Red Star Capital Bureau reported on June 17th that on the evening of June 16th, Ideal Motors (02015. HK/LI. US) announced that on June 15th, the company would grant a total of 2.59505 million restricted share units (restricted share units) to 195 employees under its 2019 plan, representing the same number of Class A common shares, accounting for approximately 0.12% of the total issued shares of the company as of the date of this announcement (based on one share, one vote).
According to the A-class ordinary stock market price of HKD 73.75 per share (approximately RMB 68.5) on the grant date, Ideal Automobile has granted restricted shares worth approximately HKD 179 million, with an average of approximately HKD 918000 per person.
Restricted share units granted under the restricted share unit grant must achieve several performance goals related to performance evaluation results, comply with internal rules and regulations related to integrity and confidentiality, and fulfill the obligations determined by the board of directors or a committee composed of one or more board members from time to time in accordance with the plan rules of the 2019 plan before they can be attributed.
Ideal Automobile will determine whether the franchisee meets the performance goals based on the performance evaluation results during the relevant period. If there are unqualified assessment results in the performance review, the portion of restricted shares belonging to the transferee shall be confiscated.
Ideal Automobile achieved a revenue of 25.6 billion yuan in the first quarter of this year, a year-on-year increase of 36.4% and a month on month decrease of 38.6%; The net profit was 591 million yuan, a year-on-year decrease of 36.7% and a month on month decrease of 89.7%; The delivery volume in the first quarter was 80400 vehicles, a year-on-year increase of 52.9% and a month on month decrease of 39%; The free cash flow is -5.1 billion yuan, which has turned negative for the first time since 2022.
"I must admit that since the beginning of this year, we have faced multiple challenges in internal operations and external environmental changes, and our performance in the first quarter has fallen short of our expectations at the beginning of the year," said Li Xiang, Chairman and CEO of Ideal Automobile, during the financial report conference call
Ideal Automobile stated that after experiencing severe challenges since the first quarter, the most important task at this stage is to restore product sales. The second quarter will be the most difficult quarter the company has experienced this year. The company's series of adjustments will gradually show its early results starting from the second quarter, but most of the impact on operational efficiency will gradually become apparent after the second quarter.
Looking ahead to the second quarter of this year, Ideal Automobile is expected to deliver 105000 to 110000 vehicles, a year-on-year increase of 21.3% -27.1%; The revenue was 29.9-31.4 billion yuan, a year-on-year increase of 4.2% -9.4%.
Red Star News reporter Wu Danruo