Event: century Huatong released the 2022 employee Stock ownership Plan (draft). The total number of shares in the employee stock ownership plan is no more than 97.434 million shares, accounting for about 1.3% of the current total share capital of the company, with a duration of 60 months.
Employee stock ownership or stimulate the vitality of the enterprise, benefit sharing or conducive to long-term development. The total number of participants in this employee stock ownership plan does not exceed 100 (excluding reserved shares), including 4 directors and senior managers. The shares are derived from Century Huatong A shares in the company's special buyback account, with a total of no more than 97.434 million shares (about 1.3 per cent of the current company's total share capital), with a transfer price of 0 yuan per share, of which 43.845 million shares are proposed to be reserved for 45 per cent of the total planned shares. The implementation of this plan may establish a long-term incentive mechanism to promote the sharing of interests between employees and the company, and fully mobilize employees' initiative, enthusiasm and creativity, which is expected to promote the long-term and healthy development of the company.
"Qingyu years" online performance is eye-catching, pay attention to the follow-up game launch progress. In March 2022, the mobile game "Qingyu year" topped the list of the first month of IP new games in 2022. Classic works such as "final Fantasy 14" in long-term operation continue to contribute stable flow, and the long-term performance of games in the future is worth looking forward to. "Legend World", "Dragon Valley World", "Journey of the forgotten (Code: expedition)", "Battle of the Gods", "Lyra" and "Enigmite's Prophecy"
The reserve of new tourism and other categories is rich, and the follow-up commercial rhythm is worthy of attention.
The field of auto parts has accumulated profoundly, and the growth point of cloud data business has emerged. The company has won leading customers in the automotive industry in North America, such as new energy benchmark car companies, XPeng Inc., NIO Inc., Volkswagen, GM, Geely, BYD, etc., and grasp the reform cycle of the new energy automobile industry. In terms of cloud data, he deeply participated in the Tencent Yangtze River Delta project and completed the delivery of nearly 10,000 cabinets; the data security business landed in cooperation with Visteon. The company has integrated into a "Cloud data Center Division" to help the company speed up the integration of IDC resources, competitiveness may be further demonstrated.
Profit forecast and investment advice. It is estimated that the net profit from 2022 to 2024 is 2 billion yuan, 2.76 billion yuan and 3.42 billion yuan respectively, and the corresponding PE is 17 times, 12 times and 10 times respectively. Considering that the company will usher in the product year in 2022, the follow-up reserve projects are rich, the integration of IDC business is accelerated, and the overlay plate valuation repair is superimposed, the employee stock ownership plan may increase the enthusiasm of core employees, which is conducive to the long-term development of the company and maintain its "buy" rating.
Risk hints: the risk that the development of the industry is less than expected, the risk of macroeconomic fluctuations, and the risk that new games are not as good as expected.