“二号人物”拟减持不超20亿美元股份，小米股价低开跌破万亿市值

Core Viewpoint - Xiaomi Group's stock price has been under pressure, dropping over 3% on December 29, 2023, and closing at 38.38 HKD per share, leading to a market capitalization below 1 trillion HKD, contrasting with the overall positive performance of the Hong Kong stock market [1][6]. Company Announcement - On December 28, Xiaomi Group announced that co-founder and vice chairman Lin Bin plans to sell up to 5 billion USD of Class B shares annually starting December 2026, with a total sale cap of 20 billion USD (approximately 140 billion RMB) [1][2]. Purpose of Share Sale - The proceeds from the share sale are intended to establish an investment fund company. Lin Bin expressed confidence in Xiaomi's business prospects and his commitment to the company [2][7]. Lin Bin's Shareholding - Lin Bin holds approximately 1.835 billion Class B shares, representing about 8.56% of the company's issued share capital, valued at over 10 billion USD based on the latest market value. He has previously liquidated over 8.5 billion HKD in shares [2][7]. Historical Share Sales - Lin Bin has a history of share sales, including a significant sale in September 2020 where he sold 350 million shares for approximately 79.97 billion HKD, and a recent sale in June 2024 where he sold 10 million shares for about 1.79 billion HKD, raising questions about his commitment to previous promises not to sell shares [2][8]. Company Performance - Despite the stock price decline, Xiaomi's financial performance has been strong, with Q3 2025 revenue reaching 113.1 billion RMB, a year-on-year increase of 22.3%, and an adjusted net profit of 11.3 billion RMB, up 80.9% [3][8]. Business Segments - The smart electric vehicle and AI sectors are emerging as growth drivers, contributing 29 billion RMB in revenue in Q3, with electric vehicle sales accounting for 28.3 billion RMB. This segment achieved positive operating income for the first time, totaling 700 million RMB in Q3 [4][9].