Enpack(SZ:002846) Zhong Guo Zheng Quan Bao - Zhong Zheng Wang·2026-02-01 23:03Core Viewpoint - The company is implementing a long-term equity incentive plan to enhance innovation and attract core talent, particularly in the context of its composite current collector project for electric vehicle batteries, which involves significant investment and production capacity expansion [2][4][15]. Group 1: Project Overview - The company plans to invest CNY 30.89 billion in a composite current collector project, aiming for an annual production capacity of 500 million square meters of composite copper foil and 100 million square meters of composite aluminum foil [2]. - A subsidiary, Jiangsu Yinglian Composite Current Collector Co., Ltd., has been established to lead the project, supported by a specialized technical team [2]. - The company has already set up production lines for both composite aluminum and copper foils and is preparing for mass production [2]. Group 2: Product Development - The Jiangsu Yinglian team has developed composite aluminum and copper foils, which are currently being tested by downstream clients in the battery sector, leading to deeper collaborations with key customers [3]. - The company is also developing materials for solid-state batteries, including lithium metal anode materials and specialized composite copper foils, in collaboration with automotive and battery companies [3]. Group 3: Equity Incentive Plan - The first phase of the long-term equity incentive plan was initiated in September 2024, targeting core team members to align their interests with the company's long-term development [4][8]. - The second phase of the equity incentive plan has been approved, with a total of CNY 500 million in registered capital, allowing for indirect ownership through a holding platform [10][11]. - Performance assessment criteria for the second phase will include both company-level and individual-level metrics, ensuring that the incentive plan is closely tied to the company's strategic goals [13]. Group 4: Impact on the Company - The implementation of the equity incentive plan is expected to enhance collaboration within the core team, improve decision-making quality, and accelerate technological advancements in the composite current collector business [15]. - The company retains a 90% ownership stake in Jiangsu Yinglian, ensuring continued control and integration into the company's consolidated financial statements [15].