Stock price does not give force health yuan Hao throw 300 million repurchase

Who is most dissatisfied with the "Falling" stock price? Investors, institutions, or controlling shareholders? Today, Health yuan (600380, closing price 10.98 yuan) A paper announcement let everyone know, the original listed companies are not satisfied. With the view that "the value of the company's investment is grossly underestimated", the health yuan proposed a rare repurchase scheme in the A-share market, with the maximum planned for 300 million yuan. In this respect, GF Securities and pharmaceutical industry analyst 杨挺 said, in general, the company repurchase shares will have a positive impact on the share price.　　Because the repurchase of shares will be cancelled, which is equivalent to the reduction of total corporate equity, will increase the earnings per share and net assets yield, shareholders will gain more rights.　　Buy back plan broken cocoon and out of January 14, health Yuan suddenly issued a notice, because of the planning of major matters, the company's shares since January 14 suspension, triggered a wide range of market speculation, and the mystery finally in today (January 18) When the announcement, its content is not most people's surprise.　　Health Yuan announced today that in the next 12 months, the company intends to repurchase the company part of the social public shares through SSE, the repurchase price does not exceed 12.00 yuan/share, the repurchase shares are not more than 25 million shares (currently 1.32 billion shares), the total amount of capital spent not more than 300 million yuan. When it comes to repurchase purposes, health yuan's stance is also a big surprise, said in recent years through continuous reform and innovation, operating capacity to improve steadily, the rapid growth of profitability, and the recent company's share price in the securities market has continued to fall, price performance and the company's intrinsic value is extremely inconsistent, the company's investment value is seriously underestimated.　　Therefore, the company intends to repurchase part of the shares in order to enhance public investors confidence in the company, and further enhance the value of the company to achieve maximum shareholder benefits. To stimulate the share price one personage in the industry said that the current a-share market more frequent overweight, is the shareholders to buy shares of listed companies, and the repurchase behavior of listed companies, the purchase of shares from the market after the cancellation, this situation is very rare.　　In other words, if the health yuan were to spend $300 million to buy back the shares of the company, the shares would eventually disappear, so such a deal would not be a significant benefit to a listed company or even a "loss-making" deal. Data show that as at the end of the third quarter of 2010, the Health yuan money balance amounted to 1.104 billion yuan, 300 million yuan repurchase funds equivalent to 27.17% of the money and 4.29% of the total assets. But the health Yuan said the use of repo funds would not affect the cash demand for the company's operations, and would increase the company's earnings per share by about 1.93% and the return on net assets by about 1.37% (estimated last year's third-quarter performance data).　　In the disclosure of repurchase scheme at the same time, health Yuan also published performance letters, 2010, the company achieved net profit of 746 million yuan, an increase of 53.47%, the earnings per share of 0.57 yuan. "The main effect may be on short-term stock prices," he said. "A voucherBusiness Analyst evaluation, because the company before the suspension of the stock price of 10.98 yuan/share, the company's price limit for repurchase prices is 12 yuan/share, significantly higher than the current share price, in addition to the company similar "the company's investment value is seriously underestimated" position, and just released the performance letters, is clearly in the market to send positive signals. He also suggested that investors should pay more attention to the performance of listed companies than the short-term stimulus of repurchase schemes. In addition, the specific implementation of the listed company repurchase plan is worthy of investors ' attention. In 2008, the Audio Holdings (000829, close to 11.50 yuan) had proposed a repurchase scheme, but eventually because the repurchase shares significantly lower than the market expectations of the market to suffer a cold shoulder.