Sunning Cloud Business Spanformation: Zhang Jindong Pushed Forward 396 Million Shareholding

In October 9th, Suning Yun announced that the 528 million employee stock ownership plan had been completed.

"This is a talent strategy." Wang Xiaoxing, an analyst at Analysys think tank, told reporters on twenty-first Century economic report that Suning Yun is making great efforts to spanform the Internet. The purpose of the ESOP is to stay and attract talents.

Wang also believes that Suning's choice of this time node will also show that the company has certain confidence in its performance. "Now the stock price is at a low point." Wang Xiaoxing said, Su Ningyun business narrowed in the two quarter, "spanformation is still good", is expected to have a good performance in the three quarter.

　　 Zhang Jindong Fund 396 million

After the resolution of the employee stock ownership plan adopted by the general meeting of shareholders, Suning Yun completed its implementation within a week.

The plan shows that the ESOP does not exceed 10% of the total share capital of the company, and the number of underlying stocks held by any holder in the ESOP share does not exceed 1% of the total share capital of the company.

As of September 30th, the employee stock ownership plan manager, Anxin securities, completed the purchase of shares through the two tier market. The purchase amount is 61056374 shares, accounting for 0.83% of the total share capital of the company, and the average purchase price is 8.63 yuan / share.

The total actual amount of the employee stock ownership plan is 528 million yuan, including three parts of self financing, loan and bank interest. Among them, borrowing is that the company's controlling shareholder, Zhang Dong Dong, has obtained funds from his Suzhou Ning Yun stock to apply for pledge financing for Anxin securities, providing loan support to the employee stock ownership plan.

According to the previous plan, the ratio of the loan part to the self raised part is 3:1. According to the sum of 528 million yuan, Zhang should pay 396 million yuan in advance.

"This is disguised employee benefits." Wang Xiaoxing told reporters, for example, other Internet Co have similar situations, such as Alibaba. staff Offering interest free loans to help buy a house.

Unlike the equity incentive plan launched by sunning Yun in August 2010, the ESOP has wider coverage. According to the plan, the total number of employees who participate in the ESOP is not more than 1200. Besides top management, they also include managers, information technicians and special contributors to the company.

"This means that the front-line employees of the company's online and offline businesses have the opportunity to benefit from the shareholding plan, which is conducive to the implementation of the company's spanformation strategy." Goldman Sachs Gao Hua Securities Research Report is an analysis.

The research report also said that the company's logistics, user experience and other improvements still need to see financial results. The ESOP has no dilution effect on the company's current earnings compared with equity incentive.

　　 achievement confidence

Apart from retaining and attracting talents, the analysis of a number of brokerages believes that Su Ning Yun's confidence in its performance is the launch of ESOP at this time node.

According to the company's 2014 semi annual report, its operating income in the first half of the year was 51 billion 152 million yuan, down 7.89% compared to the same period last year. Net profit -7.55 billion yuan, down 202.93% compared with the same period last year.

Su Ning Yun Board believes that this is a "fluctuation" in terms of revenue and efficiency, indicating that the company is at the key node of spanformation. They also said that since May and June, the company has embarked on the right track, "seeing the dawn from the bend to the straight road".

Its data support is that the company's revenue in the two quarter increased by 23.67%, and the Internet business grew by 50.97%, which narrowed to 4% compared with the year-on-year decline in store sales.

"From the two quarter earnings report, the spanformation of Suning Yun Shang is not bad, and the losses have also narrowed down." Wang Xiaoxing said he expects the company to have a better performance in the third quarter.

As of October 9th closing, Suning cloud business daily 8.53 yuan / share. "When the price goes out at a low point at this time, it has certain confidence in its own performance." Wang Xiaoxing said that at present, the company's performance has improved. This time point also helps the company's stock.

There are also media analysis, said Suning Yun this time to set an example, in addition to boosting investor information on the future of the company, but also echoes with the policy.

In June this year, the securities and Futures Commission issued the "guiding opinions on the implementation of the employee stock ownership plan plan for listed companies", calling for a pilot scheme of employee stock ownership plans in listed companies. Zhang Xiaojun, a spokesman for the China Securities Regulatory Commission, said that promoting the pilot scheme of ESOP in listed companies is conducive to establishing and improving the mechanism of sharing interests between workers and owners, improving the level of corporate governance, enhancing the cohesion of workers and the competitiveness of the company.