May 20, 2024

Nearly 70% of executives in textile and clothing companies rise. Li Ning's total compensation increases 1.6 times.

Summary:

According to statistics, 83 companies including textile and apparel listed companies, including A-shares and Hong Kong stocks, disclosed executive compensation, of which, the total executive compensation of 57 listed companies increased year-on-year, that is, there are Seventy percent of executives of listed companies in the textile and clothing industry appear to have "increased salaries."

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Textile and Apparel

Textile and Apparel

It is worth noting that among the 57 listed companies whose executives “was paid”, the total executive compensation of the new Rongyu Group ranked first in the increase in executive compensation by 580.55%. It was ranked second with an increase of 156.07%.

Nearly 70% of company executives rise

"Securities Daily" reporter organized statistics on flushing data found that among listed companies in textile and clothing, there are currently 83 A-share and Hong Kong stock companies that disclose the total executive compensation. Among them, listed companies with total executive remuneration of over 5 million yuan have 40 companies.

The total annual salary of executives of 13 listed companies such as Best Pacific International Holdings, Giordano International, Luthai A, Luen Thai Holdings, Yongjia Group, Goldlion Group, Huijie Shares, Rainbow Textile, Libang, Li Ning, Swift Global Holdings and Anlifang Holdings exceeded Ten million yuan.

Among them, the annual salary of the executives of the six companies of Best Pacific International Holdings, Giordano International, Luthai A, Luen Thai Holdings, Yongjia Group and Goldlion Group exceeded 20 million yuan. Among the above six companies, five companies are all Hong Kong stocks, and only Luthai A is a A-share company.

It is worth noting that the data shows that among the above 83 companies, 57 of the company’s executives’ total remuneration in 2016 increased year-on-year. Among them, executive compensation of 34 companies has gained more than 10%; of these 34 companies, 22 companies’ executives have gained more than 20%.

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In addition, executive compensation of 14 listed companies, including New Rongyu Group, Li Ning, Best Pacific International Holdings, Hengbao Enterprise Holdings, China Ding Holdings, Hosa International, La Xia Bei and Jiansheng Group, rose by more than 30% year-on-year. The new Rongyu Group of Hong Kong stocks topped the list with 580.55%.

It is understood that the main business of Best Pacific International is to manufacture and sell elastic fabrics, elastic webbing and laces for women's underwear. The annual report shows that in 2016, the company’s net profit was 456 million yuan, an increase of 33.3% year-on-year.

However, given that Xinrong Yu Group's 2015 executive compensation totals only a low base of RMB 525,500, the new Rongyu Group's total remuneration in 2016 reached only 3,576,200 yuan, which is far lower than Li Ning's high salary and high salary.

Data shows that the total executive remuneration of Li Ning in 2016 was 151.130 million yuan, which was an increase of 156.07% from 5.930 million yuan in 2015. This represents an increase of 1.6 times the company’s executive compensation in 2016.

"Securities Daily" reporter found that the company's annual report found that during the reporting period, the company achieved operating income of 8.015 billion yuan, an increase of 13.06%; net profit of 643 million yuan, an increase of 44.92 times, including the sale of Red Cross 10% of the net income of 3.13 100 million yuan. In terms of brands and product categories, the core brand Li Ning’s operating revenue in 2016 was 7.925 billion yuan, accounting for 98.9% of the group’s total revenue.

Sancheng executives pay cuts

Compared with nearly 70% of the listed companies that have “increased salaries”, there are still 30% of listed companies that have “salary reduction” in 2016. Among them, there are 12 companies whose annual salary declines by more than 10%. And only 30% of the “salary reduction” is only China Aviation Industry International, Far East Holding International, and the three companies of Busen.

It is worth noting that listed companies with a salary reduction rate of more than 10% are listed companies with a relatively small total amount of executive compensation, all of which are below 10 million yuan.

The "Securities Daily" reporter found that China Aviation Industry International's 2016 executive remuneration with the largest reduction in salary was only 75.59 million yuan, a decrease of 69.84% from the previous year's 2.5596 million yuan.

In addition, in 2016, listed companies with executive compensation totaling less than one million yuan are not only a company of China National Aviation Industry International, among which, the total salary of executives of Sanmao God is even smaller than that of China Aviation Industry International, only 65.32 Ten thousand yuan. If compared with the annual salary of Luthai A’s chairman of RMB 135.99 million, even half did not achieve it.

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According to the “Securities Daily” reporter’s review of the Sanmao’s executive pay table, in 2016, including the company’s chairman, the annual salary did not exceed 100,000 yuan. Among them, the company's chairman Min Ying and general manager, director Jia Ping's annual salary in the highest total executive compensation, but also only 86,400 yuan.

A certified public accountant told reporters that the low salary of the Sanmao Shen executives is related to the company’s sluggish performance in recent years. From the annual report, the company has lost its main business for eight consecutive years. The reason why the company has not been delisted mainly depends on non-operating income support.

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