Xiaomi Responds to "Lei Jun's 700 Million Unrealized Gain from CXMT IPO Subscription": Subsidiary Entity and Personal Wealth Cannot Be Conflated

TechFlow news, July 28, according to The Paper, "Lei Jun's Unrealized Gain of 700 Million from CXMT Technology IPO" appeared on Weibo hot search. It is reported that Wuhan 1810 Enterprise Management Co., Ltd. participated in the strategic placement of CXMT Technology, with an allocated share count of 18.2448 million shares. Calculated based on the issue price of 8.66 yuan/share, the company made a profit of 736 million yuan on the first day of listing. The company is a wholly-owned subsidiary of Xiaomi Technology. In response, Xu Jieyun, Special Assistant to the Chairman of Xiaomi Group and Deputy General Manager of the Strategic Marketing Department, stated: "Friends, just take it as a joke, don't take it seriously. Actually, it cannot be calculated this way; this is a corporate investment action. Specific subsidiary entities and personal wealth cannot be conflated. Additionally, wishing CXMT all the best once again."