On December 11, Poly Development (SH600048) announced that the company intends to buy back shares with 1 billion yuan to 2 billion yuan to maintain the value of the company and shareholders' rights and interests, and the buyback price does not exceed 15.19 yuan/share. At the same time, the company's real controller Poly Group plans to increase the company's A-share shares through centralized bidding trading in the next 12 months, the amount of the increase is not less than 250 million yuan, not more than 500 million yuan, and the price of the increase is not more than 15.19 yuan/share.

It is reported that Poly Development Holding Group Co., Ltd. referred to as Poly Development Holding Co., Ltd. was established in 1992, is a large listed company held by China Poly Group. The company is a large enterprise group focusing on real estate development and sales. By the end of 2022, the total assets of the company are 1,470.464 billion yuan, and the company ranks 243rd in the world by Forbes in 2023.

As of the closing of A shares on December 11, Poly Development's share price fell 1.64% to 9.61 yuan/share, with a total market value of 115.036 billion yuan.

On December 10, A shares ushered in a wave of buybacks. According to incomplete statistics of listed company announcements, as of press release (20 PM on December 10),

A shares ushered in a wave of buybacks. According to incomplete statistics of listed company announcements, as of 20 PM on December 10, 35 listed companies issued a buyback plan or a suggestive announcement of senior executives' proposal to repurchase, with a total amount of 1.348 billion yuan to 2.605 billion yuan. In addition, one company announced the total amount of additional share repurchase funds. In terms of shareholders' increased holdings, as of press release, 12 companies have issued announcements related to shareholders' increased holdings, of which 10 are plans for new shareholders to increase their holdings, and the minimum amount of additional holdings is about 193 million yuan.

According to Securities Daily, market participants believe that the occurrence of listed companies' intensive disclosure of buyback announcements once again fully demonstrates the confidence of major shareholders and executives in the long-term healthy development of the company and the recognition of the value of the company, which helps to boost market confidence and has the role of short-term "protection".

It is worth noting that in recent months, A number of A-share listed companies have issued repurchase or increase announcements. The previous largest round was in mid-October this year, and a number of central enterprises issued announcements to buy back and increase their holdings. In mid-October, Baosteel, CoSCO Offshore, Sinopec, China Mobile and other companies disclosed that they had increased their holdings or repurchased shares.

The Daily Economic News reporter noted that different from the previous round in mid-October, the scale of companies that intensively issued buybacks or increased holdings on the weekend of December 10 was relatively small. According to incomplete statistics, the average market value of more than 40 companies that issued repurchase or increase announcements on December 10 is about 10 billion yuan, the largest is about 85 billion yuan, and the smallest is about 1.9 billion yuan, of which the vast majority of companies with a market value below 10 billion yuan are accounted for.