Comprehensive Analysis of Multiple Financial Market Events on January 15, 2026

I will systematically analyze multiple financial market events on January 15, 2026 and their impacts for you based on the searched information.

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• Operation Scale:
  900 billion yuan outright reverse repo
• Tenor:
  6 months (181 days)
• Net Injection:
  300 billion yuan (600 billion yuan matures in January, with 900 billion yuan rolled over)
• Operation Method:
  Fixed quantity, interest rate bidding, multi-price winning bids
• Continuity:
  The 6-month outright reverse repo has been rolled over with increased volume for the 5th consecutive month, and the central bank has injected medium-term liquidity for the 8th consecutive month[1][2][3]

1. Liquidity Support:
   The increased volume of this operation is 100 billion yuan higher than last month, creating a favorable liquidity environment for the early-year government bond issuance and credit “strong start”[2].

2. Policy Intent:
   • Ensure funding needs for major projects in key areas
   • Consolidate and expand the momentum of economic recovery
   • The 2026 new local government debt quota has been issued in advance, and a certain scale of government bonds will be issued in January
   • After the launch of the 500 billion yuan new policy-based financial tool in October 2025, supporting loans continue to amplify the “strong start” effect[1][3]

3. Expert Opinion:
   Wang Qing, Chief Macro Analyst of Orient Jincheng, pointed out that this operation sends a signal of continued strengthening of quantitative policy tools, indicating that the monetary policy maintains a supportive stance[1]

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• Time:
  3:00 PM, Thursday, January 15, 2026
• Host:
  State Council Information Office
• Speakers:
  Zou Lan, Spokesperson and Deputy Governor of the People’s Bank of China; Li Bin, Spokesperson and Deputy Administrator of the State Administration of Foreign Exchange
• Theme:
  Effectiveness of Monetary and Financial Policies in Supporting High-Quality Development of the Real Economy[4]

• Concrete implementation of the “moderately accommodative” monetary policy stance for 2026
• Coordinated use of liquidity regulation tools (outright reverse repo, MLF, etc.)
• Specific policy measures to support the real economy

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• Unlocking Scale on the Day:
  2.827 billion yuan
• Stocks with Unlocked Shares:
  6
• Unlocked Share Volume:
  164 million shares

Rank	Stock Code	Stock Name	Unlocked Share Volume (10,000 shares)	Unlocked Market Value (100 million yuan)
1	002011	DunAn Environment	13,900	18.04
2	920029	Kaifa Technology	669.33	6.11
3	002202	Goldwind Science & Technology	1,140.90	3.31

• Restricted share unlocking means restricted shares can be traded on the secondary market, theoretically increasing stock supply
• The actual impact needs to be comprehensively judged based on the company’s fundamentals, shareholders’ willingness to reduce holdings, and the overall market environment
• Some high-quality enterprises, due to their promising long-term development prospects, can effectively absorb the potential selling pressure brought by share unlocking[5]

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• Number of Companies Conducting Buybacks:
  1,494 listed companies implemented share buybacks
• Total Buyback Amount:
  142.736 billion yuan
• Number of Companies with Share Increases:
  Shareholders of 534 listed companies issued share increase announcements
• Upper Limit of Share Increase Amount:
  83.922 billion yuan
• Relending for Share Buybacks and Increases:
  522 listed companies disclosed relevant information, with an upper limit of 111.165 billion yuan for the loan amount
• Full-Year Total Scale of Buybacks and Increases:
  226.658 billion yuan[6]

• Midea Group:
  2025 buyback amount reached 11.545 billion yuan (the only enterprise with buyback exceeding 10 billion yuan for the year)[6]
• Kweichow Moutai:
  Cumulative buyback amount in 2025 reached 6 billion yuan
• 293 enterprises had buyback amounts exceeding 100 million yuan, and 15 enterprises had buyback amounts exceeding 1 billion yuan[6]

Company	Buyback Status	Amount/Percentage
Huayuan Holdings	As of January 12, 4.5747 million shares repurchased, accounting for 1.36% of total share capital	56.54 million yuan
Nanshan Aluminum	No less than 300 million yuan, no more than 600 million yuan	300-600 million yuan
Kuang-Chi Technologies	Continued promotion of buyback plan	-

Industrial capital conveys firm confidence in the intrinsic value and long-term development of China’s capital market through share buybacks and increases[6]

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• Full-Year Cash Dividends:
  2.55 trillion yuan (a record high)
• Dividend-to-Financing Ratio:
  Twice the scale of IPOs and refinancings in the same period
• Chen Huaping, Vice Chairman of the China Securities Regulatory Commission:
  Disclosed at the 30th China Capital Market Forum on January 11[7]

Company	Dividend Plan	Ex-Date
Foxconn Industrial Internet	RMB 0.33 per share (including tax), totaling 6.55 billion yuan	January 16
Forsun Pharmaceutical	RMB 0.15 per share (including tax), totaling 65.86 million yuan	January 16

Company	Record Date	Dividend Plan
Foran Energy Group	January 14	RMB 2.5 per 10 shares (including tax)
Guangdong Mingzhu Co., Ltd.	January 14	RMB 0.20 per share (including tax)
Luzhou Laojiao	-	RMB 13.58 per 10 shares (including tax), totaling approximately 2 billion yuan
China Huadian New Energy	-	Special dividend: RMB 0.3 per 10 shares, totaling 1.251 billion yuan

• Interim dividends, quarterly dividends, special dividends and other methods are gradually becoming popular
• Forsun Pharmaceutical has established a “three-dividend” mechanism (annual dividend + interim dividend + special dividend)[7]

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Event Type	Short-Term Impact	Medium-Term Impact
Central Bank Reverse Repo	Abundant liquidity, favorable for market funding	Supports real economy, stabilizes market expectations
Policy Press Conference	Clarifies policy expectations	Defines policy direction, enhances market confidence
Restricted Share Unlocking	Increases individual stock supply	Limited impact on high-quality stocks
Share Buybacks and Increases	Incremental funds enter the market	Conveys value signals, stabilizes valuations
Dividend Record Dates	Creates buying opportunities through ex-dividend and ex-rights	Strengthens value investment philosophy

1. Liquidity Environment:
   The central bank maintains reasonably sufficient liquidity through comprehensive operations of outright reverse repo and MLF, providing solid support for the market.

2. Policy Expectations:
   The State Council Information Office press conference will clarify specific measures of monetary and financial policies to support the real economy, and it is expected to continue emphasizing the “moderately accommodative” stance.

3. Capital Flow:
   The scale of industrial capital’s share buybacks and increases continues to expand, bringing incremental funds to the market while conveying confidence in long-term development.

4. Investment Strategy:
   It is recommended to focus on:
   • Leading enterprises with strong buyback efforts
   • High-quality blue-chip stocks with stable dividends
   • Financial sectors benefiting from liquidity
   • Key areas supported by policies

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[1] Guancha.cn - “Central Bank to Conduct 900 Billion Yuan Outright Reverse Repo Operation, with 300 Billion Yuan Increased Volume” (https://news.qq.com/rain/a/20260114A068GI00)

[2] China Fund News - “Central Bank to Conduct 900 Billion Yuan Outright Reverse Repo Operation” (https://www.chnfund.com/article/ARbb4d1439-e47f-44cc-9617-3a1ece695dc1)

[3] Shanghai Securities News - “Central Bank Conducts 900 Billion Yuan Outright Reverse Repo Operation to Create a Favorable Liquidity Environment for Government Bond Issuance” (https://paper.cnstock.com/html/2026-01/15/content_2170385.htm)

[4] CLS.cn - “Preview: State Council Information Office to Hold Press Conference on the Effectiveness of Monetary and Financial Policies in Supporting High-Quality Development of the Real Economy on January 15” (https://www.cls.cn/detail/2258234)

[5] Caifuhao - “A-Share Restricted Share Unlocking Scale Reaches 2.827 Billion Yuan on January 9” (https://caifuhao.eastmoney.com/news/20260109141857443982400)

[6] Securities Times - “A-Share Buyback and Increase Wave Surpasses 220 Billion Yuan Last Year, Industrial Capital Conveys Confidence” (https://www.stcn.com/article/detail/3582142.html)

[7] China Securities Journal·CS.com.cn - “A-Listed Companies Conduct Intensive Dividends, 2025 Cash Dividend Scale Hits a New High” (https://www.cs.com.cn/ssgs/gsxw/202601/t20260112_6532742.html)

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The above analysis is compiled based on public information. Investment involves risks, and decisions should be made cautiously. For more in-depth individual stock analysis or industry research, it is recommended to enable the in-depth research mode to obtain support from professional securities firm databases.