A share appeared a "shocking" executive statement!
On October 26, a screenshot of the circle of friends circulated online, and the deputy general manager of Chen Yubi @ Nord shares marked on the picture said, "The company's market value next year is not 50 billion, and I apologize for the guilt." As soon as the remarks came out, it immediately detonated the Internet. The reporter of China Securities News called NORD shares in the name of investors, and the company's securities department confirmed the content of the circle of friends, saying that the remarks had been withdrawn.
Source: Circle of Friends screenshot
After the market hours on October 26, NORD announced that some online platforms had market rumors such as "vice president pushing votes over sellers", which adversely affected the company. The company's description said that on the evening of the 22nd, Chen Yubi, deputy general manager of the company, made a mistake in setting up a weChat circle of friends to see a small number of friends, mistakenly sent relevant information about the company's future market value expectations and distributed his personal speech poster in a past meeting, which he himself found and immediately deleted in a short period of time. The screenshot was published to a small number of his personal friends, so the wording used was not serious and rigorous; the outlook for the company's future market value in the screenshot is based on the individual's outlook for the securities market in the new sector, and does not provide investment advice to anyone and does not represent the company's position.
NORD shares are a big bull stock this year, up 154.7% in the year, and the increase in the past six months is as high as 238%. Benefiting from the sharp increase in demand for lithium battery copper foil, the company's performance in the first half of the year turned a sharp loss. The company has sacrificed an equity incentive plan for this "groundbreaking", and Chen Yubi, as an executive in charge of the copper foil business, has the largest share of allocation and is also the main person of the equity incentive assessment. The latest market value of NORD shares is 32.9 billion yuan, which is 17.1 billion yuan away from the target thrown by Chen Yubi.
Equity incentives were allocated the most
Chen Yubi, who has released harsh words, has a rich resume and has been deeply cultivating the industrial chain for many years. Chen Yubi's previous positions include head of copper clad laminate sales in the electronics department of Formosa Plastics Group South Asia Company, manager of the sales department of Guangzhou Hongren Electronics Industry Co., Ltd., general manager of South China of Lianmao Electronics Co., Ltd., general manager of Lingbao Huaxin Copper Foil Co., Ltd., and in 2016 he was nominated as executive deputy general manager of NORD Co., Ltd. According to Nord shares, Chen Yubi has worked in the electrolytic copper foil industry for circuit boards and lithium batteries for many years and has rich experience in international management and systematic operation of large enterprises.
Source: NORD Equity Incentive Scheme
NORD shares entrust them with important responsibilities, and they have an important position in the company, which can be seen from the distribution of equity incentives.
Nord shares disclosed the equity incentive plan in February this year, which was retrieved by the announcement, which may be the first time in the company's history that the equity incentive action has been offered. The number of stock options to be granted in the incentive plan is 30 million, the grant price is 7.55 yuan / part, of which 28.5 million are for the first time, and the equity incentive is for the company's directors, senior management and the company's middle-level management personnel and technical and business backbones, involving 133 people. Among them, Chen Yubi received the largest share of allocation, reaching 1.5561 million shares. Based on the latest closing price of NORD shares, the value of Chen Yubi's above options is as high as 36.6617 million yuan.
China Securities News reporter noted that the corresponding assessment year of the stock option exercise period granted by the NORD equity incentive plan is three fiscal years from 2021 to 2023, and each fiscal year is assessed once. In view of the fact that the copper foil business is the company's main business, the copper foil business is all based on the subsidiary Qinghai Electronic Materials Industry Development Co., Ltd. (hereinafter referred to as "Qinghai Electronics") as the assessment caliber, and the incentive plan evaluates the net profit of Qinghai Electronics (that is, the company's copper foil business segment) in each assessment year. It is worth noting that Tianyan's investigation shows that the chairman of Qinghai Electronics is Chen Yubi.
Nord Shares' equity incentives are subject to three exercise periods, the first of which is exercised at 40% of the shares, starting on the first trading day 12 months after the completion of the registration of the first grant of stock options to the last trading day within 24 months from the date of completion of the registration of the first grant of stock options, and the first grant date is February 24, 2021.
Doubling the big bull stock is full of confidence
Behind Chen Yubi's harsh words, NORD shares can be called a super bull stock this year, up 154.7% during the year, and the increase in the past half year is as high as 238%.
Source: Wind
According to the data, NORD co., Ltd. was formerly known as Changchun Heat Shrinkable Material Factory founded in 1987, and the main production bases of the company are national high-tech enterprises. On October 7, 1997, it was listed on the Shanghai Stock Exchange, becoming the first listed company in the Chinese Academy of Sciences system. At present, the company is mainly engaged in the research and development, production and sales of electrolytic copper foil for lithium-ion batteries, and the products are mainly used in the production and manufacture of lithium batteries.
NORD co., Ltd. is one of the earliest companies in China to produce lithium battery copper foil, and its customers cover high-quality customers at home and abroad, including CATL, BYD, LG, Panasonic, SK, Envision, AVIC Lithium Battery, Ewell Lithium Energy and Guoxuan Hi-Tech.
Benefiting from the continuous growth of sales data such as copper foil products, NORD shares have performed well this year. According to the semi-annual report of 2021, NORD co., Ltd. achieved operating income of 2.008 billion yuan in the first half of the year, an increase of 153.42% year-on-year; net profit of 201 million yuan, a net loss of 17.69 million yuan in the same period of the previous year, a year-on-year turnaround.
NORD co., Ltd. stressed that the company's business as a whole continued the good development momentum since the fourth quarter of 2020, and the demand for new energy power battery customer orders in the first half of 2021 increased significantly year-on-year, and the demand for lithium battery copper foil also increased significantly.
For the expectation of future performance, NORD shares also showed their hearts in the equity incentive plan, and the company's assessment target was 30% in the net profit of the copper foil business in 2022 and 2023. From 2021 to 2023, the net profit of the subsidiaries of the copper foil business reached 303 million yuan, 394 million yuan and 512 million yuan, respectively.
The agency believes that NORD shares are expected to continue to benefit from the rise in volume and price. Minsheng Securities Research Report pointed out that the copper foil expansion cycle is long, mainly limited by the good quality of the key equipment cathode roller dependence on Japanese imports, equipment production capacity is limited, the order cycle is about 2-3 years; a single ton investment of about 700 million yuan, the need for a certain amount of capital reserves; copper foil enterprises to expand production involves environmental impact assessment, the process is longer. Downstream demand is strong, 6 microns, 8 microns unit price has risen from 9.5, 77,000 yuan / ton in October last year to the latest 12.4, 107,000 yuan / ton, it is expected that the expansion of production capacity this year and next year is still lagging behind the demand increase, copper foil still has the expectation of price increase. Nord shares in the first half of the year a single ton of net profit of about 11,000 yuan, a month-on-month turnaround, is expected to rise with the price, product structure optimization, a single ton of net profit will gradually increase.
Column Editor-in-Chief: Qin Hong Text Editor: Song Yanlin Caption Source: Visual China Image Editor: Cao Liyuan
Source: Author: China Securities News