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Chinese Medical Startup Shuidi Cuts Execs' Pay by 20%
Zhang Yushuo
DATE:  Feb 24 2020
/ SOURCE:  yicai
Chinese Medical Startup Shuidi Cuts Execs' Pay by 20% Chinese Medical Startup Shuidi Cuts Execs' Pay by 20%

(Yicai Global) Feb. 24 -- The top management of Shuidi Mutual Insurance Technology, a Chinese medical crowdfunding startup, will have their salaries slashed by 20 percent amid tight funding conditions, the Beijing-based firm's chief executive said in an internal letter today.

"The capital market will cool down," wrote Shen Peng. "We either strive to achieve profitability, raise money in the volatile and difficult market, or go bankrupt."

Editor: Emmi Laine 

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Keywords:   Startup,Shuidichou