The internal letter of Weimar CEO revealed that there was a 50% to 30% discount on all staff salaries and the cancellation of bonuses such as year-end bonuses.

According to the news on November 21, according to Weima employees, on the afternoon of November 21, Weima CEO Shen Hui released an internal letter saying that in order to cope with financial pressure, he would reduce operating costs through a series of financial measures, including active salary cuts for managers at and above the M4 level, payment of 50% basic salary, cancellation of year-end bonuses and other bonuses, suspension of car purchase subsidies, and so on.

According to people familiar with the matter, HR has verbally announced a pay cut within Shanghai Weima, while Chengdu Weima employees may face other cost-cutting measures.

According to previous reports, Shen Hui, founder of Weima Automobile, was paid 1.2617 billion yuan in 2021. In the same year, Weimar paid a total of 1.75 billion yuan to key management, with Shen Hui accounting for 72 per cent of the main management salary.

Weimar then responded that it was very clear in the prospectus that of Weima Shenhui's annual salary of 1.2617 billion yuan, 2.01 million yuan was salary and bonus, and 1.2597 billion yuan was "restricted share / share option expenses". Similarly, $1.75 billion of Weimar's main management remuneration is also made up of "restricted share / share option expenses". In other words, the actual salary of Shen Hui of Weima Automobile is 2.01 million yuan, and the rest is option incentive.