Wangsu reports increased profit, unveils new share incentive plan

Wangsu Science & Technology (SZSE:300017) reported a 10.02% year-over-year increase in net profit attributable to shareholders, totaling CNY 674.52 million for 2024, as well as 29% revenue contributed by overseas operations. A cash dividend of CNY 2.5 per 10 shares has been proposed for shareholders of record on 2024's operation. Alongside the financial results, the company unveiled a new restricted stock incentive plan, aiming to incentivize key personnel with a total of 73.38 million shares. The plan, replacing previous expired initiatives, promotes long-term alignment between shareholder, company, and employee interests, however has resulted in scrutiny for specific elements. Moreover, a significant amount has been approved towards increasing financial incentives for 2025 as a result of strong financial performance in 2024.