The strange shape of Hunan mail technology shareholder meeting: 9 Directors 7 absent

One investor said: "Many directors do not attend the shareholders ' meeting, which makes people believe that the interests of shareholders above all" Xiang-mail Technology (600476) last year, the loss of 55.72 million Yuan, the company listed for the first time in 5 years of loss. May 15, Xiang-mail technology in the company's headquarters held the 2008 annual general meeting of shareholders.　　Investors and financial media are paying close attention to the shareholders ' meeting because of the plan to turn a profit. "Securities daily" reporter found at the scene, the company 9 directors, only 2 independent directors to attend the conference. The chairman of the company, Mr. Shao, presided over the meeting and read out the report of the Board.　　In the course of the meeting, the reasons why the 7 directors were absent from the shareholders ' meeting were not stated. The Chairman's inexplicable absence from the shareholders ' meeting even more surprising is that the Hunan Post technology chairman unexpectedly did not attend the shareholder meeting.　　One investor said: "Many directors do not attend the shareholders ' meeting, which makes people believe that shareholders ' interests are above all else".　　Dong Wang Fei to the "Securities daily" reporter explained that, because there was no institutional investors in advance to attend, so the chairman Li Xiong did not come. Our correspondent asked: the Board of directors held 5 meetings last year, 4 of which were held by means of a communication vote.　　The company's performance fell sharply last year, so why didn't the directors meet face-to-face to discuss the strategy?　　Wang Fei: The motions of these 4 meetings are very simple, and the directors often get together in Changsha to discuss the company, so there is no meeting.　　Check the company's annual report and learn that chairman of the company from Hunan Province, the general manager of the postal company, Hunan Province, a deputy general manager of the company as a director, Hebei, Beijing, Sichuan and other provincial (city) postal company leader also as a company director, while the third largest shareholder of Gan-Yue high-speed a director has entered the company's board. This reporter learned that Xiang-mail technology 6 directors are sent by the shareholder unit, 3 independent directors are recommended by the shareholder unit, the company does not have internal directors. An expert on corporate governance at the Central University of Finance and Economics said the separation of board and executive level is beneficial to the corporate governance structure.　　But it is also easy to lack of communication between the Board and the operating team, information is not unblocked, especially the directors of the company several times a rare visit, this is bound to affect the Board's decision-making.　　The birth of Hunan listed company annual salary of the lowest president Xiang-mail technology president Shao last year's annual salary is 95,900 yuan, known as "Hunan listed company annual salary lowest president", other senior executives are less than 90,000 yuan annual income. Shao revealed that the postal system has not been restructured, and that our senior executives are paying wages in accordance with the postal system's wage standards.　　When I came to the company, Hunan Post Office of the leadership of my start, which mentioned not to engage in annual salary system. A senior executive said: "Our executives are employees of the postal system, people inside, no outside people, so the leadership is very reassuring to us." "This reporter asked:" is not to ask professional managers?　　He answered yes. Shao in the shareholder meeting, based on the postal service to do business. The third largest shareholder of the company is listedThe company's Jiangxi and Guangdong high-speed shareholder representatives of the company related to the excessive transaction expressed concern. Shao responded that the bulk purchase of the postal companies is a bidding system, which is carried out in accordance with the three principles. At the same time, he admits, "all tenders for the postal system invite us to participate, and we are given priority under the same conditions." "Is such a low annual salary enough to motivate executives to do a good job?"　　If the annual salary is too low to attract the company's executives to do their best to manage and run the company, the performance of the executives at the general meeting is enough to show that they are striving to achieve a profit of 4 million this year, says a human resources research expert. This newspaper has published that Xiang-mail technology fund-raising projects "little revenue", the company's president Shao frankly true, "the key is that the amount did not go up." "Sales are not going up, and the costs are high. Wang Fei said that the company's 50 acres of science and Technology Park represents the company's image, but the annual property management fee will be 4 million yuan.　　And 80 million yuan of fixed assets, annual depreciation to---7 million yuan. Wang Fei said that the company last year gross profit margin of only 5.7%, this year will certainly raise 2, 3 points. The cost of company management will be reduced by 16 million yuan on the basis of last year. Last year's assets were $9.36 million trillion, which should not be spent this year.　　Last year, the actual expenditure on financial expenses was $25 million, and the planned reduction of $10 million this year should actually fall by more than 12 million yuan.　　If these goals are achieved, the company's costs are expected to be less than last year 3800--4000 million, coupled with business development, there should be no problem. Shao told reporters that I had junlingzhuang to the board.　　2009 completed income of 340 million yuan, to achieve a profit of 4 million yuan. So, is Xiang-mail technology able to complete the goal of President Shao? We need to wait and see.