Securities Times reporter Xiong Fei
Following the increase in the company's stock holdings in late May, the chairman of China Pacific Insurance has made another move recently.
Information shows that CPIC Chairman Kong Qingwei bought 21,800 CPIC H shares in the Hong Kong stock market on June 8, at a cost of about HK$411,600.Previously, Kong Qingwei had bought the company's shares twice in the A-share market in late May.
According to statistics from Securities Times reporters, since the beginning of the year, CPIC A+H shares have been increased by executives by a total of 287,900 shares.
Executives increased their holdings by 287,900 shares
On June 8, two CPIC executives bought a total of 42,400 CPIC H shares from the secondary market.
Among them, Kong Qingwei bought 21,800 H shares of the company at a cost of about HK$411,600.Previously, Kong Qingwei also bought a total of 28,800 shares of the company's A shares from the secondary market on May 23 and 24, at a total cost of 604,700 yuan.In just one month, Kong Qingwei has bought the company's shares three times.
Another executive who increased his stake in the company on the same day was Ma Xin, vice president of CPIC and chairman of Pacific Health Insurance, who bought 20,600 H-shares from the secondary market at a cost of about HK$389,300, which is already the sum of his money. This is the fourth time to buy shares in the company during the year.
CPIC President Fu Fan has increased his holdings of the company's H shares eight times this year, buying a total of 107,400 shares. The average purchase price range is HK$17.24 to HK$23.07 per share, and the total cost is about HK$2,138,600.In addition, Yu Bin, vice president of CPIC, has also increased his holdings of the company's H shares twice since the beginning of the year.
Since the beginning of this year, CPIC A+H shares have been increased by 287,900 shares by senior executives.
In addition to the frequent purchase of company shares by senior executives, CPIC shareholder Shanghai State-owned Assets and its concerted actors also increased their holdings of CPIC in the secondary market by a total of 96.2462 million shares from April 9, 2021 to May 20, 2022. As of 2022 On May 20, the shareholding ratio of CPIC reached 10.32%, an increase of 1% from April 8, 2021.
A number of listed insurance companies take action to protect the market
The increase in the holdings of CPIC executives is a microcosm of the listed insurance companies' efforts to protect the market.
Share repurchase is also an important measure for listed insurance companies to boost market confidence.As early as August 26, 2021, the Ping An Board of Directors meeting reviewed and approved the "Proposal on Reviewing the Repurchase of Company Shares". If there are funds, the A shares can be repurchased at a repurchase price not exceeding RMB 82.56 per share.
As of May 31, 2022, Ping An has repurchased about 103 million A shares through centralized bidding transactions, accounting for 0.56% of the company's total share capital, and the total amount of funds paid is 5 billion yuan (excluding transactions Fee), the lowest transaction price is 43.72 yuan/share, and the highest transaction price is 51.96 yuan/share.
AIA, which is listed on the Hong Kong stock market, is also frequently repurchasing shares.In March, AIA announced a $10 billion repurchase program, which it plans to return up to $10 billion in capital to the company's shareholders over the next three years by repurchasing the company's common stock on the open market.Since the beginning of this year, AIA has implemented over 50 repurchases.
Behind the frequent repurchases of insurance companies and the concentrated increase of executives' holdings of company stocks is the overall sluggish performance of insurance stocks since last year.Data show that CPIC A shares have fallen 21.50% this year, closing at 21.29 yuan on June 13.
At the recent CPIC 2021 shareholders meeting, CPIC Secretary Su Shaojun said that the performance of the secondary market share price is affected by many factors. Since last year, the overall performance of the insurance sector has not been very good, including repeated epidemics, macroeconomic slowdown, and geopolitical factors. Political tensions and their impact on market sentiment are also factors that the insurance industry itself is undergoing deep transformation and value remodeling.
Su Shaojun said at that time that from the perspective of CPIC's share price, the current valuation level is also at a historical low.Recently, the company's management has concentrated on increasing its holdings of the company's stocks, and the executives of its main subsidiaries have also increased their holdings of the company's stocks. On the one hand, it reflects the underestimation of the company's valuation level. firm confidence in development.
【Editor: Shao Wanyun】
