In mid February, Central China Land Media Co.Ltd(000719) (000719, SZ) announced that due to reaching the legal retirement age, Guo Yuanjun applied to resign from the company’s chairman and other relevant positions, and no longer held any other positions in the company after his resignation. According to the 2020 annual report, Guo Yuanjun was 59 years old at that time. By calculation, he is now in his early 60s. The reporter of “daily economic news” noted that in the A-share market, there are not many directors who retire on time like Guo Yuanjun.
According to the data of China stock market news choice, up to now, the average age of the chairmen of more than 4000 listed companies with A shares is about 55, of which more than half are from 50 to 59, but there are nearly 1000 chairmen over 60 . “An old horse is in charge of a Carpinus and has a long-term vision”. From the perspective of performance, the performance of some listed companies under the leadership of the “post-90s” chairman is no more outstanding than that of the listed companies under the leadership of the older chairman. The performance seems to depend more on the track where the company is located. In terms of style, some listed companies run by older chairmen are relatively stable in operation. Some enterprises have always adhered to their main business after listing, and even have never implemented asset restructuring.
the older the chairman, the better the operation of the company?
According to China stock market news choice, as of February 15, there were 162 chairmen of A-share listed companies under the age of 40, 773 between the ages of 40 and 49, 2727 between the ages of 50 and 59 and 814 between the ages of 60 and 69. There are 151 people over the age of 70, of which 14 are over the age of 80 . The age of a few directors is not included in the statistics, which has little impact on the data sample.
Based on the results of the first three quarters of last year, the average net profit of listed companies under the age of 40 was 201 million yuan, and the average market value as of February 16 (the same below) was 9.653 billion yuan; The average net profit of listed companies headed by the chairman aged 40-49 is 253 million yuan and the average market value is 13.602 billion yuan.
The reporter of “daily economic news” noted that generally speaking, the older the chairman of goes, the higher the average performance and market value of the listed company he is in charge of . The average net profit of listed companies headed by the chairman aged 50-59 is 846 million yuan and the average market value is 20.724 billion yuan; The average net profit of listed companies headed by the chairman aged 60-69 is 1.864 billion yuan, and the average market value is 28.139 billion yuan.
However, the average net profit of listed companies headed by the chairman over the age of 70 is only 454 million yuan, and the average market value is 18.934 billion yuan.
Of course, the above data is only the average value and cannot represent the individual performance of the chairman himself. In all age groups, there are also enterprises with outstanding performance and market value. For example, Xiao Ning, chairman of Zangger mining (000408, SZ), born in 1990, is the son of Xiao Yongming, the actual controller of Zangger mining. Cangge mining made a profit of 825 million yuan in the first three quarters of last year, with a year-on-year increase of 1729.57%. The company’s share price also rose all the way. At present, the market value has exceeded 57 billion yuan. Tongwei Co.Ltd(600438) (600438, SH) made a profit of 5.945 billion yuan in the first three quarters of last year, with a year-on-year increase of 78.38%. At present, the market value has exceeded 170 billion yuan. Tongwei Co.Ltd(600438) chairman Xie Yi, 38, took over the post of chairman of the company in May 2019.
Party Yanbao, the actual controller and chairman of Ningxia Baofeng Energy Group Co.Ltd(600989) (SH), is 49 years old. Ningxia Baofeng Energy Group Co.Ltd(600989) the net profit in the first three quarters of last year was as high as 5.318 billion yuan, and the current market value is more than 120 billion yuan. Xinjiang Daqo New Energy Co.Ltd(688303) (688303, SH) Xu Guangfu is 80 years old. The company’s profit in the first three quarters of last year reached 4.473 billion yuan, a year-on-year increase of 799.73%; At present, the market value has exceeded 95 billion yuan. For another example, Li Xiting, chairman of Shenzhen Mindray Bio-Medical Electronics Co.Ltd(300760) (300760, SZ), will also be 71 years old this year. The company’s performance and share price have exploded in the past two years.
most young chairmen “inherit their father’s career”
At present, the youngest chairman of A-share listed companies is Wang Zhenglin, chairman of Shanghai Shunho New Materials Technology Co.Ltd(002565) (002565, SZ). He was born in February 1995 and is the son of Wang Dan, the actual controller of the company. In July 2018, Wang Zhenglin, then 23, was elected chairman of Shanghai Shunho New Materials Technology Co.Ltd(002565) . He graduated from the new school in New York and founded jawstrow Inc., DBA sneakar, which is mainly involved in the field of VR / ar. With the halo of “the youngest chairman of A-share”, Wang Zhenglin also made frequent moves after taking office. The Shanghai Shunho New Materials Technology Co.Ltd(002565) mainly engaged in cigarette package printing has successively arranged new tobacco, industrial marijuana, potassium salt and other industries. However, the actual benefits brought by these business expansion are limited. The net profits from Shanghai Shunho New Materials Technology Co.Ltd(002565) 2018 to 2020 are 101 million yuan, – 198 million yuan and 7.8308 million yuan respectively. The company expects a net profit loss of 22 million yuan to 30 million yuan in 2021. Stained with the concept of industrial marijuana, Shanghai Shunho New Materials Technology Co.Ltd(002565) was once one of the big bull stocks of a shares, but the company’s share price has dropped significantly in the past two years.
Similar to Wang Zhenglin, many young A-share chairmen belong to the “son inherits his father’s business”. Including Xiao Ning, chairman of Zangger mining, Chi ye, chairman of Zhejiang Giuseppe Garment Co.Ltd(002687) (002687, SZ), Chen Shanshan, chairman of Jinfu Technology Co.Ltd(003018) (003018, SZ), Xing meizheng, chairman of Shenzhen Jufei Optoelectronics Co.Ltd(300303) (300303, SZ), etc.
Dai sijue, chairman of Baolingbao Biology Co.Ltd(002286) (002286, SZ), was born in January 1995, slightly older than Wang Zhenglin. Daisjue was elected chairman of Baolingbao Biology Co.Ltd(002286) in March 2021, when he was only 26 years old. Similar to Wang Zhenglin, Dasjo is also a returnee. He graduated from the University of Manchester in the UK with a master of Science Degree in financial economics.
Unlike Wang Zhenglin’s successor parents, Daisy felt that he belonged to his own “entrepreneurship”. In 2017, Dai sijue borrowed money from his mother Deng Shufen, transferred part of the equity of Baolingbao Biology Co.Ltd(002286) for more than 500 million yuan, and obtained the voting power entrustment of some shares, thus becoming the owner of Baolingbao Biology Co.Ltd(002286) . In the first few years after Daisy became the owner, Baolingbao Biology Co.Ltd(002286) had relatively flat performance, and the merger and acquisition with China regenerative medicine also ran aground.
Since 2020, sugar free and low sugar drinks represented by Yuanqi forest have been selling well, making raw material manufacturers Baolingbao Biology Co.Ltd(002286) also stand at the industrial tuyere. In 2020 and the first three quarters of 2021, the company’s performance increased significantly year-on-year.
14 “octogenarian” old people fight on the front line
So far, A shares have 14 octogenarian chairmen , an increase of 4 compared with the data in July last year.
Zhang Jingzhang, chairman of Ningbo Haitian Precision Machinery Co.Ltd(601882) (601882, SH), born in January 1937, is the oldest. Zhang Jingzhang’s experience is quite legendary. He will start a small agricultural machinery factory with only 100 yuan at the beginning, and become a leader in the manufacturing of injection molding machines. From April 2002 to March 2012, Zhang Jingzhang has been the chairman of Ningbo Ningbo Haitian Precision Machinery Co.Ltd(601882) Machinery Co., Ltd. ( Ningbo Haitian Precision Machinery Co.Ltd(601882) predecessor, hereinafter referred to as Ningbo Haitian). In 2012, Ningbo Haitian was restructured and established as Ningbo Haitian Precision Machinery Co.Ltd(601882) , and Zhang Jingzhang was still the chairman of the company.
In November 2016, Ningbo Haitian Precision Machinery Co.Ltd(601882) landed on the main board of Shanghai Stock Exchange, and the wealth value of Zhang Jingzhang’s family, as the actual controller of the company, soared. On the Hurun rich list in 2016, the wealth value of the Zhang Jingzhang family was 6.8 billion yuan, which increased to 15 billion yuan in 2017. In the past two years, the concept of industrial mother machine has become hot, and the share price of Ningbo Haitian Precision Machinery Co.Ltd(601882) has soared. On the 2021 Hurun 100 rich list, the wealth value of the Zhang Jingzhang family is as high as 22 billion yuan, ranking 302.
In terms of financial indicators, the performance of Ningbo Haitian Precision Machinery Co.Ltd(601882) after listing is relatively stable.
Li Yunxiao, 85, chairman of Fujian Nanping Sun Cable Co.Ltd(002300) (002300, SZ), is also a legend. Li Yunxiao was born in September 1937 in Indonesia. His ancestral home is Fuqing City. He is a fellow townsman with Cao Dewang, chairman of Fuyao Glass Industry Group Co.Ltd(600660) (600660, SH). Li Yunxiao has been the chairman of Fujian Nanping Sun Cable Co.Ltd(002300) since November 2002, and is still fighting on the front line today.
The reporter of the daily economic news noted that both Ningbo Haitian Precision Machinery Co.Ltd(601882) and Fujian Nanping Sun Cable Co.Ltd(002300) belong to the manufacturing industry, and the company is not keen on capital operation after listing. Ningbo Haitian Precision Machinery Co.Ltd(601882) has not implemented asset restructuring since its listing; Fujian Nanping Sun Cable Co.Ltd(002300) has been listed since 2009, but the company has not implemented a major asset restructuring, and most of its investments focus on the main business of cable.
In addition to the above two companies, Pacific Shuanglin Bio-Pharmacy Co.Ltd(000403) (000403, SZ), Beijing Zhong Ke San Huan High-Tech Co.Ltd(000970) (000970, SZ), Xinjiang Daqo New Energy Co.Ltd(688303) , Hujiang materials (870204, BJ), Weihai Guangtai Airport Equipment Co.Ltd(002111) (002111, SZ), Changgao Electric Group Co.Ltd(002452) (002452, SZ), Wus Printed Circuit (Kunshan) Co.Ltd(002463) (002463, SZ), Zhejiang Ming Jewelry Co.Ltd(002574) (002574, SZ), Henan Shuanghui Investment & Development Co.Ltd(000895) (000895, SZ), Shenzhen King Explorer Science And Technology Corporation(002917) (002917, SZ) and Chison Medical Technologies Co.Ltd(688358) (688358, SZ) are also 80 years old or older. Most of them can still serve as the chairman of listed companies at an old age because they are the actual controller of the company.
It is worth mentioning that in the listed companies headed by these older chairmen, the second and even third generations have appeared frequently, and most of them hold important positions. For example, Zhang Jianming, the son of Zhang Jingzhang, has been a director of Ningbo Haitian Precision Machinery Co.Ltd(601882) for a long time; Li Wenliang, the son of Li Yunxiao, has been a director of Fujian Nanping Sun Cable Co.Ltd(002300) since 2002.
