① A total of 1,468 A-share listed companies have implemented share buybacks within the year, with a cumulative repurchase amount exceeding RMB 137.5 billion; ② Midea Group tops the list with a repurchase amount of RMB 11.545 billion. See below for the ranking of A-share listed companies by repurchase amount this year (refer to the table).
According to Choice data, as of the time of writing, since 2025, 1,468 A-share listed companies have implemented share buybacks, with a cumulative repurchase amount of RMB 137.5 billion. (Editor: Li Chen)
In terms of the repurchase amounts by listed companies, 14 companies have repurchased more than RMB 1 billion each. These include Midea Group, Kweichow Maotai, CATL, XCMG Machinery, Muyuan Foods, COSCO Shipping Holdings, Wuxi Apptec, Hikvision, BOE Technology, SF Holding, Sanan Optoelectronics, Sany Heavy Industry, Guotai Haitong, and Haier Smart Home. Among them, Midea Group ranks first with a repurchase amount of RMB 11.545 billion. For more details, see the chart below:
Midea Group, with a total market value of RMB 610.1 billion and core businesses including smart home appliances, announced on December 8 that it had completed the repurchase of part of its issued A-shares through centralized bidding, with a repurchase amount reaching RMB 10 billion, hitting the upper limit of the repurchase plan. According to the repurchase plan, 70% or more of the repurchased shares will be used for cancellation and reduction of registered capital. The company has cumulatively repurchased 135 million shares, of which 95 million shares will be legally cancelled to reduce registered capital. The cancelled shares account for 1.24% of the total share capital before cancellation. Notably, this repurchase is not only the largest single share repurchase in Midea Group's history but also one of only two instances in A-share history where a single repurchase reached RMB 10 billion, second only to Gree Electric Appliances.
Kweichow Maotai, with a total market value of RMB 1.78 trillion and flagship product Maotai liquor, announced on November 6 that it plans to repurchase shares via centralized bidding, with a total amount of no less than RMB 1.5 billion and no more than RMB 3 billion at a repurchase price not exceeding RMB 1,887.63 per share. The repurchased shares will be used for cancellation and reduction of the company’s registered capital. Previously, on September 21, 2024, Kweichow Maotai announced its intention to repurchase shares worth between RMB 3 billion and RMB 6 billion for the same purpose. On August 29, 2025, Kweichow Maotai announced that it had completed the repurchase plan, having actually repurchased 3.9276 million shares, accounting for 0.3127% of the total share capital, with an actual repurchase amount of RMB 6 billion. Additionally, Kweichow Maotai announced on August 29, 2025, that its controlling shareholder, Maotai Group, plans to increase its stake in the company by purchasing shares worth between RMB 3 billion and RMB 3.3 billion over six months. On September 1, Maotai Group purchased 67,800 shares via centralized bidding.
CATL, with a total market value of RMB 1.79 trillion and recognized as a global leader in power battery systems, announced on December 2 that, as of November 30, 2025, it had cumulatively repurchased 15.9908 million A-shares via the Shenzhen Stock Exchange trading system through centralized bidding, representing 0.3628% of the company’s A-share total share capital as of the same date. The highest purchase price was RMB 317.63 per share, while the lowest was RMB 231.50 per share, with a total transaction amount of RMB 4.386 billion (excluding transaction fees). On December 10, CATL announced that it plans to register and issue bonds worth up to RMB 10 billion, which will be used for project construction, replenishment of working capital, repayment of interest-bearing liabilities, etc. The bond term will not exceed five years, and the issuance method will be a public offering underwritten by a syndicate using a residual underwriting model.
