SMIC CEO Chiu signing bonus 300,000 dollars

SMIC CEO Qiu Ci Yun Sina Science and Technology August 11 afternoon news, SMIC recently disclosed documents show that the new CEO Chiu joined the company after getting 300,000 U.S. dollars signed bonuses. SMIC has officially issued a notice to appoint Chiu as CEO and executive director of the company.　　The announcement disclosed that Chiu would receive a one-time signing bonus of USD 300,000, with a basic salary of $450,000 a year, annual bonuses (equivalent to 75% per cent annual remuneration, but annual earnings) and a special annual cash allowance of $100,000.　　At the same time, Chiu will also be awarded an Equity award equivalent to 0.4% of the total number of shares issued by the company, 70% of which will be granted as a share, and 30% will be granted as a restricted unit.　　In addition, the document also disclosed the remuneration of Zhang, Chairman and executive director of the company, with a base fee of $180,000 per annum, a housing subsidy of USD 4615 and an Equity award (equivalent to 0.1% of the total number of common shares issued, of which 70% would be granted as a share option, and 30% would be granted as a restricted share SMIC announced its second quarterly report, which ended June 30, 2011, with revenue of $352.4 million, down 5.9% from a year earlier, and a loss of $3.8 million for common-equity holders, which should make up $10.2 million in the first quarter. (Loliang)