At present, all kinds of stock-based incentives which are testing in Shanghai, Wuhan, Hangzhou are probably belong to deferred stock incentives and different with the real ESO.

• 目前，在上海、武汉和杭州等地试行的一些股权激励方式主要是期股型激励方式，与经理人股票期权的激励方式还存在较大差别。