The founder of Weimar Automobile "annual salary" 1.2 billion?Is the truth or rumor?

Recently, the Chinese new energy vehicle market is very lively. When Zero Running Automobile became the fourth listed company in China's new forces in China, Wima Automobile, another new energy vehicle company, was also pushed to the forefront, but The reason for Wima is because of the annual salary of the founder. Some media reports that the annual salary of Wima's founder is as high as 1.2 billion? What should I think of Wima's "high salary"?

1. The founder of Weimar Automobile "annual salary" 1.2 billion?

According to the driven home report, Zero Running Cars successfully promoted the IPO's pace on the IPO of the Hong Kong Stock Exchange, and the new forces of the car construction forces were successfully promoted.

However, recently, the prospectus disclosed by Wima Automobile has brought a lot of controversy.

The prospectus of Weimar Automobile showed that the super high salary of the founder, chairman and chief executive officer Shen Hui seemed particularly attractive. Data show that Shen Hui's salary in 2021 totaled 1.26 billion yuan, accounting for nearly 30 % of Weima's income in the same year. At the same time, the administrative expenses of Weimar Automobile rose 57% year -on -year to 2.7 billion yuan in 2021. Wima said: "It is mainly due to the significant increase in payable payment expenses based on awarded shares due to awarding shares awarding shares award, and payable payments based on investors in C+ series."

Specifically, the total salary paid to the main management in 2021 was 1.75 billion yuan, and Shen Hui's total salary accounted for 72%of the total management salary.

However, when the media close to Weimar Automobile verified the news from Weimar Automobile, Weimar Automobile also denied and explained that "equity incentives" in the salary of Weimar Automobile executives were in accordance with the equity incentive obtained according to the evaluation. The amount confirmed by the fair value calculation is a non -cash nature and does not generate actual cash payment, and strict performance conditions and standards will be set, and it is not necessary to achieve redemption.

Second, the head of Weimar is really such a "high salary"?

Seeing that the founder of Weimar Automobile is so high, many people will be a little surprised. What is going on? What do we think of this?

First of all, 1.2 billion can be regarded as potential revenue in the future but cannot be regarded as "annual salary". When we carefully study the prospectus of Weimar Automobile, we will find that the annual salary of 1.2 billion in the founder of Weimar Automobile reported by the media is actually a misunderstanding of the prospectus.

In the prospectus, Shen Hui, the founder of Weimar Automobile, was 2011,000 yuan. Although it is also good, it is basically the average level of salary of the founders of the new forces of various cars. It is 1.618 million in 2020, and 1.456 million in 2019, which are basically relatively low income amounts. Therefore Yes, but it is far from the 1.2 billion yuan in the media.

Secondly, what is the so -called 1.2 billion high salary? This is actually an inseparable relationship with the listed incentives of technology companies. The reason why this data is disclosed in the prospectus represents to promote the company's listing. Generally, technology companies often choose to use a higher amount with a higher amount. To promote executives to work hard for the listing of enterprises, this is a kind of incentive means stipulated by technology companies according to their own listing goals.

Similar incentive methods are not uncommon. When Xiaomi was listed in 2018, Xiaomi's administrative expenditure in the second quarter of that year reached 10.457 billion yuan, a surge of 4469.6%year -on -year. Equity incentives are to reward Lei Jun's contribution to listing. When the same case was listed in JD in 2014, the board of directors rewarded Liu Qiangdong's 4 % of the company's equity, about 4.1 billion yuan.

However, this kind of reward is not so easy to get. It needs to be rewarded after the listing target is completed, and a certain additional target can be achieved. It can only be obtained in the stage.

In a sense, this is a bonus that may receive in the future rather than the current income. This is actually two meanings that are completely different from the annual salary that can be obtained every year. Therefore, the so -called "annual salary of 1.2 billion" in the media is actually just a complete misunderstanding. This is a bonus rather than a stable income, and this is a incentive plan made by one -time instead of the so -called incentives, not the so -called "Annual salary". What's more, this is also a very common incentive method in the industry. Xiaomi and JD.com have used it, so do not misunderstand here.

Third, why does it appear in the prospectus of Weimar Automobile? But at this time we have to lead the third question. Since it is a kind of incentive why it appears in Weimar's prospectus now? In fact, this is where the financial accounting logic of the Hong Kong stock market is different from the mainland. According to the logic of the Hong Kong capital market, this is a income that may occur in the future. It will be recorded in the account of 2021, but there is no actual expenditure. Whether the expenditure in the future is actually the key to see if the goal of its design is achieved.

And now it is recorded in the financial report, it is also to go public in the future to give the market more expectations. This is also the result of fully absorbing the precedent of Xiaomi and JD.com before. Good expectations will have greater positive significance for Wima's future development. Fourth, why are there so many amounts of 1.2 billion? In fact, we look closely at this is actually an equity incentive, but why the equity incentive will have such a high amount. In fact, this is also related to the great rise in Vimar's valuation. The prospectus shows that from October 2021 to 3322 On the month, Wima completed the D round of financing and raised $ 596 million. The valuation of the post -investment was US $ 7.04 billion. Based on the exchange rate at the end of 2021, the post -investment valuation was about RMB 45.1 billion. Since Weimar's valuation has risen rapidly, and natural equity incentives seem quite a lot, but this is actually inseparable from Wima's valuation.

As for the future Wima Automobile really listed and reached its own profit goals, is there so much money? It depends on the market performance of Weimar Automobile in the future. At that time, it will still be based on the stock price of Weimar Automobile to count how much this money is.

Therefore, seeing similar news actually need to be anxious for us, calm down and see what is going on with this so -called "high salary"? Don't be misled by the title party reports of some media.

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