Three years later, S.F.Holding Co.Ltd(002352) issued a huge repurchase plan.
On March 2, 2022, S.F.Holding Co.Ltd(002352) announced that on the basis of comprehensively considering the business development prospect, operation, financial status, future profitability and the recent performance of the company’s shares in the secondary market, it plans to repurchase some public shares through centralized bidding with its own funds through the secondary market, the repurchase amount is 1 billion yuan to 2 billion yuan, The repurchase price shall not exceed 70 yuan / share
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, S.F.Holding Co.Ltd(002352) it is estimated that the number of shares that can be repurchased will not be less than 285714 million, 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 1 billion yuan and the upper limit of repurchase price of 70 yuan / 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.
as of March 2, S.F.Holding Co.Ltd(002352) closing price is 58.08 yuan / share, which is not small compared with the upper limit of repurchase price of 70 yuan / share p align = “center” March 2, S.F.Holding Co.Ltd(002352) stock price trend
In contrast, S.F.Holding Co.Ltd(002352) the planned repurchase amount is much higher than that three years ago.
On January 31, 2019, the S.F.Holding Co.Ltd(002352) board of directors passed a proposal to repurchase part of the company’s shares for employee stock ownership plan or equity incentive by means of centralized bidding with its own funds. The repurchase amount is RMB 200 million to RMB 400 million, the repurchase unit price does not exceed 45 yuan / share, and the repurchase period is within 6 months from the date when the company’s board of directors deliberates and approves the repurchase plan.
In April 2019, S.F.Holding Co.Ltd(002352) completed the repurchase. At that time, the Company repurchased 110107 million shares in total through centralized bidding, accounting for 0.2492% of the total share capital of the company. The transaction price ranged from 34.48 yuan / share to 37.34 yuan / share, with a transaction amount of 395 million yuan (excluding transaction costs)
interestingly, on February 27, 2019, S.F.Holding Co.Ltd(002352) released a performance express that the company achieved a total operating revenue of 90.943 billion yuan in 2018, an increase of 27.60% year-on-year; The net profit was 4.556 billion yuan, a year-on-year decrease of 4.57% p align = “center” S.F.Holding Co.Ltd(002352) 2018 performance express
Looking back at the stock price performance, in the first half of 2019, S.F.Holding Co.Ltd(002352) was in the stage of “shock bottoming”, and finally reached the bottom in June 2019. After that, it continued to rebound and hit a new high, with a maximum increase of more than 300%.
From the current perspective, S.F.Holding Co.Ltd(002352) just released the performance forecast for 2021 shortly before the release of the repurchase plan.
On January 29, 2022, S.F.Holding Co.Ltd(002352) released the performance forecast. It is expected to achieve a net profit of 4.2 billion yuan to 4.4 billion yuan in 2021, a year-on-year decrease of 40% to 43%P align = “center” S.F.Holding Co.Ltd(002352) expected performance in 2021
This performance forecast is regarded as positive by the market S.F.Holding Co.Ltd(002352) 2021 fourth quarter net profit of 2.4 billion yuan to 2.6 billion yuan, an increase of 39% to 50%, far exceeding expectations.
Since the second half of 2021, S.F.Holding Co.Ltd(002352) has continued to fluctuate after falling from a high level. With the high-profile release of the huge repurchase plan, will its share price repeat the performance after the repurchase in 2019?
