金融政策 - 香港金管局计划在未来几个月内推出以贷款市场报价利率（LPR）为参考利率的合约 [1] - 香港金管局将进一步扩展离岸人民币回购业务，支持再质押和跨货币回购 [1] 基础设施建设 - 迅清结算（CMUOmniClear）将进行改善，预计相关措施将在8月底实施 [1]

Group 1 - The report by Goldman Sachs predicts that by the end of 2025, Chinese onshore and offshore listed companies will distribute a total of 3 trillion RMB in dividends, reaching a historical high [1][2] - In 2024, over 4,300 Chinese companies listed in mainland China, Hong Kong, and the United States are expected to distribute 2.7 trillion RMB in dividends, with a projected 10% increase to 3 trillion RMB in 2025 [2][3] - The increase in dividend payouts is largely driven by national policy guidelines encouraging companies to distribute dividends to enhance investor confidence, as outlined in the new "National Nine Articles" released in April 2024 [2][3] Group 2 - Following the implementation of the new "National Nine Articles," over 200 companies have distributed dividends for the first time since 2020, and 1,080 companies listed in mainland China paid interim or special dividends in 2024 [3] - The dividend payout ratio for Chinese listed companies reached 39% last year, up from 37% in 2023 and above the ten-year average of 31% [3] - Companies in traditional sectors such as finance, energy, telecommunications, and utilities are more likely to use dividends as a primary method of returning capital to shareholders [3] Group 3 - The report highlights that the current yield on 10-year Chinese government bonds has dropped to a record low of 1.64%, making generous dividend payouts from listed companies attractive to investors seeking higher returns compared to bonds [3] - It is noted that if listed companies allocate 10% of total cash expenditures to dividends or buybacks, it could enhance company valuations by 14% on average [3] - If the dividend payout ratio of Chinese listed companies reaches the average levels seen in Asia and Europe, the valuations of mainland Chinese stocks could increase by 15% to 25% over the next decade [3]

香港证监会：希望推动在香港建立离岸国债的商业回购市场 金十数据7月8日讯，香港证监会行政总裁梁凤仪在债券通周年论坛2025上表示，我们希望推动在香港建 立离岸国债的商业回购市场，更好地发挥离岸国债作为融资工具的使用，并促进离岸国债的二级市场交 易。一个完善的回购市场，将提高更广泛类型投资者参与离岸国债市场的积极性。 ...

欢迎进入链接网页右侧下载本周财经数据与事件精美周历壁纸：今日有1310亿元7天期逆回购到期、 澳 洲联储利率决议、美国6月纽约联储1年通胀预期。 相关链接 ...

Core Viewpoint - Since 2025, leading dairy companies Yili and Mengniu have both conducted significant share buybacks, with amounts exceeding 1.5 billion RMB each. The overall dairy industry is facing pressure due to oversupply and weakened demand, leading to declining profits for more than half of the companies in 2024 [1][10]. Industry Summary - The dairy industry in China has 28 listed companies in A and H shares, with over half experiencing a decline in both revenue and net profit in 2024 due to market conditions [1]. - In 2024, the top three dairy companies by revenue were Yili, Mengniu, and Bright Dairy, with total revenues of 1157.8 billion RMB, 886.75 billion RMB, and 242.78 billion RMB respectively, all showing a decline of over 8% year-on-year [4][6]. - The revenue of Yili decreased by 8.24% due to reduced sales volume and lower prices, while Mengniu's revenue fell by 10.1%, with its liquid milk segment dropping by 10.97% [4][8]. Company Performance - In 2024, nine dairy companies reported losses, accounting for over 30% of the sector, with Modern Dairy leading with a loss of 1.417 billion RMB. Modern Dairy also issued a profit warning, expecting a net loss of between 800 million to 1 billion RMB for the first half of 2025 [7]. - Among the 19 listed dairy companies, over 60% saw a decline in revenue in 2024, with 15 companies experiencing a drop in both revenue and profit [8]. - Bright Dairy's total revenue decreased by 8.33% to 242.78 billion RMB, with a net profit decline of 25.36% to 72.2 million RMB in 2024 [8]. Growth and Recovery - Seven dairy companies, including China Feihe, Beingmate, and Ausnutria, reported year-on-year growth in both revenue and net profit in 2024, indicating pockets of resilience within the sector [2][9]. - Beingmate achieved a revenue of 2.773 billion RMB in 2024, marking a growth of 9.7%, and a net profit increase of 116.92% [9]. Share Buyback Activities - Mengniu announced a share buyback plan worth up to 2 billion HKD, with 28.824 million shares repurchased at a cost of 454 million HKD as of July 2, 2025 [10][12]. - Yili completed a share buyback of approximately 40.54 million shares, representing 0.6368% of its total share capital, with a total expenditure of about 1.007 billion RMB [13][14]. - Beingmate also disclosed a share buyback plan with a budget of 150 million to 300 million RMB, although no shares had been repurchased as of June 30, 2025 [15].

登录新浪财经APP 搜索【信披】查看更多考评等级 证券时报记者 梁谦刚 2015年以来，A股市场经历深刻变革，随着各项制度完善，上市公司回购积极性提高、分红金额增长，同时，重要 股东净减持下降、退市力度加大，市场生态获得良性发展，投资者信心大幅提高。本文为《数说A股这十年》之市 场生态篇，从四大维度展现A股近十年变化，并探讨其背后驱动因素及未来趋势。 从2015年到2024年，在监管部门的政策引导和市场各方共同努力下，A股市场逐步建立起更加健康和可持续的发展 模式。数据显示，2024年A股市场回购规模突破1600亿元，现金分红总额接近2.4万亿元，退市公司数量创下历史 新高。通过这些数据，我们看到A股市场正在向着更加规范和成熟的方向前进。 回购从少数派到常态化 上市公司回购积极性提高是市场生态优化的重要标志。在A股市场的发展历程中，回购经历了从少数派到常态化的 跨越。据证券时报·数据宝统计，2015年至2017年，A股每年回购金额均未超过100亿元，且回购目的多为股权激 励。随着鼓励政策持续推出，回购逐渐成为上市公司稳定股价、维护股东利益的重要手段。 回馈市场意识持续增强 分红是市场生态健康与否的关键指标，也 ...

周一（7月7日），美联储隔夜逆回购协议（RRP）使用规模为2180.30亿美元，上个交易日（7月3日） 报2146.65亿美元。 ...

Group 1 - The company plans to repurchase its A-shares using a special loan and its own funds, with a total repurchase amount between RMB 200 million and RMB 300 million, and a maximum repurchase price of RMB 7.95 per share [2][4] - The repurchased shares will be used for employee stock ownership plans or equity incentives at an appropriate time in the future [2] - The repurchase period is set for six months from the date the board approves the repurchase plan [2] Group 2 - The 2024 dividend distribution plan involves a cash dividend of RMB 0.02 per share, based on a total share capital of 1,225,391,401 shares after excluding repurchased shares [4] - The record date for the dividend distribution is July 14, 2025, and the ex-dividend date is July 15, 2025 [4] - The total cash dividend amount is RMB 24,673,930, which will be distributed among the total shares [4] Group 3 - Following the dividend distribution, the maximum repurchase price will be adjusted from RMB 7.95 to RMB 7.93 per share [5] - The estimated number of shares to be repurchased is not more than 37,831,021 shares, which represents approximately 2.04% of the current total share capital [5] - The actual number of repurchased shares will be determined upon completion of the repurchase [5] Group 4 - The company will continue to implement the repurchase plan based on market conditions and will fulfill its information disclosure obligations in a timely manner [6]

深圳市英威腾电气股份有限公司公告(2025) 证券代码：002334 证券简称：英威腾 公告编号：2025-035 深圳市英威腾电气股份有限公司 公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 深圳市英威腾电气股份有限公司（以下简称"公司"）于 2024 年 4 月 17 日 召开第六届董事会第三十一次会议，于 2024 年 5 月 8 日召开 2023 年年度股东 大会，审议通过了《关于回购公司股份方案的议案》，公司计划使用自有资金通 过深圳证券交易所交易系统以集中竞价交易方式回购公司发行的人民币普通股 （A 股）股票，用于实施股权激励或员工持股计划。本次用于回购的资金总额不 低于人民币 6,000 万元（含），不超过人民币 10,000 万元（含），回购股份的 价格不超过人民币 8 元/股（含）。回购股份实施期限自公司股东大会审议通过 本 次 回 购 方 案 之 日 起 不 超 过 12 个 月 。 具 体 内 容 详 见 公 司 在 巨 潮 资 讯 网 （www.cninfo.com.cn）披露的《关于回购公司股份方案的公告》 《回购报告书》。 因实施 2 ...

Core Viewpoint - Sichuan Changhong Electric Co., Ltd. plans to repurchase its shares through a centralized bidding method, with a total repurchase fund of no less than RMB 250 million and no more than RMB 500 million, aimed at enhancing investor confidence and optimizing corporate governance [1][2][4]. Summary by Sections Repurchase Plan Overview - Total repurchase amount: RMB 250 million to RMB 500 million [1][4]. - Source of funds: Company’s own funds and a special loan for stock repurchase [1][7]. - Purpose of repurchase: For equity incentives [1][4]. - Maximum repurchase price: Not exceeding RMB 14 per share, which is 150% of the average trading price over the last 30 trading days prior to the board's decision [1][7]. Implementation Details - Repurchase method: Centralized bidding trading method [2][4]. - Repurchase period: From June 26, 2025, to June 25, 2026 [4][6]. - Estimated number of shares to be repurchased: Between 17,857,143 and 35,714,286 shares, accounting for 0.39% to 0.77% of the total share capital [4][6]. Financial Impact - The repurchase funds will account for approximately 0.25% to 0.50% of the company's total assets and 1.71% to 3.41% of the net assets attributable to shareholders [8]. - The company believes that the repurchase will not adversely affect its ongoing operations or financial capabilities [8]. Governance and Compliance - The board of directors has authorized the management to handle the repurchase within the approved framework [11]. - There are no plans for share reduction by major shareholders or executives in the next three to six months [2][10]. Future Adjustments - If the company undergoes significant changes such as capital increases or stock dividends, the repurchase quantity and price will be adjusted accordingly [6][7]. - Unused repurchased shares will be canceled if not utilized within 36 months after the repurchase [12].