SHANYING INTERNATIONAL(SH:600567) Chang Jiang Shang Bao·2025-06-26 23:25Core Viewpoint - Company Shanying International (600567.SH) is demonstrating confidence in the market by announcing a share buyback plan, aiming to enhance its stock price and support employee stock ownership plans [1][2]. Group 1: Share Buyback Announcement - Shanying International plans to repurchase shares using its own and self-raised funds through centralized bidding, with a total buyback amount between 5 billion and 10 billion yuan [1]. - The buyback price will not exceed 2.50 yuan per share, which is 35.87% higher than the current market price of 1.84 yuan per share [1]. Group 2: Financial Performance and Historical Context - Since its listing in 2001, Shanying International has experienced two years of losses, with a significant loss of 15 billion yuan in 2022 due to goodwill impairment from previous acquisitions [2]. - The company made high-premium acquisitions in 2017 and 2018, which initially boosted profits but later led to substantial losses when the acquired companies underperformed [2]. Group 3: Recent Operational Developments - In 2023 and 2024, Shanying International reported revenues of 293.3 billion yuan and 292.3 billion yuan, with net profits of 1.56 billion yuan and a loss of 4.51 billion yuan, respectively [3]. - The company is adjusting its overseas strategy and has seen a 6.71% increase in raw paper production to 7.24 million tons in 2024, with sales up by 8.03% to 7.32 million tons [3]. - As of the first quarter of 2025, Shanying International's total assets were 539.7 billion yuan, with a debt ratio of 68.76%, down from 71.37% the previous year [3].