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Xiaomi’s CEO will donate a billion to charity

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Xiaomi’s CEO will donate a billion to charity
April 11
13:00 2019

Lei Jun, creator and CEO of the famous electronics manufacturer Xiaomi, has received 636 million shares as a bonus for his work in 2018.

The company has already sent a document to the Hong Kong Stock Exchange, which says that Mr. Jun will donate his entire premium (after paying taxes) to the charity.

If we evaluate the cost of the package on quotes received by the Xiaomi’s founder during the bidding process on Wednesday, its value will be equal to 937 million US dollars.

Earlier it was reported that in the past year Xiaomi’s profit had amounted to 13.5 billion yuan (approximately 2 billion US dollars). Last year, the company recorded a loss of 43.9 billion yuan. Last year’s revenue has increased by half – up to 175 billion yuan.

Xiaomi was founded in 2010. It is one of the four largest global manufacturers of smartphones. In addition to phones, the company produces tablets, laptops and other consumer electronics.

The IPO on the Hong Kong Stock Exchange took place last summer.

 

The material was prepared with the participation of Katya Gordon,
a leading analyst of the brokerage company CT Trade

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