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KEY STAT | Kuaishou announces employee dividend as share price rockets

Written by Julianna Wu Published on 

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Several tech firms will have generous bonuses for its employees.

Newly-listed short video app Kuaishou (HKEX: 1024) said it prepared a “sunshine award” of 100 shares for each of its regular employees, 36Kr reported. The award is valued at around USD 4,447 based on its current price.

Kuaishou had 19,941 full-time employees at the end of September 2020, according to its prospectus.

A couple of Chinese tech firms recently announced employee bonuses despite the economic setback last year. Tencent pays employees “who made special contributions” 100 shares as bonus, about USD 9,500, according to 36Kr.

Huawei will dish out a stock-based special dividend to its employees that could be as high as RMB 1.85 (USD 0.29) per share, more than expected, but lower than the RMB 2.11 (USD 0.33) from 2019.

Shanghai-based game developer Lilith will hand out RMB 190 million (USD 29 million) to its 90 people behind the popular game AFK Arena, Sina News reported.

According to a survey conducted by Tencent Wealth Management and the China Academy of Social Sciences, more than half of the respondents expected to earn a lower bonus compared to the year before, with 72.8% saying their bonus won’t exceed RMB 10,000 (USD 1,544).

This article is part of KrASIA’s “Key Stat” series, where KrASIA picks and presents the most significant figures of the day’s technology and business world.

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