Hongta Securities Co Ltd

Huachuang Yunxin disclosed a share buyback plan to support its stock price, proposing to repurchase between 100 million and 200 million yuan within three months, making it the sixth Shanghai-listed brokerage to announce a buyback plan since June. Within the past week, five brokerages—Huaan Securities, Guolian Minsheng, Hongta Securities, Zhongtai Securities, and Huachuang Yunxin—successively released buyback plans. Together with Guojin Securities from early June, the total proposed buyback and shareholding increase cap for Shanghai-listed brokerages amounts to no more than 1.26 billion yuan, with most funds earmarked for cancellation or price support. Huaan Securities plans to buy back between 100 million and 200 million yuan, Guolian Minsheng between 100 million and 200 million yuan, Hongta Securities between 50 million and 100 million yuan all for capital reduction, Zhongtai Securities between 100 million and 200 million yuan for capital reduction, and Guojin Securities between 150 million and 300 million yuan. Additionally, a major shareholder of Industrial Securities plans to increase holdings by between 30 million and 60 million yuan, and both Industrial Securities and Zheshang Securities have proposed interim dividend plans.

Changjiang Securities has become the fifth listed brokerage this week to unveil a share buyback plan. On the evening of July 22, Changjiang Securities announced it had received a proposal from Chairman Liu Zhengbin to repurchase A-shares using 100 million to 200 million yuan of its own funds. The move came after the company's share price fell by a cumulative 20.87 percent over 13 consecutive trading days from July 1 to 17, triggering conditions set out in Shenzhen Stock Exchange buyback guidelines. The repurchased shares will also be used for future employee stock ownership plans or equity incentives. Earlier this week, Guolian Minsheng Securities, Huaan Securities, Zhongtai Securities, and Hongta Securities had already disclosed buyback plans. The five brokerages' proposed repurchase amounts have a combined lower limit of 350 million yuan and an upper limit of 900 million yuan. This round of intensive buybacks by brokerages comes as industry earnings continue to recover, with many institutions optimistic that improving fundamentals and expectations of valuation repair in the brokerage sector will resonate with each other.

China Securities Regulatory Commission Chairman Wu Qing stated on July 20 that all efforts will be made to maintain stable market operations. On the same day, the three major A-share indices rallied sharply in late trading, with the Shanghai Composite Index and the ChiNext Index turning positive and the STAR Composite Index narrowing its losses. Over 3,700 stocks across the market declined, with total turnover reaching 2.7 trillion yuan, an increase of 47.2 billion yuan from the previous trading day. Full-day turnover of broad-based ETFs rose to 154.051 billion yuan, with three core products—the STAR 50 ETF from China Asset Management, the ChiNext ETF from E Fund, and the CSI 300 ETF from Huatai-PineBridge—together exceeding 61.4 billion yuan in turnover. Several central enterprises announced share increase and buyback plans. Three leading insurance institutions—PICC, China Pacific Insurance, and Ping An—successively expressed support for capital market development, while local state-owned capital platforms also joined the market stabilization efforts. The chairmen of Zhongtai Securities and Hongta Securities proposed share buybacks, and Bosera Funds announced it would invest 50 million yuan of its own capital in its equity public funds. Multiple listed companies disclosed interim dividend plans. Chang'an Huitong Group announced it had increased its holdings in several provincial state-owned listed companies through the secondary market and will continue to do so. Industry analysis suggests that broad-based ETFs saw inflows of 200 billion yuan over the past week, a record weekly high, and that market stabilization and a turnaround are not far off. The AI industry's prosperity remains intact, and after the correction, the market will return to a trajectory driven by earnings per share.

In just two days, four listed brokerages have successively disclosed share buyback plans. On July 20, Zhongtai Securities and Hongta Securities each announced that their chairmen had proposed repurchasing the companies' A-shares, intended for capital reduction, with the combined maximum buyback amount reaching 300 million yuan. A day earlier, Guolian Minsheng Securities and Huaan Securities also disclosed buyback plans or chairman proposals. Zhongtai Securities Chairman Wang Hong proposed using proprietary funds to buy back shares worth 100 million to 200 million yuan, while Hongta Securities Chairman Jing Feng proposed a buyback of 50 million to 100 million yuan. Guolian Minsheng Securities plans to repurchase 100 million to 200 million yuan worth of shares, and Huaan Securities Chairman Zhang Hongtao proposed a buyback of 100 million to 200 million yuan. All four brokerages stated that the buybacks aim to safeguard company value and shareholder interests, and to bolster investor confidence.

China Pacific Insurance, Ping An Insurance, and other insurers have stated they will increase equity allocations and act as patient capital. Zhongtai Securities and Hongta Securities announced share buyback plans, while Bosera Funds declared it will invest 50 million yuan in equity funds. Meanwhile, multiple listed companies including Flush, Chint Electrics, Hikvision, Juhua Group, and Shanghai Airport announced interim dividend plans. China Pacific Insurance said it will continue investing in stocks and ETFs in sectors such as technology growth, consumer, and new energy. Ping An Insurance stated it will boost investment in strategic emerging industries and advanced manufacturing. Zhongtai Securities plans to buy back shares worth 100 million to 200 million yuan, and Hongta Securities plans to buy back shares worth 50 million to 100 million yuan. Flush plans a cash dividend of 2 yuan per 10 shares, Chint Electrics plans 0.5 yuan per 10 shares, Hikvision plans 5.50 yuan per 10 shares, Juhua Group plans 2.20 yuan per 10 shares, and Shanghai Airport's controlling shareholder proposed raising the 2026 interim cash dividend payout ratio to around 55 percent.