Fangda Group Jiugang's "Cash Wall" video screenshot
Just last weekend, the listed steel enterprise Fangda Group made a strong publicity: the heroic Fangda Group distributed gold red envelopes in Jiugang to 500 million yuan, with an average of 50,000 yuan per person. This move turned the market's attention to steel companies that made huge profits last year. Who is the "sacred" of Fangda Group, which spent 100 million yuan?
Last weekend, a video of Fangda Group Jiugang’s “Cash Wall” was widely circulated online. In the video, there are stacks of "cash walls" made of hundreds of yuan on the red carpet, and a banner is hung behind it, which says "Heartly thank Chairman Fang Wei for his deep affection for Jiugang employees."
It is understood that there are dozens of enterprises controlled by Fangda Group. This time, Fangda Group has given out more than 1 billion yuan in cash to reward employees, and the group received a cash red envelope of 40,000 yuan per person.
Market: The stock price did not rise yesterday
Although there are hundreds of millions of cash favorable news, the stock price of Fangda Special Steel did not rise further yesterday.
Beijing Youth Daily reporter noticed that the company's stock price fell 1.01% to close at 15.61 yuan. From April to August last year, the stock started at 6.1 yuan. In less than 4 months, the stock price rose by 15 yuan, an increase of 146%. Afterwards, the stock built a stable price space of 12 yuan to 16 yuan in half a year.
It is also understood that after employees who have worked in Fangda Group for 5 years, Fangda Group will pay half of the expenses for moving into a local nursing home after retirement. Fangda Group's business scope includes carbon, steel, iron ore and real estate, and actually controls two listed companies, Fangda Special Steel and Fangda Carbon.
red envelope: 40,000 per person for front-line employees
It is understood that the company that sent gold red envelopes in the "Cash Wall" video is Jiujiang Pinggang Iron and Steel Co., Ltd., which is a wholly-owned subsidiary of Jiangxi Pinggang Industrial Co., Ltd., a subsidiary of Fangda Group. The "cash wall" made of cash piled up on the site of
red envelope distribution exceeds that of a normal adult and has a thickness of more than 1 meter. The "Cash Wall" reads "Red envelopes send deep affection, love urges people to enter", and then switches to another slogan "Thank you Chairman Fang Wei for your deep affection and affection for Jiugang employees."
A director of Fangda Group said, "This red envelope is only for ordinary employees of the company. The company's management does not have red envelopes on site, and there will be profit distribution awards in the future."
According to the director, in addition to Jiugang, companies under Fangda Group also distributed cash red envelopes on site. Taking the steel sector as an example, at Fangda Special Steel, the cash red envelope per capita of ordinary employees was 30,000 yuan; another subsidiary of Jiangxi Pinggang Industrial Co., Ltd., Pingxiang Pinggang Anyuan Steel Co., Ltd., employees received a cash red envelope of 20,000 yuan. Fangda Special Steel has more than 5,000 workers in the steel sector. Based on the per capita 30,000 yuan, the cash distributed on Fangda Special Steel has exceeded 150 million yuan; Pingtan has also issued more than 100 million yuan in cash. It is also understood that the cash red envelopes of Fangda Carbon employees, another listed company controlled by Fangwei, are the same as Jiugang, with an average of 50,000 yuan per person. The total number of Fangda Carbon employees is about 4,700, and the cash distributed on site exceeded 230 million yuan.
Group: The profit of the steel sector exceeds 10 billion
The reason why Fang Wei, chairman of the board of directors of Fangda Group, spent more than 1 billion yuan to find the cash reward for employees, you can guess that the company has made money without thinking too much. It is understood that Fangda Group only has a steel sector and has made profits of more than 10 billion yuan. Fangda Carbon, another listed company under Fangda Group, achieved a net profit of 2.216 billion yuan in the first three quarters of last year, with a growth rate of 3514.98%. Although the performance forecast for 2017 has not been disclosed, it is enough to see from the red envelope reward of 50,000 yuan per capita for Fangda Carbon employees that in 2017, Fangda Carbon's performance will be very bright.
Yesterday, the brokerage firm released the latest research report of Fangda Group, saying that the company recently released an announcement on the expected increase in performance in 2017, and is expected to achieve a net profit attributable to shareholders of listed companies of 2.43 billion yuan to 2.663 billion yuan in 2017, a year-on-year increase of 265% to 300%. It is expected that the net profit attributable to shareholders will reach 2.286 billion yuan to 2.519 billion yuan after deducting non-operating items, an increase of 255% to 292% year-on-year.According to the latest performance forecast, it is expected that the net profit attributable to the parent company will be RMB 285 million, RMB 420 million, RMB 835 million and RMB 1.007 billion (median) respectively in the first four quarters. According to this calculation, the EPS in the fourth quarter was 0.76 yuan, achieving the highest profit in a single quarter since the company went public.
research report also stated that in 2017, under the high demand level and flatness, production restrictions in the heating season further pushed the profits of construction steel to historical highs, and rebar profits showed continuous expansion in the first to fourth quarters. In early December, rebar profit reached the highest level for the whole year, and some companies even made a ton of profits of more than 1,800 yuan at one point. The company's construction steel production ratio is more than 80%, and the high profitability of its main products has become the most important factor in the significant improvement of its performance.
annual salary: The chairman of Fangda Special Steel was once ranked first
Fangda Special Steel has a well-known reputation in the capital market. According to the 2013 annual report, Zhong Chongwu, chairman of Fangda Special Steel, received a salary that surpassed Vanke Chairman Wang Shi, and ranked first among A-share executives with a salary of up to 19.7354 million yuan.
On April 2, 2014, Fangda Special Steel disclosed its 2013 performance, and the company achieved operating income of 13.2 billion yuan, a slight decrease of 1% year-on-year, and a net profit of 563 million yuan, a year-on-year increase of 7.5%. According to the financial report, the total salary of executives of Fangda Special Steel is 56.01 million yuan, and the salary of chairman Zhong Chongwu is 19.7354 million yuan (before tax), an annual salary of 15.167 million yuan (before tax) in 2012 increased by 30.12% year-on-year, accounting for 35% of executives’ salary. The 19.74 million yuan salary received by Zhong Chongwu in 2013 includes a basic salary of 2 million yuan and a reward salary of 17.74 million yuan. Wang Shi, who ranked first in 2013, received an annual salary of 15.9 million yuan.
According to public information, in 2012, Vanke Chairman Wang Shi ranked first among executives of A-share listed companies with an annual salary of 15.6 million yuan. In 2013, Wang Shi's annual salary rose slightly by 1.9%, reaching 15.9 million yuan. Compared with Wang Shi, Zhong Chongwu's salary increased by a larger increase in 2012, reaching 30%. In 2012, Zhong Chongwu's annual salary (before tax) reached 15.167 million yuan, ranking behind Wang Shi, but it increased by more than 6 times from the previous year's 2 million yuan. (Reporter Liu Shenliang)
News background
Some steel companies have 2017 performance forecast
Bayi Steel: It is expected to achieve a net profit of 1.163 billion yuan, which will increase by about 1.126 billion yuan compared with the same period last year (37 million yuan), an increase of about 3036% year-on-year.
Baosteel Co., Ltd. : It is expected that net profit will increase by 10.1 billion yuan to 10.8 billion yuan year-on-year, an increase of 113%-121%.
Jiugang Hongxing: Estimated net profit of 390 million yuan.
Taigang Stainless: It is expected to achieve a net profit of 4.4 billion yuan to 4.9 billion yuan, an increase of 284.06% to 327.70% year-on-year.
Linggang Co., Ltd.: It is expected to achieve a net profit of 1.072 billion yuan compared with the same period last year, an increase of about 874% year-on-year, and the net profit of 134 million yuan in the same period last year.
Hangzhou Steel Co., Ltd.: It is expected to achieve a net profit of 1.063 billion yuan compared with the same period last year, an increase of about 146.62% year-on-year, and the net profit of 725 million yuan in the same period last year.
Baosteel Co., Ltd.: It is expected to achieve a net profit of about 1.915 billion yuan compared with the same period last year, while the net profit of 85 million yuan in the same period last year, an increase of about 2252% year-on-year.
Shaogang Songshan: The estimated net profit is about 2.5 billion yuan, an increase of more than 23 times year-on-year.
Anyang Steel and Liugang Co., Ltd. : It is expected that net profit will increase by more than 11 times year-on-year.
Angang Co., Ltd. : The estimated net profit is about 5.678 billion yuan, a year-on-year increase of 251%.
