老白干酒副董事长张煜行去年薪酬51万元低于另一副董事长王占刚

Core Viewpoint - Laobaigan Liquor reported a growth in both revenue and profit for the first half of 2025, continuing the upward trend from 2024, despite a significant decline in cash flow from operating activities [1][3]. Financial Performance - In 2024, Laobaigan Liquor achieved a revenue of 5.358 billion yuan, a slight increase of 1.91% year-on-year, and a net profit attributable to shareholders of 787 million yuan, up 18.19% [3]. - For the first half of 2025, the company reported a revenue of 2.481 billion yuan, reflecting a year-on-year increase of 0.48% [3]. - The total profit for the first half of 2025 was 430 million yuan, marking a 4.27% increase compared to the same period last year [3]. - The net profit attributable to shareholders for the first half of 2025 was 320 million yuan, which is a 5.42% increase year-on-year [3]. - The net cash flow from operating activities for the first half of 2025 was -45.801 million yuan, a decline of 120.51% compared to the previous year, indicating potential financial pressure [3]. Executive Compensation - Despite the growth in performance, the compensation for Vice Chairman Zhang Yuhang remained stable at 510,000 yuan for 2024, consistent for three consecutive years, which is lower than that of another Vice Chairman, Wang Zhanggang, who earned 600,000 yuan [3]. - The executive compensation levels at Laobaigan are considered low within the liquor industry [3]. Shareholding and Reduction Plans - Zhang Yuhang holds 270,000 shares in the company, which is the same as the Deputy General Manager, while Wang Zhanggang holds 300,000 shares, aligning with the Chairman and General Manager [4]. - Zhang Yuhang had previously disclosed a share reduction plan in February 2025 but did not execute any sales during the planned period, maintaining his shareholding [6][7].