股票回购问题研究–以伊利股份为例

北京理工大学珠海学院2020届本科生双学位毕业论文Research on Stock Repurchase--Taking Yili Shares as an ExampleAbstractThe first stock repurchase case taken place in China in the 1990s.Afterwards,stockrepurchases have been day by day used in China's capital markets.In 2015,China's stockmarket suffered serious stock calamities,and many companies suffered huge losses.In Julyof the same year,Yili Group The company's stock price was severely undervalued and theinterests of the company and the shareholders were declared to implement the sharerepurchase.In the announcement,Yili Group planned to use 1 billion yuan of its own fundsto repurchase a shares of the company's circulating shares.The repurchase is by far thelargest repurchase in China.As one of the leading enterprises in China's dairy industry,YiliGroup enjoys an extremely high reputation and popularity among many dairy companies inChina.Researching its repurchase behavior can be implemented for other listed companiesin China Stock repurchases provide some references.Based on the above considerations,this article first understands the Yili Group companyprofile,then analyzes the company's stock repurchase background,process and motivation,and uses case analysis to study the economic consequences and financial effects of YiliGroup's stock repurchase.The following conclusions are drawn through the above analysis,in a short period of time,Yili Group's stock repurchase has an important positive impact onits solvency,operating capacity and profitability,but in the long term,these effects have notlasted for a long time.It shows that the stock repurchase can only temporarily alleviate theproblems existing in Yili Group and cannot fundamentally improve the company's operatingconditions.Finally,some personal suggestions are proposed for the problems existing inChina's current stock repurchase in combination with the case.Keywords:stock repurchase;Yili stock;repurchase motivation;economic consequences;financial effects