[Tianfeng New Energy] Zhongheng Electric: Launching the Third Phase of Employee Stock Ownership to Deeply Bind Core Team, Three-Year Quantitative High-Growth Assessment Anchors Mid-to-Long-Term Growth Ceiling -0727

English summary

Event: The company disclosed the draft of the third phase of employee stock ownership plan on July 27: Shares come from the 2025 share repurchase account of 1.8044 million shares, accounting for 0.32% of total share capital; the employee transfer price is 21.79 yuan/share, with no more than 40 participants, including 5 directors, supervisors and senior management and 35 core backbone employees, all funded with their own capital, and the company provides no financial assistance. The duration is 60 months, with unlocking in three phases at 12/24/36 months, with ratios of 40%/30%/30%; for 2026-2028, dual-dimensional assessment of revenue and net profit is set; the total share-based payment expense is calculated to be 32.8581 million yuan, amortized in 2026-2029 as 7.1193 million, 16.9767 million, 6.5716 million and 2.1905 million yuan, respectively. ...