Jiaoge Pengyou Holding Announces 2024 Q3 Results and Employee Incentive Shares

TapTechNews October 10th news, Jiaoge Pengyou Holding today announced in a public notice that in the third quarter of 2024, the group completed a total of approximately 2.9 billion yuan ($413.6 million) in gross merchandise volume (GMV), an increase of approximately 18.84% compared to the third quarter of 2023; the cumulative GMV completed in the first three quarters of 2024 was approximately 8.86 billion yuan ($1.26 billion), an increase of approximately 18.44% compared to the first three quarters of 2023.

In addition, Jiaoge Pengyou also announced the grant of 3,913,610 incentive shares to employees, including:

3,373,610 incentive shares will be granted to 99 employees of the group who have made contributions and performed well (the first batch)

540,000 incentive shares will be granted to 4 employees of the group, who are mid-level to senior employees in various business and functional departments of the group (the second batch).

The closing price of the shares on the grant date was HK$1.18 (TapTechNews note: currently about $1.42).

Jiaoge Pengyou said that the company has established a set of assessment mechanisms, and each quarter will be evaluated according to the performance of each selected participant in each quarter (quarterly performance assessment) and the annual performance from January 1 to December 31 (annual performance assessment). The performance targets of the incentive shares vary and are determined according to the nature and position of each selected participant's work and the expected market and business conditions during the period covered by the quarterly performance assessment and the annual performance assessment.