Chinese Crane Company Hosts Lavish $26 Million Cash Party for Employees
A Chinese manufacturing firm has made headlines by distributing an astonishing $26 million in cash during its annual year-end celebration, allowing employees to physically carry home as much money as they could manage. The event, held by Henan Kuangshan Crane Co. Ltd. on February 13, featured the vast sum displayed across 800 banquet tables under vibrant, coloured lighting, creating a spectacle of wealth and generosity.
Employees Revel in Unconventional Bonus Distribution
Approximately 7,000 attendees, dressed in suits, were seen eagerly eyeing the piles of banknotes, with one employee reportedly leaving with $13,000 in cash, according to reports from the Korean newspaper Chosun Daily. The company's founder and majority shareholder, Cui Peijun, who holds 98.88% of shares, orchestrated this unique bonus method, effectively returning a significant portion of his dividends to the workforce.
Boss Defends Cash-Over-Transfers Philosophy
During the gala, Cui Peijun addressed the unconventional approach, stating, 'Some people ask why we don’t just transfer the money to their accounts, but that way, it’s just cold numbers.' He contrasted this with previous years' gifts, such as washing machines, necklaces, and rings, emphasising the tangible impact of cash. 'In previous years, we gave necklaces and rings, bring up the cash and give everyone another 20,000 yuan (US$2,800),' he added, highlighting the firm's shift towards more direct financial rewards.
History of Generosity and Employee Support
Henan Kuangshan Crane Co. Ltd., established in 2002 and operating in over 130 countries with crane manufacturing and rental services, has a longstanding reputation for employee generosity. In 2024 alone, the company recorded a net profit of $38 million, of which approximately $24 million was allocated to staff bonuses. Additionally, to mark International Women's Day in March, nearly $230,000 in bonuses were distributed to about 2,000 female employees.
Motivation Behind the Lavish Rewards
Cui Peijun has publicly explained his rationale for such substantial giveaways, noting, 'It is not that I love giving out money, it is that young people are burdened with car loans and mortgages and any relief we can offer helps.' This philosophy underscores the company's commitment to alleviating financial pressures on its workforce, fostering loyalty and morale through direct, hands-on bonus distributions that transcend traditional banking methods.
