Reported 8 months ago
According to the Hong Kong Stock Exchange disclosure data on June 23, 2024, it was revealed that Xiaomi Group's Vice Chairman, Lin Bin, sold 10 million B-class shares of Xiaomi over three days from June 4 to 6, cashing out approximately 179 million Hong Kong dollars, reducing his equity from 9.94% to 9.17%. This move has sparked criticism from some investors online as Lin Bin had voluntarily committed in September 2020 not to reduce his holdings for five years. Lin Bin clarified on Weibo that the shares were sold for charitable purposes and had donated a significant number of shares to his family foundation established in 2019, emphasizing that the commitment to not reduce his holdings did not cover the foundation's shares.
Source: YAHOO