An Analysis of the Annual Changes of CEOs' Annual Salary of Listed Vehicle Companies in China (II)

From 2010 and 2009, the growth rate of annual salary of the CEOs of listed companies in China's listed vehicles and the growth rate of the company's operating income and net profit (see Figure 2, Figure 3), in general, the growth rate of CEOs' annual salary and the company's net profit The gap between growth rates is relatively long, and it is close to the growth rate of operating income. Here we compare the changes in the operating income of the listed companies of the entire vehicle in 2010 and the salary changes of the CEOs.

In 2010, the annual salary of most vehicle-listed companies grew with the company's operating income. These companies include: BYD, Foton Motor, Geely Automobile, Yutong Bus, Guangzhou Automobile Group, FAW Car, JAC, Shanghai Automotive, Chang'an Automobiles, Dongfeng Motor, Zhongtong Bus, Great Wall Motor, Xingma Automobile, China National Heavy Duty Truck, Haima, Ankai Bus, FAW Xiali and CNAC Panthers.

However, the increase in the salary of the CEOs does not match the growth rate of the company's operating income. Among the above-mentioned car companies, the fastest growing operating income was Shanghai Automotive. In 2010, Shanghai Automotive's operating income increased by 125.0% compared to 2009, and its president Chen Hong's annual salary rose by only 9.6% to 741,000 yuan. Haima’s revenue grew by 62.5% in 2010, but its president Hu Qun’s annual salary rose by only 0.6% to 311.9 thousand yuan. Xingma Motor’s 2010 revenue growth was 50.0%, while the annual salary of general manager Duan Chaofei only increased by 6.1% to RMB 280,000.

Great Wall Motor's operating revenue in 2010 increased by 78.9%, but President Wang Fengying's annual salary growth rate reached 166.2% to 402,000 yuan. The annual salary growth ranks first among listed car companies, and this growth rate and Great Wall Motor's net profit growth rate (163.9% ) Close to.

In addition to the fact that these annual salaries have increased with the company's business growth, some veterans have experienced no increase or even a decrease in their annual salaries. Although Shuguang and ST Gold Cup's revenue in 2010 increased by 50.9% and 13.9% respectively, the annual salaries of its presidents Li Haiyang and Liu Pengcheng both remained at their 2009 levels, at 520,000 yuan and 570,000 yuan respectively.

While GAC Changfeng, Yaxing Bus, and Jinlong Bus also have revenue growth, the CEOs' annual salary has declined. The annual salary of Fushou Jie, general manager of GAC Changfeng, decreased by 38.54% to 533,200 yuan from 542,100 yuan in 2009. The annual salary of Wei Xing, general manager of Yaxing Bus, fell from RMB 147,500 to RMB 25,000. Sun Jianhua, general manager of Jinlong Bus, paid 4.60% to 1.324 million yuan from 1.38.33 million.



Schedule:

Note:

1. The annual salary of President Lifan Motors in 2009 and 2008 was not known. The annual salary of GAC President in 2008 was not known.

2. From 2008 to 2010, Jiangling Motors paid the salary of its President Chen Yuanqing to the Ford Motor Company for US$320,000, US$375,000 and US$375,000, respectively, but this is not the salary actually received by Chen Yuanqing. This is the information displayed in the annual report of Jiangling Motors. We tentatively use it as reference data for the annual salary of President Jiangling Motors.

3. Operating income receipts are taken from the data released in the current year, rather than the adjusted data in the second year.