CFO compensation in listed lighting companies: maximum RMB 2.7619 million, minimum age 37

In the core landscape of corporate governance of listed companies, the Chief Financial Officer (CFO) acts as the "helmsman" of corporate cash flow, deeply involved in formulating financial strategies, capital operations, and risk control. The quality of their decisions directly impacts the company's financial health and sustainable development.

Primarily middle-aged, with a male majority

Based on publicly disclosed data from 11 listed lighting companies,the CFO demographic shows a middle-aged profile, with an overall average age of 45.73 years. Among them,males account for 63.6%, with an average age of 45.29; females account for 36.4%, with an average age of 46.50.

The oldest female CFO is Zhou Xuemei from Gelier, aged 55; the oldest male CFOs are Zhu Liyu from Ocean King andLeedarson's Xia Chengliang, both aged 53. In contrast, Liu Jun from Minbao Optoelectronics is only 37, showcasing the vitality of the industry's talent pipeline.

The distribution of gender and age to some extent reflects the traditional management model and talent development paths in the lighting industry. Men hold a numerical advantage due to accumulated experience,while although women have a lower proportion and a higher average age,this indirectly indicates that they require a longer period of accumulation to reach core management positions. Overall, achieving a balanced gender ratio still requires further optimization of talent cultivation and promotion mechanisms within the industry.

Reconstructing the Value of Educational Credentials

The correlation between education and compensation in the lighting industry exhibits a "reversal" pattern: Master's degree holders account for 36.4%, ranking first with an average annual salary of 1.1152 million yuan; Associate degree holders account for 18.2%, ranking second with 1.0167 million yuan; Bachelor's degree holders account for 45.5%, yet rank last with 999,700 yuan.

Behind this "atypical" ranking lies the market's comprehensive assessment of diverse capabilities: CFOs with associate degrees command higher average compensation, possibly because some practitioners create excess value for enterprises through rich industry experience and outstanding business abilities; the master's degree group is favored by enterprises for its solid professional foundation and cutting-edge financial concepts that align with strategic upgrade needs; the bachelor's degree group, due to its large base, has a relatively dispersed salary distribution, which lowers the overall average.

The distribution of educational qualifications reflects the lighting industry's diversified demand for CFO professional knowledge, valuing both academic background and capability enhancement through practical磨砺. For instance, Xia Chengliang of Leedarson and Zhu Liyu of Ocean King, although holding associate degrees, have achieved compensation above the industry average thanks to their rich industry experience and long-term tenure.

Compensation Levels and Changes

In 2024, the compensation levels for CFOs of Listed company in the lighting equipment sector showed a significant growth trend. Data indicates that the average annual salary for CFOs in the industry reached 1.0448 million yuan, a Year-on-year (YoY) increase of 27.95%, far exceeding the average annual salary of 814,800 yuan for CFOs across A-shares; the median was 750,000 yuan, a Year-on-year (YoY) rise of 19.31%.

统计区间内，共有8位CFO涨薪、3位CFO降薪。其中，海洋王的朱立裕涨幅最高，由2023年的38.81万显著增长171.71%至105.45万元；其次是阳光照明的陈圣华，由2023年的35.02万元显著增长95.69%至68.53万元。格利尔的周雪梅降幅最高，较 2023年降低42.23%至29.37万元。

Changes in compensation are closely related to corporate operating performance, individual performance, and strategic adjustments.Taking Ocean King as an example, the significant increase in Zhu Liyu's compensation may be due to his remarkable achievements in corporate financial operations and capital planning, helping the company achieve performance breakthroughs; while the decrease in Zhou Xuemei's compensation at Glier may indicate that the company is facing operational difficulties or strategic transformation, leading to adjustments in the compensation structure of the finance team.

Behind the significant increase in CFO compensation in the lighting equipment industry is the fact that the industry is in a critical period of intelligent and green transformation. Compared to the average annual salary of board secretaries at 747,500 yuan (up 41.76% Year-on-year (YoY)), although the growth in CFO compensation is slightly lower, the absolute value is higher, reflecting the core position of financial executives in corporate strategic transformation.

Talent Stability and Mobility

从任职期限看，2024年照明行业CFO群体呈现"哑铃型"结构——任职10年以上、1-3年及3-5年的占比均为27.3%，而5-10年区间仅占18.2%。典型如得邦照明朱国星，自2013年1月起执掌财务总监帅印，任职时长已超12年，成为企业财务稳定性的"压舱石"。与此同时，新入职者的快速晋升通道亦被打开，反映出行业正处于管理代际交替的关键节点。

The Logic Behind High Salaries

During the statistical period, Zhang Xuejuan, CFO of OPPLE Lighting, ranked first with a salary of 2.7619 million yuan, which is 8.95% higher than Tang Qionglan of Foshan Lighting in second place. Born in 1982, Zhang Xuejuan took office in 2023 and holds 300,000 shares of the company. Her high salary and shareholding reflect OPPLE's high recognition and deep binding to her capabilities, expecting to motivate her to create greater value for the enterprise through generous treatment.

This phenomenon may indicate that leading enterprises in the lighting industry are transitioning from the traditional "cost-control-oriented" financial management model to a "value-creation-oriented" strategic finance model, with youthfulness and equity incentives becoming new trends in attracting high-end financial talent.

统计区间内，薪酬最低的是恒太照明的管园园，2024年税前报酬24.30万元，同比微增3.95%。或与企业规模较小、盈利承压等多个因素相关。这一“顶底落差”提醒我们：在行业分化加剧的背景下，资源向头部集中的趋势或将进一步推高薪酬差距。

Editor's Note

As the lighting equipment industry accelerates its transformation towards intelligence and the Internet of Things, the role of the CFO has evolved from a traditional "financial accounting manager" to a "strategic partner for corporate value creation". This requires the Financial Director not only to be proficient in accounting standards but also to possess strategic investment vision, capital operation capabilities, and full-cycle risk management skills.

Amidst the current slowdown in overall industry growth, the competition for high-end financial talent among enterprises may become increasingly fierce, potentially exacerbating salary disparities. In the future, composite CFOs with both technical/management backgrounds and financial expertise will become key drivers for lighting equipment companies to break through transformation bottlenecks.

Note: This analysis is based on 11 publicly listed lighting industry companies disclosed in Sina Finance's "2024 A-Share CFO Data Report". Due to the small sample size, it does not fully reflect reality, and the above conclusions are for industry reference only.