Chang Yu Has 46 Employees With An Average Value Of Nearly &Nbsp.

Recently, in the forum of China's capital [5.50 0.00%] securities network, investors pointed out that "Zhang Yu (Stock Code: 000869.SZ, 200869.SZ, hereinafter referred to as" Zhang Yu A[96.50 2.52% shares "). senior executive They are all multimillionaire. Is that so?

According to the current market value of Zhangyu A, 46 ordinary employees holding Yuhua investment have an average value of nearly 100 million yuan, with an average cash dividend of nearly 5 million yuan per person.

Yusheng investment, the former five largest shareholder has been worth 300 million yuan, the annual income from cash dividends far higher than list Remuneration paid by the company.

Yusheng investment has a huge source of investment in Yuhua provenance, there has been doubt. Therefore, some media questioned Chang Yu A's high proportion of cash dividends for executives to repay the huge sum. trust Funds.

Zhang Yu A2010 annual report shows that Yusheng investment shareholders increase one person. In June 2nd, Li Tingguo, A securities affairs representative of Zhangyu, said that some people should go in, but the situation is not clear and needs to be understood by the major shareholders.

46 the average employee is worth nearly 100 million.

The chairman is worth more than 800 million.

According to the 2010 annual report, Chang Yu A major shareholder Yantai Zhangyu Group Co., Ltd. (hereinafter referred to as "Chang Yu Group") holds 266 million shares of listed companies, accounting for 50.40% of the shares of listed companies. Zhangyu group is controlled by four sides of Yantai Yuhua investment and Development Co., Ltd. (hereinafter referred to as "Yuhua investment"), of which Yuhua accounts for 45% of the investment. The controlling shareholder of Yuhua's investment is Yantai Yusheng Investment Development Co., Ltd, which accounts for 62.22% of the shares (hereinafter referred to as "Yusheng investment"), and 37.78% of the Zhangyu group and 46 employees of the company.

According to the information inquired from the Yantai Bureau of industry and Commerce before the media, Sun Liqiang, chairman of Yu Yu A, accounted for 11.52% of the registered capital; the second largest shareholder was vice chairman and general manager Zhou Hongjiang, accounting for 10.56% of the registered capital; the third to fifth major shareholders were Fu Mingzhi, director of the board of supervisors, Leng Bin, director and deputy general manager, director, deputy general manager and Dong min Qu, respectively, accounting for 5.12%, 4.48% and 4.48% of the registered capital respectively.

According to the closing price of Zhangyu A94.13 yuan / share in June 2nd, the market value of Yuhua's investment has reached more than 11 billion yuan. According to this calculation, not only is the market value of Yusheng investment reaching 7 billion, but the average number of 46 ordinary employees holding Yuhua investment is close to 100 million yuan. Yusheng investment's top five shareholders have passed the price of 300 million yuan: Sun Liqiang, chairman of Chang Yu A, has reached 810 million yuan, and vice president and general manager Zhou Hongjiang is worth 740 million yuan. The chairman of the board of supervisors Fu Mingzhi is worth 360 million yuan, and the director and Deputy general manager Leng Bin is worth 310 million yuan. Dong Shi, deputy general manager and Dong Mi Qu are also worth 310 million yuan, which is much better than what investors refer to as "executives are millions of rich".

Cash dividends far exceed corporate reward.

High dividends or repaid trust

Moreover, Chang Yu A has been making high dividends for many years. In 2004, 5 shares were issued for every 10 shares, 7 yuan for every 10 shares in 3 shares in 2005, 8 yuan for every 10 shares in 2006, 11 yuan for 10 shares in 2007, 12 yuan for 10 shares in 2008, and $8 for each share in 2009.

Roughly calculated, from 2004 to 2009, Yuhua invested more than 600 million yuan in cash dividends. The 46 ordinary employees holding Yuhua investment earn an average of nearly 5 million yuan in cash dividends per person, while Yusheng investment also receives a cash dividend of nearly 400 million yuan. The annual income of the top five shareholders is much higher than that of the listed companies.

How did these executives get the equity of Chang Yu A indirectly?

Zhang Yu A2005 annual report shows that Zhongcheng trust invested 174 million yuan, holding 45% stake in Yuhua investment, Yusheng investment invested 67 million 330 thousand yuan, accounting for 17.2% of the registered capital of Yuhua investment. In the 2006 annual report, Zhongcheng trust has transferred 37.27% of Yuhua's investment shares to Yusheng investment. By the time of the 2008 annual report, Zhongcheng trust has transferred all the remaining shares in Yuhua to Yusheng investment.

However, there are doubts about the huge investment of Yuhua investment shares held by honesty and trust in Yusheng investment. Some media questioned that Chang Yu A's high proportion of cash dividends is for executives to repay huge sums of trust funds.

For this doubt, some analysts pointed out that Chang Yu A's brand value and business are good. The high growth, high profit and high score red are also amazing. However, when EMBO (management led employee acquisition) executives may not really have money, there is a suspicion of paying the trust fund through high dividends.

There is also a doubt in the annual report. Chang Yu A2009 annual report shows that among the shareholders of Yusheng investment, "Zhangyu group and 14 senior managers of our company" account for 64%, "Zhangyu group and 12 of the company's middle level" account for 36%, while the 2010 annual report has changed to "Zhangyu group and 27 employees of the middle level of our company" holding 100%.

Who is the increase?

In June 2nd, Li Tingguo, Chang Yu A securities affairs representative, said that some people should go in, but the specific situation is not clear and needs to be understood by the major shareholders.