On the evening of February 28, Sto Express Co.Ltd(002468) disclosure announcement replied to the inquiry letter received by the “Employee Stock Ownership Plan”. 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 the long-term development as the goal, and take the equity payment part of the salary incentive as the basic way to realize the equal emphasis on Incentive and restraint.
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.
Industry insiders believe that 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 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”. According to the foregoing insiders, 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. The production capacity and small-scale Sto Express Co.Ltd(002468) bargaining power are small, and there is considerable uncertainty about whether it can “stabilize the market” in a short time.
According to statistics, although the exercise price of this Sto Express Co.Ltd(002468) 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 period of up to 36 months, such as Sf Diamond Co.Ltd(300179) , Tiza Information Industry Corporation Inc(300209) , Anhui Korrun Co.Ltd(300577) , Beijing Forever Technology Co.Ltd(300365) , Juneyao Airlines Co.Ltd(603885) and other enterprises set a minimum lock period of 12 months.
As the once big brother of the express industry, Sto Express Co.Ltd(002468) whether it is “up” or “down” has aroused heated debate. In 2021, Sto Express Co.Ltd(002468) performance fell into a loss of nearly 1 billion yuan. However, in the fourth quarter of 2021, the operating profit of the company realized profit, the profitability rebounded, and the actual operating condition was improving. In December 2021, the market share of the company reached 11.25%, a new high in 17 months, and the business expansion was also relatively strong.
In the first year of 2022, Sto Express Co.Ltd(002468) started the mode of “strengthening infrastructure”. Following the completion of 47 capacity projects in 2021, the company announced that more than 60 capacity improvement projects would be implemented in 2022, and proposed to strengthen reform and thorough reform, never make repairs, promote “visible changes” in Shentong, and realize short-term stability, medium-term improvement and long-term revitalization.
Sto Express Co.Ltd(002468) president Wang Wenbin previously revealed in an interview 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.
