Operator Finance Network Zhu Xinyu/Wen
With the release of the annual report of Fasthand, the latest salary of the company's directors and chief executive officer also appeared. The operator Caijing noticed that Cheng Yixiao, the chairman and chief executive officer (CEO) of Fasthand, had a large increase in his overall salary last year, which was more than 123 million yuan. But obviously this is not all his salary. What is his basic salary? Are there any salary increases?
Cheng Yixiao won more than 123 million yuan in 2023, and his overall salary increased by more than 75.5 million yuan over the previous year. However, 114 million of them are share based compensation expenses, which is also the reason why the overall compensation increased so much last year. In 2022, Cheng Yixiao's share based compensation expenses will be 39.841 million yuan, an increase of more than 74 million yuan alone.
In addition to this, the salary composition of Fast Hands also includes fees, discretionary bonuses, pension costs - defined contribution plans, other social security costs, housing benefits and other employee benefits, as well as wages and salaries.
Cheng Yixiao's salary and wages last year were 4.864 million yuan, 4.114 million yuan last year, and the basic salary also increased by 750000 yuan, but not as high as Su Hua, the former chairman. Su Hua's salary and wages from Fast Hand were 5.046 million yuan, the difference between the two was 182000 yuan, not much.
In addition, Cheng Yixiao also received a discretionary bonus of 4.5 million yuan, a pension cost defined contribution plan of 63000 yuan, and other benefits of 89000 yuan. On the whole, Cheng Yixiao's salary is quite good.
Cheng Yixiao took over the post of CEO of Su Hua from October 29, 2021. During his two years in office, the performance of Fast Hands was good, the revenue continued to grow beyond 100 billion, the company also turned losses into profits, and began to make profits. Last year, Fasthand achieved a total revenue of 113.5 billion yuan, up 20.48% year on year, and the net profit attributable to the parent company rose 146.72% year on year to 6.396 billion yuan.
On October 29, 2023, two years after Cheng Yixiao took office as CEO, he replaced Su Hua's outgoing chairman again and continued to serve as CEO, while Su Hua only continued to serve as the executive director and member of the remuneration committee of the company.
It is worth mentioning that, according to the annual report, by the end of 2023, Cheng Yixiao, through KeYong, owned and controlled about 339 million Class A shares and 43.77 million Class B shares respectively, accounting for about 8.81% of the total issued shares of the company, about 8.81% of the voting rights of shareholders' resolutions on reserved matters of the company and about 30.76% of the voting rights of shareholders' resolutions other than reserved matters.
In the future, what will Cheng Yixiao do to lead the fast hand? The operator Caijing will continue to pay attention.
