Two senior executives of Minglida voluntarily gave up half a year's salary, and the former chairman of Youshanzi Hi-Tech announced that he would stop paying his personal salary
2024-08-21
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According to Red Star Capital Bureau on August 21, Minglida (301268.SZ) issued an announcement on the evening of August 20, saying that it had received a written notice from General Manager Tao Cheng and Deputy General Manager Zhang Xianming. The notice stated that due to the unprecedented challenges faced by the company in 2024, the two executives voluntarily gave up their salaries from July to December this year.
Among them, Tao Cheng gave up a basic salary of 480,000 yuan and an annual performance-based salary of 80,000 to 640,000 yuan, totaling about 560,000 to 1.12 million yuan; Zhang Xianming gave up a basic salary of 360,000 yuan and an annual performance-based salary of 60,000 to 180,000 yuan, totaling 420,000 to 540,000 yuan.
As of this morning's closing, Minglida's share price rose 1.55% to 14.44 yuan.
Public information shows that Minglida is mainly engaged in the design, research and development, production and sales of precision structural parts and molds. The application areas of its products mainly include photovoltaics, energy storage, new energy vehicles, security and consumer electronics.
In the first quarter of this year, Minglida's revenue was about 555 million yuan, a year-on-year decrease of about 42.84%; its net loss was about 19.32 million yuan, a year-on-year decrease of 120.88%. Regarding the decline in performance, Minglida once said that it was mainly due to the reduction in customer orders and increased investment.
Screenshot from Minglida’s financial report
Red Star Capital Bureau noted that Minglida is not the first company in recent times where senior executives have voluntarily proposed salary cuts.
Take Shanzi Hi-Tech (000981.SZ) as an example. As the company's stock price once hit the limit down in late July, on July 28, its chairman Ye Ji posted an apology on Shanzi Hi-Tech's official WeChat public account and stated that he had applied to the board of directors to suspend his personal salary until the stock price recovered to above 1.6 yuan per share.
According to Shanzi Hi-Tech's financial report, Ye Ji's pre-tax remuneration in 2023 is about 3 million yuan, or about 250,000 yuan per month. As of press time, Shanzi Hi-Tech has not yet recovered the share price of 1.6 yuan per share.
In addition to Minglida and Shanzi Hi-Tech, the Red Star Capital Bureau discovered through the WIND financial terminal that some listed companies have also adjusted their executive compensation plans.
On July 29, Haixin Energy Technology (300072.SZ) announced that it had passed the relevant proposal to adjust the remuneration of senior executives. Among them, the target annual salary of the general manager was adjusted from 1.4 million yuan to 900,000 yuan, the target annual salary of the deputy general manager was adjusted from 960,000 yuan to 720,000 yuan, and the target annual salary of the secretary of the board of directors and the financial director was adjusted from 780,000 yuan to 630,000 yuan.
However, some listed companies are planning to raise the salary standards for independent directors in the near future.
For example, Guangxin Holdings (603599.SH) recently issued an announcement stating that it plans to adjust the salary standard of independent directors from 60,000 yuan per person per year (before tax) to 84,000 yuan per person per year (before tax). This matter still needs to be submitted to its shareholders' meeting for deliberation.
Coincidentally, Hongfa Group (600885.SH) also recently issued an announcement stating that it plans to adjust the independent director allowance standard from 100,000 yuan/year (tax included) to 120,000 yuan/year (tax included). The proposal still needs to be submitted to the company's shareholders' meeting for deliberation.
Red Star News reporter Yang Peiwen
Editor: Yang Cheng
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