BAIRUN CORPORATION(SZ:002568) Sou Hu Cai Jing·2025-06-19 06:00Core Viewpoint - Baijun Co., Ltd. reported a decline in both revenue and net profit for the year 2024, while executive compensation saw an increase, raising questions about management practices and performance alignment [1][3]. Financial Performance - The company achieved revenue of approximately 3.048 billion yuan, representing a year-on-year decrease of 6.61% [3]. - The net profit attributable to shareholders was about 719 million yuan, down 11.15% compared to the previous year [3]. Executive Compensation - Executive compensation for 2024 was notably high, with Vice President Li Yongfeng earning 1.697 million yuan, surpassing other executives [3]. - Other vice presidents, Ma Liang and Lin Liying, received salaries of 1.645 million yuan and 1.56 million yuan, respectively [3]. - Chairman Liu Xiaodong's salary was reported at 1.38 million yuan, while the board secretary Wang Chen earned 131,500 yuan [3]. Management Background - Li Yongfeng, born in 1973 and holding a Master's degree in Business Administration, has a relevant background in the company's core business [3]. - He worked at Shanghai Baijun Investment Holding Group from 2016 to September 2021, serving as the General Manager of the Flavor Division [3]. - Li was promoted to Vice President in September 2024, raising questions about whether his reported salary reflects the full year or only the period after his promotion [3]. Shareholding Information - Despite Li Yongfeng's high salary, he holds only 28,000 shares, significantly lower than Lin Liying's 3.768 million shares [3].