The most popular Chenming paper will launch the B-

2022-08-03
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Chenming paper has made an announcement that it will launch the B share repurchase plan to complete the 45million ton annual target share repurchase plan ahead of schedule. Analysts said that this year, the A-share market has been in a continuous downturn, the price difference between a and B shares of relevant companies has been narrowing, and listed companies have frequently repurchased B shares. On September 21, Chenming paper said that the board of directors of the company planned to repurchase B shares. Trading of company a and B would be suspended for one week from September 21 and resumed after the announcement of relevant matters. At present, the details of the repurchase have not been finalized

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the total share capital of Chenming paper is 2.062 billion shares, including 557million B shares and 391million H shares. As of the closing on the 20th, Chenming B closed at HK $2.71 per share. If the company repurchases all B shares, it will need to use about HK $1.5 billion, equivalent to about RMB 1.2 billion. From the financial situation, as of the end of the first half of the year, the company had 3.578 billion yuan of monetary capital in its accounts. According to the valuation of Chenming B, it closed at HK $2.71 per share on September 21, while the net asset per share was HK $7.42, and the price to book ratio was only 0.36 times, which was quite underestimated. Analysts said that the implementation of B-share repurchase at this time could, on the one hand, improve earnings per share by reducing circulating shares; On the other hand, under the current market environment, the stock price is low, which is a good time to implement the B-share reform or cancel the B-share

about Chenming

Shandong Chenming Paper Group Co., Ltd. is a large enterprise group mainly engaged in pulping and papermaking. It is the first listed company in China with three stocks, a, B and lightweight design, which put forward a lot of new requirements for the utilization of plastic materials. It has more than 40 subsidiaries, including Wuhan Chenming, Chenming thermoelectricity, Qihe Chenming, Zhanjiang Chenming, Jiangxi Chenming, Yanbian Chenming and Jilin Chenming. With a total assets of more than 40 billion yuan and an annual paper production capacity of 4million tons, it has entered the top 500 Chinese enterprises and the top 50 paper companies in the world. It has been rated as one of the top 100 listed companies in China and one of the 50 most competitive blue chip companies in China. The Chenming trademark has been recognized as a well-known trademark in China

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