On March 9, Advanced Micro-Fabrication Equipment Inc.China(688012) ( Advanced Micro-Fabrication Equipment Inc.China(688012) , SH) released the 2022 restricted stock incentive plan (Draft), which plans to carry out a 4 million share incentive plan. Taking the operating income in 2021 as the base, the assessment objectives of operating income growth rate of no less than 20%, 45%, 70% and 100% were set from 2022 to 2025, and the ladder ownership assessment mode was set.
The reporter of the daily economic news noted that the stock incentive plan of Advanced Micro-Fabrication Equipment Inc.China(688012) covers a total of 1104 people, accounting for 99.37% of the total number of employees of the company.
\u3000\u3000 “In the context of increasingly fierce competition in the semiconductor equipment industry where the company is located, the stability of the company’s team and the recruitment of excellent talents are important guarantees for the sustainable and healthy development of the company. This incentive plan is the second phase of equity incentive plan after the company’s listing. The award price of this incentive plan summarizes the experience of the first phase of incentive plan after the company’s listing, which is conducive to the company to grasp the flexibility of talent incentive And effectiveness, which can help the company take the initiative in the competition for outstanding talents in the industry and continuously enhance its core competitiveness. ” Advanced Micro-Fabrication Equipment Inc.China(688012) indicates.
incentive plan covers more than 99% of employees
For a long time, Advanced Micro-Fabrication Equipment Inc.China(688012) has a wide range of equity incentive coverage for employees. The incentive plan for 2022 is Advanced Micro-Fabrication Equipment Inc.China(688012) the second time that equity incentive is planned, and the previous one is 2020. At that time, the total number of Advanced Micro-Fabrication Equipment Inc.China(688012) incentive objects was 700, accounting for 91.86% of the total number of employees of the company at that time.
According to Advanced Micro-Fabrication Equipment Inc.China(688012) announcement, the incentive plan intends to grant 4 million restricted shares to the incentive object, accounting for about 0.649% of the total share capital. This grant is a one-time grant without reserved rights and interests.
Specifically, Yin Zhiyao, Du Zhiyou, Zhu Xinping, Ni Tuqiang, Chen Weiwen and Liu Xiaoyu will receive 337500 shares, accounting for 8.44% of the grant proportion; Yang Wei, Li Tianxiao and Mai Shiyi will receive 61400 shares, accounting for 1.54% of the grant proportion; The remaining 3.6 million shares will be granted to other 1095 employees, accounting for about 90% of the grant proportion.
The grant price of this restricted stock is 50 yuan per share. As of the closing on March 9, Advanced Micro-Fabrication Equipment Inc.China(688012) share price closed at 128.14 yuan / share.
For the grant price, Advanced Micro-Fabrication Equipment Inc.China(688012) means: “The pricing of this equity incentive plan is based on the principle of restraint and reciprocity, comprehensively considers the effectiveness of the incentive plan and the impact of the company’s share based payment expenses, reasonably determines the scope of incentive objects and the number of granted rights and interests, will not have a negative impact on the company’s operation, reflects the actual incentive demand of the company, is reasonable, and the future income of incentive objects depends on the company The company’s future performance development and secondary market share price. “
wants to double the revenue in 2025 compared with last year
According to the incentive draft of Advanced Micro-Fabrication Equipment Inc.China(688012) , this round of incentive plan plans to set up four assessment periods, from 2022 to 2025, with the assessment index of operating income and the assessment base of operating income in 2021p align=”center” style=”text-align:center;”> Image source: Advanced Micro-Fabrication Equipment Inc.China(688012) announcement screenshot
According to the assessment objectives, by 2025, the growth rate of operating revenue will also be divided into three levels. If the growth rate of operating revenue is greater than 100%, the ownership proportion at the company level will account for 100%; If the operating income is between 75% and 100%, the ownership proportion at the company level will be reduced to 80%; If the growth of operating income is less than 75%, the ownership proportion at the company level will be reduced to 0.
In addition to the assessment at the company level, Advanced Micro-Fabrication Equipment Inc.China(688012) also sets performance assessment requirements at the individual level. The final number of shares an individual can obtain is determined by the product of company factors and individual factors. In other words, if Advanced Micro-Fabrication Equipment Inc.China(688012) the growth rate of operating revenue in 2025 does not reach 75%, all employees will not be able to obtain the shares of the current period.
\u3000\u3000 “When the macro-economy and the demand of the end consumer market change greatly, it may have a certain impact on the company’s operating revenue. Under this background, according to the development characteristics and actual situation of the industry, taking the operating revenue in 2021 as the base, the company has set the assessment objectives of operating revenue growth rate of no less than 20%, 45%, 70% and 100% from 2022 to 2025, and set the ladder attribution assessment Mode to realize the dynamic adjustment of performance growth level and equity ownership proportion. The above indicators comprehensively consider the company’s historical performance and future development plan on the basis of combining the company’s industry conditions, which is conducive to maintaining the company’s competitiveness and promoting the realization of the company’s strategic objectives. ” Advanced Micro-Fabrication Equipment Inc.China(688012) indicates.
“In recent years, the overall prosperity of the global semiconductor industry has improved. The company’s operating revenue in 2020 and 2021 exceeded 2.2 billion yuan and 3.1 billion yuan respectively (the announced value of the company’s 2021 performance express) , the company’s operating income has maintained a sustained growth in recent years. The semiconductor equipment industry is an industry with a high degree of globalization. Its development presents certain periodic fluctuations due to the impact of international economic fluctuations, semiconductor market and end consumer market demand. ” Advanced Micro-Fabrication Equipment Inc.China(688012) scale.
The reporter of the daily economic news noted that if the revenue base of Advanced Micro-Fabrication Equipment Inc.China(688012) 2021 is 3.1 billion yuan, the assessment objectives of operating revenue in 2022 and 2023 are about 3.7 billion yuan and 4.5 billion yuan respectively.
According to the data, several seller’s research institutions predict the consistency of operating revenue in Advanced Micro-Fabrication Equipment Inc.China(688012) 2022 by about 4.326 billion yuan, of which Soochow Securities Co.Ltd(601555) prediction is the lowest, about 3.466 billion yuan Boc International (China) Co.Ltd(601696) has the highest forecast, about 4.607 billion yuan. However, the seller’s research institutions predict the consistency of operating revenue in Advanced Micro-Fabrication Equipment Inc.China(688012) 2023 to be about 5.82 billion yuanp align=”center” style=”text-align:center;”> Image source: Advanced Micro-Fabrication Equipment Inc.China(688012) announcement screenshot
It is worth noting that according to current estimates, the stock incentive plan of Advanced Micro-Fabrication Equipment Inc.China(688012) will bring about 328 million yuan of amortization cost of restricted shares. This part of amortization cost will be amortized from 2022 to 2026, of which the amortization in 2022 and 2023 is higher, about 126 million yuan and 109 million yuan respectively.
