On the evening of the 28th, Sto Express Co.Ltd(002468) issued an announcement to respond to the inquiry letter of the 22nd Shenzhen Stock Exchange: 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. The purpose of this plan is to further improve the company’s medium and long-term incentive mechanism, take the long-term development as the goal, take the equity payment part of the salary incentive as the basic way, and realize the equal emphasis on Incentive and restraint.
On February 22, Shenzhen Stock Exchange issued an inquiry letter to Sto Express Co.Ltd(002468) on the “Employee Stock Ownership Plan”, asking questions on hot topics in the market and investors. According to the announcement, Sto Express Co.Ltd(002468) employee stock ownership plan has set up “double assessment” of company performance and individual 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 and stabilizing the company’s senior managers.
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 incentive and assessment. Relevant industry analysts believe that Sto Express Co.Ltd(002468) in recent years, the organization and management personnel have been greatly adjusted. 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.
As for whether the assessment standard at the company level is high or low, the announcement said it was “challenging”. The above industry analysts said that Sto Express Co.Ltd(002468) although it has been “on the rise” since the second half of last year, each express has put forward the goal of steadily increasing the market share. With small production capacity and small-scale Sto Express Co.Ltd(002468) bargaining power, there is considerable uncertainty about whether it can “stabilize the market” in a short time.
It is noteworthy that although the exercise price of this continuous plan is low, compared with the cases of low exercise price of 0 yuan and 1 yuan in recent years, it has set a long lock-in period of up to 36 months, while other cases are mostly 12 months.
As the “big brother” in the express industry, especially after the acquisition of Baishi express, Sto Express Co.Ltd(002468) whether it is “up” or “down” has aroused widespread concern and discussion. Although Sto Express Co.Ltd(002468) 2021’s performance fell into a loss of nearly 1 billion yuan, its Q4 operating profit realized a profit, which reflected that the actual operation was improving. In December 2021, the market share reached 11.25%, a new high in 17 months, and the business expansion was also relatively strong.
At the beginning of this year, Sto Express Co.Ltd(002468) started the “strong infrastructure” mode. After completing 47 capacity projects in 2021, strong officials announced that more than 60 capacity improvement projects would be implemented in 2022. They 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.
Sto Express Co.Ltd(002468) president Wang Wenbin previously revealed in relevant interviews that Shentong will adhere to seeking progress in stability and long-term ism. In the next three years, Shentong will invest about 10 billion yuan in capacity improvement projects. The lock-in period of this shareholding plan is also three years. I believe this is not just a coincidence.
