A股回购热潮持续：注销式回购案例增多

Core Viewpoint - The enthusiasm for share buybacks among A-share listed companies continues to rise, with many companies announcing new buyback plans and achieving previous targets quickly [1][2][4]. Group 1: Buyback Activity - A total of 666 A-share listed companies or significant shareholders have obtained buyback increase loans, with a total amount of approximately 1339.6 billion yuan since October 2024 [1][4]. - Companies like Shengxin Lithium Energy have set short buyback periods, with a three-month timeframe for their buyback plans [1]. - WuXi AppTec completed its previous buyback plan, repurchasing 15.7754 million shares, accounting for 0.5462% of its total share capital, with a total buyback amount of around 1 billion yuan [2]. Group 2: Financial Support for Buybacks - Companies are increasingly obtaining special loan commitments from financial institutions for stock buybacks, such as WuXi AppTec and Aikodi, which received loan commitments of up to 4 billion yuan and 1.8 billion yuan, respectively [2][4]. - The People's Bank of China announced a combined quota of 800 billion yuan for stock buyback and increase loans, along with a 0.25 percentage point reduction in the interest rate for structural monetary policy tools [5]. Group 3: Purpose of Buybacks - Many companies are using buybacks for share cancellation, with plans to reduce registered capital, as seen in the announcements from Hualan Biological Engineering and Shengjian Technology [7][8]. - The change in buyback purpose from employee stock ownership plans to cancellation is expected to increase the buyback intensity among A-share listed companies [8].