Earning ¥4.35 Million a Year Isn’t Enough? A-Share Founder Votes Against Himself as Chairman

A dramatic moment recently unfolded at Absen (300389.SZ), an A-share listed company: the founder and long-time chairman, Ding Yanhui, was successfully re-elected chairman—but the only opposing vote came from himself, citing “dissatisfaction with the chairman’s salary.”

The company announcement shows that Ding Yanhui was re-elected chairman of the sixth board with a vote of 8:1, with his own vote being the only objection. This unusual move quickly drew attention on social media, with comments ranging from “Poor chairman, being oppressed” to “¥4.35 million isn’t enough?”

Ding Yanhui, born in 1973, graduated from Gansu Longdong University in 1996 with a degree in Chinese Literature. He founded Absen in 2001 and has served as chairman and legal representative ever since, previously also acting as CEO for 18 years. According to the 2024 financial report, he earned a pre-tax salary of ¥4.3556 million, up nearly ¥1.5 million from ¥2.8845 million in 2023.

Absen specializes in LED display products and professional audiovisual solutions. In the first three quarters of 2024, the company achieved ¥2.872 billion in revenue, up 5.66% year-on-year, and a net profit attributable to shareholders of ¥185 million, up 57.33%.

Even with a significant pay increase, the founder’s dissatisfaction with the chairman’s role has become a hot topic both in the capital market and among netizens.