上市公司真金白银回购，提振市场信心

Group 1 - The A-share market is experiencing a significant wave of share buybacks and increases in stock repurchases, with over 10.6 trillion yuan distributed to investors through dividends and buybacks during the "14th Five-Year Plan" period, indicating a heightened awareness of shareholder returns [1] - In 2024, a record number of A-share companies engaged in buybacks, with 1,472 companies announcing buyback plans and 2,192 companies executing buybacks, totaling 158.613 billion yuan, marking a historical high [2] - The trend of buybacks continues into 2025, with 634 A-share companies already announcing buyback plans, maintaining the strong momentum from the previous year [2] Group 2 - The quality of buybacks is improving, with an increase in "cancellation buybacks" aimed at reducing registered capital, which has become a new focus in the market [4] - The total amount of dividends and buybacks during the "14th Five-Year Plan" period has increased by over 80% year-on-year, being 2.07 times the total amount of equity financing during the same period [4] - Recent announcements from companies like Chuling Information indicate a shift in the purpose of previously repurchased shares to "cancellation and reduction of registered capital," which can directly enhance earnings per share (EPS) and return on equity (ROE) [4] Group 3 - The current wave of buybacks is supported by effective policy tools, including a stock repurchase and increase loan program initiated by the People's Bank of China, with an initial quota of 300 billion yuan, later increased to 800 billion yuan [4] - As of October 6, 735 A-share companies or significant shareholders have received buyback and increase loans totaling approximately 150.643 billion yuan, with 495 new companies benefiting this year [5] - This loan support not only provides financial backing for companies but also helps attract market attention and effectively boosts investor confidence [5]