The share price soared 8 times Andon Health Co.Ltd(002432) in 40 trading days. The equity incentive plan for 2021 was issued on January 4, 2022. From now on, 7.37 million stock options were granted to 353 people at an exercise price of 6.49 yuan / share. The company closed at 51.85 yuan / share on January 4, which also means that the profit space of incentive objects is nearly 7 times.
As of the afternoon of January 5, Andon Health Co.Ltd(002432) shares had fallen by the limit to 46.67 yuan / share, with a turnover rate of 12.12%, more than 25% higher than the high of 59 yuan / share on December 31.
assessment objective is low, not high
According to the announcement, on January 4, 2022, Andon Health Co.Ltd(002432) passed the proposal on granting stock options to incentive objects of 2021 stock option incentive plan. The board of directors of the company considers that the grant conditions specified in the stock option incentive plan are mature and agrees to grant 7.37 million stock options to 353 incentive objects who meet the grant conditions. The authorization date is January 4, 2022, and the exercise price is 6.49 yuan / share. As of the closing of the day, Andon Health Co.Ltd(002432) was reported at 51.85 yuan / share, which means that the profit space of incentive objects is nearly 7 times.
The incentive plan shall be valid for a maximum of 64 months and a minimum of 52 months, divided into four exercise periods. The first exercise period starts from the first trading day after 16 months from the grant date to the last trading day within 28 months from the grant date, and the exercise proportion is 25%.
From the perspective of exercise conditions, this equity incentive only takes operating income as a single assessment indicator. Specifically, based on the operating revenue in 2019, it is stipulated that the revenue growth rate from 2022 to 2025 shall not be less than 40%, 70%, 80% and 90% respectively. It is equivalent to that the company needs to achieve an operating revenue of about RMB 990 million in 2022 to complete the first assessment target.
China Securities Journal · China Securities Taurus reporter noted that this equity incentive is low or not high. Andon Health Co.Ltd(002432) the revenue in 2020 is 2.008 billion yuan, nearly three times that of 706 million yuan in 2019. The company achieved revenue of RMB 790 million in the first three quarters of 2021, an increase of 54% over RMB 512 million in the first three quarters of 2019.
In terms of incentive objects, the number of stock options granted to managers and directors is the largest, reaching 2.825 million, accounting for 38.33% of the total, and 0.5869% of the total share capital on the date of announcement of this grant; Backbone employees and core employees were granted 2.495 million and 1.1 million stock options respectively; 750000 awards were given to outstanding employees. Among the senior executives, Wang Yong, the director and deputy general manager, and Cong Ming, the deputy general manager, were granted 75000 shares respectively, and sun Zhe, the chief financial officer, and Wu Tong, the board secretary, were granted 25000 shares respectively. The total shares granted to the above-mentioned personnel accounted for 1.531% of the total share capital on the date of the announcement of the grant.
remind the risk again
On November 7, 2021, Andon Health Co.Ltd(002432) announced that its U.S. subsidiary covid-19 antigen home self-test kit was authorized by FDA for emergency use. Since then, the company has successively released news on the investor interaction platform that the product has been sold simultaneously at the b-end and C-end in the United States, with a monthly production capacity of 100 million people, which is expected to increase to 200 million people per month in early 2022.
On December 29, 2021, the company released the record of investor relations activities, which released good news again. According to the announcement, as of December 27, 2021 U.S. time, Andon Health Co.Ltd(002432) has received receipts (including advance payment) from U.S. governments, sales receipts from commercial customers, company website and Amazon’s U.S. sales, with a total revenue of US $167.09 million, about RMB 1.065 billion. This income has exceeded the first assessment target amount of the company’s 2021 equity incentive plan.
Affected by all kinds of good news, Andon Health Co.Ltd(002432) share price soared. Since November 15, 2021, the limit has been raised continuously. As of December 31, 23 limits have been achieved in 35 trading days, with a cumulative increase of more than 688%.
Behind the soaring share price, capital participation is indispensable. The data show that as of January 5, 2022, Andon Health Co.Ltd(002432) the total number of shareholders reached 103000, an increase of 68.85% compared with 61000 at the end of the third quarter.
However, Andon Health Co.Ltd(002432) since its listing in 2010, the deduction of non attributable net profit has been a loss for seven consecutive years from 2013 to 2019.
According to the third quarterly report of 2021, Andon Health Co.Ltd(002432) in the first three quarters, the revenue and net profit decreased by 50.82% and 86.19% year-on-year, and the net profit attributable to the parent company after deduction was a loss of 24.775 million yuan.
Andon Health Co.Ltd(002432) in the newly disclosed stock trading risk warning announcement on December 29, 2021, it is said that the company’s share price is currently at an all-time high and does not rule out the risk of falling in the future.
(China Securities Journal)
