SANGANG MINGUANG(SZ:002110)2024-03-06 10:32Group 1: Equity Incentive Plan - The goal of the equity incentive plan is to achieve the release of restricted shares and enhance corporate profitability, competitiveness, and employee income [2] - The plan was approved at the shareholders' meeting on February 21, 2024, with a grant date of February 29, 2024, and a grant price of CNY 2.55 per share for 325 participants [2][3] Group 2: Production Capacity and Output - In 2023, the company produced 9.78 million tons of pig iron, a year-on-year increase of 4.49%, and 11.24 million tons of crude steel, a year-on-year increase of 1.94% [3] - The main products are construction steel and industrial materials, with specific production lines and outputs detailed for each facility [3][4] Group 3: Capacity Utilization and Policy Impact - The overall production continuity and stability of iron and steel have not been affected by policy adjustments, with ongoing capacity replacement projects [4] - The company plans to complete ultra-low emission renovations for its facilities by 2024 and 2025, with significant investments in environmental protection totaling CNY 3.105 billion from 2020 to 2022 [5] Group 4: Financial Performance and Profitability - The company aims for a cash dividend distribution of at least 30% of the average distributable profit over three years, with a minimum of 20% of the annual distributable profit allocated as cash dividends [6] - Cumulative net profit from 2016 to 2022 reached CNY 23.852 billion, with cumulative cash dividends of CNY 9.423 billion, representing 39.51% of the average distributable profit over those years [6]