Mr. Liang Wengen Re-honored Best Boss of Listed Companies in China Ranking 3rd from Last Year' 22nd

Recently, Forbes Magazine launched the 2008 list of Best and Worst Bosses of Listed Private Companies in China.

Mr. Liang Wengen and Xiang Wenbo (Board Chairman and President of SANY Heavy Industry respectively), Chen Jian and Xu Danhong (Board Chairman and General Manager of Xinhu Venture Investment Co., Ltd.) as well as Dai Lianrong and He Zhanhai (Board Chairman and General Manager of Yuanxing Energy Co., Ltd.) took the first three places for "Best Bosses".

According to the result of the Sixth Session of Top Employers of Chinese University Students, a survey recently sponsored by Chinahr.com, SANY Group has become the first Hunan-based enterprise winning such a title. Among its previous honors, SANY Group was once granted the "Best Employer Award" by Association of International Accountants, and this time, Forbes again honored Liang Wengen and Xiang Wenbo from SANY the title. It was also the second time for Mr. Liang Wengen, Board Chairman of SANY Heavy Industry, to be selected as one of the Best Bosses of Listed Companies in China. In the whole machinery industry and of all the Hunan-based enterprises, SANY is the only one to get listed.

The survey result showed that, in the past three years, the senior executives in the 25 enterprises selected as Best Bosses have brought an average RONA (Return of Net Asset) of 18.2% for their shareholders, a contrast to that of 9.3% of the whole industry. The CEOs/Presidents/General Managers of such companies earned an average annual salary of RMB 370,000 during the past three years. The 10 enterprises with the"Worst Bosses" registered an average RONA of -54.5%, but their senior executives still earned an average annual salary of RMB 325,000 in 2007.

In addition, Forbes also selected "the Top 30 Most Expensive Bosses" of this year. The average age of these senior executives was 51, and they averagely earned an annual salary of RMB 4.92 million in 2007, with an increase rate of 195% year on year. Though Ma Mingzhe was once again listed as one of the Most Expensive Bosses with an annual salary of RMB 66.16 million, he would be completely dwarfed by Liang Wengen and Xiang Wenbo, both have earned billions of assets. Xiang Wenbo joined SANY in 1991 and later obtained 8% of the shares of SANY Group for his great contribution to the enterprise. When estimated at the latest market price, Xiang would be worth over RMB 1.1 billion, making him "No. 1 Employee in China". In 2007, Xiang Wenbo with another 4 founders of SANY was included in Forbes China List.

When summarizing this year's survey, Liu Ruiming, the developer of the Forbes China List, said, "A good boss would go deeper in his business and try to make it stronger. He is always alert for proper opportunities to expand his business, while being ready to undertake social responsibilities and being careful to present an excellent public image". Liu referred to SANY Heavy Industry as an example more than once, and named Liang Wengen and Xiang Wenbo as the Best Partners of SANY.

Xiang Wenbo said, be it "Best Boss" or "Best Employer", SANY deems it critical to help the employees succeed along with the company, and to enable them to lead a well-off life. The rapidly growing SANY has now evolved into a wealth-making factory, with hundreds of its employees in possession of private assets worth over RMB one million or even ten million, and all its members of the Board of Directors worth over RMB 100 million.