Xiang-e sentiment push equity incentive 36 chefs have a share

Yesterday (January 12), Xiang e sentiment (002306, closing price 26.96 yuan) issued a notice, proposed to launch 11 million equity incentive.　　The daily economic news reporter notes that 34 chefs and 2 sous chefs have all entered the list of incentives.　　However, for the 27.35 yuan of the price of the line, a brokerage researcher said, "a little high." Granted 11 million stock options according to the announcement, Xiang-E is intended to give a total of 11 million stock options to 8 senior executives and 167 core business personnel. 1.1 million of which are reserved, the price of the line is 27.35 yuan/share.　　At the same time, after the first grant of stock options from the current period of 1 years of incentive authorization, the target should be in the next 48 months in 4 period of the right, the ratio of 25% each time. According to the 4-line right period, the right condition should meet the net profit and the net assets yield index respectively.　　The former stipulates that the net profit for the previous year of each line of authority shall not be less than 120%, 145%, 175% and 210% of the net profit of the base year respectively, and that the weighted average net asset yield of the year preceding the line of authority is not less than 6%, 7%, 8% and 9% respectively.　　Data show that 2008 and 2009, the net profit of Xiang-E was 9%, 20% respectively, 2010 years ago 9 months, its net profit rose 1.63%, net assets yield is 4.98%. Darbond Securities a researcher to the daily economic news reporter said, "The right condition means that four years of annual net profit growth rate of about 20%, in fact it is not difficult to achieve." First, the company's 6 new stores last year, plus 1 wedding halls and 2 franchises, are expected to release their results in 2011. We believe that the company's earnings per share in 2011 will reach 0.7 yuan, an increase of 56%. Second, the company launched 60 new dishes each year, can be raised by price and other means to transfer cost pressure. Finally, the company's Central Kitchen Project also helps to increase the gross margin. "Interestingly, this time, in addition to the company general manager 訚, Dong-Chung and other senior executives were awarded 1.7 million stock options, and 167 people total holding 8.2 million stock options."　　Among them are not only the chairman of the trade union, the project director and other middle managers, but also a number of chefs, deputy chef and chef assistant.　　Researcher: Gao Xing right price is not "cheat" "Daily economic news" reporter notes, according to a number of securities dealers on the latest profit forecast, the price of 27.35 yuan is really not low.　　Shenwan estimated that the company 2011 EPS is 0.6 yuan, corresponding to PE for 43 times times, the equivalent of the target price of 25.8 yuan; the German state securities are expected to 2011 EPS, PE is 0.7 yuan and 39 times times, equivalent to the target price of 27.3 yuan, and Guotai to give a 26.5 yuan target price.　　Is such a high right price, is it just a cloud? "The price of the row is higher than two possible," said the researcher, a companyConfidence in the two-tier market share price, the second is that the right price itself is a castle in the castles, so that the motivation of the object is difficult to do. However, given that this incentive mainly involves middle management and core managers, equity incentives should not be fooled.　　Another brokerage researcher also told reporters that the right to do not harsh conditions, but the right price is a little high. Unfortunately, yesterday, "Daily economic news," the reporter repeatedly called Xiang-e emotional director of the phone, but has been in no answer to the state.