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Express News | Shanghai International Airport Plans to Buy Back Company Shares Worth up to 530.3 Mln Yuan Within 12 Months
Shanghai International Airport (600009.SH) intends to repurchase 5.2543 million to 10.5085 million shares.
Shanghai International Airport (600009.SH) announced on July 22 that the company's share buyback will be used for later implementation of stock-based incentives. The number of shares to be repurchased is not less than 5.2543 million shares (inclusive) and not more than 10.5085 million shares (inclusive). The specific number of repurchased shares will be based on the actual number of shares repurchased when the buyback period expires. The total amount of funds that the company plans to use for the buyback is expected to not exceed RMB 0.53 billion yuan, and the maximum purchase price for the repurchase of shares is not more than RMB 50.46 yuan per share (inclusive).
Credit Suisse: maintains a 'hold' rating on China Tourism Group Duty Free Corporation with a target price of HKD 88.
Furui released a research report stating that it maintains a "hold" rating for China Tourism Group Duty Free Corporation (01880) with a target price of HKD 88, and is waiting for further clarification on the outlook for the second half of the year after the official release of the mid-term performance at the end of August. The company announced its first-half performance last Friday (the 12th), with second-quarter revenue and net profit of RMB 12 billion and RMB 0.982 billion respectively, a year-on-year decrease of 17% and 37%, and 34% and 37% lower than the bank's forecast, respectively. According to the report cited by the management, airport duty-free shop business is showing signs of recovery, with overall sales in the first half of the year more than doubling, and revenue from duty-free shops at Beijing and Shanghai international airports rising year-on-year.
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