China603662.CG▲
Nearly 100 Shanghai-listed companies send strong positive signals with buybacks, increased holdings, and upbeat earnings
On the evening of July 20, nearly 100 companies listed on the Shanghai Stock Exchange disclosed a flurry of positive news, covering buybacks, increased holdings, upbeat earnings, interim dividends, and long-term insurance capital investment. On that day, 16 companies announced new buyback plans with a combined upper limit of 4.5 billion yuan, and 9 companies announced new shareholding increase plans with a combined upper limit of 6.875 billion yuan, bringing the total to 11.375 billion yuan. Another 30 companies released progress updates on buybacks and increased holdings. On the semi-annual earnings front, 15 Shanghai-listed companies reported positive results. Shanghai International Port Group expects a net profit attributable to shareholders of approximately 8.47 billion yuan for the first half, up about 5.35 percent year-on-year. Shanghai Electric expects a net profit of 920 million to 1 billion yuan, up about 12 to 22 percent. Putailai expects a net profit of 1.4 billion to 1.5 billion yuan, up 32.66 to 42.14 percent. Jihua Group achieved a net profit of 474 million yuan, surging 1,272.52 percent. Bank of Chongqing posted a net profit of 3.518 billion yuan, up 10.28 percent. Ten companies disclosed interim dividend plans. The controlling shareholders or chairmen of six companies—Chint Electrics, Yiwu China Commodities City, Industrial Securities, Juhua Group, Hualu Hengsheng, and Hundsun Technologies—proposed interim dividends. The controlling shareholder of Shanghai Airport proposed raising the interim dividend payout ratio. Several companies' shareholders pledged not to reduce holdings or terminated reduction plans early. For example, the controlling shareholder and actual controller of Keli Sensing voluntarily committed not to reduce holdings, and Bethel Automotive announced that its shareholder did not reduce holdings and terminated the reduction plan early. In the insurance sector, China Pacific Insurance, Ping An Insurance, and New China Life Insurance expressed firm support for capital market development, vowing to leverage the advantages of insurance funds, adhere to long-term and prudent investment principles, support the cultivation of new quality productive forces, act as patient capital in the market, and firmly implement profit distribution policies by optimizing dividend frequency and carrying out interim dividends to enhance shareholder returns.