Dream Home Textile Launched Equity Incentive Plan For Sustainable Development

< p > [bulletin summary] < /p >

< p > November 22, 2013 announcement, < a href= "//www.sjfzxm.com/news/index_c.asp" > Meng Jie home textiles < /a > the company intends to grant 8 million 900 thousand shares to 137 incentive objects, accounting for 5.886% of the 151 million 200 thousand shares of the company's total capital on the date of signing the plan.

For the first time, 8 million 30 thousand stock options were awarded, and 870 thousand stock options were reserved. The reserved stock option accounted for 9.775% of the total amount of stock options to be awarded to the incentive plan, and the exercise price was 11.36 yuan. After the completion date of the 12 months after the grant date (i.e. after the waiting period), the incentive object was divided into four period of exercise according to the proportion of 25%, 25%, 25%, 25% of the exercise rights.

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< p > reserved stock option is granted once within 12 months after the first grant of the stock option. After the expiration of 12 months from the date of authorization of the stock option and 24 months from the date of first grant, the incentive object shall be synchronized with the exercise proportion of 33%: 33%: 34% in accordance with the right time of second, third and fourth for the first time, and shall be exercised in the three period.

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< p > based on the net profit of 2012, the net profit growth rate of the company in 2013, 2014, 2015 and 2016 is not less than 55%, 85%, 115%, 145%.

The performance of reserved stock options is calculated as the net profit of 2012. The growth rate of net profit in 2014, 2015 and 2016 is not less than 85%, 115% and 145 respectively.

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< p > [bulletin comment] < /p >

< p > the company is a modern enterprise group specializing in home textile industry. Its products include more than 2000 categories: bedroom suite, bedding, pillow cushion, small home decoration, children's home textile, blankets, hotel supplies, < a href= "//www.sjfzxm.com" > cotton products, /a mattress, spring mattress, sofa and so on. There are three brands of "Meng Jie", "Xiao" and "Meng Jie Bao", which have important market influence. The market share occupies the first place for many years, and it also sells well overseas.

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< p > compared with competition, the company pays more attention to product promotion and the development of its own brand. Later, with the rapid expansion of marketing network, the increase of the proportion of Direct stores will help to rapidly enhance brand awareness and further promote the growth of company performance.

The company is currently encouraging the establishment of a multi brand core strategy to boost the company's future performance.

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< p > at present, the home textile industry has entered the era of high investment. In the era of meager profit, the company is still actively expanding its capacity. Under the current online and offline pressure, the profitability of the company has increased slowly in the first three quarters, which has been slowed down by the domestic economic growth and slowed down by the downstream demand.

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< p > the proposed equity incentive plan aims at mobilizing the management's enthusiasm and improving the current level of operation management, so as to cope with the severe external business environment.

In view of the fact that net profit has increased by 34.69% over the same period last year, the target of the incentive plan has not reached the target. It is expected that the pressure of future performance will be greater and there will be more variables.

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< p > < two months' institutional rating > < /p >

< p > Holdings (Huatai Securities, Everbright Securities, Shenyang Wanguo Securities, China Merchants Securities) < /p >

< p > [technical highlights] < /p >

< p > > < a href= "//www.sjfzxm.com/news/index_cj.asp" > stock < /a > the recent callback of the bottom up rebound, the impact of shrinkage has little effect on the callback, has not yet fallen below the 5 day line, the technology form has begun to turn weak, does not exclude the possibility of continuing callbacks, short-term and prudent operation, the middle and long term temporarily neutral.

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