Another batch of companies has announced share repurchase plans. Among them, the A-share "pig farming giant" Wens Foodstuff Group Co., Ltd. plans to repurchase up to 1.8 billion yuan, and the carbon material leader Fangda Carbon New Material Co., Ltd. plans to repurchase up to 1 billion yuan, attracting market attention.
So far this year, nearly 1,300 companies across the market have released share repurchase plans, with the largest repurchase amount being Tongwei Co., Ltd., which plans to repurchase up to 4 billion yuan, followed by Yili Group Co., Ltd., which plans to repurchase up to 2 billion yuan. Wens Foodstuff Group Co., Ltd.'s repurchase amount of up to 1.8 billion yuan can temporarily rank third.
Both companies claim "recognition of value"
Wens Foodstuff Group Co., Ltd. announced that, based on confidence in the company's future development prospects and high recognition of the company's value, and to further improve the company's long-term incentive mechanism, fully mobilize the enthusiasm of outstanding employees, enhance team cohesion, and promote the company's long-term and healthy development, the company plans to use its own funds to repurchase some of the company's shares.
The repurchase amount of Wens Foodstuff Group Co., Ltd. this time does not exceed 1.8 billion yuan and is not less than 900 million yuan (both inclusive), and the repurchase price does not exceed 27.01 yuan per share (inclusive). According to the upper limit of the repurchase price and the upper and lower limits of the repurchase amount, it is estimated that the number of repurchased shares will be between 33.321 million and 66.642 million shares, accounting for approximately 0.5% to 1% of the company's total share capital as of the close on June 28, 2024. The repurchase period is no more than 12 months from the date the board of directors approves the repurchase share proposal.
As of the close on September 18, the stock price of Wens Foodstuff Group Co., Ltd. was 15.2 yuan, with a market value of 101.1 billion yuan.
Fangda Carbon New Material Co., Ltd. also announced that, based on confidence in the company's future development and recognition of the company's value, in order to protect the interests of the company and shareholders, the company comprehensively considered factors such as the current operating situation, financial status, and future profitability, and plans to use its own funds to repurchase shares through a centralized bidding transaction.
The total amount of funds for Fangda Carbon New Material Co., Ltd.'s repurchase this time is not less than 900 million yuan (inclusive) and not more than 1.8 billion yuan (inclusive). The term for repurchasing shares is no more than 3 months from the date the company's board of directors approves the share repurchase plan. The price for repurchasing shares does not exceed 4.33 yuan per share (inclusive). The repurchased shares are planned to be sold through a centralized bidding transaction 12 months after the disclosure of the repurchase results and share change announcement.
As of the close, the stock price of Fangda Carbon New Material Co., Ltd. was 3.82 yuan, and the company's latest market value was 15.38 billion yuan.
Nearly 1,300 companies have repurchased this year.As of the evening of September 18th, by the time the reporter filed the article, companies such as PowerChip Microelectronics, Megmeet, Suzhou Testing, Lihe Micro, Mercury Home Textiles, Liangwei Micro, and Julang Technology have proposed share repurchase plans, or the company's chairman has proposed a repurchase, with the amounts mostly in the tens of millions of yuan.
According to the data from Tonghuashun iFind, taking the announcement date of the board of directors' preliminary plan for the repurchase as the standard, as of September 14, 2024, there have been 1,269 A-shares that have proposed repurchase plans this year. Since the beginning of this year up to September 14, there have been 163 trading days in the A-share market, which means that the average number of companies announcing repurchase per trading day has reached 7.785.
Among these more than 1,200 companies, including Wens Foodstuffs and Fangda Carbon, there are 22 companies that plan to repurchase with a maximum amount of 1 billion yuan or more. Among them, the top three companies with the highest planned repurchase amounts are Tongwei Shares, Yili Shares, and Wens Foodstuffs, with amounts of 4 billion yuan, 2 billion yuan, and 1.8 billion yuan, respectively.