Securities News reporter noticed that recently, many listed companies have implemented buybacks shortly after releasing their repurchase plans. On the evening of December 17th, Tianyuan Environmental Protection released a notice on the first repurchase of company shares, which showed that on December 14th, the company implemented the repurchase of shares for the first time. The company collected shares through the Shenzhen Stock Exchange's stock trading system
Edit：Hou Wenzhe Responsible editor：WeiZe
Source：China Secruities Daily
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