Two Tire Companies Announced New Plans To Motivate Employees

- Jul 10, 2019-

The core team determines the future of the company, so the most effective and affordable way to retain core employees is equity incentives and dividends!

From July 5 to 7, the two listed companies, Fengshen Tire and Pulin Chengshan, successively held the board of directors and shareholders meeting, and passed the employee stock ownership plan (draft) and the equity incentive proposal.

In order to achieve benefit sharing, improve employee cohesion and company competitiveness, promote long-term, sustainable and healthy development of the company, and fully mobilize employees' sense of responsibility, Fengshen Tire Co., Ltd. held a staff representative meeting on July 7 to implement the company's employees. The stock plan matters fully sought the opinions of employees, and the meeting agreed to implement the employee stock ownership plan.

It is understood that the first phase of the employee shareholding plan of Fengshen shares will be around 200, and the number of participants in the mid- and long-term employee stock ownership plan (2020-2022) will be around 300. The specific number of participants is determined according to the company's selection and distribution and the actual payment of employees.

On July 5th, Pulin Chengshan held a general meeting of shareholders in Shandong Rongcheng, and passed the equity incentive proposal.

Pulin Chengshan decided to grant stock options to employees who contributed or potential contributions to the company's development, in order to motivate employees and achieve the common development of employees and enterprises.

"China Rubber" learned that Pulin Chengshan launched the equity incentive plan at this time, which is in line with the needs of its enterprise development, and its incentive target is the core strength of the company's future strategic development. The implementation of the plan will help Pulin Chengshan talent echelon construction, thus promoting the rapid development of enterprises.

In recent years, the penetration rate of equity incentives of domestic listed companies has been on the rise, and the number of enterprises has increased year by year. Equity incentives play an irreplaceable role in attracting core talents, improving corporate governance, and improving company performance. This is also an expression of an open, inclusive and international perspective.