The Shanghai and Shenzhen Stock Exchanges issued the "Detailed Rules for the Repurchase of Listed Companies"
In order to give full play to the system function of share repurchase, further standardize the behavior of listed companies to buy back shares, and earnestly safeguard the legitimate rights and interests of investors, the Shanghai and Shenzhen Stock Exchanges formulated the “Detailed Rules for the Repurchase of Listed Companies”, which is now released and released from the date of publication. Acting.
Headline article
A shares to prevent "improper arbitrage" and "flickering" repurchase! Add a number of reduction restrictions Repurchase new regulations officially implemented

50 days after the publication of the draft for comment, the official draft of the A-share repurchase will be implemented. On the evening of January 11, the Shanghai and Shenzhen Stock Exchanges successively issued the official draft of the implementation rules for the share repurchase of listed companies (hereinafter referred to as “the official draft”), and announced that they will be implemented from the date of publication. ...[Details]

Related reports
The exchange rules have officially landed. Share repurchase opens a new era

With the release of the “Repurchase Rules” of the Shanghai and Shenzhen Stock Exchanges, together with the “Implementation Measures for the Repurchase of Listed Companies of the National SME Share Transfer System” issued by the National SME Share Transfer System, the multi-level capital market shares were returned. The purchase system was closed in a closed loop, and a new era of share repurchase was officially opened. ...[Details]

The Shenzhen Stock Exchange revised the repurchase rules in six aspects and made strict regulations on reducing the repurchased shares.

According to the spokesperson of the Shenzhen Stock Exchange, the revision of the share repurchase system has given listed companies more autonomy, which has made the company more convenient and market-oriented in terms of maintaining company value, safeguarding shareholders' rights and implementing long-term incentive mechanism. The choice is conducive to improving the quality of listed companies, optimizing the investor return mechanism, and promoting the healthy and stable development of the capital market. ...[Details]

Shanghai Stock Exchange listed companies repurchase shares implementation rules (full text)

In order to guide and regulate the behavior of listed companies to buy back shares, safeguard the order of the securities market, and protect the legitimate rights and interests of investors and listed companies, in accordance with the "Company Law", "Securities Law", "Opinions on Supporting Listed Companies to Repurchase Shares" (hereinafter referred to as "Opinions" "), "On the serious study and implementation<全国人民代表大会常务委员会关于修改《中华人民共和国公司法》的决定>These Rules are formulated in accordance with the relevant provisions of the Notice (hereinafter referred to as the “Notice”) and the “Stock Listing Rules of the Shanghai Stock Exchange”. ...[Details]

Buy back a new chart to understand! The scale of repurchase, use, reduction of restrictions, etc. are clearly "improper arbitrage" is blocked

The Shanghai Stock Exchange said that the repurchase to maintain the company's value and shareholders' rights is a "semi-passive" repo in a special case, which is different from the repurchase in other situations. Allowing the sale of the repurchased shares under this circumstance can provide them with more flexible market-oriented means, which will help these companies to better balance the capital repurchase and production and operation capital requirements in an emergency. Try to encourage the necessary system for share repurchase. ...[Details]

Repurchase of shares for sale, reduction during repurchase, and flicker repurchase

The revision of the "Repurchase Rules" on the one hand, by increasing the share repurchase situation, broadening the source of repurchase funds, and appropriately simplifying the implementation procedures, paving the way for more flexible and convenient implementation of share repurchase by listed companies; The emergence of violations, such as "flicker repurchase", etc., to build a dual prevention mechanism combining market constraints and regulatory interventions, ultimately promote the formation of long-term, win-win and sustainable market mechanisms. ...[Details]

The repurchase plan needs to be clearly defined. Four new restrictions on reductions must be made within 3 months.

The "Repurchase Rules" allows listed companies to sell the shares that have been repurchased. Some feedbacks and media reports worry that the practice of hiding arbitrage space will cause the company to buy low and sell high, and breed problems such as controlling stock prices and profit-making stocks. Purchase shares shall be cancelled and not sold. However, there are also many opinions that in order to open up the institutional space for repurchase, the repurchased shares should be allowed to circulate in the secondary market, but special instructions and restrictions are required. ...[Details]

The repurchase rules officially landed! Four highlights, to prevent "flicker repurchase"! More than 300 companies have repurchased

From the official version, the rules in this part are further tightened. The new or revised regulations include: the funds obtained from the reduction of the holdings are used for the company's main business, and the holding period before the reduction is extended from 6 months to 12 months, any 90 days. The reduction must not exceed 1%. And the "contradictory" repurchase has further strengthened the letter of the letter. ...[Details]

Shanghai Stock Exchange: Preventing and Seriously Investigating and Using the Repurchase to Implement Benefit Transfer

The relevant person in charge of the Shanghai Stock Exchange said that it will strengthen the self-regulation of repurchase, prevent and seriously investigate and deal with violations and regulations such as profit transfer, insider trading, market manipulation, etc., and give full play to the positive effect of the new share repurchase system to promote capital market stability. healthy growth. ...[Details]

A-share repurchase boom continues to be staged in the first week of the new year 20 companies repurchase

In 2019, the A-share repurchase boom continued. In the first week of the opening year, 20 A-share companies have disclosed large-scale repurchase shares. The analysis believes that a large amount of repurchase funds are still on the road, and will be the peak of repurchase in the next few months. The repurchase plan with a total amount of tens of billions of yuan has entered the implementation stage. ...[Details]

12.57%! The stock with the highest repurchase rate in the history of A shares came. Last year, the stock price fell more than 46%.

Last Friday night, China Nuclear and Titanium, which fell more than 46% last year, announced that it plans to buy back shares in a centralized bidding transaction (the second phase). The total amount of the repurchase is not less than RMB 500 million, and does not exceed RMB 1 billion, the repurchase price does not exceed 5 yuan / share, the implementation period of the repurchase shares is no more than 12 months from the date of consideration and approval of the repurchase plan by the general meeting of shareholders. ...[Details]

Thousands of individual stocks set off a wave of repurchase

The industry believes that although the relationship between the share repurchase and the short-term trend of the stock price is difficult to determine, the emergence of the A-share repo will represent an increase in the willingness to bargain-hunting of industrial capital. If you choose this stock, you should first pay attention to the fundamentals of individual stocks, and at the same time evaluate the company's willingness to buy back and repurchase ability. ...[Details]

14 companies disclosed the repurchase plan in the opening year, the total repurchase amount exceeded 10 billion yuan

In the year of 2019, the enthusiasm for A-share repurchase has not diminished. As of yesterday, a total of 14 companies disclosed share repurchase plans during the year. The total repurchase amount is expected to be 10.833 billion yuan. ...[Details]

The biggest repurchase of A shares: more than 50 billion repurchased shares

The repurchase of the New Deal by the regulatory authorities has given rise to an unprecedented phenomenon. In 2018, the A-share repurchase scale exceeded 50 billion yuan, a record. The number of listed companies that implemented repurchase in the whole year accounted for more than 20%, and private enterprises became the main force of repurchase. ...[Details]

TCL Group Announces Repurchase Plan: Proposed Repurchase of 1.5 Billion to 2 Billion Shares in 1 Year

TCL Group (000100) released a repurchase plan on the evening of January 10, intending to use its own funds, self-raised funds and other financing methods to repurchase the company's shares in a centralized bidding transaction. The total amount of repurchase is not less than RMB 1.5 billion ( Contains) and does not exceed RMB 2 billion (inclusive). ...[Details]

Buy back the real hammer! The new regulations require that the repurchase limit be no less than half of the upper limit. At least 81.2 billion repurchase funds must be admitted.

According to the statistics of Chinese brokers of securities companies, since October, a total of 168 listed companies have issued repurchase plans or repurchase plans through the shareholders' meeting, based on the upper limit of repurchase amount, the cumulative repurchase amount reached 52.668 billion yuan. ...[Details]

The share repurchase is a major positive! Shanghai and Shenzhen Exchanges launched the implementation rules overnight

In general, the rules give listed companies more autonomy and improve the ease of implementation of share repurchase. For example, repurchase preconditions are no longer set for partial repo situations. Second, enrich the source of repurchase funds. ...[Details]

Authorities to interpret the repurchase! Is the controversy resale and reselling controversial? Supervision will impose the most stringent restrictions

A stone provoked a thousand layers of waves. Yesterday (23rd) evening, the Shanghai and Shenzhen Stock Exchange issued a draft of the implementation rules for the repurchase of listed companies, causing market discussions. One of the more discussed issues is the institutional arrangement that the company can sell after repurchasing shares. ...[Details]

Heavy repurchase benefits finally landed! Repurchase shares can be sold. The amount or amount of repurchase must be clear. The transaction should control the rhythm!

The "Repurchase Rules" is a more flexible and convenient implementation of the share repurchase of listed companies, paving the way for the repurchase of listed companies. ...[Details]

Heavy! The repurchase policy is loose! Clarify the five major institutional arrangements. There are three major conveniences in operation.

Tonight, the Shanghai and Shenzhen Stock Exchanges issued a draft of the implementation rules for the repurchase of listed companies, requiring listed companies to improve the company's articles of association and internal rules and regulations, regulate the information disclosure and decision-making procedures for repurchased shares, and open the system for share repurchase. space. ...[Details]

Stock market impact
Late at night, the strongest repurchase in history! The CSRC joins hands with the fiscal state capital: 10 core initiatives to benefit these stocks (list)

The three ministries and commissions jointly issued the "Opinions on Supporting the Repurchase of Shares by Listed Companies" (referred to as "Opinions"), which will be implemented as of the date of promulgation. The contents of the Opinions include broadening the sources of repurchase funds, appropriately simplifying the implementation procedures, guiding and improving governance arrangements, and encouraging various listed companies to implement equity incentives or employee stock ownership plans. ...[Details]

Rare three ministries and big moves! Maintenance stock price exceeded expectations to support repurchase! Meet the two indicators first, 26 financial stocks benefit the most to look at the eight key points

The "Opinions on Supporting Listed Companies Repurchasing Shares" jointly issued by the China Securities Regulatory Commission, the Ministry of Finance, and the State-owned Assets Supervision and Administration Commission ("Opinions") broadened the sources of repurchase funds, appropriately simplified the implementation procedures, guided the improvement of governance arrangements, and encouraged various types of listings. The company implements equity incentives or employee stock ownership plans to promote the company's valuation basis. ...[Details]

A share repurchase tide! The repurchase limit is over 125 billion! A number of companies announced another announcement tonight, three major repo data sets a record

On the evening of the 11th, a number of listed companies issued repurchase announcements. Honghui Xincai, Fuxiang Co., and Wanda Information announced the repurchase plan. The repurchase plan of Xiongyi was approved by the shareholders meeting, and Century Huatong released the first time. Announcement of the purchase of shares, on the 9th through the collective bidding cost of 213 million yuan, repurchase 10.757 million shares. ...[Details]

Repurchase tide on market influence geometry

The share repurchase has undoubtedly become a hot topic in the recent A-share market. Under the influence of the new share repurchase policy, the enthusiasm for the share repurchase of A-share listed companies has suddenly increased, and even the rush of share repurchase has gradually formed. ...[Details]

Share repurchase upgrade Strong support stock price stability

Last Friday (October 26), the Sixth Session of the Standing Committee of the 13th National People's Congress deliberated and approved the Standing Committee of the National People's Congress on amendments.<中华人民共和国公司法>The Decision of the "Revision Decision" (a) is a special modification of the provisions of Article 142 of the Company Law concerning the repurchase of shares of the company. ...[Details]

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