Midea Group's 56-Year-Old Vice President Fu Yongjun Steps Down, Earned Over 10 Million Yuan for Two Consecutive Years

Deep News
2025/12/27

On December 26, Midea Group Co.,Ltd. (000333.SZ) announced that Fu Yongjun has resigned from his position as Vice President for personal reasons. Following his departure, Fu Yongjun will no longer hold any other positions within the company. Public records indicate that Fu Yongjun joined the company in 1999 and previously held roles including General Manager of the Environmental Appliances Business Unit, General Manager of the Components Business Unit, President of the Electromechanical Business Unit, President of the Industrial Technology Business Group, and served as a company director.

Regarding compensation, Fu Yongjun's total pre-tax remuneration from the company in 2024 was 11.85 million yuan, an increase of 310,000 yuan compared to the 11.54 million yuan he received in 2023. It is noteworthy that according to Midea Group's 2024 annual report, the total remuneration for the company's directors, supervisors, and senior management amounted to 134 million yuan. Among them, the highest-paid executive was 39-year-old Zhao Lei, with an annual salary of 15 million yuan, while Chairman and President Fang Hongbo received an annual salary of 13.78 million yuan.

As of the announcement date, Fu Yongjun holds 200,000 shares in the company. With Midea Group's closing share price at 78.87 yuan on Friday, giving the company a market capitalization of 599.2 billion yuan, the value of Fu Yongjun's shareholding is approximately 15.77 million yuan.

For the first three quarters of this year, Midea Group achieved a total operating revenue of 364.72 billion yuan, a year-on-year increase of 13.8%; net profit attributable to shareholders was 37.88 billion yuan, reflecting a growth of 19.5%. Notably, in the third quarter alone, the company's operating revenue once again surpassed the 100-billion-yuan mark, reaching 112.4 billion yuan.

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