(Yicai Global) April 17 -- Executives at financial institutions earn more than other companies, according to an annual report on China's listed companies and their employees. Lin Yong, assistant general manager at Haitong Securities Co. [SHA:600837] topped the lot with an almost CNY15.5 million (USD2.3 million) salary in 2016.
Some 239 listed firms paid more than CNY10 million to management last year, according to incomplete data. Three of the biggest earners were financial firms, including Haitong, Founder Securities Co. [SHA:601901] and Sinolink Securities Co. [SHA:600109].
Ping An Insurance Group Company of China Ltd. [SHA:601318] was named the country's best employer again. Its 29 executives earned CNY108 million in 2016, marking the first time since 2008 that management combined to earn more than CNY100 million.
Although there was no significant boost in the A-share market, salaries at brokerages increased. Management earned CNY80 million at Haitong, CNY74 million at Founder and CNY68 million at Sinolink.
Lin Yong's annual salary leaped almost four-fold from the CNY3.2 million he earned in 2015. His CNY15.5 million earnings equate to CNY42,400 (USD6,160) a day. Li Xunlei, former deputy general manager, came in at second, earning CNY9.9 millon, followed by Miyazato Hiroki, deputy general manager, who made CNY7 million.
Despite the hike in wages, Haitong's performance last year was sub-par. Operating revenue fell CNY10 billion from 2015 to CNY28 billion, with net profit almost halving to CNY8 billion.
The highest paid chairman among listed companies was Wang Shi, who heads China Vanke Co. [SHE:000002]. Despite last year's takeover battle hitting the firm's executives, Wang still earned almost CNY10 million. Ping An's chairman, Ma Mingzhe, was the second highest earner, followed by Chen Qiyu, chairman at Shanghai Fosun Pharmaceutical Group Co. [SHA:600196], who bagged a CNY1 million pay rise to earn almost CNY9 million last year.
The highest-paid general managers were Vanke's Yu Liang (CNY9.8 million), Wanda Cinema Line Corp.'s [SHE:002739] Zeng Maojun (CNY9 million) and Inner Mongolia Yili Industrial Group Co.'s [SHA:600887] Pan Gang (CNY8.3 million).