Tianyu Eco-Environment Co.Ltd(603717) 46 the first equity incentive plan after listing was launched. It is proposed to grant a total of 15 million stock options to 107 incentive objects, including directors, senior executives and middle managers, accounting for about 5.17% of the total share capital of the company. The exercise price is 9.57 yuan / share (the average trading price of the company’s shares in the first 20 trading days). The main performance unlocking conditions are: the operating revenue in 2022 is not less than 800 million yuan or the net profit is not less than 50 million yuan, From 2022 to 2023, the accumulated operating revenue shall not be less than 2 billion yuan or the accumulated net profit shall not be less than 200 million yuan, and from 2022 to 2024, the accumulated operating revenue shall not be less than 3.8 billion yuan or the accumulated net profit shall not be less than 450 million yuan.
The company said that this can further improve the corporate governance structure, establish and improve the company’s long-term incentive and restraint mechanism, attract and retain talents, fully mobilize the enthusiasm of the company’s directors, senior executives and middle-level managers, effectively combine the interests of shareholders, the company and the core team, ensure the realization of the company’s development strategy and business objectives, and make all parties pay common attention to the long-term development of the company.
According to the calculation of the company, assuming that the first authorization date is at the beginning of May this year, the total cost to be amortized is 9.084 million yuan. From 2022 to 2025, 3.176 million yuan, 3.636 million yuan, 1.856 million yuan and 416000 yuan will be amortized each year respectively. In 2020, the company achieved an operating income of 583 million yuan and a net profit attributable to the parent company of – 157 million yuan; The company is expected to continue to suffer losses in 2021, with a net profit of about – 250 million yuan to – 170 million yuan.
Tianyu Eco-Environment Co.Ltd(603717) also decided at the same time to increase capital by 160 million yuan in cash together with Luo Weiguo, the controlling shareholder of the company, according to their current shareholding ratio in Shanghai Tianqian Food Co., Ltd., including 120 million yuan for the company and 40 million yuan for Luo Weiguo. After the capital increase of RMB 75 million, the proportion of the holding company in Shanghai will increase to 400 million. The company said that Shanghai Tianqian is an important holding subsidiary of the company and the implementation subject of the company’s ecological animal husbandry sector and food sales. This capital increase is conducive to enhancing its financial strength, promoting development, and strengthening the company’s control and management.
