On January 4, the recent announcement of the first demon stock Andon Health Co.Ltd(002432) in the two cities granted 7.37 million stock options to 353 eligible incentive objects at an exercise price of 6.49 yuan / share.
Due to the expected hot sales of covid-19 antigen home self-test kit in the United States, Andon Health Co.Ltd(002432) share price soared from November 15 last year. First, there was a wave of 11 day 10 limit, followed by a wave of 14 day 11 limit, with an increase of 8 times in two months, and the latest report was 51.85 yuan / share.
This also means that as soon as the company’s stock options are granted, the profit space has reached seven times, 7.27 million options, with a total profit space of 334 million yuan and 950000 yuan per capita. In terms of exercise conditions, the revenue in 2022 in the first exercise period will increase by no less than 40% compared with that in 2019, while the revenue in the first three quarters of 2021 has increased by 54% compared with that in the first three quarters of 2019, that is, as long as the revenue in 2021 can be maintained in 2022, the exercise conditions can be met.
demon stock grant option
7 times profit space
According to Andon Health Co.Ltd(002432) announcement, on January 4, 2022, the company passed the proposal on granting stock options to incentive objects of 2021 stock option incentive plan. The independent directors of the company issued independent opinions, the board of supervisors issued verification opinions, and Beijing BOC law firm issued corresponding legal opinions.
The board of directors considered that the grant conditions stipulated in the stock option incentive plan were mature and agreed to grant 7.37 million stock options to 353 incentive objects who met the grant conditions. The authorization date is January 4, 2022. The exercise price of the stock option granted this time is 6.49 yuan / share, and the stock source is the company’s A-share common stock issued to the incentive object.
The maximum period of validity of the incentive plan shall not exceed 64 months, which is divided into four exercise periods. The first stock option can be exercised after 16 months from the date of grant.
Recently Andon Health Co.Ltd(002432) due to the take-off of the stock price of covid-19 antigen home self-test kit concept, the stock price increased by as much as 8 times in two and a half months. First, in the second half of November last year, there was a wave of 11 day 10 limit, which briefly fluctuated for seven or eight trading days, and then there was a second wave, which closed at 14 day 11 limit, with an increase of 8 times in two months. On January 4, it closed at 51.85 yuan / share.
This also means that at present, once the company’s stock option is granted at 6.49 yuan / share, the profit space has reached 7 times. 7.27 million options, with a total profit space of 334 million yuan and a per capita profit space of 950000 yuan, nearly one million.
From the perspective of exercise conditions, this equity incentive only sets a single indicator of operating income assessment, which is not too difficult. Basically, it can be maintained at the same level as the operating income in 2021 in 2022.
Specifically, in the first exercise period, the revenue in 2022 is required to increase by no less than 40% compared with that in 2019, while the revenue in the first three quarters of 2021 has reached 790 million yuan, an increase of 54% compared with the first three quarters of 2019. Therefore, it is not difficult for the revenue in 2021 to increase by more than 40% compared with that in 2019. If the revenue in 2022 is the same as that in 2021, the exercise conditions can be met.
It is worth mentioning that the equity incentive will generate an expense of 5.32 million yuan, which needs to be amortized in the management expenses in the next few years.
stock price anti package failed
As the first demon stock in the two cities recently, Andon Health Co.Ltd(002432) began to show fatigue.
Last Friday, the last trading day in 2021, when retail investors flocked to buy, the limit fell in the wake of San Yang Ma (Chongqing) Logistics Co.Ltd(001317) . On the first trading day of the year on January 4, in the case of the collective climax of traditional Chinese medicine stocks and covid-19 concept pharmaceutical stocks, their share prices fluctuated widely throughout the day and failed to reverse the negative line of the previous trading day. On that day, several benchmark stocks such as Kunming Longjin Pharmaceutical Co.Ltd(002750) , Jinghua Pharmaceutical Group Co.Ltd(002349) , Zhejiang Jianfeng Group Co.Ltd(600668) continued to rise strongly.
Andon Health Co.Ltd(002432) hot speculation is mainly due to the expectation that its covid-19 antigen home self-test kit will sell well in the United States, but in fact, the sales of the company’s products in North America are not exclusive, and the number of enterprises that have obtained sales qualification certification in the short term is increasing rapidly.
It is reported that at present, a total of 12 companies’ home self-test kit products have been authorized by the U.S. fdaeua. In the future, it is not ruled out that more companies will obtain the authorization and enter this market segment. With the change of market competition situation, the existing market share and product price of a single enterprise may be impacted. Compared with European countries, BPharm in Germany has approved the products of 20 companies.
In addition, from the company’s previous risk warning announcement, although the company does not lack capacity, the sales situation is not as optimistic as the market thinks. From the sales of Amazon platform, as of December 20, us time, the sales amount of the company’s kit products on Amazon US platform was US $27.27 million, accounting for about 17% of the overall sales amount of the company’s kit at that time, while the collection amount was only US $656000.
It is worth mentioning that on December 28 local time, the U.S. Food and Drug Administration (FDA) pointed out that the domestic covid-19 rapid detection kit may not be able to detect the Omicron variant. The FDA said in a statement that a study conducted by the agency in cooperation with the National Institutes of Health (NIH) showed that household testing tools were less sensitive to highly infectious Omicron virus, so that false negative results may occur.
(China Fund News)
