Sou Hu Cai Jing·2025-07-11 03:30Core Viewpoint - The brokerage firms have been actively repurchasing shares since 2025, with significant actions taken in response to market fluctuations, signaling strong confidence in maintaining company value and shareholder rights [1][8]. Group 1: Share Repurchase Activities - Guotai Junan completed its A-share repurchase plan on July 9, 2025, buying back 67.52 million shares, which is 0.3830% of its total share capital, for a total payment of 1.211 billion yuan [1][3]. - The repurchase wave began in April 2025, driven by the Central Huijin's market stabilization measures, leading to over 240 listed companies announcing repurchase plans, with a month-on-month increase of over 5 times [1][8]. - Other brokerages like Dongfang Securities and Zhongtai Securities have also announced their repurchase plans, with Dongfang repurchasing 26.70 million shares for 250 million yuan, representing 0.31% of its total share capital [3][5]. Group 2: Repurchase Objectives and Market Impact - The primary purpose of the repurchase actions by Guotai Junan, Dongfang Securities, and others is to maintain company value and shareholder rights, reflecting their recognition of long-term investment value [8]. - Zhongtai Securities has indicated that its repurchased shares will be used to reduce registered capital, which can enhance earnings per share and overall company value [8]. - The repurchase actions have positively impacted stock performance, with Guotai Junan's stock price increasing by 19% over three months, and other brokerages also showing gains since their repurchase announcements [10].