Media365
Xiaomi shares came under pressure after the smartphone maker said its co-founder and vice-chairman plans to sell up to US$2 billion worth of shares starting from December 2026, stoking investor concerns over future supply.
The company said in a voluntary filing on Sunday night that Lin Bin intended to offload class B shares, with sales capped at US$500 million in any rolling 12-month period and the total disposal amount not to exceed US$2 billion. Xiaomi said the proceeds were mainly earmarked for setting up an investment fund, adding that Lin remained confident in the group’s long-term prospects and would continue to serve the company.
Xiaomi shares fell 1.4 per cent to HK$38.68 shortly after the market opened, before paring losses later in the session. The stock underperformed the benchmark Hang Seng Index, which added 0.4 per cent.
Lin controls about 1.88 billion class B shares and 448 million class A shares, according to Xiaomi’s interim report. The stake is valued at more than US$10 billion, based on Xiaomi’s market capitalisation as of Friday’s close.
Lin co-founded Xiaomi with Lei Jun in 2010 and served as president until 2019 when he became vice-chairman, according to Xiaomi’s website. He is also chairman of Xiaomi Foundation in Hong Kong.
Before joining Xiaomi, he worked as an engineering director at Google between 2006 and 2010, which followed various engineering and management roles at Microsoft, from 1995 to 2006, and ADP.
