Chapter 398 The employee stock ownership plan is launched and the semiconductor industry layout is accelerated!
The first topic discussed at the meeting was the establishment of a regional president proposed by Lu Kai.
As the globalization strategy of Sprout Group accelerates, Lu Kai suggested that it is necessary to follow the example of other large overseas companies and set up regional presidents in major target markets.
The most urgent one is of course the Southeast Asian market.
Although it is said that Sprout Group already has Jiaoyang Holdings registered in Xiangjiang, which assumes the responsibilities of the group's overseas business department, it is obviously unable to meet the demand.
In particular, the general manager of Jiaoyang Holdings is concurrently served by Lu Kai, the rotating president of the group.
As for the one responsible for the development of the entire Southeast Asian market, the main operating entity is Jiaoyang Holdings (Star City) Co., Ltd., and its title is only regional company manager.
It obviously does not match the responsibilities, and it cannot be printed on a business card.
If you add the title of regional president, the level will go up immediately, and it will be more conducive to work.
"I agree to establish a regional president, but it cannot be done overnight. First, establish an Asia president to be responsible for the group's overseas business in Asia, except for China."
"The regional president's rank is set to M11. If necessary, he can concurrently serve as the group vice president."
Zhang Shuo made the final decision.
If necessary in the future, positions such as President of the European Region and President of the Americas Region can be established.
But it is obviously not necessary yet.
Just like in Europa, although the quality of Maili x1 is not bad, and customized models are launched in cooperation with local telecommunications companies in accordance with local requirements, sales have never been able to achieve a breakthrough.
Tepid.
The budding globalization strategy obviously cannot be achieved overnight.
"As for the candidate for the president of Asia, whether it should be hired from outside or determined within the group, you can discuss it with human resources." Zhang Shuo gave Lu Kai a lot of autonomy.
Not only is Lu Kai the rotating president, he is also in charge of the group’s overseas business.
In terms of rank.
The newly established president of Asia should report directly to his boss, Lu Kai.
"good."
Lu Kai smiled and nodded, obviously in a good mood.
The second topic is the employee stock ownership plan proposed by Executive Vice President Jiang Yue.
"It has been three years since the group was established. Although it has attracted and retained a large number of outstanding talents through its generous welfare system and employee security system, this is not a long-term solution after all."
“If we want to truly stabilize the hearts of outstanding talents and stimulate employees’ subjective initiative, we must also consider implementing some necessary supporting measures in terms of equity incentives.”
Zhang Shuo was strongly opposed to employee stock ownership before, but now Jiang Yue proposed it at the meeting.
Apparently it was approved by Zhang Shuo in advance.
Zhang Shuo's business philosophy itself evolves with the development of the situation and is not static.
But one thing is for sure, that is -
Zhang Shuo is still firmly opposed to Warwick-style employee stock ownership, and most of the profits created by the company, except for taxes, only benefit a small group of people.
Sprout's mission is to return the wealth created to society.
This is why.
Since the establishment of Sprout, Zhang Shuo has not taken even one dollar of shareholder dividends from Sprout.
Therefore, the employee stock ownership plan proposed by Jiang Yue this time is still experimental in nature.
It has a strong sense of testing the waters.
According to the plan, the headquarters of Sprout Group will first set up an employee shareholding platform, namely Chunya Fund, which will exercise shareholder rights on behalf of all employees.
That is to say.
Even if employees hold shares, employees only have income rights but no voting rights.
Secondly, the shares used for equity incentives will not be the shares of the Sprout Group, but the shares of the group's subsidiaries, similar to the operation before the listing of AutoNet.
The target selected this time is Qingcheng Group.
The reason is also very simple. As a test of employee stock ownership, first of all, it must be a non-core business of the budding system, and secondly, it must have a plan to go public in the future.
The only subsidiary that can meet these two requirements at the same time is Qingcheng Group.
After Qingcheng Group has experienced three rounds of financing, it may go public in the next two to three years. Sprout Group does not seek absolute control over Qingcheng Group.
Therefore, it is the most suitable equity incentive object.
In the future, companies like Pinxixi Group can also be used as equity incentive targets.
"In accordance with the instructions of the chairman, the first phase of the employee equity incentive plan is to take out 15% of the shares of Qingcheng Group and open it to employees who meet the conditions for voluntary subscription at an internal price valued at 100 billion."
Qingcheng Group’s C-round financing valuation has reached as high as 110 billion, and the valuation of 100 billion is definitely an internal price.
It's the kind where you make money when you buy it.
All shares of Qingcheng Group will be set at 10 million shares. The employee internal subscription price is 10,000 yuan per share. The upper limit of the number of shares that can be subscribed is determined by a comprehensive evaluation of working years, rank, performance, etc.
The 15% shares of Qingcheng Group that were taken out this time totaled 1.5 million shares.
The total number of employees in the Germination Department has exceeded 200,000. Even if we leave out the electronics factory workers, delivery boys and other employees who are not included in the first batch of employee stock ownership plans, the total number has exceeded 100,000.
On average, each person can only subscribe for fifteen shares.
Of course, when it is actually implemented, it will definitely not be an average shareholding, but the higher the rank, the more shares can be subscribed. Employees at the lowest level may only be able to subscribe for one share.
"What conditions need to be met to subscribe?" Lu Kai asked with a smile.
"The basic conditions are that you have to work in the Germination Department for three years, and at the same time, the management position level is not lower than M1 level, and the technical position level is not lower than P3 level."
That is to say.
This equity incentive plan of Germination is not for all employees to hold shares, but only for core talents.
This is also a common practice in the industry.
Just like electronics factory workers, delivery boys, etc., people are not sure whether they can work in Buya for three years. For them, compared with equity incentives and so on, high wages and high benefits are the most affordable.
Equity incentives themselves are also designed to retain enough outstanding talents.
"Uh, this..."
A group of senior executives looked at each other. Strictly speaking, this condition was not too harsh. However, Germination was too special and it had only been established for three years.
Those who currently meet the conditions are probably the employees of the first Qingcheng Xiaozhu acquired by Sprout Capital. Even the old employees of Jade Bird Interactive Entertainment will not be able to meet the requirements until the end of the month.
As for senior executives who joined later, like Lu Kai, Gu Mingzhang, and Cai Feijuan, it would be even worse.
It really has to be like this.
Then this equity incentive plan will appear to be meaningless.
"For outstanding employees who have not reached the working years but meet the grade standards, the group will adopt option incentives." Jiang Yue quickly explained.
For example, for Cai Feijuan, the newly hired financial director, Human Resources will set a KPI for performance. After three years, as long as Cai Feijuan continues to work at Sprout and passes the performance appraisal.
Then, Cai Feijuan will still be able to obtain corresponding equity incentives at the same price.
The so-called same price is the 10,000 yuan per share promised now.
You know, the most conservative estimate is that in three years, the valuation of Qingcheng Group will soar to at least 200 billion, which means that as long as Cai Feijuan meets the performance appraisal standards, she will immediately receive twice the investment income.
The market value of the original time and space mold group was close to 800 billion.
And given the huge potential of Qingcheng Group, as a combination of mold groups and tick-tocks, it is foreseeable that the market value will exceed one trillion after its listing.
That is a return on investment of more than ten times.
And because the targets of this equity incentive are limited to key employees at level 1 and above, the actual number of recipients of equity incentives will be reduced to less than 10,000 people.
On average, each person can subscribe for 150 shares.
With Cai Feijuan's rank of M10, she is expected to receive subscription rights for 800 shares. If she subscribes for all of them, she will become a billionaire in seven or eight years.
Absolutely cost-effective and absolutely tempting!
By implementing this equity incentive plan and adding some other restrictions, such as not being allowed to transfer the equity incentive within three years after receiving it, the internal stability of the Germination System in the next five years can basically be ensured.
After four or five years, a second equity incentive can be implemented.
In addition to retaining outstanding employees, the implementation of the employee equity incentive plan this time can also be regarded as an equity transfer because it is a subscription system. In the next three years, it can gradually provide up to 15 billion to the Germination Group.
liquidity to improve the budding capital chain.
"I'll add something more."
After Jiang Yue made his explanation, Zhang Shuo made a supplementary statement: "In view of the fact that at the beginning of 2011, during the establishment process of Qingcheng Group, Mr. Du Qing carried forward his style and accepted the transfer of 0.5% of the shares he held for five million.
of Qingcheng Retail shares. The board of directors decided to give Du Qingqing an additional one thousand shares as compensation in this equity incentive."
The so-called board of directors' decision is actually Zhang Shuo's personal decision.
If the 0.5% stake in Qingcheng Retail had been held until now, even if it would be continuously diluted in the process of multiple rounds of financing, the value would be at least more than 100 million.
Watch now.
Du Qingqing definitely lost money.
Because of this, taking advantage of the implementation of equity incentives this time, Zhang Shuo took the initiative and gave Du Qingqing a compensation.
Notice.
It is a thousand shares given directly to Du Qingqing Qingcheng Group, and there is no need to spend money to subscribe.
It's worth 10 million now alone.
Although it is not enough to completely make up for Du Qingqing's losses, it is enough to allow her to achieve true financial freedom.
In addition to Du Qingqing, Zhang Shuo also thought of another person, that is, his former administrative secretary Chen Xiaowan, who after resigning from Moya, returned to his hometown and opened a bar.
Zhang Shuo ultimately failed to fulfill his promise and did not attend the bar's opening ceremony.
Lu Kai and other senior executives had no objections to Zhang Shuo's decision. You should know that Du Qingqing was the employee number 002 in the Germination Department except Zhang Shuo, the big boss.
Belongs to the elder among elders.
Lu Kai and others are only envious of Du Qingqing's ability to receive such additional rewards. Fortunately, with their ranks and net worth, it will be very easy for their personal wealth to exceed 100 million in the future.
There is no need to be overly envious.
………
The third topic of the meeting was related to the semiconductor business.
Proposed by Gu Mingzhang.
"The good news is that under the lobbying of Liang Song, executive vice president of Daosui Group, Tai Electromechanical has made a preliminary decision to invest in the construction of a 28-nanometer advanced process wafer foundry production line in Jiangxia."
"oh?"
In the past week, Zhang Shuo was either overseas or in Shanghai. He really didn't pay much attention to this matter. He asked curiously: "Liang Song, how did you convince Tai Electromechanical?"
"I didn't ask for details."
Gu Mingzhang explained with a smile: "However, Tai Mechanical and Electrical's decision to build a factory in Jiangxia has two conditions. First, Daosui Group must jointly invest with Tai Mechanical and Electrical, and the investment share must be more than 25%."
The investment for a 28nm wafer foundry is around 20 billion.
Taimei Electric has roped in Daosui Group, obviously to share risks.
"no problem."
Zhang Shuo was eager to get involved because he had other plans for Tai Machinery.
Just when he thought that this was an investment of four to five billion, and then compared the liquidity in the sprout account, he felt a little pain in his heart - why can't he save the money?
I finally saved up several billion, but now I can no longer hold on to it.
"The other thing is that Tai Electromechanical requires signing a long-term wafer foundry cooperation agreement with Changjiang Memory, and requires OEM memory chips for Yangtze Memory."
"oh?"
Zhang Shuo did not expect that Tai Mechanical and Electrical had quite a big appetite. Not only did they want to win the OEM contract for Zhulong chips, but they also set their sights on Changchang Memory's memory chip foundry. In addition to the commercial interests of Tai Mechanical and Electrical, this was probably also
There is an intention to exclude or restrict the development of Weijing Semiconductor.
even though.
Liang Song's appointment has already gained the understanding of Tai Mechanical and Electrical, but the latter must still be wary of Liang Song.
I don’t want Weijing Semiconductor to become bigger and stronger.
"We can hand over some of the OEM contracts for advanced processes to Tai Mechanical and Electrical." In order to stabilize Tai Mechanical and Electrical, and lured Tai Mechanical and Electrical to Jiangxia, Moya can only make some sacrifices at the moment.
"good."
Gu Mingzhang nodded and took note.
"By the way, where is the construction progress of the packaging and testing factory invested and built by Licheng Technology in Jiangxia?" Zhang Shuo was concerned about another thing.
Chip production can be left to Tai Electromechanical, while packaging and testing must be done by Daosui Group itself.
To know.
One-third of the manufacturing cost of a chip is spent on the packaging and testing stages.
"It is expected to be completed in March next year, which will fully match the 28-nanometer wafer foundry of Taimei Electric, including the 40-nanometer wafer foundry built by Weijing Semiconductor in Luzhou."
"Very good, we must coordinate each other's progress."
The next one or two years will be a critical year for the development of Daosui Group.
………
In the afternoon, the President's Office announced the main framework of the first phase of the Employee Stock Ownership Plan of the Bubu Department in the form of an internal open letter. Not surprisingly, it aroused heated discussions internally.
"The cute king is mighty!!!"
I don’t know since when, even the employees at Moya started to call Zhang Shuo by his nickname.
It seems more cordial this way.
"I envy the first batch of old employees. After subscribing, they are close to financial freedom."
obviously.
People with different incomes also have different definitions of financial freedom.
"The cute king is still biased. He only gives equity incentives to employees above grade level. As a low-level worker, I am very envious!!!"
"I'm biased. If you want to get equity incentives, it's not difficult to work hard and make progress."
This is quite true.
Anyone who has worked for three years and has not reached the M1 level in management positions or the P3 level in technical positions can clearly explain the problem, either because they are not capable or they are not working hard enough.
As a large company, involution is normal.
There's no reason to be worse, right?
Especially in the Internet industry or R&D positions, young people actually have greater advantages. Those who are truly capable and motivated can make their mark in the first few years of work.
The news spread to the Internet and attracted the envy of more people.
"Well, it's someone else's company again, so it's sour, so sour."
"Is it still too late to change jobs and go to Germination? (Gotou)"
"Mr. Ya's employee stock ownership plan looks very bluffing, but in fact it's quite silly. Not only does it need to be subscribed, but it's also the shares of the subsidiary."
"The typical sour grapes upstairs are sour. What happened to the subsidiary's shares? Qingcheng Group's valuation exceeds 100 billion, ranking fourth in the entire Chinese Internet industry."
"That's right, let alone group subsidiaries like Qingcheng Group, even a second-tier subsidiary like Automotive.com, Tubatu, Xiami Music, etc. would be enough to make people drool."
"This is the charm of Big Mac..."
"Let's see, in a few years, when Qingcheng Group goes public, there will be a group of multi-millionaires and even billionaires. I really can't envy you."
"Who said reading is useless?"
Netizens were just envious, but giants like Tengda and Ahri smiled bitterly after receiving the news. The reason is very simple. Sprout has already made up for the last shortcoming.
If you want to poach people from the beginning in the future, it won’t be that easy.
………
The next day Zhang Shuo did not go to the company, but went into the Binhai University library.
Continue charging.
During lunch, Cai Miaomiao came over and whispered: "Brother, can Sprout Investment acquire Meow Meow Bicycle?"
"why?"
Zhang Shuo, on the other hand, looked confused.
"After the acquisition, I will also be able to receive equity incentives as an employee of the BeiJia department." Cai Miaomiao is so obsessed with money that it is hard to imagine that she is still in her freshman year.
This kid.
Why did it suddenly become like this before?
As everyone knows, it was Zhang Shuo, the role model of the elder brother, who made Cai Miaomiao "fallen".
"Don't think about whether these are available or not."
Zhang Shuo glared at Cai Miaomiao, "Even if we acquire it and give you equity incentives, do you have the money to subscribe?"
As far as he knew, although Cai Miaomiao was the CEO of Miaomiao Bicycle, Miaomiao Bicycle had been losing money, and as the CEO, she only received a basic salary.
I don't have any money on hand.
"I can borrow it from you."
"Me? Forget it, I am a poor person myself, and even my meal card was recharged by your sister-in-law." As soon as these words came out, Gu Xiaoxi, who was sitting opposite, blushed slightly.
"Brother, you are such a scumbag!!!"
After learning the truth, Cai Miaomiao was also shocked, "You can eat soft food so confidently."
"What's so shameful about eating soft food based on your ability?"
Zhang Shuo's face has long been cultivated to be thicker than the city wall. He knocked on Cai Miaomiao and couldn't help but teach him a lesson: "Manage Miaomiao Bicycle well, learn more, practice more, don't always think about money, money, money."
"oh...."
Cai Miaomiao immediately drooped her head and became completely wilted.
………
Friday, June 7th.
Tang Xiang, President of Mango Group, made a special trip to Binhai City to prepare to report to Zhang Shuo in person.
In the past week, Tang Xiang can be said to be the busiest executive in Buya. Taking advantage of the popularity of Mango m1, he traveled to almost all first- and second-tier cities in China.
We are busy signing strategic cooperation agreements with various cities, promoting the opening of green licenses, including Mango m1 in the new energy subsidy list, and building charging piles, experience centers and other supporting facilities.
We must also focus on the production, marketing and other aspects of Mango m1.
At the same time, we have to deal with countless suppliers, draw up a new supplier list, and at the same time promote suppliers to build factories in Linhai, the capital of Shanghai, to form a clustering effect with the Mango Super Factory.
In order to meet Tang Xiang, some supplier representatives flew with him all the way.
There is no one left.
It can be seen that Tang Xiang has become an iconic figure in the field of new energy vehicles in China.
It can be said that he became famous in one battle.
In order to promote Mango Cars, I had to take the time to accept interviews with major media and TV stations.
The reputation is unparalleled.
After everything came to an end, Tang Xiang did not dare to neglect and hurried to the headquarters to meet with the big boss. In addition to reporting on the work results of the past week, the main purpose was to discuss follow-up arrangements.
For example, let’s take the setting of the Mango M1’s subsequent modified models.
Even though Tang Xiang is so famous outside, he seems to be a great man, but in his heart he knows very well that the big boss Zhang Shuo is the soul of the Mango Group.
The indispensable kind.
He is top-notch and a good executor.
That's all.
Fortunately, Tang Xiang was not distracted and was still able to keep a clear mind in the face of the huge honor.