Sharp contrast, senior executives from private automakers earn more than state-owned companies in 2017

Shanghai (Gasgoo)- According to Tonghuashun iFinD, the top 3 listed automakers in China by executives' combined annual salaries of 2017 were BYD (RMB 66.12 million), Great Wall Motor (RMB 23.6441 million) and Foton Auto (RMB 22.2 million). Meanwhile, the three automakers’ net profits attributable to corresponding parent company reached RMB 4.06 billion, RMB 5.035 billion and RMB 0.112 billion, slumping 19.7%, 52.28% and 80.25% year on year respectively.

Relatively low-ranking automakers by executives' annual salary sum were Haima Auto (RMB 4.4701 million), Hualing Xingma Auto (RMB 3.59 million) and Anhui Ankai Auto (RMB 2.7262 million).

Reporters noticed that the senior executives from private enterprises earned much more than those from stated-owned automakers. In addition, the annual salaries of senior executives from auto component companies were apparently higher than those from automakers.

Lian Yubo, vice president of BYD ranked first among all A-share listed auto companies’ senior executives in China with an annual salary of RMB 6.85 million last year. The runner-up is Wu Jingsheng, BYD's vice president and CFO, whose annual salary was RMB 6.15 million last year. It is noteworthy that BYD's president Wang Chuanfu, ranking third among Chinese automakers’ senior executives, earned RMB 5.79 million of annual salary which was over RMB 1 million lower than the vice president Lian Yubo.

As to Great Wall Motor, its vice general manager Hao Jianjun became the champion among the company's executives with an annual salary of RMB4.2334 million last year, followed by Hu Shujie (RMB 4.2323 million), another vice general manager of Great Wall Motor. Due to the uncompleted sales target, Wang Fengying (vice chairman and general manager) and Wei Jianjun (chairman) were deducted RMB 2 million and RMB 3 million from their annual salaries as self-punishment which decreased their annual salaries to RMB 3.5499 million and RMB 2.7821 million respectively, ranking third and fourth in the company.

Among senior executives’ from Foton Auto, the top three were vice general manager Wei Yanqin, general manager Gong Yueqiong and vice general manager Song Shushan with their annual salary reaching RMB 4.26 million, RMB 1.47 million and RMB 1.39 million respectively.

However, contrary to the huge overall profit, the senior executive from state-owned automakers earned quite less than that of private enterprises.

According to relevant data, SAIC Motor delivered a total of 6.93 million vehicles in 2017 and achieved an annual net profit attributable to shareholders of RMB 34.41 billion with a year-on-year growth of 7.51%, ranking first among Chinese automakers.

In 2017, the annual salaries of 23 senior executives from SAIC motor totaled RMB 20.8565 million. The average annual salary jumped over 30% to RMB 906.8 thousand from RMB 694.1 thousand in 2016.

Another local media also found out that the annual salary of state-owned automakers' executives was commonly in the range between RMB 1 million and 2 million. Part of executives' annual salary is summarized as below.