\u3000\u3000 Inkon Life Technology Co.Ltd(300143) (300143)
Events
On January 11, 2022, the company announced the restricted equity incentive plan for 2022. The total amount of restricted shares to be granted to 131 incentive objects in the incentive plan was 4.189 million shares, accounting for about 0.65% of the total share capital of the company at the time of announcement of the draft incentive plan.
The pressure and motivation of assessment objectives coexist, and equity incentive shows performance confidence
According to the setting of performance indicators of the incentive plan, the company will assess the growth rate of operating revenue from 2022 to 2024 based on the operating revenue in 2021. Compared with the target revenue growth rate of 2021, the operating revenue of each assessment year from 2022 to 2024 shall not be less than 30%, 69% and 120% respectively, and the trigger revenue growth rates are 20%, 44% and 73% respectively. The performance indicators are set in combination with the actual situation of the company, in line with the future strategic planning and the development of the industry and other factors. The pressure and power coexist to highlight the development confidence of the company.
It is expected to fully mobilize the enthusiasm of employees and promote the long-term and stable development of the company
The grant price of restricted shares in the incentive plan is 7.27 yuan / share, and the total number of incentive objects granted is 131, including directors, senior managers and core backbone employees who served in the company when the company announced the incentive plan. Among them, there are 5 directors and senior managers and 126 core backbone employees. The shares of the company granted to the incentive objects during the validity of the incentive plan do not exceed 1.00% of the total share capital of the company. The implementation of this equity incentive plan is expected to further improve the company’s long-term incentive mechanism, attract and retain talents, fully mobilize the enthusiasm of the company’s core team, effectively bind the interests of shareholders, the company and the personal interests of the core team, and strive for the long-term development of the company.
The improvement of the company’s medical service network + the upgrading of medical device products is expected to drive performance growth
On the medical service side, the pace of the company’s hospital network layout is accelerated. Considering that Suzhou Guangci hospital will contribute to the performance in 2021, and the successive trusteeship of Shanxi Yuncheng hospital will bring certain income to the company. At the medical device end, considering the accelerated type inspection of masip linear accelerator project, the whole body knife has been locked in the type test hospital, ready to ship the equipment, and is preparing for the type test. In addition, the introduction of this equity incentive plan will effectively catalyze the performance expectations. Our forecast of the company’s operating revenue from 2021 to 2023 is increased to RMB 1147 / 167 / 1966 million (the previous value is RMB 684 / 1431 / 1717 million), and the forecast of net profit attributable to the parent company is increased to RMB 170 / 266 / 326 million (the previous value is RMB 131 / 143 / 157 million), maintaining the “buy” rating of the company.
Risk tip: the progress of R & D is not as expected, the risk of policy uncertainty in the pharmaceutical industry and the risk of repeated epidemic.
