On February 27th, Shanghai Aiko Solar Energy Co., Ltd. (hereinafter referred to as Aiko Solar) disclosed the 2020 equity incentive plan (draft), which intends to grant 36.0 million equity options to the incentive object.
36.0 million shares account for 1.97% of the company’s total share capital of 1.83 billion shares on the date of announcement of the draft incentive plan. 29.254 million shares will be granted for the first time, accounting for 81.26% of the total number of equity options to be granted under the incentive plan, and account for 1.60% of the company’s total share capital of 1.83 billion shares on the date of announcement of the draft incentive plan; Reserved 6.746 million shares account for 18.74% of the total number of equity options to be granted under the incentive plan, and 0.37% of the company’s total share capital of 1.83 billion shares on the date of announcement of the draft incentive plan. Each equity option granted under the plan has the right to purchase one ordinary share of the company’s A shares at the exercise price during the period of the option, subject to the exercise conditions and exercise arrangements.
The first exercise price of the equity options granted under the incentive plan is $11.22 per share. Some of the recipients of the first award included 287 executives, including He Daneng, the company’s executive vice President. The capital involved is about RMB 400 million.
According to the incentive plan, Aiko Solar plans to evaluate the company’s performance indicators in the fiscal year from 2020 to 2023, so as to achieve the company’s performance assessment target as one of the exercise conditions of the incentive object in the current year. Performance appraisal objectives are shown in the following table:
In the 2019 annual financial forecast of Aiko Solar, the company’s operating revenue in 2019 reached 6.069 billion yuan, up 47.74% year on year. Net profit attributable to shareholders of the listed company was 585 million yuan, up 69.61% year on year; The net profit attributable to shareholders of the listed company after deducting non-recurring profits and losses was 490 million yuan, up 92.47% year on year; Basic earnings per share reached 0.37 yuan.The net cash flow from operating activities was 1.587 billion yuan, up 62.43% year on year.
