Recent annual report disclosures from Kingnet Network Co.,Ltd. have revealed an atypical compensation structure among its top executives, where the general manager's pay package was lower than that of a vice president. The focus here is on Vice President Zhao Fan.
According to the 2025 annual report data, Director and Vice President Zhao Fan received an annual salary of 1.6235 million yuan. This figure is lower than the 2.4035 million yuan for Chairman Jin Feng and the 1.8779 million yuan for Vice President Lin Bin, but it exceeds the 1.4915 million yuan compensation for General Manager Shen Jun.
Zhao Fan's compensation was approximately 1.611 million yuan in 2024, showing a slight increase in 2025. In contrast, General Manager Shen Jun's pay was 1.907 million yuan in 2024, decreasing by over 400,000 yuan year-on-year in 2025.
Beyond his salary, corporate records indicate that Zhao Fan holds 1.442 million shares in the company. Although this is significantly less than the 5.658 million shares held by General Manager Shen Jun, the benefits derived from these shares are estimated to surpass his cash compensation.
Zhao Fan was born in September 1978, making him 48 years old this year. He graduated with a bachelor's degree from Beijing Union University at the age of 22. His career path did not begin in the gaming industry. In his early years, Zhao Fan served as General Manager at Beijing Jiushi Network Media Culture Communication Co., Ltd. and Guizhou Jindekang Network Technology Co., Ltd. It was not until 2020 that he was appointed Vice President of Kingnet Network Co.,Ltd., formally entering the core management of this A-share listed gaming company.
It is understood that Zhao Fan is primarily responsible for the company's external cooperation affairs.
It is worth noting that Kingnet Network Co.,Ltd. achieved growth in both revenue and profit in 2025. The company reported operating revenue of 5.325 billion yuan, a year-on-year increase of 4.04%, and a net profit attributable to the parent company of 1.904 billion yuan, up 16.90% year-on-year, both setting new historical records.
Analysis suggests that while the executive compensation at Kingnet Network Co.,Ltd. is not considered excessive among A-share gaming firms, its structure is notably distinctive. Although the phenomenon of a general manager's pay being lower than a vice president's is rare in the industry, it appears to be more of a strategic arrangement based on individual circumstances rather than indicative of a disorganized compensation system. Overall, the executive remuneration at the company aligns reasonably well with its performance growth and shareholder interests.
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