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Source: China Fund News
Ventaylor
Beneficial One
Yili Shares It is planned to buy back shares with 1 billion yuan - 2 billion yuan and cancel them
The white horse Yili shares were enlarged, and the shares were repurchased and all of them were cancelled!
On the evening of the 20th, Yili Shares announced that it planned to buy back the company's shares at a price of 1 billion yuan to 2 billion yuan, and the buyback price would not exceed 41.88 yuan per share (inclusive). All the shares bought back would be cancelled and the company's registered capital would be reduced according to law.
In addition, according to the profit distribution plan, Yili Shares will distribute a cash dividend of 12 yuan (tax included) per 10 shares to all shareholders, totaling 7.639 billion yuan, an increase of 1.018 billion yuan over the previous year, accounting for 73.25% of the company's net profit attributable to the parent company in 2023.
According to public data, Yili has distributed dividends 24 times since its listing in 1996, with a total dividend of 50.859 billion yuan.
Earlier, on April 12, the State Council issued several opinions on strengthening supervision and risk prevention to promote high-quality development of the capital market. The suggestion is to promote listed companies to improve their investment value. Formulate market value management guidelines for listed companies. Research on incorporating the market value management of listed companies into the internal and external assessment and evaluation system of enterprises. Guide listed companies to cancel their shares according to law after they buy back their shares. Encourage listed companies to focus on their main businesses, and comprehensively use M&A, restructuring, equity incentives and other ways to improve the quality of development. Strictly crack down on market manipulation, insider trading and other illegal activities in the name of market value management according to law.
In the minds of shareholders, the buyback and cancellation is the most positive. From the perspective of mature overseas markets, the company's buyback and cancellation of shares is the key force for the rising stock price. Unlike the majority of repurchases previously used for equity incentive or employee stock ownership, the repurchase cancellation mode not only supports the share price, but also reduces the denominator, improving the performance level of listed companies, which will be another confidence support for ordinary investors to hold shares for a long time.
Favorable two
Goldman Sachs raised CSI 300 Index To 4100
When A-share rebounded to a new high this year, foreign Goldman Sachs began to sing more!
On May 20, according to the latest stock strategy report of Goldman Sachs Research Department, the MSCI China Index has soared by 31% since it hit a year low on January 22, becoming the best performing stock market in the world in the past three months. The CSI 300 Index also rose 16% from its low point before the Chinese New Year, leading most developed and emerging markets during this period.
Goldman Sachs believes that the economy is resilient, and the macro, housing and capital market policy support factors have made the Chinese stock market perform strongly. At the same time, Goldman Sachs raised the 12-month target of the MSCI China Index from 60 to 70, and the CSI 300 Index from 3900 to 4100, maintaining an "overweight" rating on A-shares and an "overweight" rating on TMT (technology, media, communications) industries.
In addition, on May 19, Eric Shen and Qiying Wei, Goldman Sachs analysts, released a report on A-share power battery giants Ningde era First coverage report for. Goldman Sachs gave Ningde Times a buying rating in the report, with a 12-month target price of 304 yuan, which means that there is about 50% room for growth compared with the current price.
Analysts believe that the market underestimated the outstanding competitive advantage, battery profitability and market position of Ningde Times. Compared with its competitors, Ningde Times battery has higher energy density and reliability, which brings advantages of low cost and high premium, making Ningde Times have a leading level of gross profit per unit in the industry.
In addition, analysts also believe that the Ningde Times can still maintain its comparative advantage in global competition. Even if the European and American forces drive the self-sufficiency of the battery industry, the global market share of the Ningde Times will only decline slightly. Moreover, the price war in China's automobile market is not expected to challenge the profitability of Ningde Times.
US equities rose
In the US stock market, the three major indexes rose tonight, and the Nasdaq rose 0.6%.
In terms of China Concept stocks, the stock price of Ideal Auto "rolled over" and plummeted by more than 10%!
On the news side, compared with the fourth quarter of last year, the performance of Ideal Auto in the first quarter of this year dropped significantly.
Ideal Auto announced its first quarter financial report as of March 31, 2024. The financial report data shows that the revenue of Ideal Auto in the first quarter was 25.6 billion yuan, and the market expected 25.58 billion yuan, a year-on-year increase of 36.4%, a month on month decrease of 38.6%, the slowest growth in the first quarter in the past three years.
In terms of gross profit, the ideal automobile gross profit was 5.3 billion yuan, up 38.0% year on year and down 46.0% month on month; The gross profit margin was 20.6%, compared with 20.4% in the same period last year, a decrease of 2.9 percentage points month on month, mainly due to the decrease in gross profit margin of vehicles.
In addition, the operating profit in the first quarter of this year was - 580 million yuan, and the operating profit margin was - 2.3%. Compared with the fourth quarter of last year, the performance of the first quarter of this year dropped significantly. In the fourth quarter of last year, the operating profit of Ideal Auto was 3 billion yuan, and the operating profit margin was 7.3%. Cash reserves decreased from 103.67 billion yuan at the end of 2023 to 98.9 billion yuan in the first quarter of this year, and free cash flow was - 5.1 billion yuan.
Market analysis shows that the profit of the ideal car under the price war has dropped significantly, while the new model MEGA has not shouldered the heavy burden, and the sales volume does not meet the expectations, which is the direct reason for affecting the performance. At the same time, the industry competition intensifies, bringing more pressure to the ideal.
In addition, Li Xiang, CEO of Ideal Auto, said at the first quarter financial report conference that Ideal Auto would not release pure electric SUV products this year, but would postpone the release to the first half of next year.
For the second quarter of this year, the performance guidance given by Ideal Auto is: the revenue is expected to be 29.9 billion yuan to 31.4 billion yuan, and the delivery volume is expected to be 105000 to 11000 vehicles. However, the market had previously estimated the delivery of about 130700 vehicles in the second quarter.
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