On February 14, Sto Express Co.Ltd(002468) ( Sto Express Co.Ltd(002468) , 002468) released the first phase of employee stock ownership plan (Draft).
The announcement said that the stock source of Sto Express Co.Ltd(002468) phase I employee stock ownership plan (hereinafter referred to as “Employee Stock Ownership Plan”) is the shares repurchased by the company’s special account for repurchase, with a total of no more than 19559900 shares, accounting for 1.28% of the company’s current total share capital, of which 14356400 shares are used for employees participating in the employee stock ownership plan for the first time, The remaining 5.2035 million shares will be transferred as reserved shares within the time specified in the employee stock ownership plan. The purchase price of repurchased shares under the employee stock ownership plan is 1 yuan / share.
The objects of the ESOP are directors, senior managers, core managers and key employees who are recognized by the board of directors as having an important role and impact on the overall performance and medium and long-term development of the company. The total number of employees participating in this ESOP is no more than 124 (excluding reserved shares). After the implementation of the employee stock ownership plan, the total number of shares held by all effective employee stock ownership plans of the company shall not exceed 10% of the total share capital of the company, and the total number of shares corresponding to the share rights and interests obtained by a single employee shall not exceed 1% of the total share capital of the company.
Eight directors and senior managers plan to subscribe for a total of 5.4667 million shares, accounting for 27.95% of the total share of the employee stock ownership plan. Among them, Wang Wenbin, the director and general manager of the company, Han Yongyan, the director and deputy general manager, and Liang Bo, the deputy general manager and financial person in charge, plan to subscribe for 2.9812 million, 1.2297 million and 745300 copies respectively, accounting for 15.24%, 6.29% and 3.84% of the total share of the employee stock ownership plan. Core management personnel and core backbone personnel (no more than 116 people) plan to subscribe for 8889700 shares, accounting for 45.45% of the total share of the employee stock ownership plan
Sto Express Co.Ltd(002468) share proportion of employees participating in stock ownership plan
In addition, the announcement said that in order to support the sustainable development of the company and attract and retain excellent talents, 5.2035 million shares were reserved in the employee stock ownership plan. The subscription time of reserved shares is before December 31, 2023. If the employee plans to have no qualified employees subscribe for reserved shares within the subscription time period of reserved shares or the reserved shares are not fully distributed, the remaining reserved shares will be invalidated by the company.
For the explanation of the purchase price and rationality of the ESOP, the announcement said that the main purpose of adopting the way of discount transfer and repurchase of treasury shares is to enhance the confidence of the granted employees, fully mobilize their enthusiasm, and maintain and further strengthen the advantages of the company’s lean management. In recent years, the express industry is facing fierce market competition, the express unit price continues to decline, and the profitability of express enterprises is affected to a certain extent.
According to the announcement, Sto Express Co.Ltd(002468) was established in 1993 and is one of the first batch of private express enterprises. The participants determined this time are composed of three parts, one of which bears the major responsibility of formulating the company’s development strategy and leading the company’s forward direction; Part of the participants are the direct persons in charge of the company’s business unit and management, promoting business development and management refinement; There are also some participants who are responsible for the company’s key projects and important work to promote the implementation of projects and the effective implementation of business. These three participants play an important role in the development of the company. The incentive through the discount grant of the employee stock ownership plan is intended to further improve the company’s medium and long-term incentive mechanism, consolidate the foundation of the human resources system, and focus on key employees and key incentives to retain and motivate this part of the core talents, so as to avoid the competition for talents by peers.
According to the previous statistics of surging news, the market share of Sto Express Co.Ltd(002468) in the third quarter of 2021 was 10.25%, ranking fourth after Yto Express Group Co.Ltd(600233) , Zhongtong express and Yunda Holding Co.Ltd(002120) . In December, the market share of the company rose to 11.25% in a single month, a new high in the past 17 months.
According to the performance forecast released on Sto Express Co.Ltd(002468) January 28, the operating revenue is expected to be 24.1 billion yuan to 26.5 billion yuan in 2021 and 21.566 billion yuan in the same period in 2020. The net profit attributable to shareholders of Listed Companies in 2021 was – 840 million yuan to – 950 million yuan, and the profit in the same period in 2020 was 36 million yuan.
As for the reasons for the performance loss in advance, the announcement mentioned that some assets showed signs of impairment in 2021, including the disposal and impairment of fixed assets of about 76 million yuan and the provision for goodwill impairment of assets such as acquisition transfer centers of about 700 million yuan. Due to the changes in the express market in 2021, Sto Express Co.Ltd(002468) the company’s asset investment and the provision of asset impairment, the annual performance is still under pressure. If the impact of asset impairment is excluded, the company’s performance in the fourth quarter of 2021 is expected to be profitable.
As of the closing on February 14, Sto Express Co.Ltd(002468) was reported at 8.67 yuan, down 3.77%.
