Core Viewpoint - ST Changyuan has faced three consecutive years of declining profits, with projections indicating a significant loss in 2024, yet the board and executives are seeking salary increases, raising concerns about the alignment of compensation with company performance [1][4]. Group 1: Salary Increases and Company Performance - The total salary for ST Changyuan's board and senior management for 2025 is proposed to be capped at 21.802 million yuan, with the current chairman and former chairman's combined salary not exceeding 5.171 million yuan, indicating a notable increase compared to 14.5537 million yuan in 2024 [2][3]. - The current chairman, Qiao Wenjian, has seen his salary rise significantly, with a cumulative increase of over 300% from 2022 to 2024, while the company's performance has deteriorated from a profit of 674 million yuan in 2022 to a projected loss of 978 million yuan in 2024 [3][4]. - The proposal for salary increases faced internal dissent, particularly from two directors representing the largest shareholder, who opposed the increase citing misalignment with the company's financial struggles and the new chairman's short tenure [2][3]. Group 2: Regulatory Changes and Governance - The China Securities Regulatory Commission (CSRC) issued revised Corporate Governance Guidelines, mandating that executive compensation be linked to company performance, aiming to enhance accountability and align management decisions with long-term goals [1][4][5]. - The new guidelines require companies to establish a compensation management system that aligns executive pay with company performance and personal achievements, promoting sustainable development [4][5]. - The CSRC's revisions also emphasize the need for mechanisms to reclaim or defer executive compensation in cases of poor performance, reinforcing the connection between pay and long-term value creation [5][6]. Group 3: Shareholder Response and Governance Practices - Following the concerns raised by the China Securities Investor Service Center, the proposed salary increase was ultimately rejected at the shareholders' meeting, with significant opposition votes against both the former and current chairman's salary proposals [6]. - The center's actions reflect a broader trend where minority investors are increasingly voicing their concerns regarding executive compensation, advocating for alignment with company performance [6]. - The center aims to enhance corporate governance and protect minority investors' rights, contributing to the overall quality of the capital market [6].

Core Viewpoint - The 2024 global CEO compensation ranking for scientific instrument companies reveals that Thermo Fisher's CEO tops the list with a salary exceeding 200 million yuan, amidst a backdrop of declining industry net profits and a growing focus on the linkage between executive pay and company performance [1][2]. Summary by Sections CEO Compensation Rankings - The ranking includes 13 multinational instrument companies, with Thermo Fisher's CEO Marc N. Casper earning 30.45 million USD, a 60.4% increase from the previous year. Other notable compensations include Danaher's Rainer M. Blair at 22.11 million USD and Agilent's Padraig McDonnell at 9.04 million USD [3][6]. - Five CEOs have annual salaries exceeding 10 million USD, with Thermo Fisher, Danaher, Agilent, Illumina, and AMETEK leading the list [6]. Industry Performance - The overall industry faced challenges, with many companies experiencing reduced profits and increased costs. Only five out of the 13 companies reported year-over-year net profit growth [6][9]. - The average net profit margin for the industry decreased from 15.7% in 2023 to 11.6% in 2024, reflecting a slowdown in industry growth [11]. CEO Pay and Company Performance - The compensation of CEOs is closely tied to company performance, with only three CEOs seeing a decrease in pay. Notably, Illumina's CEO saw a 215.5% increase in compensation despite a decline in company revenue and net profit [6][9]. - The ratio of CEO compensation to net profit varies, with the highest being 5.02% for Bio-Rad's CEO, while Thermo Fisher's CEO has the lowest at 0.48% [9]. Gender Representation - Veralto's CEO Jennifer L. Honeycutt is the only female CEO in the ranking, earning 11.53 million USD, a 22.8% increase from the previous year [8]. Executive Pay Structure - The article discusses the necessity of linking executive pay to company performance, emphasizing that high compensation should be justified by superior company results to align the interests of executives and shareholders [10][11].