Incident: The company plans to launch the second phase of the employee stock ownership plan
The company issued an indicative announcement on March 15. In order to improve the company's incentive system, enhance the cohesion of the company's employees and the company's competitiveness, the company plans to launch the second phase of the employee stock ownership plan. The total number of shares held in this employee stock ownership plan shall not exceed 10% of the company's total share capital, and the shareholding ratio of a single employee shall not exceed 1% of the company's total share capital. The company's current employee shareholding plan is still in the planning stage, and subsequent implementation requires approval from the board of directors and shareholders' meetings.
The re-launch of the employee stock ownership plan is expected to strengthen the company's incentive system
The company previously implemented the first employee stock ownership plan in March 2016. The cumulative number of company shares purchased accounted for 0.9741% of the total share capital. It was completed through bidding transactions in the secondary market. The lockdown period for stock purchases was 12 months. The company is now once again planning employee shareholding, which is expected to further improve the company's incentive system, establish a long-term incentive mechanism, motivate employees' enthusiasm and creativity, enhance the company's internal cohesion and market competitiveness, and improve the company's operating efficiency.
Expanding the military materials market based on scientific research advantages
In recent years, based on its technological leadership, the company signed strategic cooperation agreements with the China Academy of Ordnance Research and the China Shipbuilding Industry Corporation Research Institute to vigorously develop new materials such as high-performance aluminum alloys. At the bidding and evaluation meeting for a certain type of aluminum alloy plate project held by the China Academy of Ordnance Science in 2016, the company won first place in the project tender, successfully won the bid, and successfully expanded the market in the field of new military materials. The company plans to complete relevant certifications and become an official military product R&D and manufacturer to improve the quality and profitability of its products.
The production line is gradually maturing, and the operation continues to improve
According to the company's 16-year performance report, after 16 years of run-in with the company's newly launched production line, the product excellence rate gradually increased, leading to an increase in the company's profit level. The sales volume of the company's various products has also increased. Business revenue is expected to increase year-on-year throughout the year, and the profit situation has improved markedly. At the same time, the company relies on Feierkang Rapid Manufacturing Technology Co., Ltd. as an industrialization platform. The subsidiary has deployed 3D printing technology. Mass production of some process equipment has already begun, and orders have been accepted, making it profitable.
Driven by industry trends, the company's 3D printing and other related businesses are expected to usher in a period of rapid revenue and profit growth.
The employee stock ownership plan is expected to help the company develop, maintain that the company “buys” the rating company plans to strengthen the incentive mechanism through the second phase of the employee stock ownership plan, and the profit of the project has gradually improved after delivery. The prospects for the future development of the 3D printing business are broad. The company's revenue in 2016-2018 is estimated to be 1,565, 24.06, and 3.188 billion yuan respectively, and the EPS is 0.01, 0.21, and 0.33 yuan respectively, corresponding to the current PE being 850 times, 46 times, and 29 times. Risk warning of maintaining the company's “buy” rating: demand for downstream products falls short of expectations; production line launch falls short of expectations.