On 24 September 2024, the China Securities Regulatory Commission (“CSRC”) announced guidelines that demand listed companies to manage their share prices.

In particular, Mr. Wu Qing, CSRC’s chairman, emphasized the importance of creating value for shareholders “endlessly” (源源不断地) through dividends and share buybacks.

He demanded that listed companies should establish regular, long-term share buyback programs.

He also urged companies that trade below net asset value to make “value enhancement plans” and disclose its results.

The State-owned Assets Supervision and Administration Commission of the State Council (“SASAC”), which oversees the China Merchants Group, will also increase the weight of “market capitalization management” as a KPI.

We, Argyle Street Management, urge China Merchants China Direct Investments (CMCDI, 133 HK) to listen to CSCR and SASAC, to buy back shares and implement a discount management program.   

Read our proposal to find out how.

If you are new to CMCDI, read our primer.

Chat with us on WeChat or WhatsApp:

💬 WeChat ID: ASM_Argyle

💬 WhatsApp ID: +852 6317 6371

🖥️ UnlockValueChinaMerchants.com

📧 ChinaMerchants@asmhk.com


2024年9月24日,中国证监会宣布其已制定上市公司市值管理的指引。

特别的是,中国证监会主席吴清强调,上市公司应当综合运用包括分红、回购等方式“源源不断地”回报投资者。

吴主席要求上市公司应该建立常态化的回购机制安排。

吴主席亦要求长期破净公司(即每股交易价格低于净资产)应该制定“价值提升计划”,并公开披露实施效果。

作为招商局集团的监管机构,中国国务院国资委也在加大对“市值管理”的考核力度。

我们,Argyle Street Management,呼吁招商局中国基金(133 HK)应当听从证监会及国务院国资委的要求,回购股份及制定折价管理计划。

具体操作,可以阅读我们的提案

如果您刚开始了解中国基金,请阅读我们的指南

欢迎随时与我们联系:

💬 微信: ASM_Argyle

💬 WhatsApp: +852 6317 6371

🖥️ UnlockValueChinaMerchants.com

📧 ChinaMerchants@asmhk.com

2 responses to “⭐ CSRC: listed companies should pay dividends and buy back shares “endlessly” / 中国证监会: 上市公司应“源源不断地”分红及回购”

  1. […] after the China Securities Regulatory Commission (CSRC) published guidelines that demand listed companies to manage their share prices, China Merchants Expressway […]

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  2. […] after the China Securities Regulatory Commission (CSRC) published guidelines that demand listed companies to manage their share prices, China Merchants Expressway […]

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