Increased issuance of participating institutions to float 300 million Haima Motor’s equity incentives
On November 3, Haima Motor’s draft “Equity Incentive Plan†stated that the company plans to award 70.85 million restricted stock options to 177 key employees at an exercise price of 4.42 yuan per share.
On November 4, analysts expressed that if Haima Motors will award the award of equity in 2011, the conditions for exercise of equity incentives will be very low.
A researcher in the automotive field told China Capital Securities that despite the fact that the condition of exercise of equity incentives for hip-camp vehicles is very low, since the company’s “break-up†with Mazda, the company has not made any branded vehicles available from the factory. Look, Haima Motor also has no intention to develop new products, so once the auto market has turned sharply, without the support of iconic brands, whether or not the hippocampus can maintain a stable growth in performance in the future is still unknown.
Exercising conditions are too low?
How the management decides on November 3, Haima Motor’s draft “Equity Incentive Plan†stated that the company intends to award 70.85 million restricted stock options to 177 key employees at an exercise price of 4.42 yuan per share.
As soon as the draft was issued, the accusations that the exercise conditions of the equity incentives of the Haima Motors had been too low would come to an end. Some media even bluntly stated that Haima Motors is sending money to key employees.
On November 4th, an analyst said that a major factor in deciding whether the exercise of equity incentives for hippocampus is too low is to incentivize equity to be awarded in 2011 or in 2012.
Haima Motor's 2010 annual report shows that the company achieved a net profit of 374 million yuan in 2010, and the net profit after deducting non-recurring gains and losses was 129 million yuan.
Haima Motor's 3Q11 report showed that the company achieved a net profit of 231 million yuan in the first three quarters, and the net profit after deducting non-recurring gains and losses was 170 million yuan, which was 1.32 times the non-recurring gains and losses of the company in 2010.
As can be seen from the above data, if Haima Motor’s incentive share award date is in 2011, the base year for the net profit indicator is 2010.
If the base year of equity incentives is selected in 2010, even if it is 2014 (that is, the last exercise period), the net profit deducted from non-recurring gains and losses realized by Haima Auto will only be the amount of non-recurring gains and losses realized by the company in the first 3 quarters of 2011. The net profit is enough to exercise the right. Therefore, if incentive equity is granted in 2011, the exercise conditions of Haima Motor’s equity incentive will be very low.
The above analysts further stated that in the end whether the incentive grant date is in 2011 or 2012, it depends on the attitude of the hippocampal management. If the management insists on dragging the award date to 2012, it will be no difficulty, but now it is hippocampus. Judging from the conditions of exercise of equity incentives for cars, the company is likely to select the award of incentive shares in 2011. However, even if the granting date of the incentive stocks is finally in 2012, the exercise conditions of the equity incentives of Haima Motor Co., Ltd. based on the indicators of return on net assets and net profit are also low.
Will the grant day of Haima Motor’s incentive equity be in 2011?
In response, the relevant staff of the Haima Motors stated on November 4 that the company’s announcement shall prevail.
Sustained growth in performance continued to be doubtful Participating in the issuance of additional losses 323 million yuan on November 4, an investor told China Capital Securities Net that Haima Motors set the exercise price of equity incentives so low that it did not set high exercise conditions. This is clearly to send money to key employees and it does not have the effect of inspiring them.
Investors said that if Haima Automobile really cares about the rights and interests of shareholders, it should set the exercise price of incentive stocks higher, or set the conditions of exercise rights to be a bit difficult, so that it can play a role in motivating key employees. Can make the company's performance a higher level.
Regarding the exercise conditions and exercise prices of hippocampus vehicles that are too low, on November 4th, a researcher who declined to be named in the automobile field expressed to China Capital Securities Net: “I saw this incentive program as a matter of To the key employees, from the exercise price point of view, compared with Haima Motor's share price in the past two years, 4.42 yuan / share should be a very low price, the company's stock price in the 4.42 yuan / share of the decline is not much; Judging from the exercise conditions, a 15% increase in net profit after deducting non-recurring gains and losses in 2 years is not a big problem at all.â€
The above-mentioned researcher also stated: "As a well-known enterprise, we should have our own products. Since the Haima Motor broke up with Mazda, we have never made a brand car that can be remembered by the general public. Titchell, everyone knows. There are QQ, mention BYD, we can think of F3, but you are now mentioning hippocampus, we can not remember what the iconic brand car.According to the disclosure of the company's public information, Haima Motor has not made plans to design a new type of car. Therefore, although the condition of exercise of equity incentives for hip-camp cars is very low, once the market has turned sharply, it is still unknown whether the company’s performance will continue to grow without the support of iconic brands.â€
As early as October 2010, Haima Motors issued 5.99 billion additional shares to eight institutional investors at an issue price of 5.01 yuan per share.
On November 7, Haima Motors Co., Ltd. closed at 4.47 yuan per share, down 2.83%. Based on this calculation, the eight institutional investors participating in Haima Motor's 2010 additional issuance totaled a loss of 323 million yuan.
On November 4, analysts expressed that if Haima Motors will award the award of equity in 2011, the conditions for exercise of equity incentives will be very low.
A researcher in the automotive field told China Capital Securities that despite the fact that the condition of exercise of equity incentives for hip-camp vehicles is very low, since the company’s “break-up†with Mazda, the company has not made any branded vehicles available from the factory. Look, Haima Motor also has no intention to develop new products, so once the auto market has turned sharply, without the support of iconic brands, whether or not the hippocampus can maintain a stable growth in performance in the future is still unknown.
Exercising conditions are too low?
How the management decides on November 3, Haima Motor’s draft “Equity Incentive Plan†stated that the company intends to award 70.85 million restricted stock options to 177 key employees at an exercise price of 4.42 yuan per share.
As soon as the draft was issued, the accusations that the exercise conditions of the equity incentives of the Haima Motors had been too low would come to an end. Some media even bluntly stated that Haima Motors is sending money to key employees.
On November 4th, an analyst said that a major factor in deciding whether the exercise of equity incentives for hippocampus is too low is to incentivize equity to be awarded in 2011 or in 2012.
Haima Motor's 2010 annual report shows that the company achieved a net profit of 374 million yuan in 2010, and the net profit after deducting non-recurring gains and losses was 129 million yuan.
Haima Motor's 3Q11 report showed that the company achieved a net profit of 231 million yuan in the first three quarters, and the net profit after deducting non-recurring gains and losses was 170 million yuan, which was 1.32 times the non-recurring gains and losses of the company in 2010.
As can be seen from the above data, if Haima Motor’s incentive share award date is in 2011, the base year for the net profit indicator is 2010.
If the base year of equity incentives is selected in 2010, even if it is 2014 (that is, the last exercise period), the net profit deducted from non-recurring gains and losses realized by Haima Auto will only be the amount of non-recurring gains and losses realized by the company in the first 3 quarters of 2011. The net profit is enough to exercise the right. Therefore, if incentive equity is granted in 2011, the exercise conditions of Haima Motor’s equity incentive will be very low.
The above analysts further stated that in the end whether the incentive grant date is in 2011 or 2012, it depends on the attitude of the hippocampal management. If the management insists on dragging the award date to 2012, it will be no difficulty, but now it is hippocampus. Judging from the conditions of exercise of equity incentives for cars, the company is likely to select the award of incentive shares in 2011. However, even if the granting date of the incentive stocks is finally in 2012, the exercise conditions of the equity incentives of Haima Motor Co., Ltd. based on the indicators of return on net assets and net profit are also low.
Will the grant day of Haima Motor’s incentive equity be in 2011?
In response, the relevant staff of the Haima Motors stated on November 4 that the company’s announcement shall prevail.
Sustained growth in performance continued to be doubtful Participating in the issuance of additional losses 323 million yuan on November 4, an investor told China Capital Securities Net that Haima Motors set the exercise price of equity incentives so low that it did not set high exercise conditions. This is clearly to send money to key employees and it does not have the effect of inspiring them.
Investors said that if Haima Automobile really cares about the rights and interests of shareholders, it should set the exercise price of incentive stocks higher, or set the conditions of exercise rights to be a bit difficult, so that it can play a role in motivating key employees. Can make the company's performance a higher level.
Regarding the exercise conditions and exercise prices of hippocampus vehicles that are too low, on November 4th, a researcher who declined to be named in the automobile field expressed to China Capital Securities Net: “I saw this incentive program as a matter of To the key employees, from the exercise price point of view, compared with Haima Motor's share price in the past two years, 4.42 yuan / share should be a very low price, the company's stock price in the 4.42 yuan / share of the decline is not much; Judging from the exercise conditions, a 15% increase in net profit after deducting non-recurring gains and losses in 2 years is not a big problem at all.â€
The above-mentioned researcher also stated: "As a well-known enterprise, we should have our own products. Since the Haima Motor broke up with Mazda, we have never made a brand car that can be remembered by the general public. Titchell, everyone knows. There are QQ, mention BYD, we can think of F3, but you are now mentioning hippocampus, we can not remember what the iconic brand car.According to the disclosure of the company's public information, Haima Motor has not made plans to design a new type of car. Therefore, although the condition of exercise of equity incentives for hip-camp cars is very low, once the market has turned sharply, it is still unknown whether the company’s performance will continue to grow without the support of iconic brands.â€
As early as October 2010, Haima Motors issued 5.99 billion additional shares to eight institutional investors at an issue price of 5.01 yuan per share.
On November 7, Haima Motors Co., Ltd. closed at 4.47 yuan per share, down 2.83%. Based on this calculation, the eight institutional investors participating in Haima Motor's 2010 additional issuance totaled a loss of 323 million yuan.
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