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 share-based incentive plan, or an employee shareholding plan.
股权激励计划或员工持股计划。
Incentives align management with shareholders but dilute them and carry a compensation charge. The vesting targets indicate what insiders expect the company to achieve.
激励使管理层与股东利益一致，但会摊薄股东权益并产生股份支付费用。业绩考核目标反映了内部人对公司业绩的预期。