BRIEF: Lin Bin to sell $2 billion worth of Xiaomi shares to set up investment fund

Smartphone manufacturer Xiaomi Corp. (1810.HK) said on Monday that co-founder and vice chairman Lin Bin will sell up to $500 million worth of Xiaomi shares every 12 months starting December 2026, with his total sales capped at $2 billion.

Lin will use proceeds to seed a new investment fund, Xiaomi stated, while emphasizing his continued long-term commitment to the company.

Lin, who held previous positions at Microsoft and Google, co-founded Xiaomi with Lei Jun in 2010 and served as president until 2019. He currently holds approximately 1.84 billion Class B shares, representing 8.56% of the company’s issued share capital. Based on current prices, his holdings are worth more than $10 billion.

Shares of Xiaomi opened down 1.4% at HK$38.68 on Monday. The stock is down 37% from its 52-week high.

By Lau Chi Hang

To subscribe to Bamboo Works weekly free newsletter, click here