三力士公告称，公司拟以集中竞价交易方式回购A股，用于员工持股计划或股权激励。回购资金不低于 3000万元且不超6000万元，回购价不超6.5元/股，预计回购数量461.54万股至923.08万股，占总股本 0.51%-1.02%，实施期限为董事会审议通过之日起12个月。资金来源为自有资金及自筹资金。相关股东 未来六个月及回购期无明确减持计划。此外，本次回购存在股价、资金等风险。 ...

11月19日晚，小米集团发布公告，宣布根据2023年股份计划及2024年小米香港股份计划，向数千名选定 参与者授出大规模股份奖励及购股权。 公告显示，19日当天，小米根据2023年股份计划，共向3334名选定参与者授出合共29366734股奖励股 份，包括集团雇员及服务供应商。以当天的收盘价每股38.82港元计算 ，这批奖励股份的总市值约为 11.4亿港元（约合人民币10.4亿元）。 近期小米股价持续承压，截至发稿已跌至37.3港元/股。 具体分配上，小米股份奖励绝大部分股份授予了员工，共计29102866股；另有263868股授予了服务供应 商 。值得注意的是，这批奖励股份的授出代价为零，意味着获得奖励的员工无需支付购买成本。 除集团层面的股份奖励外，小米集团旗下子公司Xiaomi H.K. Limited（小米香港）也于同日根据2024年 小米香港股份计划，向3名选定参与者授出了合共496300份购股权，三人均为小米香港集团雇员。获得 购股权的员工可按每股0.1美元的价格购入小米香港股份。 小米还表示，截至公告日期11月19日，根据小米香港计划授权限额及小米香港服务供应商分项限额，分 别有52708761 ...

Core Points - The core issue revolves around the controversy sparked by the founder of New Oriental, Yu Minhong, sending a letter from Antarctica to employees on the company's 32nd anniversary, which was perceived as disconnected from the employees' realities [1][3][4] Group 1: Company Background and Events - New Oriental celebrated its 32nd anniversary on November 16, with Yu Minhong reflecting on the company's journey and future plans in a letter themed "Perseverance in the Ice and Snow" [1] - The letter, intended to motivate employees, instead led to backlash as many employees felt unable to empathize with the founder's experience while they were working overtime [1][3] - Following the controversy, Yu Minhong responded in a video on November 18, stating that his trip to Antarctica was to discuss the future of natural education for Chinese children, announcing plans to establish a youth exploration center [1][3] Group 2: Employee Sentiment and Public Reaction - The letter's content, which emphasized Yu Minhong's personal experiences in Antarctica, was criticized for lacking acknowledgment of employee pressures, leading to a perception of a disconnect between management and staff [3][4] - Social media reactions highlighted the stark contrast between the founder's luxurious trip and employees working during the anniversary, coining the phrase "boss in Antarctica, employees working" [3][4] - The public interest in Yu Minhong surged, with the WeChat index for his name rising from around 150,000 on November 16 to nearly 20 million by November 18 [1] Group 3: Financial Performance and Business Strategy - New Oriental has been facing challenges in its business transformation, particularly after the departure of key personnel, which has affected the performance of its subsidiary, Oriental Selection [6][7] - Financial reports indicate that for the fiscal year 2025, Oriental Selection's revenue, profit, and gross merchandise volume (GMV) are expected to decline significantly, with net profit projected at only 6.2 million [7] - New Oriental's overall revenue for the fourth quarter of fiscal year 2025 was reported at $1.243 billion, a year-on-year increase of 9.4%, but it also faced an operating loss of $8.674 million, a significant decline compared to the previous year [7] Group 4: Future Directions and Challenges - New Oriental aims to explore the tourism sector as a third growth curve, with plans for a separate IPO for its tourism business, which has yet to show significant results in financial performance [8][9] - The company has established numerous subsidiaries under its tourism brand and invested in various travel-related ventures, indicating a strategic shift towards diversifying its business model [10] - Experts suggest that while the tourism direction is promising, the company must innovate its offerings and build a comprehensive service system to differentiate itself in the competitive market [10]

Core Viewpoint - Zhendong Pharmaceutical has completed the sale of its third employee stock ownership plan and announced the fourth plan, which aims to enhance employee engagement and align their interests with the company's growth [1][2]. Group 1: Employee Stock Ownership Plans - The third employee stock ownership plan has been fully sold off as of the announcement date, with the lock-up period ending on December 4, 2024 [1]. - The fourth employee stock ownership plan will cover up to 2,000 employees from the company and its subsidiaries, with a total funding cap of 250 million yuan, set at 1 yuan per share, totaling up to 250 million shares [1][2]. Group 2: Lock-up and Duration Rules - The fourth employee stock ownership plan will have a maximum duration of 36 months, starting from the date of the last stock transfer to the plan [2]. - The lock-up period for the stocks acquired under the fourth plan will last for 12 months from the date of the last purchase [2]. Group 3: Strategic Implications - The continuous rollout of employee stock ownership plans creates a positive cycle of "ending one plan and initiating another," effectively binding employee interests with corporate development [2]. - Zhendong Pharmaceutical is focusing on key sectors such as oncology, dermatology, and gynecology, with a stable core team expected to accelerate business implementation [2].

Core Insights - The departure of Dong Yuhui from Yu Minhong is seen as a correct decision, highlighting that Yu Minhong does not value his employees, treating them merely as expendable resources [1] Group 1: Company Leadership and Employee Relations - On November 16, New Oriental celebrated its 32nd anniversary, with founder Yu Minhong sending a letter to all employees from Antarctica, using the survival spirit of Antarctic penguins to encourage employees to stay true to their mission [3] - Employees reacted negatively to Yu Minhong's letter, perceiving it as ironic that he was enjoying himself in Antarctica while they were working overtime [3][9] - The disconnect between Yu Minhong's lifestyle and the struggles of employees has led to feelings of resentment, as employees feel undervalued and overworked [7][9] Group 2: Employee Sentiment and Expectations - Employees are willing to accept a certain level of hardship for fair compensation, but they are less tolerant of motivational speeches when they feel exploited [5][7] - The current generation of employees is less responsive to traditional motivational tactics, indicating a shift in workplace expectations [11] - Yu Minhong's writing, while appreciated by fans, fails to resonate with employees who see it as disconnected from their reality [12]

Core Viewpoint - The ongoing impact of the "Xibei and Luo Yonghao dispute" has led to negative public sentiment affecting frontline employees, prompting Xibei to implement measures to support and compensate its staff [2][4]. Employee Compensation and Support - Starting from September, Xibei has increased salaries by an average of 500 yuan per person per month for frontline employees, alongside additional compensation for those who faced online harassment during the dispute [2][3]. - The compensation structure includes a fixed bonus package per store, with individual bonuses ranging from 300 to 800 yuan based on performance assessments starting in October [3]. - Xibei has established a "most beautiful Xibei person" award program, rewarding 4-6 employees per store each month with bonuses of approximately 400-800 yuan, depending on store profitability [3][4]. Employee Engagement and Training - Xibei is focusing on enhancing employee satisfaction to improve customer experience, drawing inspiration from industry leaders like Haidilao [4]. - The company has introduced a "skills bonus" system, where employees can earn 300 yuan per month for acquiring new service skills [4]. - A monthly "competition reward" fund of over 10 million yuan is allocated to incentivize stores that excel in customer experience and food safety [4]. Operational Adjustments - Xibei has committed to not reducing staff hours or laying off employees during the dispute, encouraging training and skill development during slow periods [4]. - To recover customer traffic, Xibei has implemented price reductions on certain dishes and issued consumption vouchers [4]. - Recent observations indicate a gradual recovery in customer traffic at Xibei's physical locations, with increased seating rates noted in October compared to previous months [4].

Core Viewpoint - The internal letter from the founder of New Oriental, Yu Minhong, delivered from Antarctica, aimed to celebrate the company's 32nd anniversary and inspire employees, but it sparked controversy due to the stark contrast between the founder's location and the employees' working conditions [3][5]. Summary by Sections Company Overview - New Oriental is celebrating its 32nd anniversary, with Yu Minhong reflecting on the company's journey and future aspirations in his letter [3]. - The company aims to position itself as a "sower of hope" and represent "the conscience of merchants" through its various business segments [3]. Employee Sentiment - The letter received mixed reactions from employees, with some expressing feelings of disconnect and frustration over the founder's vacation while they were working late [5][8]. - Employees noted the irony in the founder's descriptions of the Antarctic scenery, contrasting it with their own challenging work conditions [5][8]. Financial Performance - New Oriental is currently undergoing a critical transformation phase, facing significant operational pressures [8]. - The financial report for Q4 of fiscal year 2025 showed a 73.7% drop in net profit to $7.1 million, primarily due to the underperformance of the Oriental Selection business and goodwill impairment [8]. - Revenue growth for the core education business has slowed, with fiscal year 2025 revenue growth decreasing from 43.9% to 13.6% [8]. - The unaudited financial report for Q1 of fiscal year 2026 indicated net revenue of $1.523 billion, a 6.1% year-over-year increase, driven by new educational business segments [8].

Core Points - TSMC announced a special bonus of 25,000 New Taiwan Dollars (approximately 5,745 RMB) for about 75,000 eligible employees due to record revenue and profit expected in 2025 [1][4] - The total amount of bonuses distributed will reach 1.875 billion New Taiwan Dollars (approximately 431 million RMB), marking the largest single bonus distribution in the company's history [4] - The bonus is aimed at employees who joined before May 31 of this year and hold specific job grades, ensuring that all eligible employees globally receive the same amount [4] Summary by Sections - **Bonus Announcement**: TSMC's chairman announced the special bonus during the annual sports meeting, highlighting the company's strong performance and future growth expectations [1][4] - **Bonus Increase**: The bonus has increased from 16,000 New Taiwan Dollars in 2023 to 20,000 in 2024, and now to 25,000 in 2025, reflecting the company's commitment to rewarding its employees [3] - **Employee Morale**: The announcement was met with enthusiasm from employees, indicating a positive impact on morale and motivation within the company [4]

Core Viewpoint - Zhenghai Bio (300653) announced on October 27 that it will continue its strategy of stable operations and actively returning profits to investors, maintaining annual performance dividends since its listing [1] Group 1 - The company emphasizes its commitment to investor returns based on overall performance [1] - Future plans include developing specific employee incentive schemes in accordance with relevant regulations [1] - The company encourages stakeholders to pay attention to upcoming announcements regarding these incentive plans [1]

Core Points - On October 24, the programmer's day, the company Insta360 rewarded its employees with 21 gold keycaps, including a gold space key weighing 35.02 grams, valued at nearly 40,000 yuan [1] - The event has been held for four consecutive years, with a total of 55 gold keycaps distributed, including various keys like "C", "V", "Ctrl", "Shift", "Enter", and space [1][3] - The company emphasizes the importance of its R&D personnel, who make up 57.68% of its workforce, as the core of product innovation [3] Employee Recognition - The gold keycaps serve as a tribute to the R&D staff, symbolizing that every keystroke turns "stone into gold" and every line of code is "worth a thousand gold" [3] - In addition to the gold keycaps, all R&D personnel received health-related gifts for the holiday [3] Company Culture and Philosophy - Insta360 has been referred to as the "gold factory" due to its frequent distribution of gold benefits, including "golden blind boxes" and gold coins for significant life events like marriage and childbirth [4][6] - The founder, Liu Jingkang, stated that the distribution of gold is not merely about its monetary value but reflects stability, akin to the foundational role of talent in a tech company [7] Recent Controversies - The company faced scrutiny after a video of Liu Jingkang distributing cash to employees went viral, leading to an apology and a review of internal management practices [7] - Additionally, the company apologized for contributing to a price drop in DJI products and offered vouchers to customers who purchased during a specific period [8] Company Performance - Liu Jingkang, born in 1991, founded Insta360 in 2015, and the company went public on the Shanghai Stock Exchange's Sci-Tech Innovation Board in June 2021 [13] - The stock price increased significantly, with a first-day opening price of 182 yuan per share, up 285% from the issue price, and a current price of 279.83 yuan, representing a 492% increase, with a total market capitalization of 112.2 billion yuan [13]