During the year, 476 listed companies issued equity incentives for science and technology enterprises with more than 80 % of private enterprises

Reporter Wu Xiaolu

On August 10, the three companies of Taiyuan Heavy Industry, Sadewong Zhong, and East China Pharmaceuticals issued equity incentive plans. According to the statistics of the same Flush iFind iFind, as of August 10, 476 listed companies have released 530 single -equity incentive plans (calculated separately for stocks and options), of which 444 orders have been implemented. Or in progress. Another 11 orders were not passed or stopped.

From the perspective of the equity incentive plan released during the year, there are many science and technology enterprises; private enterprises account for more than 80 %. Market participants believe that this year is the year when the three -year operation of state -owned enterprise reform, and the number of state -owned enterprises' equity incentives is expected to increase.

Science and Technology Board and GEM

The proportion of equity incentive plans is about 50 %

From the perspective of the incentives, in the above 519 single incentive plan, 393 orders choose restricted stocks, 124 orders to choose options, 2 orders to select stock value -added rights, involving 152,700 employees. From the perspective of the source of incentive stocks, it is mainly to repurchase shares of listed companies and issue stocks to the incentive objects.

After combing, the reporter found that science and technology enterprises have strong motivation for implementing equity incentives. From the perspective of the industry, there are the largest number of equity incentives in the electronics industry, with 84 orders. In addition, machinery, equipment, power equipment and pharmaceutical creatures include 58, 57 and 52 orders, respectively. From the perspective of the sector, there are 249, 102 orders, 159 orders, and 9 single -equity incentive plans for Shanghai and Shenzhen Main Board, Science and Technology Board, GEM and Bei Stock Exchange. Essence

In addition, in the reform of the registration system, the second type of restricted stocks added by the science and technology board and the GEM, simplified stock awarding methods, and the pricing was more flexible, becoming the mainstream choice of science and technology board and GEM company. In the stock incentive plan of science and technology boards and GEM, the proportion of second types of restricted stocks was 96.91%and 80.88%, respectively.

Recently, Tianci Materials launched the "one -fold" equity incentive plan (the award price of 6 yuan/share is 11.45%of the average price of the first trading day before the announcement of the draft), which caused investors to ask for heated discussion. Tianci Materials is easy to say in the interaction of the Shenzhen Stock Exchange. The restricted stock source that the company plans to grant is the company repurchased from the secondary market. The average price of the company's repurchase exceeds 48 yuan/share. The company always believes that talents are one of the cornerstones to maintain the company's high -speed development. The company hopes to improve the long -term performance assessment goals through equity incentives and long -term binding with employees, so that employees and companies will develop together. On this basis, the company can further improve its core competitiveness, maintain the market leading position, and give back to investors with better operating performance.

In an interview with the Securities Daily reporter, Wu Wanying, a senior researcher at Tim Wing Economic Think Tank, said that the equity incentive plan helps to stabilize and motivate the core backbone, bind the core management team, and help the company's business operations for a long time, stable, and sustainable development, so as Bring more efficient and lasting returns to shareholders. The price discount of Tianci Materials this time is strongly compared with the market average. However, the comprehensive costs increased more than the company's equity incentive plan price carried out last year.

"Overall, although increasing the amplitude of discounts can help reduce the pressure of payment faced by employees, if the supporting assessment goals are not challenged, it will not achieve sufficient incentive effects, which can easily lead to the effectiveness and rationality of the market's incentives and rationality of equity incentives. Question. "Wu Wanying said.

Subsequent state -owned enterprise equity incentive

The quantity is expected to increase

The three -year operation of state -owned enterprise reform is about to end, and equity incentives are an important part of state -owned enterprise reform. According to reporters, in the above 519 single -equity incentive plan, private enterprises issued 440 orders, accounting for 84.78%, and state -owned enterprises issued 42 orders, accounting for 8.09%.

In this regard, Shao Yu, chief economist of Oriental Securities, told the Securities Daily that the private enterprise was flexible, and the enthusiasm of equity incentives was higher. State -owned enterprises were relatively cautious, especially in the present, there was a lot of concerns about the salary growth plan.

"The private enterprise and state -owned enterprise implement the equity incentive plan from the purpose and starting point to stimulate the vitality of the team, introduce external development elements, and promote enterprises to become bigger and stronger. It is said that generally speaking, listed state -owned enterprises have more stringent equity incentive plans, and require more requirements in terms of equity ratio, participation objects, approval processes, assessment indicators, and sales restriction periods, so the process is relatively slow. However, in recent years, with the further implementation of the relevant deployment of the incentive mechanism and the reform of the salary system, the importance of the equity reform of state -owned enterprises has become increasingly prominent, and it has also ushered in a faster and stable development.

The chief analyst of a securities company strategy told the reporter of the Securities Daily, "This year is the last year of the three -year operation of state -owned enterprise reform. Theoretically, the motivation for state -owned enterprises to conduct equity incentives is still sufficient. Will grow. "

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