China the attention that bed equity drive gets civilian battalion business fully all the time and imitate, share to everybody in detail today, enjoy It...
1990, china have two setting and reason to carry out equity drive:
The first: 1990 China for from the trading company, transition makes own research and development. Because research and development is devoted too big, the financing of the company is very tight. So, should hold through employee, the form that helps loan of course of study with the individual, undertake financing, resolve company capital difficulty.
The 2nd: It is to want talented person of forestall core technology, weaken talent actual strength of the competitor, but China do not have high salary to pay, obtain the majority that employee should deliver salary so, buy the share that Cheng Hua is, with talent of this tarry core.
Overall for, the problem that should solve money namely + the person's problem.
China to carry out equity drive, can divide into 3 phase roughly, pattern is different.
1Arrive from 1990 2000 in all 10 years of time, begin to carry out complete member hold, it is actually a kind " share out bonus counterpoises " .
2Arrive from 2001 2013, those who use is fictitious suffer be restricted, it is actually " share out bonus counterpoises + appreciation counterpoises " mode.
3Arrive from 2013 now, increase TUP plan, the income gap of contractible new old employee.
We see the first level first:
1990, china those who be is complete member support a policy, have two points, I decide its reduce + calm person:
Look first calm, that is to say, the stock of what type is what equity drive uses? Specific how to agree? China for the regulation, according to every price of a money, buy company share.
1990, china to carry out complete member hold, although I say it is authority of a kind of share out bonus only, but in those days, china be employee is to regard as really actual share will hold some, in those days employee knows, want not to leave his post only, the share that acquires here, I can lifelong enjoy. Just, complete member after holding a continuance 10 years, because of policy consideration, china for must readjust is fictitious suffer be restricted, had turned over a head to come so, make clear afresh 1990 these 10 years, employee buys, just divide bonus, but be in in those days, china be employee is to regard as really actual share will buy with hold.
So, every this price of a money, it is quite inviting. Can every net assets that contrast China is: 1993 when, china every bed net assets, it is 5.83 yuan. 1994, china every bed net assets is 4.59 yuan. 1995, every net assets, it is 3.91 yuan. But, according to every a money, give employee the share, this price continued 10 years, arrive all the time 2000.
To today, when we make equity drive to the enterprise, set normally, employee is contributive the price that buys company share, cannot under every net assets, if under every net assets makes equity drive, so, in taxation respect, in company future IPO when, can produce a lot of troubles.
So, 1990, china to carry out equity drive, have some of article among them, today not applicable, everybody must notice.
Employee is bought China after bed stock, share out bonus every year with respect to what begin to enjoy a company. Partner shares out bonus, for the company annual 15% of profit after tax. Arrive all the time employee from China to leave one's post, no matter you are,leave actively from the company, china the stock that should get on employee hand for affirmation, close again. How to close? China for the regulation, cost price is counter-purchased. Employee you are according to every price of a money, buy the share, company again according to every a money, buy the share, there are any price differences among.
1990, hua Weiquan member the 2nd point that supports a policy, decide a person, namely who does equity give? China for the regulation, china for company staff, enter duty 1 year to be able to be participated in later, with every 1 yuan price, purchase company stock. In addition, begin from 1997, china the joint-stock company staff that holds water for system of as telegraphic as each district post and telecommunications, also enjoy subscribe qualification.
China the course that takes equity for employee, be as follows roughly:
The 1st, annual, employee is taking ready money, to China those who be " capital career ministry " register buy, a money buys 1.
The 2nd, company demand employee signs on a file, but the file has 1 only, after signing a name, be called in by the company instantly. Employee signs on this piece of paper, it is a when buy equity necessary process, do not sign do not have equity.
The 3rd, employee is handed in after buying a fund, can not take normally on the meaning support an evidence. Every employee holds a number specificly, put on record by the company file. Employee allows only from " equity registry " on, copy oneself equity to count.
China cross equity proof to ever also was sent, it is respectively mixed 1995 1996. China to give the employee at that time, sent " book of circumstance of employee money paid for shares " , account is worn above work number, full name, have the content such as amount of money paid for shares, the official seal of the lid is " China plan a ministry for capital " and " capital ministry " . But after this, china had sent any holding to also be done not have again a proof.
Such operations are full member hold, arrive all the time 1997, china the equity structure that is a company becomes such: China for technical company, 688 employee are taken China bed stock.
Additional, company of Hua Weixin technology, 299 employee are taken China bed stock. Company of Hua Weixin technology, this 299 people, basic it is, china the partner of the joint-stock company that establishs to follow system of each district post and telecommunications.
And, resemble a moment ago was being told in that way, because hold non-standard, employee holds some share, not was in industrial and commercial register, the company did not give employee equity basically also the evidence, only the company puts on record in-housely file. So, employee does not have the partner influence on real significance.
After 1997, because hold a number too much, to convenient managing, china for the decision: China for technical company + company of Hua Weixin technology, staff of these two companies holds some China to be share, be centered respectively by labour union mandatory. Replace partner by labour union, exercise right to vote. Follow today, the enterprise makes equity drive, like can establishing an employee to hold a platform certainly.
Arrive again 2000, had told before me, what the country catchs is severe also, to avoid doing anything that may arouse suspicion, system of post and telecommunications is exited in succession China be hold. So, on equity structure, china for company labour union + labour union of company of Hua Weixin technology is amalgamative rise.
Additional, be in these 1 year, china decide for the company, hold Ren Zhengfei some 1.07% China for the stock, register in industrial and commercial bureau alone register. One step by step, formed today present manage a construction.
China to be in the 1st phase, carry out complete member hold, the effect how? The mainest, it is two effects:
The 1st, solved " dynamical problem " .
Ren Zhengfei has a famous remark: "Money gives much, either the talent also becomes a talented person " . China to carry out complete member hold, employee buys a share " investment return rate " very tall: 1992~1996 year be as high as 100% , 1997 ~2000 year for 70% , that is to say, every stock of a money invests cost, can distribute 7 wool fund every year. Answer 1 year almost this, it is pure later earn.
Later, decrease successively gradually 2002 the investment return rate of 20% , china to send bonus every year 1 times.
Because of one's early years, china bed employee is partner, that is to say, it is working for oneself. After employee buys company share, if want to achieve the investment return rate of high specified number, the company must want to have the profit of high specified number. How can the company just have the profit of high specified number? Employee serves as partner, work with respect to what must want risk one's life needlessly.
So, china for what advocate it is wolf sex culture. Have a story special figure. Say to once had a Japanese expert, the first day enters duty China to be, with respect to statement of very earnest ground, saying him is a job mad, often work overtime. Be in so and when everybody works together, can take up everybody is not working hours in great quantities, ask everybody to coordinate the work! Say, one bow greatly.
Result, after 3 months, japanese expert resigned, when leaving, said a word. Say " you work overtime so, it is inhuman! " say so, china bed core viewpoint of value, struggle difficultly namely.
With complete member hold, plant with this " profit gives one opening " incentive means, spurred the struggling drive of employee directly, propped up China bed high speed grows.
The 2nd, china to use complete member hold, solved " the problem of money " and " the person's problem " . China to do complete member hold, mode is commonly such:
For instance, the 1st year, china to give employee 100 thousand shares, according to every price of a money, employee need is contributive 100 thousand yuan.
The 2nd year, have the investment return rate of 50% suppose, so, in the end of the year, employee holds 100 thousand some shares, can win 50 thousand share out bonus.
This moment, if employee takes away capital 50 thousand yuan 100 thousand yuan along with all the others with share out bonus, china bed cash flows affirmation to be critical; But the company tells you, according to your outstanding achievement, match 200 thousand to you again this year, need you additional again contributive 200 thousand yuan, don't you work?
You think, be as high as the investment return rate of 50% , again from kin money lends over there the friend, return the bonus oneself + salary is built go in, even China borrow money from the bank to still help you, then, throw a company again 200 thousand yuan. This moment, increase 100 thousand share of the 1st year of hold, hold of the accumulative total on the hand China for the stock 300 thousand.
Said again, china the in-house stock of employee of the admeasure that it is cent, do not buy be no good, do not buy, mean, with the company not be be of one mind, can affect next litre of duty, raises.
The 3rd year, if have the investment return rate of 50% again, can take 150 thousand yuan share out bonus again in the end of the year, but the company tells you again, match 400 thousand to you again, don't you work? Such move back and forth.
Usually, china for annual, will share out bonus to employee March, cross 2 months to arrive May, begin new round match. So, employee in one's hand money, had not covered in the hand heat up, should hand in again go back buy a share. Finally, china go up for every employee hand, it is one caboodle stock, without cash.
So, china to adopt " complete member hold " , on one hand, realized internal financing and outside financing, solved " the problem of money " , the cash that reduced a company spreads a risk.
On the other hand, keep the talented person in again China for the company, solved " the person's problem " , because the Qian Liu of employee was in a company. Often where is his money, where can the person be. Borrow this, stabilized China bed core group.
But, 1990, china to carry out complete member hold, also not be perfect, return existence flaw and hidden trouble: Because of this one phase complete member hold, solid to equity, empty limit faintness, bury for follow-up legal dispute played a hint foreshadowing later developments in a story.
I a moment ago had been told, if employee from China to leave one's post, china the stock that should get on employee hand for affirmation, close again. How to close? Cost price is counter-purchased. Employee is according to every price of a money, buy the share, company again according to every a money, buy the share, there are any price differences among.
This kind of stock counter-purchases mode, give China to bring a suit.
2003, china two when be senior staff -- Liu Ping and Huang Can, will China to tell a court. One of reasons are, china for with every 1 yuan price, is not with every net asset value counter-purchases a stock. But, these 2 employee think, they should according to " with coequal " principle, enjoy the rise in value of equity.
But final, shenzhen city quadrangle and Guangdong save tall courtyard, sentence two employee to lose a lawsuit. Because, guangdong saves tall courtyard to think: In labour union this kind holds a framework below, employee is not China the partner that is a company, labour union just is partner.
Although employee is in China be labour union oppose a measure, in China have for interior register and file. But, labour union is a kind of commonalty only, and inside the commonalty, concern without equity, only labor contract concerns. So, china the registering material that is interior, can serve as reference only, without sufficient legal effectiveness.
Such court decision, mean: China for employee, through complete member hold a share that takes, with industrial and commercial the share that register is different, china for employee, through complete member hold take a share, enjoy, it is authority of share out bonus only, equity of and rather than.
Sum up the content that interprets today, arrive from 1990 2000 in all 10 years of time, be China the first phase that is executive equity drive, those who use is " share out bonus counterpoises " mode. The 2nd phase is how begin, will share ～ to everybody tomorrow
