SANXING(SH:601567)2024-03-04 07:37Group 1: Core Team Stock Ownership Plan - The core team stock ownership plan involves up to 19 participants, including directors (excluding independent directors) and senior management, with a total funding not exceeding 42.16 million yuan and a maximum of 204.86 million shares involved [2] - The performance targets for the stock ownership plan are based on the non-net profit growth of smart power distribution, with growth targets set at no less than 123% for 2024, 190% for 2025, and 277% for 2026 [2][3] - This plan aims to align the interests of employees, shareholders, and the company, enhancing corporate governance and retaining key management talent [3] Group 2: Impact of MSCI Inclusion - Inclusion in the MSCI China A-share index enhances the company's visibility to foreign investors and improves its influence in the international capital market [3] - The index serves as a performance benchmark for investors in the A-share market, facilitating better understanding and investment in the company [3] Group 3: Overseas Business Growth - The company has established a global sales network covering over 70 countries, with key clients including Vattenfall, E.ON, Enel, and SEC [3] - Strong R&D capabilities and a comprehensive smart manufacturing management system support the company's ability to provide integrated smart energy management solutions [3] - Future strategies include deepening overseas expansion and participating in global smart grid construction, aligning with China's Belt and Road Initiative [3] Group 4: Domestic Demand for Electric Meters - The demand for electric meters in China is primarily driven by state grid procurement, with a projected tender volume of 72.18 million units in 2023, reflecting a 4% increase from 2022 [4] - The State Grid's upcoming procurement includes 46.53 million units, with a significant increase of 76% year-on-year, and 44.15 million electric meters, up 85% [4] - The company has over 30 years of experience in the electric meter industry, maintaining a leading position in tender amounts and expanding its customer base beyond state grid clients [4]