股权激励是在一种企业管理者在管理方式上运营的一种艺术，可以说股权激励是一种薪酬和激励管理模式。从宏观角度来看是企业薪酬体系的一部分。对于员工的直接经济性报酬包括基本薪酬、短期激励（绩效工资）、中期激励（年底分红、奖金）和长期激励（即股权激励）。

Equity incentive is a kind of art in the management mode of enterprise managers. It can be said that equity incentive is a kind of salary and incentive management mode. From a macro point of view, it is a part of the enterprise salary system. The direct economic compensation for employees includes basic salary, short-term incentive (performance pay), medium-term incentive (year-end dividend, bonus) and long-term incentive (equity incentive).

从股权激励的效应来看，运用马斯洛需求层次理论分析，对于核心的高层员工来说，他们是希望能与企业一同成长，适用长期的激励需求。所以，不能简单的从局部或者用单一的评断标准去说股权激励到底有没有用。

From the perspective of the effect of equity incentive, using Maslow's hierarchy of needs theory, for the core high-level employees, they want to grow together with the enterprise, suitable for long-term incentive needs. Therefore, we can not simply from the local or with a single standard to say whether equity incentive is useful or not.

说有用，是因为它是一种商业模式上的顶层设计，是一种管理艺术，是企业管理方式上的创新，避免雇佣模式带来的低效，不是简单的员工股权的分配，股权激励更多是一种力量，让个体的价值在公司的这个平台里不断繁殖，去除公司的管理模式的中心化，建立一种高能而且联动的合伙人利益机制。

It is useful because it is a top-level design of business model, an art of management, and an innovation of enterprise management mode. It can avoid the inefficiency brought by the employment mode. It is not a simple distribution of employee equity. Equity incentive is more a kind of power, which allows the value of individuals to continue to multiply in the company's platform, removes the centralization of the company's management mode, and establishes a system It is a high-energy and linkage mechanism of partner interests.

·以下是我对于公司实施股权激励效用的解释。

·The following is my explanation of the effectiveness of equity incentive.

，股权激励能够形成公司的稳定的核心团队。股权激励计划的对象一般是公司中高层管理人员、核心技术和业务人员，他们是企业的高层管理者和核心员工，是公司利益的创造者，股权激励起到了凝聚核心骨干，稳定核心团队的作用。

First of all, equity incentive can form a stable core team of the company. The objects of equity incentive plan are generally the middle and senior managers, core technical and business personnel of the company. They are the top managers and core employees of the enterprise, and they are the creators of the company's interests. Equity incentive plays the role of condensing the core backbone and stabilizing the core team.

其次，形成业绩激励，锁定未来企业发展业绩。股权激励的被激励对象一般都是要完成一定的业绩指标，或者是公司利润达到一定的增长，或者是要到达公司的营业务等指标，激励对象如要行权业绩达到一定的要求，从而基本锁定了未来三年业绩增长，为市场提供了良好的业绩预期。

Secondly, form performance incentive to lock in the future development performance of enterprises. The object of equity incentive is generally to achieve certain performance indicators, or the company's profit to achieve a certain growth, or to reach the company's business and other indicators. If the object of incentive wants to exercise the right to achieve certain performance requirements, it basically locks in the performance growth in the next three years and provides a good performance expectation for the market.

再次，完善公司治理，增强价值创造能力。股权激励是一种管理机制，通过股权激励计划，可增强企业管理团队和业务骨干对实现公司持续、健康发展的责任感、使命感，实现股东、公司和激励对象利益的一致，有用弱化经营者的短期化行为。

Thirdly, improve corporate governance and enhance the ability of value creation. Equity incentive is a kind of management mechanism. Through equity incentive plan, it can enhance the sense of responsibility and mission of enterprise management team and business backbone to realize the sustainable and healthy development of the company, realize the consistency of interests among shareholders, the company and incentive objects, and weaken the short-term behavior of managers.

因此，管理者和骨干在任期内会更关注公司未来的价值创造能力，有用增强其长远竞争力。

Therefore, managers and backbones will pay more attention to the company's future value creation ability and enhance its long-term competitiveness.