Maoshuo Power announced today that the company's board of directors decided to terminate the restrictive stock incentive plan currently being implemented, repurchasing and canceling 26,434,600 shares of restricted stock that have been granted but not yet unlocked at a price of 4.55 yuan per share. Currently the company's total share capital of 1.29.
The company said that the termination of the restricted stock incentive plan is an inevitable choice made under the current situation. Since the annual performance is not up to standard, the termination at this time can effectively promote the stability and harmony of the management team. For Maoshuo Power Supply, the current period is facing a severe test, and at the same time it is a good development opportunity for the company. As the only listed company in China's LED driver power supply and the leading manufacturer of consumer electronics power, the company will fully benefit from the development of the LED lighting market and the huge demand of the consumer electronics market in the future. It is not excluded that the company may restart the equity incentive in the future.
According to reports, since the company's listing, in order to adapt to the strategic development needs of the new stage, Maoshuo Power has strengthened the construction of the system platform and accelerated the construction of new teams while maintaining stable operation. The company vigorously promotes and introduces high-quality talents with the ability and ideas, and has formed a benign competition mechanism. The original divisions of the company have carried out the reorganization and reserve of talents into a business group, and several business divisions under the business group. Established an incentive mechanism for independent operations. The restructuring of Maoshuo Power will further improve the company's governance structure, enhance the vitality of the management team, and actively promote the company's R&D and sales comprehensive strength, adding a weight to the company's long-term competitiveness.
In addition, since the chairman of the board re-appointed as general manager on March 15, 2013, Maoshuo has taken many positive measures in its power management business: it has invested 18 million yuan to acquire the equity of 51 PV inverter manufacturer Shenzhen Fuling Control Technology Co., Ltd. Further expand business areas, foster new profit growth points; sign strategic cooperation agreements with many domestic and foreign large customers; introduce and reserve a number of high-quality management, sales and R&D talents, and change the company and Hangzhou in a breakthrough way. The cooperation mode between Infinex and the new agreement stipulates that the cooperation between the two parties will be reduced from the original proportion of the technical commission to the annual fixed cost and the annual decline, reducing the company's operating costs year by year.
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