NUODE(SH:600110) Chang Jiang Shang Bao·2025-05-15 23:18Core Viewpoint - Nord Shares (600110.SH) has announced a higher target for its stock option incentive plan, aiming for significant growth in sales and revenue in the coming years [1][2] Group 1: Stock Option Incentive Plan - The company plans to grant a total of 35 million stock options, accounting for 2.02% of the total share capital of 1.735 billion shares [1][2] - The initial grant consists of 31.13 million options, representing 1.79% of the total share capital, while 387,000 options are reserved [2] - The exercise price for the stock options is set at 3.41 yuan per share, determined as 80% of the average stock price over the previous 120 trading days [2] Group 2: Performance Targets - For 2025 and 2026, the company aims for a 30% increase in both copper foil product sales volume and revenue, with specific revenue targets of 6.861 billion yuan and 8.919 billion yuan respectively [1][3] - The assessment for the stock options will occur annually, with the company needing to meet at least one of the two targets each year [4] Group 3: Financial Performance - In Q1 2025, the company reported revenue of 1.409 billion yuan, a year-on-year increase of 34.29%, but incurred a net loss of 37.67 million yuan, an improvement from a loss of 94.39 million yuan in the same period last year [1][6] - The company has experienced a decline in net profit despite revenue growth, with a reported loss of 352 million yuan in 2024, a significant drop of 1387.59% year-on-year [5] - The gross margin has decreased from 24.73% in 2021 to 6.31% in 2024, although it improved to 9.93% in Q1 2025 [6][7] Group 4: Research and Development Investment - The company has consistently invested over 150 million yuan in R&D for four consecutive years, with R&D expenses of 157 million yuan, 158 million yuan, 151 million yuan, and 151 million yuan from 2021 to 2024 [8] - In Q1 2025, R&D expenses reached 46.29 million yuan, reflecting a year-on-year increase of 90.32% [8]