‘The boss who likes to hand out money’: This Chinese company’s year-end bonus was a cash sum of Rs 236 crore

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The company distributed 180 million yuan (about Rs 236 crore) in year-end bonuses, accounting for about 70% of its total annual profit of 270 million yuan (about Rs 357 crore).

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Videos circulating online show workers frantically sorting through massive piles of currency spread on long tables, with some struggling to carry the heavy bundles of bills they have been given. (Image for representation: IMAGEN 4 engine)

Videos circulating online show workers frantically sorting through massive piles of currency spread on long tables, with some struggling to carry the heavy bundles of bills they have been given. (Image for representation: IMAGEN 4 engine)

A modest festive basket or restaurant voucher won’t do much good for this Chinese company, which has taken its year-end bonus for employees to another level.

In this work that has received international attention for its unusualness and generosity, a Chinese company founder turns his recent financial success into a high-stakes scramble for riches. Cui Peijun, founder of Henan Kuangshan Crane Co., has invited his employees to participate in a US$26 million (Rs 236 crore) cash drive.

According to a report I published South China Morning PostThe event, which went viral and sparked much envy among netizens, saw more than US$26 million in cash distributed.

Bonuses represent 70% of the company’s annual profits

The event, held to celebrate the company’s success, included 800 banquet tables to accommodate nearly 7,000 employees.

The company distributed 180 million yuan (about Rs 236 crore) in year-end bonuses, a staggering amount that represents about 70% of its total annual profit of 270 million yuan (about Rs 357 crore).

the SCMP She said the highlight were interactive challenges where employees were invited onto the stage to participate in a timed money counting exercise. Under the rules of the game, they were allowed to keep every note they could manually count within a specified time frame.

Videos circulating online show workers frantically sorting through massive piles of currency spread on long tables, with some struggling to carry the heavy bundles of bills they have been given.

Watch the video here:

During the event, Cui showed his spontaneous generosity by asking the financial department to increase bonuses, the report said.

“Why do we distribute washing machines?” The report quoted him before ordering that material gifts be replaced with more currency. “Bring the cash and give everyone another 20,000 yuan (Rs 2.54 lakh).”

“Young people are burdened with loans”

The Internet called him “the president who likes to hand out money the most,” but he said his motivations are rooted in a practical understanding of the modern cost of living.

“It’s not that I like to donate money, it’s that young people are burdened with car loans and mortgages and any help we can give helps,” he was quoted as saying.

His quirky but generous style of corporate leadership has generated widespread admiration across social media platforms. One netizen said that such treatment of employees is “more effective than advertisements,” adding that employees “will work harder, while ensuring quality.”

The report also said that Henan Kuangshan Crane Co., Ltd. Founded in September 2002, it has grown into a major manufacturer of material handling products with operations in over 130 countries. Cui, who owns nearly 99 percent of the company’s shares, has established a consistent pattern of such gestures.

The company said that last year, it distributed 170 million yuan (Rs 225 crore) to employees, and also provided nearly 1.6 million yuan (Rs 2.1 crore) in bonuses to 2,000 female employees on the occasion of International Women’s Day.

Viral news ‘The boss who likes to hand out money’: This Chinese company’s year-end bonus was a cash sum of Rs 236 crore
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