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Core Viewpoint - The recent salary reduction controversy at Peak has escalated, with reports indicating that employees who refuse to accept salary cuts are being threatened with salary suspension starting September 2025 [1][4][10]. Group 1: Salary Reduction Details - Peak announced a collective tiered salary reduction in mid-September, with some employees facing cuts of up to 50% without adequate consultation [4][10]. - The company has implemented a policy where employees must submit a self-criticism to avoid salary suspension, which has been met with strong resistance from staff [6][9]. - The chairman of Peak, Xu Jingnan, stated that the internal sales division has incurred a loss of over 130 million yuan from January to July, prompting the salary adjustments [10][12]. Group 2: Legal and Regulatory Response - The Quanzhou Human Resources and Social Security Bureau has acknowledged receiving complaints and stated that if salary deductions are made without employee consent, it would be illegal [2][3]. - The local labor protection center has opened a case regarding the complaints from Peak employees and is pursuing labor arbitration [3][10]. - Legal experts have indicated that the requirement for employees to write self-criticisms in exchange for salary payments violates labor contract laws [3][7]. Group 3: Company Performance and Future Plans - Peak's external sales have reportedly increased by over 200,000 pairs in the first eight months of the year, maintaining stability despite internal challenges [12]. - The company aims to achieve 10 billion yuan in external sales and 20 billion yuan in internal sales as part of its ten-year plan [12]. - Peak's revenue for the previous year was reported at 6.29 billion yuan, ranking 91st in the list of top 100 private enterprises in Fujian Province [13].

Core Points - The company, Peak, is facing a significant controversy regarding collective salary reductions, with reports indicating that employees who refuse to accept pay cuts are being threatened with salary suspension starting September 2025 [1][5][10] - The local labor protection authority has stated that any salary reduction without employee consent violates labor laws, and the practice of requiring employees to write self-criticisms in exchange for salary retention is also illegal [4][10] - The chairman of Peak, Xu Jingnan, revealed that the company has been experiencing substantial losses in its domestic sales sector, amounting to over 130 million yuan from January to July this year, prompting the need for salary adjustments [10][11] Salary Reduction Controversy - In mid-September, Peak announced a collective tiered salary reduction, with some employees facing cuts of up to 50% without prior consultation [5][10] - Employees have reported receiving notices that those who submit objections to the pay cuts will be deemed non-compliant with company management, affecting their salary calculations [8][10] - The company has set a minimum salary guarantee of 3,000 yuan, while the overall salary reduction is claimed to be less than 10% [11] Company Financial Performance - The domestic sales division of Peak has been struggling, leading to the decision to implement salary cuts, with the chairman indicating that adjustments will vary based on salary brackets [10][11] - Despite the domestic challenges, Peak's export business has reportedly seen growth, with plans to achieve significant revenue targets in the coming years [11][13] - Peak's revenue for the previous year was reported at 6.29 billion yuan, ranking 91st in the list of top 100 private enterprises in Fujian province [13]

Core Viewpoint - Recent salary cuts at Peak Group have sparked public concern, with reports of employees facing penalties for refusing to accept pay reductions [1][2] Group 1: Salary Cuts and Employee Response - Peak Group has issued ultimatums to employees who refuse salary cuts, demanding a "reflection report" by October 14, or face suspension of September wages [1] - The local labor authority has stated that while internal management practices are not directly regulated, withholding wages under these circumstances would be illegal [1] - The labor protection center has initiated a case regarding employee complaints and is facilitating labor arbitration for affected employees [1] Group 2: Management Decisions and Financial Performance - Chairman Xu Jingnan announced salary adjustments during a high-level meeting, with reductions ranging from 10% to 50% based on salary brackets and department performance [2] - The rationale for these salary cuts stems from significant losses in the direct sales sector, amounting to over 130 million yuan from January to July [2] - Despite the internal challenges, Peak's export business has seen growth, with plans to achieve over 10 billion yuan in exports and 20 billion yuan in domestic sales as part of a ten-year strategy [2] Group 3: Company Background and Historical Context - Peak was founded in 1989 and is headquartered in Quanzhou, Fujian, focusing on the design, development, manufacturing, and distribution of sports products [2] - The company has faced challenges in the past, including two failed IPO attempts before successfully listing in Hong Kong in 2009, and subsequently privatizing in 2016 [3] - In 2022, Peak reported revenues of 6.29 billion yuan, ranking 91st in the list of top 100 private enterprises in Fujian province [3]