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  金通社

  4月17日晚间,在港上市的珍酒李渡披露了完整的2024年财报,高管的薪酬情况也呈现在投资者面前。

  财报显示,珍酒李渡的5名执行董事中,有3人年薪超千万。其中,首席执行官颜涛年薪最高,为1538.8万元;其次为副总裁朱琳和罗永红,年薪分别为1180.4万元和1180.2万元。而有着“白酒教父”之称的董事会主席吴向东年薪为566.2万元。

  超千万的年薪主要来源于股权激励付款,其中,颜涛的股权激励付款为1006万元,朱琳和罗永红均为924.1万元。

  即使不考虑股权激励付款,这3名高管的薪酬,相比2023年也有大幅增加。颜涛由477.8万元增加到532.8万元;朱琳由233.3万元增加到256.3万元;罗永红由224.8万元增加到256.1万元。

  然而,珍酒李渡2024年的业绩增幅却远远低于高管薪酬的增幅。全年营业收入为70.67亿元,同比微增0.5%。这一增速创下2021年以来新低,其中,下半年营收同比下滑16.5%。

  2024年实现归母净利润13.24亿元,相比2023年的23.27亿元同比大幅下滑43.1%。净利润骤降的主因是金融工具公允价值变动、股权激励费用等非经营性因素,以及高端产品动销不及预期。经调整后净利润为16.76亿元,同比增长3.3%。

  从市值来看,珍酒李渡在2024年大幅下挫。2024年首个交易日收盘价为9.147港元,最后一个交易日收盘价为6.790港元,全年股价下降25.8%。

  无论是市值还是经营业绩,珍酒李渡均难言成绩优异,但高管的薪酬却大幅上涨,珍酒李渡在财报中并没有对此做出过多解释,只是表示,公司已成立薪酬委员会,以审阅公司所有董事及高级管理层薪酬的薪酬政策及架构。董事以袍金、薪金、花红、其他津贴、实物福利和退休计划供款的形式收取薪酬,根据各董事的职责、资格、职位和资历厘定董事的薪酬。

  金通社注意到,珍酒李渡最高薪酬人士并不在公司董事中。财报信息显示,公司5名最高薪酬人士中有4名为董事,另有1名人士年薪高达1724.1万元,相当于每天收入近5万元。

  具体来看,这名最高薪酬人士的薪金及其他酬金为200.4万元,退休计划供款为3.3万元,股权激励付款为1520.4万元,合计薪酬为1724.1万元。

  比首席执行官拿的激励股权都多,这名员工到底是谁?财报中并没有透露更多的信息。

  虽然珍酒李渡天价薪酬人士频出,在白酒行业绝对算得上薪酬的“豪华天团”,但其核心产品在2024年却出现了下降,如此来看,天价股权激励的效果并不明显。

  珍酒贡献了公司63.4%的收入,但珍酒2024年收入却同比减少2.3%,由45.83亿元下降到44.79亿元。在财报中珍酒李渡解释称,业绩下降是由于珍酒于2024年下半年有意减缓了珍三十产品的市场扩张节奏,并削减了珍十五和珍三十的支线产品,以稳定市场价格并谋求长期发展;另外基于产品结构优化策略,珍酒的电商业务削减了部分单价较低、毛利率不高的中低端产品。

  与业绩不相适应的是,珍酒李渡的行政开支由2023年的4.79亿元大幅增加到2024年的5.76亿元,增幅为20.4%。

  金通社注意到,珍酒李渡的高管团队在2024年并非都是加薪。执行董事、公司秘书吴光曙由2023年的229.8万元降低到183.3万元,降幅为20%。而且,吴光曙2024年也没有获得股权激励。

  资料显示,这名遭降薪的吴光曙,今年54岁,于2021年10月加入珍酒李渡并被委任为公司秘书,2022年12月24日担任执行董事,主要负责公司秘书事宜及国际业务拓展。

  值得关注的是,吴光曙将于今年5月9日召开的股东大会上辞任执行董事,将担任高级顾问。公告表示,吴光曙由于希望专注于其他个人事务,彼已决定于股东周年大会结束后退任执行董事,且不会于股东周年大会上寻求膺选连任。

  而接替吴光曙执行董事职位的,将是吴向东的儿子吴其融。资料显示,吴其融今年28岁,2018年毕业于伯明翰大学,主修计算机系统工程及工商管理。2019年10月加入珍酒李渡,先后在酒厂及销售部门担任职位,管理数字营销部,并于2025年1月起担任副总裁。吴其融还是长沙市第十六届人大代表。

  珍酒李渡的公告称,吴其融在企业管理中强调效率与创新,其所推动的数字化策略与集团‘AI+行业应用’的发展方向高度契合。自成立数字营销部并担任总经理以来,全面领导珍酒李渡的电商业务、在线线下业务的融合及数字化转型。

  但财报却显示,珍酒李渡包括电销在内的直销收入,2024年同比减少11.5%,由上年的8.03亿元下降到7.11亿元。珍酒李渡解释称,这主要是由于削减了一些低毛利的电商产品销量。

  公告称,吴其融已与公司订立服务协议,自2025年5月9日起计为期三年。根据服务协议,吴其融有权收取年薪及酌情花红合共每年人民币125万元。

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