Buyback 回购
The badges are our classification; the headline is the filing's own title.
标签为本站分类，标题为公告原文。
What This Means 这类披露的含义
These notes describe the category of disclosure in general.
以下说明针对这一类披露的一般情况。
The company is repurchasing its own shares for cancellation, for an incentive plan or to support the price.
公司回购自身股份，用于注销、股权激励或维护股价。
A buyback supports the shares and, if the stock is cancelled, lifts earnings per share. It is funded from cash, so it trades balance-sheet strength for that support.
回购对股价有支撑作用；回购股份若予以注销，还能提高每股收益。回购动用现金，相当于用资产负债表的实力换取这份支撑。
A holder's stake has crossed a disclosure threshold, or holders have formed, changed or ended an agreement to vote together.
股东持股比例触及披露门槛，或股东之间签订、变更或解除一致行动协议。
It shows who is building or reducing a position. A change among concert parties can shift control without a single share trading.
可以看出谁在增持、谁在减持。一致行动人之间的变化，无需一股成交就可能改变控制权。