澜起科技调整股权激励方案

Core Viewpoint - The adjustment of the incentive plan by Lanke Technology aims to respond positively to market feedback, control costs, and align the long-term interests of the company, shareholders, and core management [1][3]. Group 1: Incentive Plan Adjustment - Lanke Technology announced the revision of its incentive plan, converting 11.4 million stock appreciation rights into restricted stock [1]. - The original incentive plan was introduced during a period of market downturn, with a net profit target set at 3.5 times the average net profit from 2021 to 2023, and a market capitalization goal of 100 billion yuan [1]. - The original plan received strong support from shareholders and positive market reactions, with a stock price increase of 6% following the announcement [2]. Group 2: Financial Performance - For the first three quarters of 2025, Lanke Technology reported a revenue of 4.1 billion yuan, a year-on-year increase of 58%, and a net profit of 1.6 billion yuan, up 67% [2]. - The increase in company valuation has led to a significant rise in stock appreciation rights-related expenses, prompting mixed reactions from investors regarding the impact on core competitiveness and profitability [2]. Group 3: Market Response and Future Outlook - The revised incentive plan alleviates concerns about rising stock appreciation expenses affecting reported profits, as it eliminates cash costs associated with stock appreciation rights [3]. - The change from cash-based rewards to stock holdings for two core management members further aligns their interests with those of the company and shareholders [3]. - The company emphasized that the optimization of the incentive plan is a proactive response to investor suggestions, aimed at strengthening the foundation for long-term performance and delivering greater value to investors [3].