“Express Mao” SF, announcement: Based on confidence in future development prospects and high recognition of the company’s value, the plan is not less than 1 billion yuan and not more than 2 billion yuan, and the repurchase price is not more than 70 yuan / share. The repurchased shares will be used for employee stock ownership plan or equity incentive.
As soon as the news came out, 220000 shareholders quarreled: some shouted that it was a great benefit, but others thought that if the repurchase was not cancelled, it was playing hooligans.
Previously, SF had fallen for more than a year, its share price halved, and its market value evaporated by more than 300 billion.
optimistic about the value of the company
SF plans to spend 1 billion to 2 billion yuan to buy back shares
On the evening of March 2, S.F.Holding Co.Ltd(002352) announced that based on confidence in the future development prospects and high recognition of the company’s value, the company plans to buy back some public shares through centralized bidding with its own funds through the secondary market.
The total capital of repurchase shall not be less than 1 billion yuan and not more than 2 billion yuan, and the repurchase price shall not exceed 70 yuan / share. The repurchased shares will be used for employee stock ownership plan or equity incentive.
According to the calculation of the upper limit of repurchase amount of RMB 2 billion and the upper limit of repurchase price of RMB 70 / share, the number of shares that can be repurchased is expected to be no less than 285714 million shares, accounting for about 0.58% of the current total share capital of the company;
According to the calculation of the lower limit of repurchase amount of RMB 1 billion and the upper limit of repurchase price of RMB 70 / share, the number of shares that can be repurchased is expected to be no less than 14285700 shares, accounting for about 0.29% of the current total share capital of the company.
The specific number of shares to be repurchased shall be subject to the actual number of shares to be repurchased at the expiration of the repurchase period. The repurchase period is within 6 months from the date when the repurchase plan is considered and approved by the board of directors of the company.
S.F.Holding Co.Ltd(002352) said that as of September 30, 2021 (Unaudited), the total assets of the company were 190.6 billion yuan, the owner’s equity attributable to the shareholders of the listed company was 57.7 billion yuan, the total liabilities were 121.7 billion yuan, the balance of monetary funds was 18.7 billion yuan, and the company realized operating revenue of 135.9 billion yuan from January to September 2021. The maximum repurchase amount is 2 billion yuan, accounting for 1.05% and 3.47% of the total assets of the company and the owner’s equity attributable to the shareholders of the listed company, respectively. The company is in good financial condition, and the company has sufficient self owned funds to pay for the share repurchase.
for ESOP or equity incentive
At the same time, S.F.Holding Co.Ltd(002352) also issued the announcement on the implementation of employee incentive scheme for share repurchase by centralized bidding S.F.Holding Co.Ltd(002352) said that based on the confidence in the company’s future development prospects and the high recognition of the company’s value, in order to further improve the company’s long-term incentive mechanism, fully mobilize the enthusiasm of the company’s core backbone and excellent employees, and jointly promote the long-term development of the company, the company comprehensively considers the business development prospects, operation, financial status Based on the future profitability and the recent performance of the company’s shares in the secondary market, it is planned to repurchase the company’s shares with its own funds through the secondary market for the implementation of the employee stock ownership plan or equity incentive plan.
bad or good
220000 shareholders quarreled
After the news came out, the stock bar quarreled over whether it was bad or good.
The first reaction of many investors was very positive.
However, according to the analysis of investors, repurchase without cancellation is tantamount to playing hooligans.
According to the data, by the end of the third quarter of 2021, SF had more than 225000 shareholders.
share price plummeted by more than 300 billion yuan
last year’s net profit fell by more than 40%
In terms of stock price performance, SF has been in a downward channel in recent years. Since February last year, after breaking through 124 yuan per share, the share price has fallen endlessly. The latest share price is 58 yuan per share. The market value has evaporated from the high point by more than 320 billion yuan, and the latest market value is 285 billion yuan.
On January 29, S.F.Holding Co.Ltd(002352) released the performance forecast for 2021. It is estimated that the net profit attributable to the shareholders of the listed company is 4.2 billion yuan – 4.4 billion yuan, a decrease of 40% – 43% over the same period of the previous year.
S.F.Holding Co.Ltd(002352) explained that the company’s performance in 2021 decreased year-on-year, mainly due to: 1) the company increased the investment in network resources such as site, equipment and transportation capacity in order to expand market share, build long-term core competitiveness, cope with the high growth of parts volume and alleviate the bottleneck of production capacity; 2) During the epidemic period at the beginning of the year, in response to the call of the Spring Festival to celebrate the new year in place, the number of on-the-job employees and subsidies increased, resulting in an increase in labor costs; 3) The economic express delivery products with low price increase rapidly, which puts some pressure on the overall profit margin; 4) In 2020, the company will enjoy more preferential tax relief related to national anti epidemic, and these preferential policies will end in 2021.
