XCMG(SZ:000425) Zheng Quan Zhi Xing·2025-09-02 16:26Core Viewpoint - The company, XCMG Machinery, is implementing a stock incentive plan that includes stock options and restricted stock, aiming to enhance corporate governance and align the interests of shareholders, the company, and employees [13][18]. Group 1: Incentive Plan Overview - The incentive plan consists of two parts: a stock option incentive plan and a restricted stock incentive plan, with a total of 47 million shares to be granted, accounting for 4% of the company's total share capital [3][18]. - The initial grant includes 42.3 million shares, representing 3.6% of the total share capital at the time of the announcement [3][18]. - The stock options will be priced at 9.67 yuan per share, while the restricted stock will be priced at 4.84 yuan per share [6][19]. Group 2: Eligibility and Conditions - The plan targets up to 4,700 individuals, including directors, senior management, middle management, and key technical and business personnel [6][16]. - The plan will only be implemented after approval from the local government and the company's shareholders [10][13]. - The incentive objects must not have participated in any other stock incentive plans from other listed companies [16][19]. Group 3: Performance Targets - The performance targets for the stock options and restricted stocks include achieving a net asset return rate of at least 10% in 2025, with net profits not less than 6.5 billion yuan [8][28]. - For 2026, the targets include a net profit of at least 7.5 billion yuan and a net asset return rate of at least 11% [8][28]. - By 2027, the net profit target is set at 10 billion yuan, with a net asset return rate of at least 12% [8][28]. Group 4: Adjustments and Compliance - The plan allows for adjustments to the stock options and restricted stock prices or quantities in case of corporate actions such as stock splits or dividends [6][18]. - The company commits to ensuring that major shareholders and their immediate family members do not participate in the incentive plan [10][13]. - The plan includes provisions for the cancellation of unexercised stock options if the company fails to meet certain conditions [24][27].