Does Chinese Online create an equity incentive plan for three executives? Inquiry letter issued by Shenzhen Stock Exchange

Does Chinese Online create an equity incentive plan for three executives? Inquiry letter issued by Shenzhen Stock Exchange
On March 10th, Chinese Online, which recently issued the “Stock Incentive Plan”, received an inquiry letter issued by the Shenzhen Stock Exchange. The three incentive objects of the director, executive deputy general manager and deputy general manager and secretary of the board of directors were all awarded shares this time.Accounted for 1% of the company’s share capital, is it a special equity incentive plan for three executives?Special equity incentive plan for senior executives? Voluntary pricing is questioned On March 6, Chinese Online released the “Stock Budget Incentive Plan”, which plans to grant 3636 stock compensation to the incentive target.480,000 copies, approximately 72729 shares of the company’s total share capital at the time of the announcement of the plan budget.5% of 530,000 shares.The stock budget expenditures involved in this plan are awarded at one time.There were 34 incentive targets for this offering, including director Zhang Fan, executive deputy general manager Xie Guangcai and deputy general manager and secretary of the board of directors Wang Jingjing. The number of stock investments granted by the three was replaced by 727.29.53 million copies, accounting for 20% of the total share budget granted, and 1% of the total share capital on the announcement date of this plan, with a market value of 28 on March 10.Calculated by USD 7.3 billion, the market value corresponding to the budget obtained by the above three executives is as high as 28.73 million respectively.Market participants said to Sauna and Yeewang that the fair incentives obtained by a single person accounted for 20% of the additional stock investment. This situation is not common in the market, but it is not illegal.In addition to the three executives occupying 60% of the share of equity incentives, independent pricing has also received considerable attention.The announcement shows that considering the recent secondary market transition, and the company’s current transition of the incentive plan’s cycle span, in order to promote the smooth implementation of the current incentive plan, the company plans to adopt automatic pricing.The incentive price of the incentive target ‘s stock budget is reduced by 3 yuan, that is, under the vertical condition that meets the exercise conditions, each share compensation granted by the incentive target can purchase 1 share of the company ‘s stock at a price of 3 yuan.The Shenzhen Stock Exchange requires Chinese online to further explain the rationale of the automatic pricing method and the rationality of the pricing method for the exercise price of the stock budget in conjunction with the company’s operating conditions, whether it is conducive to the sustainable development of listed companies, whether there is a benefit transfer, and whether it harms the interests of listed companiesAnd the interests of shareholders.The announcement shows that the waiting period for the stock budget rewarded by this plan is 24 months, 48 months, 72 months and 96 months from the date of approval registration.That is to say, after 8 years, the first equity incentive object can only exercise.The market participants stated that the general equity incentive exercise time is 3-5 years.After losing for two consecutive years, the company sold its subsidiaries and turned losses into losses. On February 28, Chinese Online released a performance forecast. The performance forecast showed that the report was related and the company achieved operating income of 70764.530,000 yuan, a decrease of 20 from the same period last year.08%; the net profit attributable to shareholders of the listed company is -57668.850,000 yuan, an increase of 61 compared with the same period last year.77%.This is the second year of Chinese online correction. In 2018, Chinese online replaced 15.08 million, the impairment of goodwill is a preliminary preliminary of Chinese online.Chinese Online had spent 17.2.3 billion shares acquired 100% equity of Shanghai Chenzhike Information Technology Co., Ltd. (hereinafter referred to as “Chenzhike”) and entered the game industry.The profit compensation obligor promised that Chenzhike ‘s net profits in 2017, 2018 and 2019 (the net profits attributable to the parent company after replacing non-recurring gains and losses) shall not be less than 150 million yuan, 220 million yuan and 264 million yuan respectively.The announcement on December 12, 2019 showed that due to changes in the regulatory environment in 2018, the release of the game version number was suspended, and the new games of Chenzhike could not be launched and run normally, and gradually the old games gradually entered the end of the life cycle, and the profitability deteriorated seriously, so 2018The reduction of Nianchenzhi Branch replaced the promised performance.Out of prudence, Chinese Online in 2018 made an impairment on the goodwill formed by the acquisition of Chenzhike.US $ 5.4 billion, designed to identify impairment provisions for identifiable intangible assets1.8.9 billion yuan, total provision for asset impairment is 14.4.3 billion yuan.On December 12, 2019, Chinese online pricing 3.2.4 billion sold 100% equity of Chenzhike to “rush performance”.The 2019 performance forecast shows that due to the influence of policy factors in the gaming industry, Chenzhike is in a state of substitution, and its operating conditions continue to deteriorate.The assets of Chenzhike are potentially impaired.It is initially estimated that the net profit of Chenzhike after asset impairment will affect the company’s 2019 consolidated net profit by -29340.260,000 yuan.Sauna, Ye Wang Zhang Yanbian editor Wang Jinyu school against Chun Zeng