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According to retail sales data released by the Federation of passengers, retail sales of narrow passenger cars totaled 20.146 million in 2021, an increase of 4.4 per cent over the same period last year. Although the auto industry was affected by chip supply and the COVID-19 epidemic in 2021, it still showed great vitality compared with 2020, and ended three consecutive years of decline in the auto market. In this context, the remuneration of the chairman of the car company has also changed.

A few days ago, the financial media "Financial circles" compiled a ranking of the compensation of chairmen of listed companies in the auto industry in 2021, which includes more than 100 listed companies, including automakers, car dealers and auto parts suppliers. According to statistics, the top five chairmen of the automobile industry in 2021 all exceeded 5 million yuan, with an average salary of 5.8241 million yuan, of which Cao Dewang, chairman of Fuyao Glass, ranked first with 6.9233 million yuan. Wang Chuanfu, chairman of BYD, and Wei Jianjun, chairman of Great Wall Automobile, ranked second and third, with salaries of 5.798 million yuan and 5.7478 million yuan respectively.

In automobile manufacturers, Wang Chuanfu and Wei Jianjun are paid much more than other chairmen. According to the financial report, BYD realized operating income of 216.142 billion yuan and net profit of 3.045 billion yuan in 2021, while Great Wall Motor realized operating income of 136.405 billion yuan and net profit of 6.726 billion yuan in 2021.

Among the state-owned automobile enterprises, Foton Automobile, Changan Automobile, SAIC, BAIC Langu, GAC GROUP and Jianghuai Automobile are the main ones. The annual salary of the chairman of the board is more than one million, which is obviously higher than that of other state-owned automobile enterprises. Among them, SAIC Group, as the first car company in China, owns SAIC-Volkswagen, SAIC-GM, SAIC-GM Wuling, SAIC passenger cars and so on. The average salary of employees in 2021 is 189300 yuan, while the annual salary of chairman Chen Hong is 1.944 million yuan.

However, as the head company of its own brand, Wang Chuanfu, chairman of Geely Automobile, did not appear on the list. It is understood that over the past decade, Li Shufu's book salary has been around 300000 yuan, and his salary from listed companies in 2019 is only 359000 yuan. As for equity dividends, it is unknown.

Judging from this salary scale, the income of senior executives of private car companies far exceeds that of executives of state-owned automobile enterprises, while that of central enterprises is even lower. In fact, due to the company system and other reasons, it has become normal for executives of private enterprises to have higher salaries than those of state-owned enterprises and central enterprises. Xu Liuping, party secretary and chairman of China first Automobile Group Co., Ltd., earns 863300 yuan a year, while Zhu Yanfeng, chairman of Dongfeng Group Co., Ltd., earns 794500 yuan, which is lower than that of state-owned automobile enterprises, according to a document published on the website of the State-owned assets Supervision and Administration Commission of the State Council.

However, executive pay for the new power brand is more attractive than that of traditional carmakers. Prior to this, Titanium Media, a financial media, released a ranking of executive compensation. Gu Hongdi, vice chairman and president of Xiaopeng Automobile, ranked first with an annual salary of 434 million yuan, which attracted wide attention from netizens. In addition, the annual salaries of executives from 10 companies, including Tencent, Ali, JD.com, Lenovo and other technology companies, are all more than 100 million yuan.

It is understood that the data source Xiaopeng Automobile Annual report, Xiaopeng Automobile disclosed in the financial report that the total annual salary of the eight directors was 440 million yuan, while Gu Hongdi became the highest-paid executive in the above-mentioned company with an annual salary of 435 million yuan. it means that the other seven people are paid a total of about 5 million yuan. In response to this news, Xiaopeng Automobile responded: "there is a big difference between the fact that the annual salary of a high level of Xiaopeng Automobile has reached 435 million yuan, and the value of the shares held by the executive has been misinterpreted as annual salary." In the salary disclosed to the public, more than 99.5% are the equity incentives accumulated over the years, not the income in a year, but the sum of the equity incentives accumulated over the years. As the company's valuation has been greatly improved before and after the listing, the equity value has also risen, and the actual annual salary of the executive is more than 2 million yuan. "

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