Heilongjiang Zbd Pharmaceutical Co.Ltd(603567) (603567) announced today that the company will launch a restricted stock incentive plan, which is the first time the company has launched an equity incentive plan since its IPO in 2015. According to the announcement, the incentive plan, Heilongjiang Zbd Pharmaceutical Co.Ltd(603567) will issue 1.5 million shares to the incentive objects, accounting for 0.159% of the total share capital of the company. The price is 7.37 yuan / share, and the closing price of Heilongjiang Zbd Pharmaceutical Co.Ltd(603567) on January 28 is 13.36 yuan / share. The total number of incentive objects granted by this incentive plan is 51, including 5 senior executives and 46 core R & D and business backbone personnel. The proportion of shares to be granted in the total number of restricted shares granted is 17.33% and 82.67% respectively. It can be seen that this incentive plan mainly focuses on the front-line R & D and business backbone personnel of the company.
According to the draft, the restricted shares granted by the incentive plan are restricted for 12 months, 24 months and 36 months respectively from the date of completion of the registration of restricted shares, and the corresponding proportion of sales restrictions that can be lifted is 30%, 30% and 40% respectively. The assessment year for the lifting of sales restrictions is three fiscal years from 2022 to 2024. The assessment indicators at the company level are set as the combination indicators with three dimensions each year, which must be met at the same time, that is, the proportion of the total R & D expenditure in the operating revenue of the current year shall not be less than 5%; Based on the audited financial data of 2021, the annual compound growth rate of sales revenue of oral preparation products shall not be less than 40%; Based on the annual audited financial data of the previous year, the increase of annual accounts receivable turnover rate in the three assessment periods shall not be less than 3%, 4% and 5% respectively. In addition, the appraisal indicators of the company’s restricted stock this time are divided into two levels: company level performance appraisal and individual level performance appraisal. The individual level assessment of the incentive object shall be implemented in accordance with the relevant provisions of the company’s current salary and assessment. On the premise of the achievement of the company’s performance appraisal objectives, the company will determine the proportion of lifting the sales restriction according to the annual performance appraisal results of the incentive objects.
It is also understood that Heilongjiang Zbd Pharmaceutical Co.Ltd(603567) currently adheres to the R & D concept of “comprehensive innovation” of traditional Chinese medicine, chemical medicine and biological medicine, focuses on the fields of advantageous diseases such as cardio cerebrovascular, respiratory system and tumor, adheres to the “double line development strategy of injection and oral agent”, optimizes the product structure, tamps the main industry, and further stabilizes its leading position in the traditional Chinese medicine industry. In order to realize the company’s strategy and maintain market competitiveness, the company plans to fully activate the enthusiasm of the management team and core backbone through the effective implementation of the equity incentive plan. After reasonable prediction and considering the incentive effect, the equity incentive plan selects the index reflecting the profitability of the enterprise “sales revenue of oral preparation products”, the index reflecting the operation ability of the enterprise “turnover rate of accounts receivable” and the index reflecting the long-term development potential “the proportion of total R & D expenditure to operating revenue” as the performance evaluation index.
Sales revenue is one of the important indicators reflecting the sustainable operation ability of enterprises. The target of “sales revenue of oral preparations” is selected this time, considering that the company will accelerate the development and sales of oral preparations in the future to improve the overall revenue level. The specific value has been reasonably predicted and comprehensively considered the possibility and incentive effect. Therefore, the company has set an annual compound growth rate of no less than 40% of the sales revenue of oral preparations in each year from 2022 to 2024 based on 2021 in the three lifting periods.
The turnover rate of accounts receivable is one of the important indicators reflecting the operation quality of enterprises. This index is selected in consideration of the company’s fine management of accounts receivable and improvement of collection ability in order to control the benign development of cash flow in the future business expansion. The specific value has been reasonably predicted and comprehensively considered the possibility and incentive effect. Therefore, the company has set the above accounting year as the basis in the three lifting periods, and the growth rate of accounts receivable turnover rate in each year from 2022 to 2024 is not less than 3%, 4% and 5%.
The proportion of total R & D expenditure to operating income is one of the important indicators to reflect the long-term development potential of enterprises. This index is selected in consideration of the fact that the company has completed the R & D system of “one heart, three hospitals”. In the future, it will be based on the traditional advantages of traditional Chinese medicine R & D, drive the R & D of innovative drugs, and maintain the benign development trend of new variety application and approved listing every year. Therefore, the proportion of R & D expenditure in the total sales quota of the company is not lower than 5% in the three periods.
The assessment system of the company’s incentive plan is comprehensive, comprehensive and operable, and the setting of assessment indicators is scientific and reasonable, so as to focus on promoting the high-quality development of the company from multiple dimensions. (Yan Yun)
