At the general meeting of Binhai Investment (“the Company”) on 13 January 2021, the 10-year Share Option Scheme and the Initial Grant Proposal were officially approved and passed. On the same day, the specific list of personnel receiving such Initial Grant had been considered and approved by the Company’s Board within its mandate. These shortlisted candidates include directors, senior management, core technical talents and management cadre, who are making a direct impact to the overall performance and sustainable development of the Group. As of today, the Long-Term Talent Incentive Mechanism of the Company has also officially come into effect.
In order to propel the state-owned enterprises reform, the Company promotes innovations of systems and mechanisms, and at the same time, establishes comprehensive incentive and restraint mechanisms to stimulate the vibrant thinking of its talents to solve the current lack of long-term incentives within the Company. Leveraging on the edges being one of the “Double-Hundred Enterprises” （雙百企業）, along with the guidance and overwhelming support received from Tianjin SASAC, TEDA Holding and Sinopec, Binhai Investment engaged Deloitte Consulting Company Limited to tailor a scientific, rational and effective share option scheme that can stand the test of time.
The formulation and implementation of the Company’s Share Option Scheme did not only tell the successful stories of state-owned enterprises reform, they have also been set as a victorious example with the unprecedented breakthroughs the Company has achieved in implementing comprehensive incentive and restraint mechanisms as one of the Double-Hundred Enterprises in Tianjin Municipal. Through the Share Option Scheme, the Company effectively anchors the personal interests of its personnel with its own performance growth, which demonstrates its firm determination to strive towards “marketisation”.