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Xiaomi founder Lei Jun earned almost as much as the company last year but pledged to donate it to charity
- Xiaomi’s annual adjusted net profit for 2018 was 8.6 billion yuan (US$1.3 billion)
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Yingzhi Yangin Beijing
The founder of Chinese smartphone maker Xiaomi Corp received almost as much in compensation last year as the company made in profit.
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Xiaomi said in a filing to the Hong Kong stock exchange on Wednesday that Lei Jun, its chairman and chief executive, received a one-off compensation of 636.6 million B-class shares for 2018, currently valued at HK$7.5 billion (US$956 million) based on Tuesday’s closing share price.
Xiaomi’s annual adjusted net profit for 2018 was 8.6 billion yuan (US$1.3 billion), the company reported last month.
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The Class B shares are still controlled by Lei and have not been disposed of, according to the filing made to the Hong Kong stock exchange.
A Xiaomi spokeswoman said the company had no further comment.
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