Zhongxin Jingwei, September 26 Focuslight Technology disclosed a number of announcements on the same day, on the one hand, the chairman and other management personnel voluntarily cut their salaries, and on the other hand, the company intends to grant restricted shares to incentive recipients, and the chairman is listed.
Voluntary pay cuts
On the evening of the 26th, Focuslight announced that in view of the global economic situation and the industry situation in which the company is located, considering that the company is in a state of loss in the first two quarters of 2024 due to mergers and acquisitions of overseas target assets and other reasons, in order to actively respond to market challenges, realize the integration of M&A business in the early stage as soon as possible, optimize the cost structure, and enhance the company's competitiveness, Liu Xingsheng, chairman and general manager of the company, and some directors and managers (including foreigners) took the initiative to reduce salaries.
Among them, Liu Xingsheng, chairman and general manager, reduced his salary by 30%; The remuneration of some management personnel (including foreigners) such as directors and deputy general managers Tian Ye has been reduced by 10% to 20%.
Source: Focuslight Technology announcement, the same below
Focuslight Technology said that the salary adjustment will take effect from the next month after the disclosure of this announcement, and will continue until the company achieves two consecutive quarters of positive net profit attributable to shareholders of listed companies after deducting non-recurring gains and losses, and the maximum salary reduction period is 12 months. In addition to salary adjustments, the company will continue to promote measures to reduce costs and increase efficiency, increase market expansion and other measures to improve the company's operational efficiency and market competitiveness in an all-round way, and ultimately achieve a significant improvement in operating performance and profitability.
According to the data, Focuslight Technology is a manufacturer of solid-state lasers and fiber lasers, scientific research institutes, medical beauty equipment, industrial manufacturing equipment, and core components of lithography machines. In the first half of this year, the company achieved operating income of 311 million yuan, a year-on-year increase of 29.85%; The net profit loss attributable to the parent company was 28.1192 million yuan, and the net profit loss after deducting non-profit was 32.4788 million yuan.
According to the 2023 annual report, Liu Xingsheng's total pre-tax remuneration from the company during the reporting period was 1.1161 million yuan, and Tianye was 680,600 yuan.
It is proposed to grant restricted shares to the incentive recipients
On the evening of the same day, Focuslight announced that it planned to grant 4.5 million restricted shares to incentive recipients, including Liu Xingsheng and Tian Ye.
Specifically, a total of 529 incentive objects will be granted for the first time in this incentive plan, accounting for about 51.56% of the company's total 1,026 employees (as of September 20, 2024), including: directors and senior managers; core technical personnel; Key employees whom the Board of Directors deems in need of incentives.
Focuslight Technology said in the announcement that the incentive objects to be granted for the first time in this incentive plan include Liu Xingsheng, the actual controller of the company, and Tian Ye, Li Xiaoning and Hou Dong, who act in concert.
Source: Focuslight announcement
The company explained that the reasons for including the above-mentioned personnel in this incentive plan are:
Liu Xingsheng is the chairman and general manager of the company, the core manager and core technical personnel of the company, responsible for the company's R&D strategic planning, leading the team to break through key core technologies, and has a significant impact on the company's technology research and development, the formulation of future strategic policies, the control of business decisions and the management of major business matters, and plays a positive role.
Tian Ye is the director and deputy general manager of the company, and serves as the vice president of global sales and the sales director of China, and is fully responsible for the company's global sales work, and is an important management personnel of the company.
Li Xiaoning used to be the sales director of the company's wholly-owned subsidiary, Yushi Optoelectronics, and is now the sales director of the company's pump team, responsible for the company's pump sales system construction, team management, market planning and layout, etc., and is an important sales management personnel of the company.
Hou Dong is the company's core technical personnel, and serves as the process engineering and materials manager, leading the development of a variety of products, focusing on national scientific research projects and medical and health fields, is an indispensable backbone of the company's research and development.
At the same time, Liu Xingsheng, Tian Ye, Li Xiaoning and Hou Dong participated in this incentive plan, which will help enhance the enthusiasm of the company's core personnel to participate, and better stimulate the initiative and creativity of employees, thereby helping to improve the company's overall performance and promote the company's long-term development.
In addition, the incentive targets of this incentive plan also include Li Zhuojin, the spouse of the brother of Liu Xingsheng, the actual controller of the company, who is the company's financial personnel, mainly participating in the company's general ledger management, and is also responsible for the financial control of the Germany subsidiary, and participates in the financial due diligence of the asset acquisition project, identifies potential financial risks, and provides accurate financial reports for the merger and acquisition decision.
In addition to the above-mentioned personnel, the incentive objects involved in the incentive plan to be granted for the first time do not include the company's other shareholders and their spouses, parents and children who hold more than 5% of the shares of the listed company individually or collectively, excluding the company's independent directors and supervisors, and excluding the personnel who are not allowed to be incentive objects as stipulated in Article 8 of the "Administrative Measures".
According to the arrangement, the incentive plan intends to grant 4.5 million restricted shares to the incentive recipients, accounting for about 4.98% of the company's total share capital at the time of the announcement of the draft incentive plan. Among them, 3,618,500 shares were granted for the first time, accounting for about 4.00% of the company's total share capital at the time of the announcement of the draft incentive plan, accounting for 80.41% of the total rights and interests to be granted in the incentive plan; 881,500 shares are reserved for granting, accounting for about 0.98% of the company's total share capital at the time of the announcement of the draft incentive plan, accounting for 19.59% of the total rights and interests to be granted in the incentive plan.
According to Focuslight, the incentive plan is valid for up to 60 months from the date of the first grant of restricted shares to the date when all the restricted shares granted to the incentive recipients are vested or invalidated. (Sino-Singapore Jingwei APP)