Changjiang Securities joins share buyback wave, five brokerages announce plans this week with combined upper limit of 900 million yuan

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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.

Impact on stocks 5

Others▲ · 5 stocks
Huaan Securities Co Ltd
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▲ PositiveCapitalrelevance

Huaan Securities announced a share buyback plan, signaling confidence and supporting share price.

Hongta Securities Co Ltd
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▲ PositiveCapitalrelevance

Hongta Securities announced a share buyback plan, signaling confidence and supporting share price.

Guolian Securities Co Ltd
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▲ PositiveCapitalrelevance

Guolian Minsheng Securities announced a share buyback plan, signaling confidence and supporting share price.

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