A Research On Equity Incentive For Sungrow Company

Under the background of "carbon neutrality and peak carbon dioxide emissions",new energy will gradually replace fossil energy and become the main force of future energy structure.The case company as a new energy high-tech enterprise,belongs to the special qualification enterprise of popular industries,research and development strength and the sustainable development ability are crucial.The comprehensive strength of a company can’t do without good management,leading technologies and quality products.Equity incentive as a common tool to coordinate management,the core staff and the company’s benefits.It is of certain reference significance to comprehend the stimulus and effects of equity incentive implementations for companies in the same industry or with the same cooperation nature.Firstly,the thesis analyzes the appropriateness of the motivation and timing of the equity incentives launched by Sungrow,and then sorts out the implementation process of the equity incentive plans.Finally,through different research methods such as comparative analysis,event study and projection pursuit model,and studies the financial and nonfinancial effects of equity incentives from two aspects.As well as the impact of the company’s short and long-term performance and innovation activities are analyzed from multiple perspectives.The thesis finds out that the motivation of the equity incentive plans of Sungrow mainly centers on the aspects of enterprise development sustainability,improvement of governance structure and talent strategies.The three equity incentive plans launched by the company were implemented smoothly and reached the set assessment indicators.After the implementation of equity incentives,the financial and non-financial performances of Sungrow have been further improved.The short-term market reactions are positive,the comprehensive performance has been improved while the medium and longterm financial indicators have been optimized,and the main products and core technologies have been constantly upgraded.However,the equity incentive plans implemented by the company have good effects in the early stage but a lack of follow-through,and there are some common problems in high-tech enterprises,such as the assessment criteria are lax,the incentive scope and intensity are a bit small,and the incentive period is quite short.The thesis summarizes some referable suggestions according to the actual situation,which has certain practical significance.