Xiaomi Clarifies on Xuhui Binjiang Plot Issue

TapTechNews May 22nd news, today @XiaomiCorpSpokesperson posted that recently, some media's reports on Xiaomi no longer using the relevant plot in Xuhui Binjiang are seriously inaccurate. Special clarification is as follows: Xiaomi's business development in Shanghai is going smoothly as usual. The so-called construction stranded, loss of deposit, government confiscation, etc. are completely untrue and completely unfounded. The relevant matters of the xh128D-07 plot in Xietu Street, Xuhui District, are implemented according to procedures based on development needs.

TapTechNews noticed that today there are reports that a commercial office land in Xuhui Binjiang, a core area in Shanghai, which Xiaomi acquired at a cost of 1.55 billion yuan three years ago, has been returned and included in the 2024 land reserve plan. Some netizens are worried that Xiaomi may lose 310 million yuan in deposit or even the entire 1.55 billion yuan land price. In response, Wang Hua, general manager of the public relations department of Xiaomi Group, responded to The Paper that the municipal planning land has changed and the government has a need to acquire and store.

In October 2021, Mi Space (Shanghai) Information Technology Co., Ltd. under Xiaomi once won the above plot at a price of 1.55 billion. Xiaomi said at that time that this plot was the Shanghai headquarters land planned as early as 2018, and the functions of Xiaomi's Shanghai headquarters are numerous, including mobile phone R & D, finance, Internet and other businesses. The construction plan of this land is to combine multiple business teams together.