Core Viewpoint - China COSCO Shipping Holdings Co., Ltd. (中远海控) plans to repurchase between 50 million to 100 million A-shares and subsequently cancel them, aiming to enhance shareholder value and restore investor confidence as the stock price is below its net asset value per share [2][5][10]. Repurchase Plan - The repurchase will be conducted through centralized bidding, with a maximum price of CNY 14.98 per share, estimating a total repurchase amount between CNY 749 million to CNY 1.498 billion [2][9]. - The shares repurchased will be fully canceled, reducing the registered capital of the company [9][10]. - The repurchase is expected to occur within three months from the board's approval date [8][9]. Financial Context - As of June 30, 2025, the company reported total assets of CNY 498.497 billion and net assets attributable to shareholders of CNY 232.062 billion, with cash and cash equivalents amounting to CNY 169.143 billion [10]. - The planned repurchase amount represents approximately 0.30% of total assets, 0.65% of net assets, and 0.89% of cash and cash equivalents [10]. Recent Performance - In the first half of 2025, the company achieved revenue of CNY 1,090.99 billion, a year-on-year increase of 7.78%, and a net profit attributable to shareholders of CNY 175.36 billion, up 3.95% [16]. - However, the second quarter saw a decline in revenue and net profit, attributed to fluctuating global shipping demand and geopolitical tensions affecting the market [16]. Dividend Policy - The company plans to distribute a cash dividend of CNY 0.56 per share (before tax) to all shareholders, totaling CNY 8.674 billion, maintaining a dividend payout ratio of around 50% [16].

| may and | | | | | | HI THE LEAD THE | | --- | --- | --- | --- | --- | --- | --- | | 港(1919):12.000(+0.33%) | | | H/A:-24.17% | 行情分析 | | 深度分析 | | 委比 | -24.25% 委差 | | -7745 | 主力流入 | | 53256 万元 | | 卖五 | 14.49 | 3531 | | 主力流出 | | 52486 万元 | | 卖四 | 14.48 | 3314 | | 主力净流入 | | 769 万元 | | 英三 | 14.47 | 1550 | | | | | | 卖二 | 14.46 | 1976 | | (万元) | 流入 | 流出 | | 卖一 | 14.45 | 9472 | | 超大 | 18215 | 19030 | | 浙 | 14.44 | 1033 | | 大单 | 35041 | 33456 | | 买二 | 14.43 | 1819 | | 中東 | 41843 | 42471 | | दों = | 14.42 | 2584 | ...

Core Viewpoint - China COSCO Shipping Holdings Co., Ltd. (中远海控) plans to repurchase between 50 million to 100 million A-shares and subsequently cancel them, aiming to enhance shareholder value and restore investor confidence as the stock price is below its net asset value per share [1][3][5]. Summary by Sections Repurchase Plan - The company announced a share repurchase plan on October 13, with a maximum repurchase price set at 14.98 CNY per share, estimating a total repurchase amount between 749 million to 1.498 billion CNY [1][3][4]. - The repurchase will be conducted through centralized bidding and is expected to occur within three months from the board's approval [3][4]. Financial Position - As of June 30, 2025, the company reported total assets of 498.497 billion CNY and net assets attributable to shareholders of 232.062 billion CNY, with cash and cash equivalents amounting to 169.143 billion CNY [5]. - The planned repurchase amount represents approximately 0.30% of total assets, 0.65% of net assets, and 0.89% of cash and cash equivalents [5]. Recent Performance - In the first half of 2025, the company achieved revenue of 109.099 billion CNY, a year-on-year increase of 7.78%, and a net profit attributable to shareholders of 17.536 billion CNY, up 3.95% [9]. - The second quarter of 2025 saw a revenue decline of 3.39% year-on-year, with net profit down 42.25% compared to the previous year, attributed to fluctuating global shipping demand and tariff policy changes [9]. Shareholder Returns - The company plans to distribute a cash dividend of 0.56 CNY per share for the first half of 2025, totaling 8.674 billion CNY, maintaining a dividend payout ratio of around 50% [9].

Core Insights - The company has been actively repurchasing its shares, with a total of 3.07 million shares bought back on October 13 at a price range of HKD 3.150 to HKD 3.300, amounting to HKD 9.9625 million [2] - Since September 29, the company has conducted share buybacks for nine consecutive days, totaling 15.38 million shares and a cumulative amount of HKD 49.3976 million, during which the stock price increased by 2.85% [2] - Year-to-date, the company has executed 32 buyback transactions, repurchasing a total of 69.2552 million shares for a total expenditure of HKD 170 million [3] Buyback Details - On October 13, the company repurchased 307,000 shares at a maximum price of HKD 3.300 and a minimum price of HKD 3.150, with a total buyback amount of HKD 996.25 thousand [3] - The buyback activity includes various dates with specific details such as the number of shares repurchased, maximum and minimum prices, and total amounts spent [3][4] - The highest single-day buyback occurred on June 9, with 1,268,800 shares repurchased at a price of HKD 3.130, totaling HKD 3.91015 million [3]

格隆汇10月13日丨中远海控(601919.SH)公布，本次回购为维护公司价值及股东权益所必需，本次回购 的股份将全部注销并减少注册资本；拟回购A股股份数量总额为5,000万股至1亿股，依照A股回购价格 上限人民币14.98元/股测算，预计A股回购金额为人民币7.49亿元~人民币14.98亿元，实际使用的回购金 额以后续实施情况为准，A股股份回购价格不超过人民币14.98元/股（含）。 MACD金叉信号形成，这些股涨势不错！ ...

Core Viewpoint - The company, Jiuan Medical (002432.SZ), announced a share repurchase plan with a total funding amount between 300 million RMB and 600 million RMB, aimed at maintaining company value and shareholder rights [1] Group 1: Repurchase Details - The maximum repurchase price is set at 53.5 RMB per share, which could allow for the repurchase of approximately 11,214,953 shares, representing about 2.41% of the company's total share capital, if the upper limit of the funding and price is utilized [1] - If the lower limit of the funding is used, the company could repurchase approximately 5,607,477 shares, accounting for about 1.21% of the total share capital [1] - The repurchase plan is within the authority of the board of directors and does not require shareholder meeting approval, with a maximum implementation period of three months from the board's approval date [1] Group 2: Financial Arrangements - The company has secured a loan commitment from Shanghai Pudong Development Bank, Tianjin Branch, for a maximum amount of 500 million RMB, which will cover up to 90% of the total repurchase transaction [1] - The loan has a term of no more than 36 months [1]

来源：上海证券报·中国证券网 上证报中国证券网讯（记者 骆民）富士莱公告，公司拟使用自有资金通过集中竞价交易方式回购公司 股份，并在未来适宜时机用于股权激励计划或员工持股计划。本次回购股份资金总额不低于2000万元且 不超过4000万元，回购价格不超过40元/股。 ...

Core Viewpoint - Wangneng Environment Co., Ltd. has announced an adjustment to the upper limit of its share repurchase price due to the implementation of its 2024 annual equity distribution plan [1][4]. Group 1: Share Repurchase Overview - On November 26, 2024, Wangneng Environment's board approved a share repurchase plan using self-owned funds and special loan funds, with a maximum repurchase price set at 22.00 yuan per share and a total repurchase amount between 100 million yuan and 200 million yuan [2]. - The upper limit of the repurchase price was adjusted from 22.00 yuan to 21.71 yuan per share due to the implementation of the 2024 annual equity distribution [2][4]. Group 2: Equity Distribution Details - From July 31, 2025, to October 10, 2025, the company's total share capital increased from 433,984,137 shares to 433,984,982 shares due to convertible bonds conversion, adding 845 shares [3]. - The company will distribute a cash dividend of 2.00 yuan per 10 shares (including tax), totaling 84,904,216.40 yuan, with no bonus shares or capital reserve transfers [3]. - The record date for the equity distribution is October 20, 2025, and the ex-dividend date is October 21, 2025 [3]. Group 3: Adjusted Repurchase Price Limit - The new upper limit for the repurchase price, effective from October 21, 2025, is calculated as 21.71 yuan minus the cash dividend per share of 0.1956386 yuan, resulting in an adjusted price of approximately 21.51 yuan per share [4]. - If the upper limit of the repurchase amount is 200 million yuan, approximately 9.298 million shares (2.14% of total shares) are expected to be repurchased; if the lower limit is 100 million yuan, approximately 4.649 million shares (1.07% of total shares) are expected [4].

Core Viewpoint - Suzhou Nearshore Protein Technology Co., Ltd. has announced an extension of its share repurchase plan by six months, now set to conclude on April 13, 2026, while other aspects of the repurchase plan remain unchanged [1] Summary by Sections Share Repurchase Plan Overview - On September 26, 2024, the company held its second board meeting and subsequently approved a share repurchase plan during the third extraordinary general meeting of shareholders on October 15, 2024. The plan involves using self-owned funds to repurchase a portion of its issued ordinary shares (A-shares) through centralized bidding on the Shanghai Stock Exchange. The repurchase price will not exceed 30.68 yuan per share, with a total repurchase fund of no less than 10 million yuan and no more than 20 million yuan, to be completed within 12 months from the approval date [2] Reasons for Extending the Repurchase Period - Since the approval of the repurchase plan, the company has actively pursued the repurchase. However, due to various factors such as market conditions, stock price fluctuations, funding arrangements, and trading windows, it is anticipated that the repurchase plan cannot be completed within the original timeframe. The company has decided to extend the repurchase period to maintain long-term sustainable operations and protect the long-term interests of all shareholders [3] Impact on the Company and Decision-Making Process - The extension of the share repurchase period will not have a significant impact on the company's financial status, production operations, or future development. It also does not harm the interests of the company or its shareholders, particularly minority shareholders. On October 13, 2025, the company convened its second board meeting to approve the extension of the repurchase period. Since the third extraordinary general meeting of shareholders in 2024 had already authorized the board to handle related matters, no further shareholder approval is required for this extension [4]

Core Viewpoint - Company believes that its current stock price does not reflect its true value, prompting a new share buyback plan to enhance market value and protect shareholder interests [1] Group 1: Share Buyback Plan - Company plans to use its own funds and a special loan for share buyback, with a total amount between 300 million yuan (approximately 43 million USD) and 600 million yuan (approximately 86 million USD) [1] - The buyback price will not exceed 53.5 yuan per share [1] - Company has secured a loan commitment of up to 500 million yuan (approximately 72 million USD) from Shanghai Pudong Development Bank, covering up to 90% of the total buyback amount [1] Group 2: Market Context - As of October 13, the company's stock closed at 38.19 yuan per share, with a total market capitalization of 17.75 billion yuan (approximately 2.55 billion USD) [1] - The stock price has fallen below the company's latest net asset value per share, indicating a disconnect between market valuation and intrinsic value [1]