ST Engineering achieved a record high net profit last year, and the compensation of its President and CEO, Zhong Sifeng, also surged significantly for the past fiscal year. His cash salary increased by 18% from 3,946,794 yuan in 2023 to 4,662,403 yuan.

According to the annual report for the fiscal year 2024 released by ST Engineering on Wednesday (March 26), of the 4,662,403 yuan in cash compensation received by Zhong Sifeng last year, the variable cash award accounted for the largest portion, with a proportion of 70.9%, while the rest was salary and benefits.

In addition to cash compensation, Zhong Sifeng also receives stock awards. For the stock compensation, the shares allocated will be evaluated based on one - to six - year performance targets, and the vested shares will ultimately depend on whether the targets are met.

The group's net profit in the second half of last year increased by 19.6% year-on-year to 365.7 million yuan, driving the full-year net profit to rise by almost the same margin to 702.3 million yuan, hitting a new high. The annual earnings per share were 22.53 cents, up 19.7% year-on-year, and the return on equity increased by 2.5 percentage points to 26.3%.

Meanwhile, the group has formulated a new five-year plan, aiming to achieve a group revenue of 17 billion yuan by 2029, with the compound annual growth rate (CAGR) of net profit being up to five percentage points higher than that of revenue. In addition, the group also announced a full-year dividend of 18 cents per share for this year.