Group 1 - The total salary scale for CFOs in A-share listed companies reached 4.27 billion yuan in 2024, with an average annual salary of 814,800 yuan [1] - The highest annual salary for a CFO in the jewelry industry was 2.122 million yuan paid to Jiang Xuefu of Jin Yi Culture, while the lowest was 128,300 yuan paid to Zhu Jianrui of Ruibeika [1] - Among companies that did not change their CFOs between 2023 and 2024, most increased their CFO salaries, with Jiang Xuefu's salary seeing the largest increase of 284.42% [1] Group 2 - In 2024, Jin Yi Culture reported a significant decline in performance, with revenue of 3.373 billion yuan, down 75.25% year-on-year, and a net profit of 15 million yuan, down 97.81% [3] - Diya Co. paid its CFO Huang Shuorong an annual salary of 1.2696 million yuan, but the company faced a revenue drop of 32.01% in 2024, reaching 1.482 billion yuan, marking a new low since its listing [3] - Cai Bai Co. paid its CFO Li Zhuo an annual salary of 1.1737 million yuan, but the company's gross profit margin has been declining, with rates of 11.22%, 10.68%, and 8.94% from 2022 to 2024 [4] Group 3 - Man Ka Long paid its CFO Fu Jie an annual salary of 1.0178 million yuan, but the company's gross profit margin also showed a downward trend, with rates of 16.59%, 14.64%, and 13.38% from 2022 to 2024 [4] - The average return on equity for Cai Bai Co. in 2024 was 18.73%, down 5.5% year-on-year, while Man Ka Long's was 6.08%, down 14.85% and below 7% [4]

Core Insights - The total compensation for CFOs in A-share listed companies reached 4.27 billion yuan in 2024, with an average annual salary of 814,800 yuan [1] - The highest annual salary for a CFO in the jewelry industry was 2.122 million yuan, while the lowest was 128,300 yuan [1] - Companies that did not change their CFOs in 2023 and 2024 mostly increased their CFO salaries, with the highest increase being 284.42% for the CFO of Jin Yi Culture [1] Group 1: CFO Compensation - The total salary scale for CFOs in A-share listed companies is 4.27 billion yuan, with an average salary of 814,800 yuan [1] - Jin Yi Culture paid its CFO, Jiang Xuefu, the highest salary of 2.122 million yuan, while Ruibeka paid its CFO, Zhu Jianrui, the lowest salary of 128,300 yuan [1] - Four companies paid their CFOs over 1 million yuan, including Jin Yi Culture, Diya Co., Caibai Co., and Mankalon [1] Group 2: Company Performance - Jin Yi Culture's performance declined significantly, with a revenue of 3.373 billion yuan, down 75.25%, and a net profit of 15 million yuan, down 97.81% [3] - Diya Co. reported a revenue of 1.482 billion yuan, a decrease of 32.01%, and has faced two consecutive years of net losses [3] - Caibai Co. showed a declining trend in profitability, with gross margins decreasing from 11.22% in 2022 to 8.94% in 2024 [4] - Mankalon's gross margin also declined from 16.59% in 2022 to 13.38% in 2024, with a return on equity of 6.08% in 2024, down 14.85% [4]

Market Overview - The jewelry sector experienced a slight decline of 0.07% on August 5, with Feiya leading the drop [1] - The Shanghai Composite Index closed at 3617.6, up 0.96%, while the Shenzhen Component Index closed at 11106.96, up 0.59% [1] Individual Stock Performance - Xinhua Jin (600735) saw a closing price of 7.91, with an increase of 2.46% and a trading volume of 230,800 shares, totaling a transaction value of 182 million yuan [1] - Chao Hong Ji (002345) closed at 15.48, up 2.11%, with a trading volume of 246,300 shares and a transaction value of 381 million yuan [1] - Jin Yi Culture (002721) closed at 3.81, up 1.60%, with a trading volume of 903,400 shares and a transaction value of 342 million yuan [1] - Feiya (000026) led the decline with a closing price of 16.96, down 4.02%, and a trading volume of 307,300 shares, resulting in a transaction value of 529 million yuan [2] Capital Flow Analysis - The jewelry sector saw a net outflow of 98.84 million yuan from institutional investors, while retail investors contributed a net inflow of 12.55 million yuan [2] - The main capital inflow was observed in Chao Hong Ji (002345) with a net inflow of 10.73 million yuan from institutional investors [3] - Jin Yi Culture (002721) experienced a net outflow of 14.09 million yuan from retail investors [3]

Group 1 - The core viewpoint is that in the current low bond yield environment, the attractiveness of high-quality companies is highlighted, and the semi-annual reports are expected to reinforce the revaluation logic of A-shares [1] - Improvement in free cash flow is driving an increase in the intrinsic value of companies, while the decline in stock yields for high intrinsic return rate stocks is leading to an increase in stock prices, reinforcing this market logic [1] - Certain essential consumer sectors (home appliances, household goods, jewelry, beauty care) and the TMT sector (consumer electronics, communication equipment) are maintaining steady growth or marginal improvement, while the mid-year performance of electricity and chemical pharmaceuticals is also expected to improve [1] Group 2 - The Cash Flow ETF (159399) tracks the FTSE China A-Share Free Cash Flow Focus Index (888888), which selects listed companies with stable free cash flow characteristics from the A-share market as index samples [1] - The index covers multiple industries and reflects the overall performance of listed companies with long-term value growth potential by focusing on financially healthy and cash-rich targets [1] - The fund emphasizes a value investment style, highlighting the intrinsic quality and sustainable operational capabilities of companies [1]

Market Overview - The jewelry sector increased by 2.22% on August 4, with Feiya leading the gains [1] - The Shanghai Composite Index closed at 3583.31, up 0.66%, while the Shenzhen Component Index closed at 11041.56, up 0.46% [1] Individual Stock Performance - Feiya (000026) closed at 17.67, up 7.42% with a trading volume of 315,700 shares and a turnover of 542 million [1] - Chao Hong Ji (002345) closed at 15.16, up 6.61% with a trading volume of 320,900 shares and a turnover of 478 million [1] - Man Ka Long (300945) closed at 19.43, up 3.74% with a trading volume of 215,500 shares and a turnover of 415 million [1] - Ying Xi Tong Ling (603900) closed at 9.94, up 3.65% with a trading volume of 224,500 shares and a turnover of 221 million [1] - Other notable performers include Cai Zi Co. (6655509) up 3.25%, and Cui Hua Jewelry (002731) up 2.78% [1] Fund Flow Analysis - The jewelry sector saw a net inflow of 137 million from institutional investors, while retail investors experienced a net outflow of 137 million [2] - The main stocks with significant net inflows include Feiya with 51.93 million and Chao Hong Ji with 49.49 million [3] - Retail investors showed a net outflow in several stocks, with Feiya and Chao Hong Ji experiencing outflows of 35.79 million and 42.44 million respectively [3]

Group 1 - The total salary for A-share secretaries reached 4.086 billion yuan in 2023, with an average salary of 754,300 yuan [1] - Among the jewelry industry, the highest annual salary for a secretary was 1.8582 million yuan paid by Feiya for secretary Song Yaoming, while the lowest was 252,500 yuan paid by Mingpai Jewelry for secretary Chen Kai [1] - Three companies paid their secretaries over 1 million yuan, namely Di'a Shares, Caibai Shares, and Feiya [1] Group 2 - In 2024, Feiya's revenue declined by 13.77%, and its net profit dropped by 33.86%, marking a five-year low for both metrics [2] - Di'a Shares paid its secretary 1.2696 million yuan, ranking third in the food industry, while its revenue fell to 1.482 billion yuan, a decrease of 32.01% [2] - Di'a Shares has faced continuous losses in net profit for two consecutive years [2]

责任编辑：公司观察 专题：专题|2024年度A股董秘数据报告：1144位董秘年薪超百万 占比超21% 炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 数据显示，截止7月29日，A股市场共有5817家上市公司。董秘作为连接投资者与上市公司的"桥梁"， 在上市公司资本运作中发挥着关键作用。据2024年年报显示，去年A股董秘薪酬合计达40.86亿元，平均 薪酬75.43万元。 随着年报披露收官，饰品行业上市公司董秘薪酬面纱也被揭开。据数据统计，饰品行业上市公司为董秘 支付的最高年度薪酬是飞亚达，为董秘宋瑶明支付年薪185.82万元；为董秘支付的最低年度薪酬是明牌 珠宝股，为董秘陈凯支付年薪仅25.25万元。其中为董秘发放超百万年薪的上市公司共有3家，分别为迪 阿股份、菜百股份、飞亚达。 从年薪的变动来看，2024未变更董秘的上市公司中，多数上市公司调减了董秘年薪，其中中国黄金董秘 陈军年薪腰斩，由2023年的101.46万年薪同比减少54%至47.46万元。调增董秘年薪的上市公司中，周大 生董秘何小林年薪增幅最大，年薪有2023年的35.55万元增长至88.1万元，同比 增长147.82% ...

专题：专题|2024年度A股董秘数据报告：1144位董秘年薪超百万 占比超21% 飞亚达2024年为董秘宋瑶明支付年薪185.82万元，是饰品行业最高。值得关注的是，飞亚达2024年经营 状况并不容乐观，2024年公司营收同比下滑13.77%，名表服务业务下滑15.43%；归母净利润2.2亿元， 同比暴跌33.86%，公司营收、净利润分创近5年新低。 炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 数据显示，截止7月29日，A股市场共有5817家上市公司。董秘作为连接投资者与上市公司的"桥梁"， 在上市公司资本运作中发挥着关键作用。据2024年年报显示，去年A股董秘薪酬合计达40.86亿元，平均 薪酬75.43万元。 随着年报披露收官，饰品行业上市公司董秘薪酬面纱也被揭开。据数据统计，饰品行业上市公司为董秘 支付的最高年度薪酬是飞亚达，为董秘宋瑶明支付年薪185.82万元；为董秘支付的最低年度薪酬是明牌 珠宝股，为董秘陈凯支付年薪仅25.25万元。其中为董秘发放超百万年薪的上市公司共有3家，分别为迪 阿股份、菜百股份、飞亚达。 从年薪的变动来看，2024未变更董秘的上市公司中，多数上 ...

从年薪的变动来看，2024未变更董秘的上市公司中，多数上市公司调减了董秘年薪，其中中国黄金董秘 陈军年薪腰斩，由2023年的101.46万年薪同比减少54%至47.46万元。调增董秘年薪的上市公司中，周大 生董秘何小林年薪增幅最大，年薪有2023年的35.55万元增长至88.1万元，同比 增长147.82%。 专题：专题|2024年度A股董秘数据报告：1144位董秘年薪超百万 占比超21% 炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 数据显示，截止7月29日，A股市场共有5817家上市公司。董秘作为连接投资者与上市公司的"桥梁"， 在上市公司资本运作中发挥着关键作用。据2024年年报显示，去年A股董秘薪酬合计达40.86亿元，平均 薪酬75.43万元。 随着年报披露收官，饰品行业上市公司董秘薪酬面纱也被揭开。据数据统计，饰品行业上市公司为董秘 支付的最高年度薪酬是飞亚达，为董秘宋瑶明支付年薪185.82万元；为董秘支付的最低年度薪酬是明牌 珠宝股，为董秘陈凯支付年薪仅25.25万元。其中为董秘发放超百万年薪的上市公司共有3家，分别为迪 阿股份、菜百股份、飞亚达。 飞亚达2024年 ...

Summary of Key Points Core Viewpoint - The 2024 A-share Secretary Data Report reveals that over 21% of secretaries in the A-share market earn annual salaries exceeding one million yuan, highlighting the significant role of secretaries in connecting investors and listed companies [1]. Group 1: Salary Data - As of July 29, there are 5,817 listed companies in the A-share market, with a total salary expenditure for secretaries reaching 4.086 billion yuan, averaging 754,300 yuan per secretary [1]. - In the jewelry industry, the highest annual salary for a secretary is 1.8582 million yuan paid by Feiya, while the lowest is 252,500 yuan paid by Mingpai Jewelry [1]. - Three companies, including Di'a Shares, Caibai Shares, and Feiya, have secretaries earning over one million yuan annually [1]. Group 2: Salary Changes - Among companies that did not change their secretaries, most reduced their salaries, with China Gold's secretary seeing a 54% decrease from 1.0146 million yuan to 474,600 yuan [1]. - Zhou Dazheng's secretary, He Xiaolin, experienced the largest salary increase, rising from 355,500 yuan in 2023 to 881,000 yuan, a 147.82% increase [1]. Group 3: Company Performance - Feiya's secretary, Song Yaoming, received the highest salary in the jewelry sector, but the company faced a 13.77% decline in revenue and a 33.86% drop in net profit, marking a five-year low [2]. - Di'a Shares paid its secretary, Huang Shuizhong, 1.2696 million yuan, but the company reported a 32.01% decrease in revenue, reaching 1.482 billion yuan, and has faced two consecutive years of net profit losses [2].