Xiaomi's Lin Bin's Holdings Reduction and Donation

TapTechNews June 20th, according to Red Star News, Lin Bin, the co-founder, vice chairman and executive director of the Xiaomi Group, has drawn investors' attention for his consecutive reductions in holdings during three trading days in June.

According to the information disclosed by the DisclosureEasy, Lin Bin has reduced his holdings by a total of 10 million shares,套现 about HK$179 million (TapTechNews note: currently about RMB 167 million). After the reduction, some investors accused Lin Bin on platforms such as Snowball of breaking his promise and being untrustworthy.

The relevant person in charge of the Xiaomi Group stated today that (the reduction and cashing out) is for public welfare, Specific details can be seen in their donation to Sun Yat-sen University. However, there is a difference between the amount of Lin Bin's reduction and cashing out and the donation amount. In response to this, the relevant person in charge of the Xiaomi Group said, it is the difference between the Hong Kong dollar and the Renminbi.

According to TapTechNews' previous report, on the afternoon of April 17th, the donation signing ceremony of Lin Bin and his wife Liu Xiangdong to Sun Yat-sen University was held at Sun Yat-sen University. Lin Bin and his wife Liu Xiangdong donated RMB 100 million in cash to their alma mater. According to public information, Sun Yat-sen University will celebrate its 100th anniversary on November 12th this year. Lin Bin said at that time that when he returned to the campus on the eve of the centenary celebration of Sun Yat-sen University, it was like traveling back to his youthful years; 38 years ago (in 1986), this was the starting point of his pursuit of dreams.