Recently, the company announced that it intends to grant 5 million shares of restricted equity incentives to incentive targets, accounting for 0.70% of the company's total share capital, and the grant price is 5.76 yuan / share. This incentive plan mainly encourages four companies responsible for the production of white LED devices, including Hongli Zhihui Group Co., Ltd. (parent company single), Jiangxi Hongli, Smide and Dongguan Liangyou Hardware.
The performance appraisal conditions are as follows: The total net profit realized by the four companies in the white LED device sector in each year from 2018 to 2020 is not less than 163 million yuan, 220 million yuan and 271 million yuan respectively. On the one hand, this equity incentive can further improve the company's target assessment system, stimulate the power and creativity of the management and core technology backbones of the four companies in the company's white LED device sector, and fully tap the management benefits; on the other hand, it is conducive to attracting and Retaining excellent management talents and business backbones will further stimulate the company's innovation vitality and inject new impetus into the company's sustained and rapid development. As a leading LED white light packaging company, the company will continue to benefit from the industry concentration and overseas capacity transfer. At the same time, the company's acquisition of the quick network was included in the company's consolidated statements in June 2017, which is conducive to boosting the company's overall performance.
The car light business is steadily moving forward, and the future performance growth momentum: Under the catalysis of the traditional upgrade of traditional car lights, the LED lamp market growth rate will be higher than the overall growth rate of the automotive industry. In 2016, the overall assembly rate of domestic LED lights is about 16%. In 2020, the proportion will increase to about 60%. Thanks to the continuous increase in the penetration rate of LED lamps, the domestic market of lanterns is expected to reach 56.6 billion yuan in 2020. The compound growth rate will reach 60% in the next four years.
As the leading white LED packaging company in China, Hongli Zhihui has successively acquired Fo Da signal and Yishen headlights to cut into the field of headlights. Among them, Fo Da signal mainly produces and sells school lights and signal lights, more than 90% of which are sold abroad. The main brands are Haila, Bosch, Jianghuai school bus, Navistar and so on. The main products of Yishan car lights include front combination lights, rear combination lights, interior lights, etc. The main quality customers are Geely Group, Great Wall Motor, Changfeng Cheetah, SAIC Iveco, Changan Automobile, China FAW, and BAIC Group. At the same time, we will vigorously develop new customers, including brand vehicles such as Guangzhou Automobile Group. At present, the company's headlight business accounts for about 20% of the revenue, and the proportion of the headlight business in the next three years is expected to reach 50%, which is the main driving force for the company's future performance growth.
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