WXSJ(SH:603185) Zheng Quan Zhi Xing·2025-09-05 16:34Company Overview - Company Name: Hongyuan Green Energy Co., Ltd. - Registered Capital: 678.022 million RMB - Legal Representative: Yang Jianli - Registered Address: No. 158, South Lake Middle Road, Xuelang Street, Binhu District, Wuxi City, Jiangsu Province - Listing Date: December 28, 2018 - Business Scope: Manufacturing, processing, and sales of CNC machine tools, general machine tools, automation control equipment, testing equipment, metal structures, machine tool parts, and accessories; hardware processing; development of CNC software; import and export of various goods and technologies [1][1][1] Financial Data - 2024 Revenue: 7.302 billion RMB, down from 11.859 billion RMB in 2023 and 21.909 billion RMB in 2022 - 2024 Net Profit Attributable to Shareholders: -2.697 billion RMB, compared to 740.570 million RMB in 2023 and 3.033 billion RMB in 2022 - 2024 Basic Earnings Per Share: -4.322 RMB, down from 1.272 RMB in 2023 and 5.599 RMB in 2022 - 2024 Total Assets: 29.223 billion RMB, slightly down from 29.382 billion RMB in 2023 and up from 21.038 billion RMB in 2022 [1][1][1] Incentive Plan Purpose - The incentive plan aims to establish a long-term incentive mechanism to attract and retain talent, align the interests of shareholders, the company, and core team members, and focus on the company's long-term development [2][2] Stock Incentive Details - The plan involves granting a total of up to 5.4227 million restricted stocks, accounting for approximately 0.80% of the company's total share capital of 67,902.2202 million shares - The initial grant will consist of 4.3382 million shares, representing 80% of the total restricted stocks to be granted [2][3] Eligible Participants - The incentive plan targets 193 core employees, excluding directors and senior management - The remaining rights will be allocated to other eligible participants within 12 months after the plan is approved by the shareholders' meeting [3][3] Grant Price and Conditions - The grant price for the restricted stocks is set at 11.61 RMB per share - The price is determined based on the higher of 50% of the average trading price over the previous trading day or the previous 20 trading days [5][5] Vesting Schedule - The incentive plan has a maximum validity of 60 months - The vesting schedule includes three phases, with 40% vesting after 12 months, 30% after 24 months, and 30% after 36 months from the grant date [7][8] Performance Conditions - The performance targets for the first vesting period require a revenue growth rate of at least 40% in 2025 compared to 2024 or a turnaround to profitability - Subsequent periods have increasing revenue growth targets of 50% and 60% for 2026 and 2027, respectively [11][13] Adjustment Procedures - The number of restricted stocks and grant prices may be adjusted in case of capital increases, stock splits, or other corporate actions - Adjustments will be based on specific formulas to ensure fairness [15][16] Rights and Obligations - The company is responsible for performance evaluations and may repurchase unvested stocks if performance conditions are not met - Participants must fulfill tax obligations and adhere to the plan's terms [21][22]