恒逸石化股份有限公司回购股份（第六期）进展公告深度解析

要点摘要

• 回购方案及资金安排： 恒逸石化股份有限公司（证券代码：000703）于2026年1月22日董事会通过第六期回购股份方案，计划使用自有及自筹资金以集中竞价交易方式回购股份，回购资金总额不低于5亿元人民币、不超过10亿元人民币，回购价格不超过15元/股，回购期限为12个月。
• 回购进展： 截至2026年3月31日，公司已通过回购专用证券账户累计回购76,848,535股，约占公司总股本的2.01%。最低成交价为10.62元/股，最高成交价为14.02元/股，支付的回购总金额为9.597659亿元人民币（不含佣金和交易费用）。公司总股本因可转债转股有所增加。
• 合规性与交易安排： 回购行为完全符合深圳证券交易所及中国证监会相关规定，未在重大事项披露前等敏感时期进行回购，且回购价格及交易时段均符合监管要求。
• 后续安排与信息披露： 公司将根据市场情况继续实施回购，并承诺严格履行信息披露义务，提醒投资者理性投资。

投资者需关注的关键事项

• 回购股份数量与金额： 2.01%的回购比例已达较高水平，回购金额接近董事会设定的最高限额，反映公司对自身价值的高度认可。
• 股本变化： 由于可转债转股，公司总股本有所增加，回购比例计算已做相应调整，投资者需关注股本动态与潜在稀释效应。
• 回购价格区间： 回购价格区间（最低10.62元/股，最高14.02元/股）对股价形成一定支撑，尤其在回购价上限15元/股下，公司回购行为可能对市场股价有积极影响。
• 持续回购意向： 公司明确表示将在回购期限内继续实施回购，后续进展可能对股价形成进一步支撑。
• 合规性保障： 公司在回购操作中严格遵守交易所规定，规避敏感期回购等风险，有助于维护市场公平与投资者利益。

详细解读及潜在影响

本次回购进展公告显示，恒逸石化在2026年一季度已大规模回购股份，累计金额接近董事会设定上限。回购行为通常被市场解读为公司管理层对未来发展及当前市场价值的积极认可，或意在提升每股收益、增强市场信心。回购比例已达2.01%，为较高水平，且公司后续仍将继续回购，短期内可能对股价形成明显支撑。

需注意的是，公司总股本因可转债转股有所增加，投资者需关注股本动态及潜在稀释影响。同时，回购价格区间为10.62元/股至14.02元/股，回购价上限为15元/股，反映公司认为当前股价处于合理区间。公司严格遵守交易所规定，回购行为未在敏感期发生，合规性较强，减少了政策风险。

对于投资者而言，持续回购与高比例回购均是值得关注的利好信号，后续信息披露与回购进度可能继续影响公司股价表现。建议投资者密切关注公司公告与市场动态，理性评估投资风险。

免责声明

本文章仅为信息披露与投资参考，不构成任何投资建议。投资者应根据自身情况和风险偏好做出决策，并关注公司后续公告及市场变化。恒逸石化股份有限公司和本文作者不承担因投资决策所产生的任何法律责任。

Hengyi Petrochemical Co., Ltd. Share Repurchase Progress Announcement – In-depth Investor Analysis

Key Highlights

• Repurchase Plan and Funding: Hengyi Petrochemical (stock code: 000703) approved its sixth share repurchase plan on January 22, 2026, using self-owned and raised funds. The plan involves repurchasing shares via centralized bidding, with a total repurchase amount between RMB 500 million and RMB 1 billion, and a maximum repurchase price of RMB 15/share. The repurchase period is 12 months.
• Progress: By March 31, 2026, Hengyi Petrochemical had repurchased 76,848,535 shares (about 2.01% of total share capital) through its dedicated repurchase account. The lowest transaction price was RMB 10.62/share, the highest was RMB 14.02/share, and the total repurchase amount paid was RMB 959.7659 million (excluding commission and transfer fees). The total share capital increased due to convertible bonds conversion.
• Compliance & Trading Arrangements: The repurchase fully complies with Shenzhen Stock Exchange and CSRC regulations. No repurchases took place during sensitive periods, and all prices and trading windows meet regulatory requirements.
• Follow-up & Disclosure: The company will continue repurchases based on market conditions and pledges to fulfill information disclosure obligations, urging investors to invest rationally.

Key Points for Investors

• Repurchase Volume & Value: The repurchase rate (2.01%) is significant, and the amount is close to the board-approved upper limit, signaling management’s strong confidence in the company value.
• Share Capital Changes: Total share capital increased due to convertible bond conversions, which may impact per-share metrics — investors should monitor share capital dynamics and any dilution effects.
• Price Support: The repurchase price range (RMB 10.62–14.02/share, max RMB 15/share) provides a price floor, potentially supporting share prices.
• Ongoing Repurchase Commitment: The company will continue repurchases within the approved period, which may further support share prices.
• Compliance Assurance: Strict adherence to regulatory rules reduces policy risks and ensures fairness for investors.

Analysis & Potential Impact

Hengyi Petrochemical’s large-scale repurchase in Q1 2026, with a high repurchase ratio and amount near the upper board limit, signals strong management confidence and may boost earnings per share and market sentiment. Ongoing repurchase plans may further support share prices in the short term.

However, investors should note that total share capital has increased due to convertible bond conversions, which could dilute per-share metrics. The company’s repurchase price range indicates management’s view of current stock value. Strict compliance with exchange rules minimizes policy risk.

Overall, continued repurchases and high repurchase ratios are positive signals. Investors are advised to closely follow company announcements and market developments and assess risks rationally.

Disclaimer

This article is for information and reference only and does not constitute investment advice. Investors should make decisions based on their own situation and risk tolerance, and keep track of subsequent company announcements and market changes. Hengyi Petrochemical and the author do not assume any legal responsibility for investment decisions made based on this article.

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