Real money boosts confidence as several leading A-share industry giants announce buyback plans

Wind data shows that as of 20:00 on April 6, a total of 116 listed companies in China’s A-share market have released a new round of share repurchase plans. Among them, 77 companies will use the repurchased shares to implement equity incentive schemes or employee share ownership plans, while 18 will use them for market value management. Among the listed companies that have already carried out repurchases, companies such as Shunfeng Holding, GoerTek, Hengyi Petrochemical, Wen’s Co., Zijin Mining, and Luxshare Precision are among those with leading repurchase amounts.

116 Companies Announce Repurchase Plans

The 116 listed companies that issued new rounds of share repurchase plans have announced that the total number of shares to be repurchased is approximately 2.99B shares. Of these, 75 listed companies had already started repurchases after releasing their repurchase plans earlier in the year.

Some industry-leading companies have clearly stated that the repurchases will be used for cancellation.

Taking BOE Technology Group as an example, the company recently announced that it plans to repurchase shares using self-raised funds; the capital amount for the shares to be repurchased is not less than 500 million yuan and not more than 1 billion yuan. The repurchase price will be no more than 6 yuan per share. The type of repurchased shares will be the company’s A-share shares already issued. All repurchased shares will be used for cancellation and to reduce the company’s registered capital.

Some industry-leading listed companies have proposed upper limits for repurchase amounts exceeding 1.68B yuan.

Taking Midea Group as an example, on March 30, the company held the 13th meeting of the fifth session of its board of directors, where it approved the “Plan to Repurchase the Company’s A Shares by Means of Centralized Competitive Bidding.” The company agreed to repurchase some of its A-share stocks issued domestically by means of centralized competitive bidding for implementing an equity incentive plan and/or an employee share ownership plan. The repurchase amount will not exceed 13 billion yuan and will not be less than 6.5 billion yuan. The implementation period will be within 12 months from the date the board’s resolution approving the repurchase plan is passed.

Leading Companies Accelerate Repurchases

Recently, multiple listed companies have disclosed repurchase progress externally, drawing market attention.

On the evening of April 2, Zijin Mining announced that in March 2026, through centralized competitive bidding, it cumulatively repurchased 53.0301 million shares, accounting for 0.20% of the company’s total share capital. The highest purchase price was 33.69 yuan per share, and the lowest was 29.82 yuan per share. The cumulative amount paid was 794.2k yuan (excluding transaction fees). This repurchase complies with relevant laws and regulations and the established plan requirements. The company will continue to implement the repurchase within the repurchase period according to market conditions.

Previously, on March 20, Zijin Mining held the second meeting of the ninth session of its board of directors, which approved the resolution on the “Plan to Repurchase A Shares of the Company by Means of Centralized Competitive Bidding.” The company agreed to use its own funds to repurchase the company’s A shares through centralized competitive bidding. The total repurchase funding will be no less than 1.5 billion yuan (inclusive) and no more than 2.5 billion yuan (inclusive). The upper limit repurchase price will be 41.5 yuan per share (inclusive). The implementation period for this repurchase will be no more than 12 months from the date the board of directors approves the repurchase plan.

In the evening of April 2, Kweichow Moutai announced that as of the end of March 2026, the company had cumulatively repurchased 794.2k shares, accounting for 0.0634% of the total share capital, and had cumulatively paid 1.11B yuan (excluding transaction fees).

Previously, on November 28, 2025, Kweichow Moutai held its 2025 first extraordinary general meeting of shareholders, which approved the “Plan to Repurchase the Company’s Shares by Means of Centralized Competitive Bidding.” On December 25, 2025, it disclosed the “Repurchase Report on the Company’s Shares Repurchased by Means of Centralized Competitive Bidding.” The company will use its own funds to repurchase shares by means of centralized competitive bidding for the purpose of cancellation and reducing registered capital. The repurchase price will not exceed 1,863.67 yuan per share (inclusive). The repurchase amount will be no less than 1.5 billion yuan (inclusive) and no more than 3 billion yuan (inclusive). The implementation period will be within 6 months from the date the company’s shareholders’ meeting approves the repurchase plan.

Adjustments to Repurchase Prices and Purposes

It is worth noting that many listed companies recently announced adjustments to the repurchase price and repurchase purpose.

On the evening of April 6, Shenma Power publicly released an announcement regarding adjusting the upper limit of the repurchase share price. The announcement shows that, to ensure the successful implementation of this repurchase plan, the upper limit price for the repurchased shares in this round was adjusted from no more than 38 yuan per share (inclusive) to no more than 95 yuan per share (inclusive). The adjusted upper limit repurchase price is no higher than 150% of the average share trading price of the company’s stock over the 30 trading days prior to the board resolution. As of now, the company has cumulatively repurchased shares through centralized competitive bidding, accounting for 1.8480% of the company’s total share capital. The total amount of funds paid is approximately 237 million yuan.

Prior to this, Shenma Power had announced that on July 29, 2025, the company held the 29th meeting of the fifth session of its board of directors, which approved the “Resolution on a Plan to Repurchase the Company’s Shares by Means of Centralized Competitive Bidding.” The total repurchase funding will be no less than 300 million yuan (inclusive) and no more than 400 million yuan (inclusive). The repurchase price will be no more than 38 yuan per share (inclusive). The repurchase period will be within 12 months from the date the board approves this repurchase plan.

Tongxing Electronics previously disclosed an announcement regarding adjusting the upper limit of the share repurchase price and the purpose of the repurchase. The announcement shows that, for ensuring the smooth implementation of this repurchase plan, in order to effectively convey positive signals to the market, and to enhance investors’ confidence in the company, the company will adjust the upper limit repurchase price to 40 yuan per share (inclusive), which is no more than 150% of the average share trading price of the company’s stock over the 30 trading days prior to the board resolution. The adjustment to the upper limit repurchase price will take effect after approval by the board of directors. At the same time, the purpose of the repurchased shares will be adjusted from using all of them for employee share ownership plans to: the total funding for the employee share ownership plan will be no less than 143.5 million yuan and no more than 287 million yuan; the total funding for cancellation and reducing registered capital will be no less than 6.5 million yuan and no more than 13 million yuan. The adjustment to the purpose of the repurchased shares still needs to be submitted for deliberation and approval at a shareholders’ meeting.