Major buybacks put spring back in A shares' step

A-share market investor confidence will be boosted and bourse performance will be buoyed amid record performance among listed companies' buyback plans, said experts.

According to market tracker Wind Info, over 1,900 A-share companies have announced their share buyback plans as of Monday. Among them, more than 1,600 companies have already carried out repurchases, with the total buyback value amounting to over 96.4 billion yuan ($13.3 billion), hitting a record and overtaking the full-year figure of 91.4 billion yuan seen in 2023.

A large number of industry giants have conducted share buybacks this year. Tongwei Group, the world's largest solar silicon provider, announced in late April a buyback plan of between 2 billion and 4 billion yuan. Video surveillance firm Hangzhou Hikvision Digital Technology released in April a repurchase plan of over 2.89 billion yuan while dairy giant Inner Mongolia Yili Industrial Group announced in late May it would repurchase no more than 2 billion yuan of its shares. Biotech company Wuxi AppTec and logistics giant SF Express have each announced 1-billion-yuan buyback plans twice so far this year.