06-04-2022, 08:57 AM
Published: 3:10pm, 5 Apr, 2022
Huawei Technologies paid out dividends totalling 61.4 billion yuan (US$9.65 billion) to current and retired workers in its employee shareholder scheme
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Some 131,507 current and former workers are involved in the shareholder scheme, according to the company’s 2021 annual report released last week. The company is private and wholly owned by its employees
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Huawei is 100-per cent owned by employees, including its founder Ren Zhengfei. The staff shareholding structure, most famously practised by the UK department store chain the John Lewis Partnership, turns eligible employees into stakeholders.
Huawei is owned by a holding company called Huawei Investment & Holding, with two shareholders: Ren with 0.94 per cent, and an entity called the Union of Huawei Investment & Holding, which holds the remaining 99.06 per cent on behalf of eligible employees.
Huawei enacted its Employee Stock Ownership Plan (ESOP) in 1987 at its establishment, and implemented it in 2003 two years after Shenzhen’s local authorities laid the rules for it. Managers recommend the shares entitled by their team members as part of their pay, based on performance.
The shares are not granted freely, but must be bought for a price calculated from Huawei’s asset value per share from the preceding year. The shares cannot be traded among staff, but can be sold back to the union
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Retired employees also own stakes, but those who leave Huawei’s employment must sell their shares back if they’ve worked at the company for less than eight years.
Full report at: https://www.scmp.com/business/article/31...ired-staff
Huawei Technologies paid out dividends totalling 61.4 billion yuan (US$9.65 billion) to current and retired workers in its employee shareholder scheme
......
Some 131,507 current and former workers are involved in the shareholder scheme, according to the company’s 2021 annual report released last week. The company is private and wholly owned by its employees
......
Huawei is 100-per cent owned by employees, including its founder Ren Zhengfei. The staff shareholding structure, most famously practised by the UK department store chain the John Lewis Partnership, turns eligible employees into stakeholders.
Huawei is owned by a holding company called Huawei Investment & Holding, with two shareholders: Ren with 0.94 per cent, and an entity called the Union of Huawei Investment & Holding, which holds the remaining 99.06 per cent on behalf of eligible employees.
Huawei enacted its Employee Stock Ownership Plan (ESOP) in 1987 at its establishment, and implemented it in 2003 two years after Shenzhen’s local authorities laid the rules for it. Managers recommend the shares entitled by their team members as part of their pay, based on performance.
The shares are not granted freely, but must be bought for a price calculated from Huawei’s asset value per share from the preceding year. The shares cannot be traded among staff, but can be sold back to the union
......
Retired employees also own stakes, but those who leave Huawei’s employment must sell their shares back if they’ve worked at the company for less than eight years.
Full report at: https://www.scmp.com/business/article/31...ired-staff
