回购100亿元至少注销70亿元 美的集团回报股东的“作业”值得抄

Core Viewpoint - Midea Group has successfully completed a share buyback of 10 billion yuan, acquiring 135 million A-shares, with 95 million shares to be canceled, representing 1.24% of the total share capital before cancellation [1] Group 1: Share Buyback Details - The buyback amount of 10 billion yuan corresponds to 135 million shares, with 95 million shares set for cancellation [1] - Midea Group's buyback accounted for 115.45 billion yuan of the total 1,406 billion yuan spent on buybacks by over 1,400 A-share listed companies this year [1] - The company's stock price reached a new high since February 19, 2021, on December 4, indicating the effectiveness of the buyback in enhancing shareholder value [1] Group 2: Characteristics of Share Buybacks - Share buybacks are characterized by companies exchanging cash for shares, reducing the number of circulating shares, which has a direct and rapid impact on stock prices [1] - The funds from buybacks flow from the company to the capital market, improving overall market liquidity and signaling confidence in future growth [1] - The effectiveness of buybacks is maximized by the company's sincerity, with Midea Group's 10 billion yuan buyback serving as a reference for other companies [1] Group 3: Long-term Value Creation - The intrinsic value of shares does not change with buybacks; only after cancellation do metrics like net asset per share and earnings per share increase, enhancing share value [2] - Most buybacks are not for cancellation but for purposes like equity incentives or market management, with some companies later selling repurchased shares at a profit [2] - Companies should focus on cancellation-style buybacks to genuinely create long-term value for shareholders, avoiding short-term speculative strategies [2] Group 4: Implementation of Buyback Plans - Companies should adopt a proactive approach to buybacks, completing them within the committed timeframe, as demonstrated by Midea Group's swift execution of its buyback plan [3] - The buyback price ranged from 69.91 yuan to 80.62 yuan per share, indicating a high-price buyback strategy [3] - A significant number of companies have announced buyback plans, but many have executed minimal buybacks, suggesting a reluctance to act until stock prices reach perceived "buy points" [3]