The Equity Incentive Of Gem Is Trapped In &Nbsp, And The Exercise Price Is "Lost".

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Statistics show that as of May 4th, 25 GEM companies have launched equity incentive schemes, of which 9 companies have implemented equity incentive schemes and 1 companies have stopped implementing.

The remaining 15 GEM companies' equity incentive plan will be faced with the problem of stock price decline due to falling share prices in the next six to 1 years.

In the equity incentive plan of 15 GEM companies, dual forest share (300100) and Han de information (300170) targeted the issuance of restricted stocks to the incentive target. The incentive scheme of three dimensional silk (300056) is stock option + restricted stock; the other 12 GEM companies' stock incentive plan is to grant stock options to the incentive object.

According to the closing price statistics of the 25 GEM companies that launched the equity incentive plan, as of May 4th, in the GEM companies of the 13 option incentive schemes, except that the stock price of Yu diamond (300064) still had a higher premium than the equity incentive exercise price, the share price of other GEM companies had already fallen below the equity incentive exercise price (adjusted).

The equity incentive schemes of these companies are facing the possibility of aborting.

Among the 9 companies that have implemented the equity incentive plan, the price of the other 7 companies has already fallen below the stock option exercise price, except for the two companies of Ding Han Technology (300011) and Hua Li Chong Tong (300045).

Judging from the discount rate of GEM companies below the exercise price, Shenzhou Tai Yue (300002) has the highest discount rate and the discount rate is as high as 43.87%. The discount rate of Pathfinder (300005), Ningbo GQY (300076) and Nandu power supply (300068) is also over 35%.

Affected by the national monetary tightening policy, the A share market continued to decline, and the share price of small and medium sized boards and GEM companies plunged sharply, which is the main reason why GEM stocks fell below the equity incentive exercise price.

At the same time, gem last year and the first quarter of this year's performance is lower than expected is also an important reason for lower stock prices.

Statistics show that last year, there were 32 companies whose performance declined, accounting for over 15%. In the first quarter of this year, nearly 1/4 of GEM companies had negative growth in net profit attributable to their parent companies. What is even more worrying is that 2/3 of the GEM companies experienced a decline in net operating cash flows in the first quarter.

This allows investors to worry about the growth prospects of GEM companies.

The growth rate is lower than expected, which will also increase the risk of equity incentive plan implementation for GEM companies.

Although the performance requirements of the gem are not high, the average growth rate is about 20%.

Against this background, some companies have begun to withdraw the equity incentive plan.

Zhong Neng electric (300062) announced in April 28th that the board of directors of the company decided to cancel the equity incentive plan and will not consider and disclose the equity incentive plan in the next 6 months.

Zhong Neng Electric has also become the only gem company that has stopped the implementation of the equity incentive plan.

The reason why China can cancel its equity incentive plan is that since the disclosure plan in December 7, 2010, the external macroeconomic situation and the implementation environment inside the company have changed a lot.