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Mindray Performed 1 Billon CNY Stock Repurchase in Two Days

2021/9/3 18:28:52 Views:281


On Sep. 2nd, according to the announcement on the implementation results of share repurchase and share changes issued by Mindray, as of September 1, 2021, the company's repurchase plan has been completed. 3,048,662 shares have been repurchased accounting for 0.2508% of the total share capital of the company, and the maximum transaction price is 335.00 yuan / share. The lowest transaction price is 316.18 yuan / share, and the total amount paid is 99,990,786.17 yuan (including transaction expenses). Through stock repurchase, positive information is transmitted to the market, which is conducive to stabilizing the company's stock price, reducing the company's free cash flow and the agency cost of management.


On August 25, Mindray released the performance announcement for the first half of 2021. During the reporting period, the company achieved an operating revenue of 12.778 billion yuan, an increase of 20.96% over the same period of the previous year. The total profit was 4.916 billion yuan, an increase of 25.18% over the same period last year. The net profit attributable to shareholders of listed companies was 4.344 billion yuan, an increase of 25.79% over the same period of last year. In the first half of the year, the performance exceeded expectations and the routine business recovered rapidly. To a certain extent, some medical companies benefited from the impact of the epidemic last year. Therefore, after the COVID-19 period, it is really good job for Mindray to perform well.


The repurchase plan of Mindray was disclosed on August 26 and completed on September 1, which took only one week. However, on August 31, Mindray implemented share repurchase for the first time. In fact, it completed a repurchase transaction of 1 billion yuan in only two trading days! There are two reasons for company's repurchase. The first reason is that the company is optimistic about its own development after the stock price plummeted. The second is the repurchase will boost the share price. Therefore, investors tend to be more cautious about repurchase activity. The share repurchase implemented by Mindray shows growth confidence. The company has significant advantages in three business segments, leading domestic market scale, clearing international growth path in the future, and well-performance growth. Under the environment of new medical infrastructure pattern, Mindray will promote its continuous cultivation in the global medical market in the future.