At the latest shareholders' meeting held by Yang Ming Marine Transport Corporation, the proposal that "1% of the profits will be used as employee compensation" was passed.
In 2021, Yang Ming made a record annual profit, with annual revenue of 333.687 billion NT dollars, about 11.38 billion US dollars.
Operating gross profit was NT$213.1 billion, or about US$7.27 billion; Net profit after tax was NT$165.268 billion, or about US$5.63 billion.
That means Yang Ming's employees will receive a mid-year bonus of about NT $2 billion, or about US $68.2 million. Based on Yang Ming's 1,710 employees, each employee can earn an average of more than NT $1.1 million, or nearly US $40,000.
Benefiting from market conditions, Yang Ming continued to perform well in Q1 of this year, with net profit of $2.035bn, up 147% from a year earlier. During the same period, revenue was $3.66 billion, up 71.32% year on year.
In January, Yang Ming offered a staggering annual bonus, including a fixed bonus of one-month salary and a performance bonus of 12 times monthly salary. At that time, the board also approved wage increases, with average salaries for all employees rising by about 4% this year.
Source: Xinde Marine News Sarah Yu
The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.
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