September 3, according toHKExDisclosure documents show that on August 31stXIAOMI GroupFounder Lei Jun sold more than 300m shares of XIAOMI, and his stake in XIAOMI Group fell from 2.171 billion to 1.862 billion, or from 10.63 per cent to 9.12 per cent.
XIAOMI's share price closed at HK $25 on August 31. If calculated on this basis, the 300 million shares of XIAOMI are worth about HK $7.5 billion. Because of the huge amount, Lei Jun's selling operation instantly caught the attention of the market.
The reporter confirmed from XIAOMI that the sale was not an active reduction of holdings, but that Lei Jun no longer controlled the Lei Jun Foundation, resulting in changes in shareholding interests.
According to XIAOMI's reply to reporters, "the reason for the sale is that Lei Jun no longer controls the Lei Jun Foundation, which reduces its statistical share, not its holdings. This foundation is a charity of a public nature. Lei Jun terminated his control over the foundation in accordance with local regulations in Hong Kong."
The Lei Jun Foundation, which is well known to the market, is in July this year. At that time, XIAOMI Group announced that Chairman and CEO Lei Jun recently donated 308 million Class B shares of the company to XIAOMI Foundation and Lei Jun Foundation for public welfare purposes, totaling about 616 million shares.
One of the backgrounds at that time was that Lei Jun had just announced that the global sales of Q2 XIAOMI exceeded in 2021.AppleTo become the second largest in the world, second only to the overlord Samsung. This is the first time that XIAOMI has become the second largest smartphone manufacturer in the world. Therefore, this "generous donation" caused a lot of market repercussions at that time.
According to logic, Lei Jun's donation to the Lei Jun Foundation is not cash, but stocks. Foundations that acquire shares can enjoy the dividends brought by these shares, and then use the dividends for public welfare projects, or they can directly trade stocks such as buying and selling. At the same time, although Lei Jun donated to the "Lei Jun Foundation", it does not mean that "the left hand is turned to the right hand". Because the foundation is subject to Hong Kong's tax law, it can only be used for charitable purposes.
It is worth noting that what Lei Jun donated is "Class B shares". As an enterprise with the same shares and different rights listed on the Hong Kong Stock Exchange, XIAOMI has two categories: "Class A stocks" and "Class B stocks". Class B stocks often mean one share and one vote.
In fact, as the soul of XIAOMI, Lei Jun's changes in XIAOMI's shareholding will affect the market nerves every time.
The last time Lei Jun's equity change was noticed by the market was in the first quarter of 2019. At that time, the information disclosed by a number of stock websites showed that the number of shares held by XIAOMI founder Lei Jun had changed, which was believed to be due to the reduction of XIAOMI's stock holdings by Lei Jun himself. In response, the Public Relations Department of XIAOMI Group clarified at that time that Mr. Lei Jun had not reduced his shares and the number of shares had not changed. what had changed was only the number of voting rights of his Class B shares, because he no longer represented the voting rights of some minority shareholders.
In addition, in January 2019, XIAOMI Group also announced on the Hong Kong Stock Exchange that out of confidence in the long-term value of the company, XIAOMI Group founder, Chairman and CEO Lei Jun and other controlling shareholders promised to lock up all their shares for 365 days, while XIAOMI Group Senior Vice President and CFO Zhou Capital also made the same commitment. At that time, XIAOMI's six-month lock-up period ended, and the company's share price was still in a negative state. According to the reporter's carding, there was no record of similar commitments made by major shareholders who had reached the lifting period except XIAOMI among the listed companies in Hong Kong at that time.