Sany announces 2023 employee stock ownership plan
ECONOMY & POLICY

Sany announces 2023 employee stock ownership plan

Sany Group has announced the 2023 employee stock ownership plan (ESOP). This is the fourth consecutive year that Sany has launched the ESOP, which gives employees an opportunity to own shares in the company through the setting up of incentive funds. The 2023 ESOP has set up a fund size of around $82 million with a share repurchase price planned at $2.24. The capital will be from the incentive funds accrued following relevant provisions of the group.

Sany has always focused on improving employee benefits and adhering to the principle of "growing together, pursuing common development, and sharing achievements." By establishing a comprehensive incentive and restraining mechanism, it aims to inspire employees' enthusiasm and creativity and align the interests of shareholders, the listed company, and individuals. This encourages all parties to join efforts to boost Sany’s long-term development.

Sany’s annual ESOP aims to share the fruits of the group's achievements with employees. The number of employees awarded with stock ownership incentives is growing annually, and the proportion of mid-level and key position employees is increasing year by year:

  • 2020: Sany awarded 8.31 million shares to 2,264 employees, 71.52 percent were employees in mid-level management, key positions, and core business (technical) positions.
  • 2021: Sany awarded 7.54 million shares to 4,205 employees, 91.33 percent were employees in mid-level management, key positions, and core business (technical) positions.
  • 2022: Sany awarded 20.5 million shares to 6,996 employees, 94.26 percent were employees in mid-level management, key positions, and core business (technical) positions.
  • 2023: Sany is awarding 36.62 million shares to 7,131 employees, 95.69 percent were employees in mid-level management, key positions, and core business (technical) positions.
  • Sany Group has announced the 2023 employee stock ownership plan (ESOP). This is the fourth consecutive year that Sany has launched the ESOP, which gives employees an opportunity to own shares in the company through the setting up of incentive funds. The 2023 ESOP has set up a fund size of around $82 million with a share repurchase price planned at $2.24. The capital will be from the incentive funds accrued following relevant provisions of the group. Sany has always focused on improving employee benefits and adhering to the principle of growing together, pursuing common development, and sharing achievements. By establishing a comprehensive incentive and restraining mechanism, it aims to inspire employees' enthusiasm and creativity and align the interests of shareholders, the listed company, and individuals. This encourages all parties to join efforts to boost Sany’s long-term development. Sany’s annual ESOP aims to share the fruits of the group's achievements with employees. The number of employees awarded with stock ownership incentives is growing annually, and the proportion of mid-level and key position employees is increasing year by year: 2020: Sany awarded 8.31 million shares to 2,264 employees, 71.52 percent were employees in mid-level management, key positions, and core business (technical) positions. 2021: Sany awarded 7.54 million shares to 4,205 employees, 91.33 percent were employees in mid-level management, key positions, and core business (technical) positions. 2022: Sany awarded 20.5 million shares to 6,996 employees, 94.26 percent were employees in mid-level management, key positions, and core business (technical) positions. 2023: Sany is awarding 36.62 million shares to 7,131 employees, 95.69 percent were employees in mid-level management, key positions, and core business (technical) positions.

    Next Story
    Resources

    Skyview by Empyrean is Making Benchmarks in the Indian Ropeway Industry

    FIL Industries Private Limited, the parent company of Empyrean Skyview Projects that pioneered ropeway mobility solutions in India with Jammu’s Skyview Gondola, is currently developing the Dehradun-Mussoorie ropeway and is on track to complete Phase I by September 2026. The ropeway is set to be India’s longest passenger aerial monocable covering 5.8 km between the foothills of Dehradun in Purkulgam and MDDA taxi stand in the hills of Mussoorie in just under 20 minutes. The firm pioneered green mobility solutions in India with the development of the flagship Skyview Gondola in Jam..

    Next Story
    Technology

    Creativity is for Humans, Productivity is for Robots!

    On most construction sites, the rhythm of progress is measured by the clang of steel, the hum of machinery and the sweat of thousands. But increasingly, new sounds are entering the mix: the quiet efficiency of algorithms, the hum of drones overhead, and the precision of robotic arms at work. Behind the concrete and cables, an invisible force is taking hold: data. It is turning blueprints into living simulations, managing fleets of machines, and helping engineers make decisions before a single brick is laid. This is not the construction of tomorrow; it is the architecture of today – built on ..

    Next Story
    Infrastructure Urban

    Bhartiya Urban Unveils ‘Bhartiya Converge’ GCC Enablement Platform

    Bhartiya Urban has launched Bhartiya Converge, its latest business venture designed to become India’s premier platform for enabling Global Capability Centres (GCCs). The initiative offers an integrated ecosystem aimed at helping global clients gain a competitive edge in today’s rapidly evolving business environment. Focused on enhancing turnaround time and operational efficiencies, the company seeks to deliver better business outcomes powered by top-tier talent. Bhartiya Converge presents a customised and integrated suite of microservices that addresses the nuanced and evolving operational..

    Advertisement

    Advertisement

    Subscribe to Our Newsletter

    Get daily newsletters around different themes from Construction world.

    STAY CONNECTED

    Advertisement

    Advertisement

    Advertisement

    Advertisement

    Talk to us?