专题：专题|2024年度A股CFO数据报告：美的集团钟铮年薪946万，比亚迪周亚琳896万 机械设备行业CFO薪酬平均数约为64.23万元。其中2024年薪酬最高为三一重工财务总监刘华，高达450.86万元；薪酬最低为天地科技财务总监王志刚，仅9.41万元。 从CFO学历分布来看，博士、硕士、本科、专科及以下分别为5人、143人、317人、94人（不含未披露），整体本科学历在CFO群体中占最大，达57%，高学历（硕士及以上）占比26%，而专科 在专科及以下学历的CFO群体中，共有6名CFO其2024年年度薪酬超过100万元。其中，中际联合任慧玲以284万元薪酬居行业第四。 在上市公司治理生态里，高管薪酬本应是"价值创造"的晴雨表，昊志机电（维权）财务总监肖泳林的薪酬走向，却成为观察公司治理矛盾的独特样本。2024年，肖泳林的薪酬达到124.08万元 肖泳林，1979年4月出生，中南财经政法大学工商管理硕士（EMBA）背景。其职业履历呈现典型的"多职合一"特征：1997年起涉足企业财务管理，2010年10月入职昊志机电任财务总监，后逐 初看肖泳林的薪酬水平，会发现其和公司盈利水平呈现出较强挂钩关系。公司盈利时， ...

专题：专题|2024年度A股CFO数据报告：美的集团钟铮年薪946万，比亚迪周亚琳896万 作为上市公司核心管理层关键成员，财务总监CFO的地位与作用至关重要。新浪财经《2024年度A股 CFO数据报告》显示，2024年A股上市公司财务总监CFO群体薪酬规模合计达42.70亿元，平均年薪为 81.48万元。 分行业来看，机械设备行业CFO的年龄平均数约为47.37岁。其中，金道科技林捷及上海沪工杨福娟均 为67岁，为行业内年龄最大CFO；欧克科技陈真29岁，为行业内年龄最小CFO。 机械设备行业CFO薪酬平均数约为64.23万元。其中2024年薪酬最高为三一重工财务总监刘华，高达 450.86万元；薪酬最低为天地科技财务总监王志刚，仅9.41万元。 从CFO学历分布来看，博士、硕士、本科、专科及以下分别为5人、143人、317人、94人（不含未披 露），整体本科学历在CFO群体中占最大，达57%，高学历（硕士及以上）占比26%，而专科及以下占 比17%，整体较低学历占比较其他行业更高。 在专科及以下学历的CFO群体中，共有6名CFO其2024年年度薪酬超过100万元。其中，中际联合任慧玲 以284万元薪酬居行 ...

Core Insights - The report highlights the significant role of CFOs in listed companies, with the total compensation for CFOs in A-share companies reaching 4.27 billion yuan in 2024, averaging 814,800 yuan per year [1] - The average age of CFOs in the machinery and equipment sector is approximately 47.37 years, with the oldest being 67 years and the youngest at 29 years [1] - The highest reported CFO salary in 2024 is 4.51 million yuan, while the lowest is 94,100 yuan [1] - A total of 6 CFOs with a diploma or below earned over 1 million yuan in 2024, with Ren Huiling from Zhongji United earning 2.84 million yuan, ranking fourth in the industry [3][4] Industry Overview - The average salary for CFOs in the machinery and equipment sector is about 642,300 yuan [1] - The educational background of CFOs shows that 57% hold a bachelor's degree, while 26% have a master's degree or higher, indicating a relatively low level of higher education compared to other industries [1] Case Study: Xiaoyong Lin from Haoshi Electromechanical - Xiaoyong Lin's salary reached 1.24 million yuan in 2024, reflecting a 109% increase from 2023, which raises concerns about governance issues within the company [5][6] - His compensation is closely tied to the company's performance, with high performance metrics during profitable years and significantly lower during losses [6] - Despite his salary being linked to performance, Lin has faced multiple regulatory violations, indicating a potential conflict of interest and governance failures [8][9]

Core Insights - The report highlights the significant role of CFOs in listed companies, with the total compensation for CFOs in A-shares reaching 4.27 billion yuan in 2024, averaging 814,800 yuan per year [1] - The average age of CFOs in the machinery and equipment sector is approximately 47.37 years, with the oldest being 67 years and the youngest at 29 years [1] - The highest-paid CFO in 2024 is Liu Hua from Sany Heavy Industry, earning 4.51 million yuan, while the lowest is Wang Zhigang from Tiandi Technology at 94,100 yuan [1] - Among CFOs with lower education levels, six have salaries exceeding 1 million yuan, with Ren Huiling from Zhongji United earning 2.84 million yuan, ranking fourth in the industry [3][4] Industry Overview - The average salary for CFOs in the machinery and equipment sector is about 642,300 yuan, with significant disparities in compensation [1] - The educational background of CFOs shows that 57% hold a bachelor's degree, while 26% have a master's degree or higher, indicating a relatively low level of higher education compared to other industries [1] - The governance structure within companies is highlighted by the case of Xiao Yonglin from Haoshi Electromechanical, whose salary increased by 109% to 1.24 million yuan in 2024 despite previous compliance issues [5][6][8] - Xiao's case illustrates the potential conflicts of interest and governance challenges, as he was involved in multiple compliance violations while maintaining a close relationship with the company's controlling shareholder [8][9]

Core Insights - The report highlights the significant role of company secretaries (董秘) in connecting investors and listed companies, with a total salary of 4.086 billion yuan for A-share company secretaries in 2024, averaging 754,300 yuan per year [1] - The mechanical equipment industry has an average salary of 642,500 yuan for its company secretaries, with the highest salary reaching 6.2217 million yuan [1] - The report indicates a high level of education among company secretaries, with a notable number holding advanced degrees [5] Salary Distribution - In 2024, the total salary for A-share company secretaries reached 4.086 billion yuan, with an average salary of 754,300 yuan [1] - The mechanical equipment industry has an average salary of approximately 642,500 yuan, with the highest being 6.2217 million yuan for the secretary of Saiteng Co., Ltd. [1] - A significant portion of company secretaries, 42%, earn below 500,000 yuan, totaling 246 individuals [1] Age and Education - The average age of company secretaries in the mechanical equipment industry is approximately 47.77 years, with the majority (44%) aged between 40-49 [3] - There are only three company secretaries under the age of 30, with one earning 760,000 yuan, which is above the industry average [3] - The educational background shows a high proportion of individuals with advanced degrees, including 16 PhDs and 236 master's degree holders [5] Compliance and Violations - A total of 41 company secretaries in the mechanical equipment sector faced regulatory warnings or criticisms for violations in 2024-2025 [8] - Five individuals, including Ye Xingbo from Xianheng International, have been noted for three violations, despite earning above the industry average [8] - Specific cases of severe violations include Xiao Yonglin from Haoshi Electromechanical, who was fined 2 million yuan for market manipulation, and Zhu Mengyong from Xinlai Materials, who faced a total penalty of 2.1664 million yuan for insider trading [7][9]

Core Insights - The company, Haozhi Electromechanical, reported a revenue of 703 million yuan for the first half of 2025, marking a year-on-year increase of 14.21% [1] - The net profit attributable to shareholders reached 63.38 million yuan, up 15.41% compared to the previous year [1] - The company has a significant accounts receivable issue, with accounts receivable amounting to 862.5% of the net profit [1] Financial Performance - Total revenue for 2025 H1: 703 million yuan, up 14.21% from 616 million yuan in 2024 H1 [1] - Net profit for 2025 H1: 63.38 million yuan, up 15.41% from 54.92 million yuan in 2024 H1 [1] - Non-recurring net profit for 2025 H1: 44.22 million yuan, a substantial increase of 45.08% from 30.48 million yuan in 2024 H1 [1] - Gross margin: 35.84%, a slight decrease of 0.32% from 35.95% [1] - Net margin: 8.97%, unchanged from the previous year [1] - Total expenses (selling, administrative, financial): 133 million yuan, accounting for 18.85% of revenue, down 3.0% year-on-year [1] Cash Flow and Debt - Cash and cash equivalents increased by 39.1% due to higher sales collections [1][4] - Short-term borrowings rose by 70.72% due to increased loans from financial institutions [2] - Contract liabilities increased by 94.74% due to higher prepayments and sales rebates [2] Asset and Liability Changes - Accounts receivable increased by 23.21% to 715 million yuan, driven by higher sales [1][2] - Inventory rose by 10.16% due to increased sales and stockpiling [2] - Long-term borrowings decreased by 19.72% as some were reclassified to current liabilities [2] Other Financial Metrics - Earnings per share for 2025 H1: 0.21 yuan, up 16.67% from 0.18 yuan in 2024 H1 [1] - Net asset value per share: 4.13 yuan, an increase of 10.09% from 3.75 yuan [1] - Operating cash flow per share: 0.08 yuan, a slight increase of 2.12% [1] Business Model and Market Position - The company's return on invested capital (ROIC) was 6.87%, indicating average capital returns [20] - The business model relies heavily on research and marketing efforts, necessitating further investigation into these drivers [20]

Revenue and Profit - The company achieved total revenue of 703 million yuan in the first half of 2025, representing a year-on-year increase of 14.21% [2] - The net profit attributable to shareholders was 63.38 million yuan, up 15.41% year-on-year [2] - The non-recurring net profit reached 44.22 million yuan, showing a significant increase of 45.08% year-on-year [2] - In Q2 alone, the revenue was 416 million yuan, a 16.54% increase year-on-year, with a net profit of 47.80 million yuan, up 18.48% [2] Main Business Composition - Revenue from spindle products was 454 million yuan, accounting for 64.56% of total revenue, with a gross margin of 34.64% [3] - Motion control products generated 134 million yuan in revenue, representing 19.09% of total revenue, with a gross margin of 41.42% [3] - Functional components like turntables and linear motors contributed 69.36 million yuan, making up 9.86% of total revenue, with a gross margin of 41.30% [3] - Core components for robots generated 12.21 million yuan, accounting for 1.74% of total revenue, but with a negative gross margin of -15.17% [3] Financial Indicators - Accounts receivable stood at 715 million yuan, a year-on-year increase of 23.21%, which is 862.5% of the latest annual net profit [5] - Interest-bearing debt was 838 million yuan, up 8.51% year-on-year, with an interest-bearing asset-liability ratio of 27.67% [5] - Cash and cash equivalents amounted to 99.33 million yuan, a 66.04% increase, but cash only constituted 3.59% of total assets [6] Cash Flow Situation - The cash flow situation is concerning, with cash equivalents making up only 12.96% of current liabilities, and the average operating cash flow over the past three years being 16.27% of current liabilities [6] Summary - Overall, the company's mid-2025 report indicates steady growth in revenue and net profit, particularly in non-recurring net profit [7] - However, the large scale of accounts receivable, high debt levels, and cash flow pressures are factors that require close attention from investors [7]

Core Insights - The company reported a revenue of 703 million yuan for the first half of 2025, representing a year-on-year growth of 14.21%, and a net profit attributable to shareholders of 63.38 million yuan, up 15.41% year-on-year [1] - The growth in performance is attributed to the rapid increase in sales of the company's main spindle products and significant progress in orders for core components of robots [1] Business Segment Analysis - The spindle products achieved a sales revenue of 454 million yuan, a year-on-year increase of 27.17%, accounting for 64.56% of the main business revenue, making it the core revenue source for the company [2] - Sales of core functional components for robots reached 12.21 million yuan, a remarkable year-on-year growth of 127%, driven by the accelerated development of the industry [2] - The company introduced a vibration dimension standard system for harmonic reducers, achieving a 60% reduction in vibration peak and a 66.7% improvement in transmission accuracy, setting a new technical benchmark in the precision transmission field [2] Additional Developments - The sales revenue from guide rails and screws was 23.76 million yuan, reflecting a year-on-year growth of 39.17%, benefiting from accelerated domestic production and expanded supporting demand [3] - The company announced a stock incentive plan, granting 918,000 restricted shares at a price of 6.45 yuan per share to 27 eligible individuals, with performance targets set for net profits in the coming years [3]

Core Viewpoint - Haoshi Electromechanical Co., Ltd. reported a revenue of approximately 703 million yuan for the first half of 2025, representing a year-on-year growth of 14.21%, and a net profit attributable to shareholders of 63.38 million yuan, up 15.41% year-on-year [2][3] Financial Performance - Revenue for the reporting period was 703,223,171.69 yuan, compared to 615,705,227.09 yuan in the same period last year, reflecting a growth of 14.21% [3] - Net profit attributable to shareholders was 63,382,376.16 yuan, an increase from 54,917,914.03 yuan, marking a growth of 15.41% [3] - Net profit excluding non-recurring gains and losses was 44,215,093.71 yuan, up 45.08% from 30,476,870.25 yuan [3] - Basic and diluted earnings per share were both 0.21 yuan, an increase of 16.67% from 0.18 yuan [3] - The weighted average return on equity was 5.13%, up from 4.88% [3] Business Segments - The core business of high-end equipment manufacturing includes CNC machine tools, robots, and core components for new energy vehicles, with significant growth in demand across these sectors [4] - The spindle products achieved rapid growth, generating over 450 million yuan in sales, a year-on-year increase of 27.17%, accounting for 64.56% of total operating revenue [4] - The robot core functional components business saw sales revenue of 12.21 million yuan, a remarkable growth of 127%, representing 1.74% of the main business revenue [5] Market Dynamics - The demand for specialized processing equipment in the PCB industry has significantly increased due to rapid growth in AI computing infrastructure and continuous upgrades in consumer electronics [4] - The company has successfully developed a range of core components for intelligent robots, achieving full domestic production and breaking reliance on imports [6] - The products, including harmonic reducers and joint modules, cater to various industries such as automotive manufacturing, metal products, food and beverage, and logistics, indicating a broad application scope [6]

Group 1 - The meeting of the fifth supervisory board of Guangzhou Haozhi Electromechanical Co., Ltd. was convened and held on July 25, 2025, with all procedures complying with relevant laws and regulations [1][2] - The supervisory board approved the proposal regarding the company's 2025 semi-annual report, confirming that the report accurately reflects the company's actual situation without any false records or misleading statements [1][2] - The supervisory board also approved the special report on the storage and actual use of raised funds for the first half of 2025, affirming compliance with regulatory requirements and proper disclosure of fund usage [2]