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。
The company is issuing new shares or convertibles, such as a private placement, a targeted issue, a rights issue or a convertible bond.
公司发行新股或可转换证券，如定向增发、向特定对象发行、配股或可转债。
Raising equity brings in capital but dilutes existing holders. Whether it helps them depends on the price, the terms and what the proceeds are spent on.
股权融资能补充资本，但会摊薄现有股东。对股东是否有利，要看发行价格、条款以及募集资金的用途。