What Is Executive Compensation Disclosure?

According to the flush iFinD data, as of April 28, 2014, there were 323 central enterprises that had disclosed the salary of the general manager. Compared with 2012, the per capita salary of general managers of listed companies in central SOEs in 2013 was 773,000 yuan, an increase of 4.33%, and nearly 70% of the general managers of listed central SOEs were below average.

List of executive compensation of listed companies

According to the flush iFinD data, as of April 28, 2014, there were 323 central enterprises that disclosed the salary of the general manager. Compared with 2012, the per capita salary of general managers of listed companies in central SOEs in 2013 was 773,000 yuan, an increase of 4.33%, and nearly 70% of the general managers of listed central SOEs were below average.

Chinese name

List of executive compensation of listed companies

Types of

Leaderboard

Time

April 28, 2014

in accordance with

Flush iFinD data

The central enterprises in the executive compensation list of listed central enterprises adopt a broad definition, that is, the nature of operation belongs to central enterprises, and the types of controllers include SASAC, CBRC, CIRC, CSRC, central state agencies, central state-owned enterprises, and universities.

Among them, Mai Boliang, the president of CIMC Group, won 8.869 million yuan, not only won the top salary of general managers of central enterprises, but also ranked first among all the disclosed general manager salary of listed companies. Mai Boliang also ranked first among the general managers of central SOEs with a salary of 9.98 million last year. In fact, Mai Boliang's annual salary has exceeded 5 million yuan for four consecutive years. According to the annual report, Mai Boliang's annual salary in 2010 and 2011 was 5,962,200 yuan and 9,957,400 yuan, respectively. From 2010 to 2013, the net profit of CIMC Group was 2.851 billion yuan, 3.659 billion yuan, 1.930 billion yuan and 2.634 billion yuan, respectively.

In terms of different industries, among the general managers of state-owned enterprises with revenues exceeding one million yuan, manufacturing, finance, real estate and wholesale and retail industries accounted for more. Nearly one-third of the salaries of general managers exceeding one million are from the manufacturing industry, of which the electronics equipment manufacturing industry is huge; there is no need to say more about the financial industry and the real estate industry; the wholesale and retail industry is affected by the favorable adjustment of the national economic structure. Profit increased significantly by 27.44% year-on-year.

The total salary of the bottom ten general managers of central enterprises is only RMB 410,700. Among them, the general manager of * ST Jitan, China Southern Airlines, Tiandi Technology, Hengtian Hailong, and China Shipping Container Lines has zero salary. However, the reporter further examined the annual report and found that the general manager of zero salary either holds a large number of corporate stocks, or receives compensation from shareholder units, or receives basic compensation but is not listed in the annual report. For example, the annual report of China Southern Airlines only shows that the remuneration of senior management personnel is issued by the company in accordance with the "China Southern Airlines Co., Ltd. Senior Management Salary Management System" and determined by the board of directors. The reporter reviewed the system, which stipulated that the general manager's base salary was 224,000 yuan.

In addition to the number of salaries, the annual salary volatility also deserves attention. The data shows that there are 12 companies with an increase of more than 100% compared to last year. Among them, the salary of the general manager of * ST Dahuang has increased by 262.750%, but the company's net profit has increased from a loss of 318,838,400 yuan in 2012 to a loss of 510,482,500 yuan in 2013. . The performance continued to decline, but the general manager's salary rose instead of falling. It is reported that * ST Dahuang Holdings of Heilongjiang Province Beidahuang Rice Industry Group Co., Ltd. has suffered huge losses for many years, and listed companies are therefore heavily burdened. In the first quarter of this year, * ST Dahuang has transferred all the equity of the rice industry company. After the burden is removed, it remains to be seen whether it can "take the stars off the hat".

From the perspective of performance, there are dozens of companies like * ST. Enterprises continue to lose money, but the general manager is holding high salaries. Specifically, the delisting mayor has lost billions of years in a row, but the general manager Li Wanjin still enjoys more than 500,000 salary. Followed by several Daixing hat companies, even the loss-making performance did not shake the general manager's salary. Some companies set their own high salaries on the basis of emphasizing the "personal contribution of the operator"; some companies implement "equity incentives", and within a few years, senior executives have received high personal gains, but the business has suffered losses. From the perspective of modern business management theory, high pay must be based on the performance of the company as a prerequisite. Only when the executive's pay is linked to the performance of the company can the incentive effect be truly produced. ^[1]