On the evening of January 23，Sinotruk（3808.HK）The announcement will implement the restricted stock incentive plan.，Intends to grant no more than 27.6 million restricted shares to no more than 194 employees，Approximately 1% of the total share capital of the Company at the time of the announcement of the Scheme%。The source of the shares granted is that the company entrusts the agency to buy them in the secondary market.，The grant price is 6.RMB 896/Shares，Not less than 50% of the pricing benchmark%And not less than the par value of the stock。

The company said，The purpose of this equity incentive plan is to better retain and attract outstanding talents through a more optimized salary structure.，Make the interests of employees and shareholders more consistent，Effectively mobilize the enthusiasm of the management team and key staff，And then promote the long-term development of the company and maximize the interests of shareholders.。

The announcement shows，The 194 equity incentive targets include directors of the company.、Senior management、Core R & D technology、Marketing and Management Backbone，The grant of restricted shares shall be 24 months from the date of grant.、36 months、Unlock in three phases after 48 months，The unlocking ratio is 30%、30%And 40%。

From the exercise indicators.，Sinotruk has set higher performance evaluation targets at the company level.，It reflects the company's high growth expectations and confidence in its own development.。The announcement shows，The company has mainly set up two types of performance evaluation indicators, namely, business income and sales profit margin.，The three unlocking periods correspond to the relevant performance from 2024 to 2026.。The specific exercise conditions are 2024.、2025、In 2026, the business income will not be less than 94.8 billion yuan.、109.1 billion and 125.5 billion，The profit margin of sales shall not be less than 7.5%、8%And 8.5%，The above indicators are not lower than the average performance level of the same industry in that year.，It is not lower than the industry level at the time of grant.。

For manufacturing enterprises，The company's exercise indicators are challenging.，Set 2024、The business income assessment indicators for 2025 and 2026 are 159 in 2022 respectively..89%、184.01%And 211.67%。In the first half of 2023, Sinotruk achieved operating income of 413.8.9 billion yuan。

It is worth noting that，The two types of performance evaluation indicators coincide with the key breakthrough direction of China Heavy Truck in recent years.，One is to seize market share in the downturn of the industry.，Promote the growth of sales revenue scale，The two is through the continuous optimization of product structure.，Continuously improve product profitability。

The setting of income scale and gross profit rate also reflects the confidence of China Heavy Truck in its future development.。Heavy truck industry sales data in 2023，Sinotruk still holds the top position in the domestic heavy truck industry.，The improvement of market share and profitability has been fruitful.。According to CAAC data，2023，Sinotruk Achieves Heavy Truck Sales 23.420,000，The market share is 25.7%，Year-on-year growth of 2.1 percentage point。

From an industry perspective，2023，The heavy truck industry has stepped out of the previous downturn.，Gradual recovery，Judging from the current situation,，The upward trend of the industry is still not over.。Soochow Securities believes，In the short-term dimension，Heavy truck sales in the first quarter of 2024 are expected to be in the peak consumption season.、High growth driven by dual factors of seasonal decline in gas prices，Drive strong performance realization；In the medium and long term.，Gas heavy truck、The fourth country is eliminated、Three factors of engineering recovery will produce resonance，Expected 2024—2025，The wholesale sales volume of the domestic heavy truck industry was 112.2 and 130.Ten thousand，Year-on-year growth of 23.2%And 15.9%。