In response to the inquiry letter sent by Shenzhen Stock Exchange to Sto Express Co.Ltd(002468) on the “Employee Stock Ownership Plan”, on the evening of February 28, Sto Express Co.Ltd(002468) issued an announcement and replied that the overall salary structure of the company is relatively single, and the salary situation is at a relatively low level in the industry as a whole. This plan aims to further improve the company’s medium and long-term incentive mechanism, take long-term development as the goal, establish a salary incentive system based on equity cashing part of salary incentive, pay equal attention to incentive and restraint, and improve the company’s core competitiveness.
According to the announcement, Sto Express Co.Ltd(002468) ESOP has set up a “double assessment” of the company’s performance and personal performance, which can only be exercised 36 months after reaching the standard, which has a strong meaning of “binding” the core backbone personnel with the company’s future development for a long time and stabilizing the company’s senior managers. As for whether the assessment standard at the company level is high or low, the announcement said it was “challenging”.
“Under the condition of fierce market competition, it is a big move for many listed companies to retain talents and turn over performance through strong incentives and assessment.” An industry analyst believes that Sto Express Co.Ltd(002468) in recent years, the organization and management personnel have been adjusted greatly. Locking these people marks the company’s affirmation of the current governance model and management team, which is conducive to the company’s future development. He also stressed that Sto Express Co.Ltd(002468) although it has been “on the rise” since the second half of last year, all express delivery companies have put forward the goal of steadily increasing the market share. The capacity and small-scale Sto Express Co.Ltd(002468) bargaining power are weak, and there is uncertainty about whether it can “stabilize the market” in a short time.
Sto Express Co.Ltd(002468) relevant person in charge said that although the company’s performance in 2021 is expected to suffer a significant loss, looking at the operating profit in the fourth quarter, the actual operation is improving. The market share reached 11.25% in December 2021, a new high in 17 months. At the beginning of this year, the company started the “strong infrastructure” mode. Following the completion of 47 capacity projects in 2021, more than 60 capacity improvement projects will be implemented in 2022. It is proposed to strengthen reform and thorough reform, never make repairs, promote “visible changes” in Shentong, and achieve short-term stability, medium-term improvement and long-term recovery.
