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Golith: Promote The 2023 Equity Incentive Plan To Help The Company'S Performance Continue To Grow Rapidly

2023/5/4 18:50:00 0

Recently, Golith announced the launch of a new stock option incentive plan for about 490 managers and core business (technical) personnel. The number of employees covered accounts for 15.76% of the total number of employees by the end of 2022, and the total number of stock options to be granted to incentive objects is 13.4 million. The incentive plan has two exercise periods, and the assessment year is 2023 and 2024. The performance assessment target in 2023 is not less than 300 million yuan of audited net profit attributable to shareholders of the listed company before deducting share based payment expenses, and the performance assessment target in 2024 is not less than 400 million yuan.

With the business environment returning to normal in an all-round way, in the first quarter of 2023, while maintaining a sustained growth of 6% in the main business income, Golith will achieve a net profit attributable to the parent company of 47.28 million yuan, laying a good foundation for the annual profit recovery growth. With the introduction of a new phase of equity incentive for a broader group of employees, Golith is expected to continue to achieve new breakthroughs.

Five brands enter the fast lane of development

The bigger the multi brand matrix, the stronger

In the past two years, the development of the company's international multi brand matrix has demonstrated great resilience. It has achieved a breakthrough against the trend in the general environment of weak demand, and its main business income has continuously broken new highs, reaching 2.364 billion yuan in 2022, with 2% growth in the weak market. On the basis of a year-on-year growth of 17% in the first quarter of 22 years, the first quarter of 23 years still achieved a growth of 6%, which was 24% higher than the first quarter of 21 years. In the growing period, the brand seized the development opportunity to achieve a historic breakthrough.

In the past 22 years, the main brand ELLASSAY has actively made up its income through online community marketing, live broadcast, power e-commerce platform and other means, achieving an income of 890 million yuan. In the first quarter of 2013, with the recovery of the market, direct marketing has resumed its growth. However, in order to further support the development of franchisees and make terminal inventory more benign, the franchise business has been adjusted due to the impact of return and replacement. As the brand further promotes the rejuvenation, and continues to upgrade the channel, expanding the store to a better business district, Golith is expected to open a new growth channel.

The growth of British self portlet brand is particularly significant. In 2022, the revenue will be 280 million yuan, a year-on-year increase of 59%, and a 76% increase in 23Q1. In the past three years, while the number of stores has doubled continuously, the brand has maintained excellent single store revenue, achieved rapid growth, and has entered a new stage of development. It is expected to continue its strong performance and maintain efficient expansion in the future.

The French IRO Paris brand has achieved comprehensive development in the face of multiple challenges in both domestic and foreign business environments. In 22 years, the brand revenue reached 660 million yuan, up 12% year on year, and the 23Q1 brand revenue increased 3.5% year on year. In the past three years, the revenue of the brand in China has continued to grow against the trend, and there has also been steady development overseas. The brand will continue to create greater breakthroughs from a global perspective.

The German Laur è l brand gives full play to the German aesthetic gene, co named FAW Audi, and constantly deepens the user's mind. In 2022, the overall revenue will be 240 million yuan, maintaining basic stability, and the revenue of 23Q1 will achieve a rapid growth of 26.4%. By effectively expanding its sales network to second tier cities, Laur è l can also maintain a fast pace of opening stores and continuously improve its market share.

Ed Hardy brand in the United States has continued to iterate and upgrade its products and channels, achieving revenue of 300 million yuan in 22 years. Through continuous iteration of channels and products, it is expected to be promoted to a larger target market.

As an A-share scarce international multi brand group, Golith has the advantages of mature sales network, industry-leading design and development and supply chain system, efficient digital system, and fast fission marketing system. While continuously ensuring the speed of store opening, the company will further improve the sales efficiency of direct stores and franchise stores, give full play to the terminal operation experience, and strengthen the growth of single stores in mature stores. With the development of the multi brand matrix under the company, the synergy of all brands will be further played, and the company's operating efficiency is expected to continue to be improved.

Channel expansion strongly supports profit recovery

Online development continues to expand revenue space

In 2022, the company will maintain a positive store expansion speed, grasp the flow entrance in the high-quality business district, and lay a good foundation for the subsequent rebound. By the end of 2022, there will be a net increase of 80 direct stores compared with the beginning of the year, including 21 Ellassay brand direct stores and 14 Ed Hardy brand direct stores. The channel upgrade will open new growth space for the brand. In 2022, the brand in the growth period will effectively expand to the top business districts of emerging second tier cities such as Wuhan, Guiyang, Fuzhou, Haikou, and collectively settle in new landmarks of cities such as Chengdu SKP, among which 20 stores, 17 stores and 10 stores will be added for the self portlet, IRO Paris, and Laur è l brands respectively. The total number of stores under the company increased by 63 to 613 compared with the beginning of the year. In the first quarter of 2003, the company continued to add 12 stores, with a total of 625 stores. The expansion of high-quality channels has laid a solid foundation for the growth of revenue and profit scale.

In 2022, the company will maintain the breakthrough and expansion of online multi brands and multi platforms, and the online sales scale of the five brands will increase significantly. It will continue to improve the e-commerce system based on Tmall stores, radiate public platforms such as JD, Vipshop, and strive to win new customers by adding small programs to the live broadcast. The multi brand collaboration led the company to achieve online sales revenue of 351 million yuan, up 29% year on year. While the online sales revenue increased, the proportion of online sales further increased to 14.8%, an increase of 3.1 percentage points over the same period last year. In the first quarter of 2013, the company deepened the positive pricing strategy in Tmall's system, and the effect of attracting new customers was obvious. The annual revenue scale is expected to continue to increase; The scale of Vipshop platform has grown significantly, and good brand reputation has formed a continuous flow introduction; Breakthroughs have also continued on the dithering platform. 23Q1 The online gross profit rate of the company reached 60.2%, an increase of 3 percentage points year on year.

Launch a new incentive plan

Ensure the continuous and rapid growth of the company's performance

Previously, the company launched a stock option incentive plan for six core executives in 2021, leading the company to achieve a higher strategic breakthrough by encouraging core executives. Now, the company has again launched an incentive plan for a broader group of employees, covering about 490 people, accounting for 15.76% of the total number of employees by the end of 2022. While further improving the long-term incentive mechanism of the company, we should stimulate the enthusiasm of management personnel and core business (technology) personnel, so that the interests of the majority of employees are consistent with the company's development goals, aligning up and down, and ensuring the realization of long-term strategic goals.

The performance appraisal set up in this incentive plan is both forward-looking and challenging. The goal in 2023 is to have the audited net profit attributable to shareholders of listed companies no less than 300 million yuan before deducting share based payment expenses, and no less than 400 million yuan in 24 years. If the company reaches 90% (including this number) of the above performance assessment objectives, the company level share option exercise ratio is 50%. With the business environment fully returning to normal, the company has laid a good foundation for performance recovery. It is expected that the target performance of 23 years is expected to achieve significant growth compared with 22 years ago. At the same time, the profit growth rate will reach 33% in 2024 based on the net profit attributable to the parent company of 300 million yuan realized in 23 years, which will help ensure the continuous and rapid growth of the company's performance while positively encouraging employees.