Xiaomi's co-founder, VP, exec-director to offload US$2 billion shares

Xiaomi (1810) said its vice chairman and executive director Lin Bin plans to offload up to US$2 billion (HK$15.6 billion) worth of shares in the smartphone maker from December 2026. 

Lin, also the co-founder of the electric vehicle maker, intends to dispose of the class B shares at a pace of up to US$500 million per year, primarily to establish an investment fund company, according to a filing on Sunday. 

Lin has expressed his full confidence in the business prospects of the group and will continue to serve the group on a long-term basis, the filing said. 

The disposal is subject to compliance with applicable laws and regulations, it added.