China Electronics Technology Group Corporation (CETC), Contemporary Amperex Technology Co., Limited (CATL), and several listed companies under the China Merchants Group have announced stock repurchase plans in quick succession, strengthening market confidence in listed companies, with amounts exceeding 10 billion RMB (6.122 billion MYR).
The CETC official WeChat account posted at midnight on the 8th, stating that CETC, based on firm confidence in the long-term positive trend of China's economy and actively fulfilling its commitments to the capital market, has completed repurchasing over 2 billion RMB (1.224 billion MYR) worth of its listed company stocks.
On Monday evening, CATL announced that it plans to use no less than 4 billion RMB (2.449 billion MYR) and no more than 8 billion RMB (4.898 billion MYR) of its own or raised funds to repurchase some shares through centralized bidding transactions, to be used for equity incentive plans or employee stock ownership plans.
Seven listed companies under the China Merchants Group collectively issued announcements before the market opened on Tuesday, planning to accelerate the implementation of stock repurchase plans to protect shareholder rights, consolidate market confidence in listed companies, and enhance the investment value of listed companies.
Haier Smart Home announced that its directors and senior management plan to increase their holdings of the company's shares using their own funds through collective bidding, with an expected cumulative amount between approximately 20.85 million and 41.7 million RMB (12.7644 million to 25.5289 million MYR).
Dichloromethane Chemical's chairman proposed a stock repurchase plan with an amount ranging from 300 million to 500 million RMB (184 million to 306 million MYR). Guodian Nari Technology's chairman Shan Shewu proposed to use funds ranging from 500 million to 1 billion RMB (6.122 billion MYR) to repurchase some shares.