In the recent wave of repurchase of listed companies, many companies have begun to implement it. Among them, S.F.Holding Co.Ltd(002352) acted quickly: following the disclosure of the repurchase plan on March 2, it was disclosed on March 3 that it had spent 12.58 million yuan to implement the first round of repurchase; On the same day, Xinjiang Tianrun Dairy Co.Ltd(600419) also disclosed that it had implemented the first repurchase. In addition, the share repurchase plan of employees will be disclosed in the early stage.
lightning repurchase
On March 2, S.F.Holding Co.Ltd(002352) the board of directors passed a proposal to use its own funds to buy back part of the company’s shares by means of centralized bidding in the next six months for employee stock ownership plan or equity incentive. The total amount of repurchase will be between 1 billion yuan and 2 billion yuan, and the price will not exceed 70 yuan / share.
The repurchase plan S.F.Holding Co.Ltd(002352) has a period of six months. However, the company launched its first repurchase on March 3, and repurchased 215000 shares of the company through centralized bidding, accounting for 0.0044% of the total share capital. The transaction price ranged from 58.48 to 58.64 yuan / share, and the total transaction amount was 1258334789 yuan (excluding transaction costs).
In terms of market performance, from January to March 2 this year, S.F.Holding Co.Ltd(002352) share price fell by nearly 19%; After throwing out the repurchase plan, it closed on March 3, and the S.F.Holding Co.Ltd(002352) share price stabilized, rising slightly by 0.76%.
On the same day, Xinjiang Tianrun Dairy Co.Ltd(600419) disclosed the progress of Repurchase: on March 3, the Company repurchased 15700 shares for the first time through centralized bidding, with a transaction price of 13.17-13.20 yuan / share, with a total investment of 207000 yuan, accounting for 0.005% of the total share capital of the company,
On February 23, Xinjiang Tianrun Dairy Co.Ltd(600419) disclosed that it planned to spend 72 million yuan to buy back 3.2 million to 4.8 million shares in the next year, with a price of no more than 15 yuan / share, all for employee stock ownership plan or equity incentive.
Since the end of January, Xinjiang Tianrun Dairy Co.Ltd(600419) share price has rebounded significantly. As of the latest closing, the cumulative increase is close to 10%, and the latest closing price has reached 13.21 yuan / share.
In addition, more listed companies have joined the “army” of Repurchase: according to Hangzhou Raycloud Technology Co.Ltd(688365) latest disclosure, the company plans to repurchase shares for employee stock ownership plan or equity incentive, the total amount of repurchase funds will be 20 million yuan to 40 million yuan, and the repurchase price will not exceed 20 yuan / share.
new push employee stock ownership plan
According to China stock market news, since 2022, more than 230 listed companies have launched repurchase plans or are implementing them, most of which are used to implement employee stock ownership plans or equity incentive plans. In terms of implementation, Baoshan Iron & Steel Co.Ltd(600019) , BOE will take the lead in repurchase, spending 3.598 billion yuan and 2.62 billion yuan respectively, followed by Hengli Petrochemical Co.Ltd(600346) , Shenzhen Mindray Bio-Medical Electronics Co.Ltd(300760) , spending 1 billion yuan respectively.
However, the market did not buy it easily. Among them, Hengli Petrochemical Co.Ltd(600346) since February 23, the company’s share price has fallen by about 19%. Recently, the company has also changed the purpose of the repurchase plan. The repurchased shares are not invested in the equity incentive plan, but are all used in the employee stock ownership plan, which aims to fully mobilize the enthusiasm and creativity of employees and enhance the cohesion and competitiveness of the company.
On March 3, Hengli Petrochemical Co.Ltd(600346) disclosed the sixth draft of the company’s employee stock ownership plan, which shows that the employee stock ownership plan obtains and holds the company’s shares through special financial products, and the total capital ceiling of special financial products is 7.38 billion yuan, of which: the total capital ceiling of employee stock ownership plan is 3.69 billion yuan; The ESOP plans to raise funds by establishing special financial products, securities company margin trading, insurance asset management products and other ways permitted by laws and regulations. The proportion of financing funds to employees’ self raised funds shall not exceed 1:1.
As the controlling shareholder, Hengli Group and its actual controllers Chen Jianhua and fan Hongwei will provide a guarantee for the ESOP. After deducting relevant taxes, they will ensure that the annualized rate of return of employees’ own funds calculated by simple interest is not lower than the one-year loan market quotation interest rate LPR (i.e. 3.70%) published by the central bank interbank lending center in the same period.
The Hengli Petrochemical Co.Ltd(600346) employee stock ownership plan lasts for 3 years, covering a wide range and great efforts. The number of participants is expected to be no more than 11000, covering middle-level personnel, ordinary employees who have worked continuously for more than 1 year and retirees; It is estimated that after the completion of the employee stock ownership plan, Hengli Petrochemical Co.Ltd(600346) all effective employee stock ownership plans will hold no more than 10% of the total share capital of the company.
