yojucasinonodepositbonus| Baijiu stock salary list: Mao Wulu's per capita salary exceeds 300,000 yuan, and the remuneration of Golden Seed Liquor executives doubles

21st century economic reporter Xiao Xia reporting from Chongqing

In 2023, more than 90% of the listed liquor companies achieved positive growth, and more than half maintained double-digit growth. The performance of the wine company has reached record highs one after another. How much have the employees raised their salaries?

The 21st Century Business Herald counted the salary and employee changes of all liquor stocks in 2023, and calculated the average salary of non-executive employees. The total number of employees of 21 A-share liquor listed companies exceeded 13 last year.Yojucasinonodepositbonus. 60, 000 people, an increase of more than 6000, a total of 18 alcohol companies showed a rise in non-executive pay last year, while three non-executive pay fell.

Among them, the per capita salary of non-executives in Guizhou Moutai, Wuliangye and Luzhou laojiao exceeds 300000 yuan, while Guizhou Moutai alone exceeds 400000 yuan. But the fastest growing is golden seed wine, where per capita compensation for non-executives surged 65 per cent last year.

By contrast, it is not uncommon for executives in wine companies to earn more than one million yuan a year. In 2023, there are Gujing tribute Wine, willing Wine Industry, Jinhui Liquor, Shuijingfang, Jinshiyuan, Yanghe shares, the per capita compensation of six companies is more than one million. There are 15 executives with an annual salary of more than 1 million, including 6 with an annual salary of more than 3 million yuan, including Yan Tao, CEO of Zhenjiu Li du, Wu Xiangdong, general manager / general manager of Li du, Xu Jin, chairman of Kouzi cellar, Jiang Leifeng, acting general manager of Shuijingfang, Zhang Yongyi, deputy general manager of Shanxi Fenjiu, and he Xiuxia, general manager of Golden seed Wine.

But executives' pay fluctuates much more than the average employee. Among the 21 listed liquor companies, 16 increased the per capita compensation of senior executives last year, and the per capita compensation of senior executives of Golden seed Liquor tripled compared with the same period last year.YojucasinonodepositbonusThe per capita compensation of executives in 5 companies has declined, and the per capita compensation of Huangtai wine executives, who turned a loss again last year, has dropped by nearly 30%. Per capita pay increases for non-executives in 18 liquor stocks

We should know that there are no readily available data on the per capita salary of employees in listed companies.

A-shares do not require listed companies to disclose per capita compensation. In the report form, the salary of employees is classified into different categories according to the position, and the benefits of retired employees, expenses for dismissal, trade union funds, education funds and so on are also included in the salary payable to employees, so there are many methods to calculate the per capita salary in the market. the basis is different.

This paper is only based on "paying employees and cash paid for employees" in the report, which is also the reference data suggested by a listed wine company when investors consult their employees. This data is not equal to the income received by employees, does not include non-cash remuneration of employees, does not include benefits for retirees, but includes wages, bonuses, allowances, subsidies paid by enterprises for employees in that year, as well as social insurance and house fund and personal income tax paid on behalf of enterprises, which can be regarded as the total salary expenditure of employees in the current year.

According to the statistics of the 21st Century Economic report, 18 of the 21 A-share liquor listed companies maintained an increase in total employee compensation last year. The largest increase in absolute value was in Moutai, Guizhou, where more than 13.8 billion yuan was paid in cash and paid for employees last year, an increase of more than 2 billion yuan, equivalent to the annual income of some wine enterprises.

The total salary of employees fell in Shunxin Agriculture, Shuijingfang and alcoholic Liquor, with expenditure cuts of 20 to 30 million yuan. Shunxin Agriculture lost money last year, the performance of alcoholic spirits declined, and only Shuijingfang maintained its growth last year.

(from the enterprise annual report, 21 reporter Xiao Xia collates and calculates)

The increase in the total amount of compensation paid by enterprises is not necessarily a pay rise for employees, but may also be caused by a significant increase in salary expenses.

Of the 21 liquor-listed companies, 13 saw an increase in the total number of employees last year. Among them, Guizhou Moutai increased by more than 1800 last year, Gujing tribute wine increased by more than 1600, and Yanghe shares increased by more than 900people. There are 5 with tens of thousands of employees, namely Maotai, Wuliangye, Yanghe, Fenjiu and Gujinggong Liquor.

To judge whether employees get a raise or not, it depends on the per capita salary. However, as we all know, there is often a large gap between the compensation of senior executives and ordinary employees, so the calculation of per capita salary still needs to deduct the remuneration of the director of that year.

According to this calculation by the 21st Century Economic report, the per capita pay of non-executives in 18 wine companies increased in 2023, while that of Shuijingfang, alcoholic liquor and Luzhou laojiao declined.

The biggest increase was in golden seed wine, where the per capita salary of non-executives was 9% of that of the previous year.YojucasinonodepositbonusThe price of .40,000 yuan increased by 65% to 155000 yuan. The increase is due to a sharp decline in the number of employees, which lost more than 400 employees last year, equivalent to 16 per cent fewer employees. But even assuming its employees remain the same, the per capita pay of non-executives rose by nearly 40 per cent last year.

The per capita compensation of non-executives of Shiyuan, Jinhui Liquor and Rock shares (rights protection) has also increased by about 20%, from 122000 yuan, 114000 yuan and 199000 yuan the previous year to 156000 yuan, 135000 yuan and 238000 yuan last year, respectively.

The salary changes of ordinary employees are not necessarily synchronized with the performance of wine companies. The per capita compensation of non-executives in Luzhou laojiao fell by 7 per cent last year, but its performance maintained a growth rate of more than 20 per cent last year. The per capita compensation of non-executives of Rock shares increased by 20 per cent last year, its revenue surged by nearly 50 per cent last year, and its net profit doubled.

The salary of employees is not proportional to the size of the enterprise. The annual revenue of Guizhou Moutai is 90 times that of Rock, but the per capita salary of its non-executives is less than twice that of Rock employees. Golden seed wine with an annual income of less than 1.5 billion yuan is similar to the current life with an annual income of 10 billion yuan, and the per capita salary of non-executives last year was the same.

It should be pointed out that the per capita salary increase of some wine enterprises is actually on the low side. In addition to the above-mentioned golden seed wine, there were also fewer employees in Wuliangye, Shanxi Fenjiu, Elite, Jinhui Liquor, Huangtai Liquor Industry and Qinghai Spring last year, resulting in a smaller denominator, which means that the statistical increase in per capita salary for non-executives is higher than it actually is. Executive pay has a higher ceiling and a greater decline

Executives' pay ceilings are much higher than those of ordinary employees, but they also fall more sharply.

According to the 21st Century Economic report, based on the high pre-tax compensation of directors and the number of paid executives, the per capita compensation of executives of 16 listed liquor companies rose in 2023, with 10 increasing by double digits, nearly half of them.

It should be noted that many executives from state-owned enterprises are not paid in listed companies, but in groups, and some directors and supervisors are also paid from related parties. as a result, the total executive compensation of many wine companies is actually more than the figures listed in the financial report.

In addition, the executives and core technical backbones of alcohol companies will also benefit from the equity incentive plan. Most of the employees covered by such programs range from dozens to hundreds, and in some cases even thousands. But no matter what kind of equity incentive plan, the core management will be included. When the stock market is good, the income from the realization of this part of the equity is much higher than the daily salary.

(from the enterprise annual report, 21 reporter Xiao Xia collates and calculates)

The biggest increase in executive compensation was still golden seed wine. Dong Jiangao's total compensation increased sharply from less than 6.6 million yuan the previous year to 12.79 million yuan last year, an increase of 94%.YojucasinonodepositbonusDue to the decrease in the number of senior executives receiving remuneration, the per capita compensation of senior executives has tripled to more than 900000 yuan, which can be ranked in the top 10 in liquor listed companies, and many executives received more than 1 million yuan before tax last year. General Manager he Xiuxia received a pre-tax salary of nearly 3.05 million yuan last year. Golden seed wine's revenue grew by nearly 24% last year, but it failed to reverse its losses.

Wine companies, which maintain high growth, saw a general increase in executive pay last year.

The performance of Jinhui Liquor rose by more than 20 per cent in 2023, and the total remuneration of its directors and supervisors rose sharply from 13.58 million yuan the previous year to 22.35 million yuan last year, an increase of nearly 65 per cent. As the number of paid executives has not changed, the per capita compensation of senior executives has also soared by about 65 per cent.

The per capita compensation of senior executives in Shanxi Fenjiu rose 60% to 860000 yuan in 2023, but the actual increase was not big, because the number of senior executives who received compensation fell by half last year. Among its executives, the fastest income growth was Zhang Yongyi, deputy general manager of Shanxi Fenjiu and general manager of Fenjiu sales Company, whose pre-tax compensation increased from less than 1 million the previous year to 3.0566 million yuan last year.

The pay increase of senior executives in state-owned enterprises is strictly controlled and is closely related to the local financial situation and the treatment of the state-owned assets system, while most spirits have a state-owned enterprise background and are not in first-and second-tier cities. Therefore, in the state-controlled liquor listed companies, regardless of equity incentives and other non-cash income, pre-tax compensation of more than 3 million yuan is rare.

Even in Guizhou Moutai, where profits totaled hundreds of billions last year, not a single Dong Jiangao received more than one million yuan before tax in 2023. The highest was Xie Qinqing, director of the enterprise management department of Moutai Group, who received 962700 yuan before tax last year.

In private and foreign-funded wine companies, the pay ceiling of senior executives is generally higher.

For the foreign-controlled Shuijingfang, the former acting general manager Ai Enhua, who just left at the end of March this year, received a pre-tax salary of more than 5.28 million yuan last year, while Jiang Leifeng, who took over, received a pre-tax salary of more than 3.07 million yuan last year. Xu Jin, chairman and general manager of the private enterprise Kouzijiao, received a pre-tax salary of more than 3.64 million yuan last year. Li du and CEO Yan Tao of Hong Kong stocks took into account the total salary of equity incentives of more than 6.58 million yuan last year, and Wu Xiangdong, the real controller and chairman, led the industry with a total salary of 5.79 million yuan last year.

The income gap between senior executives and ordinary employees is also more obvious in private enterprises.

Last year, the per capita compensation of senior executives in Kouzijiao was 770000 yuan, seven times that of non-executives who paid 111000 yuan. Moreover, after deducting several independent directors with an annual salary of tens of thousands of yuan, the per capita compensation of their non-independent executives is more than one million yuan, and the gap is even greater.

However, there were also wine executives whose performance declined last year who cut their salaries as a whole. Huangtai Liquor, which has been on the verge of delisting many times, turned into a loss again last year. Last year, only Yang Libing, deputy general manager, and Yao Dejun, deputy general manager of marketing, were left with a pre-tax salary of more than 200000 yuan.

For Shunxin Agriculture, which lost nearly 300 million yuan last year, Dong Jiangao's total compensation was 7.4 million yuan, a substantial decrease of more than 3 million yuan compared with the previous year, and the per capita compensation of senior executives was reduced by about 16%. In 2022, the pre-tax remuneration of Chairman Li Yinglin, Deputy General Manager Song Kewei, and General Manager Li Qiusheng exceeded 1.12 million yuan, 960000 yuan, and 870000 yuan respectively. Last year, they all dropped to 600000 or less, with a pay cut of as much as 30% to 40%.