Goor's big hand incentive plan: 6,000 employees, revenue will exceed 100 billion next year, doubled in 2025

21st Century Business Herald reporter Zhang Sainan intern Huang Xiaoying Shanghai report

On the evening of July 10, Goor (002241.SZ) released equity incentives and "Homeland No. 6" employee holding plans.

The number of stock options granted by the incentive plan was 77.52 million, and the total number of incentive objects granted for the first time was 5001, and the price of the rights of the stock during the stock period was 34.24 yuan/share. The employee holding plan does not exceed 74.265 million shares, and the total number does not exceed 1,000.

After the above -mentioned plan was released, the closing price on July 11, the latest stock price of Goer's shares was reported at 32.39 yuan/share, down 2.06%.

In addition to inspiring prices, the assessment indicators formulated by the two plans are also an important reference for Goor's future performance growth.

Among them, equity incentives clarify the performance goals of 2023 and 2024, while the employee shareholding plan clarifies the performance goals of 2023-2026. According to the employee shareholding plan, by 2025, the revenue scale of Goer shares doubled from 2021.

Regarding the related issues of performance expectations, on July 11, the 21st Century Business Herald reporters called Gorl shares as investors. The relevant person in charge said, "How much confidence is currently talking about can be reached too early. We can only strive to fight for the goal of an assessment. "

Double performance in 2025 performance

According to the equity incentive plan, 77.52 million stock options were granted to the incentive objects, accounting for about 2.27%of the company's total share capital as of now. Among them, the first granting options were awarded 6202 million, and the granted to 5001 companies to manage the backbone and business backbones, accounting for about 80%of the total granted, accounting for 1.81%of the company's total share capital. It accounts for 20%of the total granted, accounting for 0.45%of the company's total share capital so far.

The price of the shares of the incentive plan is 34.24 yuan/share. After the first granting of the stock options from the date of granting for 21 months and 33 months, the incentive object was divided into two phases of exercise at a rate of 50%: 50%: 50%. The reserved stock options were awarded at one time within 12 months after the company's shareholders' meeting was reviewed and approved. After 12 months and 24 months from the date of the granting of this part of the stock options, the incentive object was at 50%within the day of feasibility rights. The proportion of exercise is divided into two phases of exercise.

On the same day, the company also released the "Homeland No. 6" employee holding plan. It accounts for about 2.17%of the current company's total share capital; of which, the first part of the share is 65.88 million shares, accounting for 88.71%of the total number of employees 'shareholding plan shares, with a reserved share of 83.85451 million shares, accounting for 11.29 of the total number of employees' shareholding plan shares. %.

Participating in the shareholding plan is the company's directors (excluding independent directors), supervisors, senior managers, and core backbone employees. 12 people.

For the first time, some stocks were unlocked in four phases. When unlocking, it was planned to be transferred to the shareholding of the shareholding until the name of the employee holding plan. The total number of shares held by the holding plan 25%, 25%, 25%, and 25%.

The announcement shows that both plans use performance as an assessment indicator. Equity incentives clarify the performance targets of 2023 and 2024, and the "Homeland No. 6" plan clarifies the performance of 2023-2026. The operating conditions for equity incentives are not less than 40%and 70%of operating income growth in 2023 and 2024, respectively, and the conditions for employee shareholding plans are from 2023-2026. Not less than 40%, 70%, 100%, and 130%, respectively.

The financial report shows that Geor's shares in 2021 were 78.221 billion yuan. Based on the proportion of the above assessment conditions, the company's revenue in the next two years (2023, 2024) cannot be less than 109.509 billion yuan and 132.975 billion yuan, respectively. In 2025 and 2026 100 million yuan.

According to Goer's shares, the incentive plan and employee shareholding plan are based on the critical period of the current company's strategic transformation, establish and improve the company's long -term and effective incentive restraint mechanism, fully mobilize the enthusiasm and creativity of employees, attract and retain outstanding management talents With the backbone of the business, improve the cohesion of the company's employees and the company's competitiveness, and ensure the company's long -term and stable development.

"Goor's incentives and shareholding scale have been the largest in the past three years, which shows the company's medium and long -term development confidence." A institutional person believes.

Where does the growth come?

As far as Geor's shares are concerned, its biggest label is the Apple industry chain giant, but in recent years, the security of Apple's supply chain security has caused the fruit chain plate as a whole to fall into the downturn, and Goer's shares have not been spared. Its stock price has fallen by over 40%since the beginning of the year, and the company's net profit in the first quarter of this year has even declined.

However, Goer has also tried to get rid of the dependence on Apple.

With the Dongfeng of the Yuan universe, the VR/AR business of Goer's early layout has grown at a high speed. The intelligent hardware business sector belonging to the smart hardware business also surpassed the smart acoustic machine business in 2021, and it became the core business of Goer.

The VR/AR business may become its greatest support for the aforementioned "double performance" plan.

The 2022 semi -annual performance trailer released by Goer's shares shows that the performance in the second quarter has improved significantly. It is expected to achieve net profit of 2.077 billion yuan to 2.423 billion yuan in the first half of the year, a year -on -year increase of 20%to 40%. 100 million yuan -2185 billion yuan, a year-on-year increase of 35%-55%.

Regarding the reasons for the significant increase in performance, Goer explained that the sales revenue of the company's VR virtual reality, smart game console and other products has increased, and its profitability has increased significantly.

In the industry, the industry is well -known.

Oriental Securities believes that the shipments related to Geor's game consoles continue to increase, and smart wearable products in domestic customers are also expected to contribute incremental increases, promoting its continuous and rapid growth in revenue and profits.

CICC issued a research report saying that many customers in Goer's downstream increased the direction of AR and VR in the direction of AR and VR. In the medium and long term, Goor still benefited the industry's core. In addition to the steady growth of Oculus this year, Golf Customers also contributed incremental customers such as Sony and PICO. Among them, PICO has obvious resources in the byte body. It is expected that VR shipments will be rapidly growing this year and next year.

On April 27, Goor said in investigations in 360 institutions that the company currently has an absolute advantage in the global VR manufacturing field, further focusing on the development of optics in the future, and its layout in the AR field is also very deep. It is expected that by 2025, the company can become a competitive company in the VR/AR entire industry chain and industry leaders.

In the face of such goals, Goor's shares have launched an incentive plan and employee holding plan, and it is not difficult to understand the intention behind it.

However, the other side of the coin is that while VR/AR becomes its important growth point, a little wind and grass in the industry will also affect the market's judgment on Geor. Just in June this year, affected by the Meta head and the slow news of VR business, Goer's shares flashed and fell within 20 minutes, which was enough to see the uncertainty of the new business existence.

Regarding how the performance goals are achieved, the 21st Century Economic Herald reporters calling the Gorier Securities Department as investors. We can only work hard. "

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