On the evening of March 2, S.F.Holding Co.Ltd(002352) announced that the company plans to repurchase some public shares with its own funds through the secondary market through centralized bidding.
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
The announcement shows that 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.
It is reported that as of September 30, 2021 (Unaudited), the total assets of company are 190.6 billion yuan and the owner’s equity attributable to shareholders of listed companies is 57.7 billion yuan. The total liabilities of company are 121.7 billion yuan, and the balance of monetary funds is 18.7 billion yuan. From January to September, 2021, the company achieved operating income of 135.9 billion yuan
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.
Since 2022, SF’s share price has continued to decline. On January 4, SF’s share price closed at 71.42 yuan, and on March 2, SF closed at 58.08 yuan. In just two months, SF’s share price fell by 18.6%, and its market value evaporated by about 65.45 billion yuan
