Lifting equipment company in China gives out S$11 million in bonuses via cash-counting contest during annual meeting
A lifting equipment manufacturer and supplier in China added a gamified twist to its bonus distribution method during its annual meeting on Friday (25 Jan).
According to Time News, a representative of Henan Mine Crane Co. Ltd. stated initially that more than 100 million yuan (S$18.6 million) in year-end bonuses would be distributed to employees.
Of this, nearly 40 million yuan (S$7.4 million) will be given out at the event through a massive money-counting contest.
Videos on Douyin showed rows of tables, 60m to 70m long, covered in cold hard cash, with participants given a limited time to count as much as they could.
Source: Douyin
Participants given 15 minutes to count as much money as they can
The rules were simple: each team, made up of 30 employees, selected two participants to compete in the contest.
They were given 15 minutes to count as much money as possible, with the total amount counted shared equally among all team members.
Source: Douyin
Any errors in counting resulted in a 1,000 yuan (S$186) deduction from the total, while participants received an additional 100 yuan (S$19) as a reward for joining the contest.
During the event, Henan Mine chairman Cui Peijun (transliterated in Mandarin) announced an addition of 20 million yuan (S$3.7 million) to the prize pool, bumping it up to 60 million yuan (S$11.1 million).
At the end of the competition, one employee successfully counted an impressive 100,000 yuan (S$18,600).
For employees who had already returned to their hometowns for Chinese New Year and couldn’t participate in the contest, their year-end bonuses were distributed in advance to ensure everyone received their share.
Employees in the sales department reportedly received the highest bonuses, with some individuals earning as much as 5 million yuan (S$930,000).
Company made S$48.2 million in profits last year
Mr Cui explained that the cash-counting competition was designed to add some fun and interaction to the annual meeting.
Jiemian News reported that Henan Mine has been holding such contests for the past five years, earning it the nickname “the company that loves giving money to employees” from netizens.
Source: Douyin
During the annual meeting, company president Wei Xueming (transliterated) shared that Henan Mine achieved a profit of 260 million yuan (S$48.3 million) in 2024, which helped fund the generous bonuses.
The company primarily focuses on the research, production, and sale of cranes and other essential machinery.
Founded in 2002, it serves a wide range of industries, including aerospace, shipbuilding, steel manufacturing, and petrochemicals.
Mr Cui has consistently promoted a culture of generosity within the company — a company spokesperson once told Jiemian News that Henan Mine’s business philosophy is “earn one yuan, give back 80 cents”.
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Featured image adapted from Douyin and Douyin.
