2 1 Shi Ji Jing Ji Bao Dao·2025-11-06 13:57Core Viewpoint - The trend of share buybacks and capital increases has become a new normal in the capital markets, driven by a bullish stock market and supportive policies [2][4][8]. Group 1: Share Buyback Trends - Over 700 A-share companies have announced buyback plans this year, with a total buyback amount reaching 128.8 billion yuan [2]. - In the Hong Kong market, 241 companies have conducted buybacks, totaling approximately 146.67 billion HKD (about 134.34 billion yuan) [2]. - The combined buyback amount for A-shares and Hong Kong stocks exceeds 250 billion yuan [2]. Group 2: Major Companies Involved - Midea Group has the largest buyback scale, with a total buyback amount of 9.575 billion yuan, accounting for 1.7048% of its total share capital [4]. - Other notable companies include Kweichow Moutai with nearly 6 billion yuan in buybacks, CATL with 4.387 billion yuan, and XCMG with 3.066 billion yuan [4]. Group 3: Policy Support - The People's Bank of China has introduced a stock buyback and capital increase relending program with an initial quota of 300 billion yuan [6]. - As of November 5, 2024, 760 companies have disclosed buyback or capital increase loan support, with a total loan cap of 153.6 billion yuan [7]. Group 4: Hong Kong Market Insights - The top five companies in Hong Kong by buyback amount include Tencent Holdings, HSBC Holdings, and AIA Group, with Tencent leading at 60.97 billion HKD [11]. - The buyback activity in Hong Kong is primarily driven by technology and consumer sectors, similar to the A-share market [10][11]. Group 5: Market Outlook - Analysts expect that the buyback and capital increase activities will continue to rise, positively impacting investor sentiment and market stability [8][14]. - The Hong Kong market is seen as having significant valuation recovery potential, especially in the context of low interest rates and external liquidity [14].