Xiaomi stock dips after co-founder’s share-sale plan revealed

Xiaomi shares came under pressure after the smartphone maker said its co-founder and vice-chairman plans to sell up to US$2 billion worth of shares starting from December 2026, stoking investor concerns over future supply.\nThe company said in a voluntary filing on Sunday night that Lin Bin intends to offload no more than US$500 million of class B shares in any 12-month period, with proceeds mainly earmarked for setting up an investment fund. Xiaomi said that the total disposal amount would not exceed US$2 billion, adding that Lin remained confident in the group’s long-term prospects and would continue to serve the company.\nXiaomi shares fell 1.4 per cent to HK$38.68 shortly after the market opened, before paring losses later in the session. The stock underperformed the benchmark Hang Seng Index, which added 0.4 per cent.\nLin controls about 1.88 billion class B shares and 448 million class A shares, according to Xiaomi’s interim report. The stake is valued at more than US$10 billion, based on Xiaomi’s market capitalisation as of Friday’s close.\nLin co-founded Xiaomi with Lei Jun in 2010 and served as president until 2019 when he became vice-chairman, according to Xiaomi’s website. He is also chairman of Xiaomi Foundation in Hong Kong.\nBefore joining Xiaomi, he worked as an engineering director at Google between 2006 and 2010, which followed various engineering and management roles at Microsoft, from 1995 to 2006, and ADP.\nBorn in 1968, Lin earned a bachelor’s degree in radio electronics and engineering from Sun Yat-sen University in July 1990 and a master’s degree from Drexel University in June 1992.\n