Lei Jun’s unrealized profit of 700 million yuan from Changxin Technology’s IPO subscription sparks widespread discussion; Xiaomi responds: The company’s investments cannot be conflated with personal wealth.

Changxin Technology surged 465.82% on its first day of trading, drawing widespread market attention. Among related topics, "Lei Jun’s new share subscription in Changxin Technology generated 700 million yuan in floating profit" topped Weibo’s trending searches. According to Changxin Technology’s previously disclosed strategic placement list, Wuhan Yiba Yiling Enterprise Management Co., Ltd. was allocated 18.2448 million shares of Changxin Technology. At the issue price of 8.66 yuan per share, the company’s allocated capital amounted to approximately 158 million yuan; based on Changxin Technology’s closing price on its first trading day, the floating profit stood at around 736 million yuan. Public information shows that Wuhan Yiba Yiling Enterprise Management Co., Ltd. is a wholly-owned subsidiary of Xiaomi Technology, whose chairman is Lei Jun, leading the market to link the investment to Lei Jun. In response, Xu Jieyun, special assistant to Xiaomi Group’s chairman and deputy general manager of the Strategic Marketing Department, stated on July 28: "Friends, just take this as a fun anecdote, don’t take it seriously. Actually, it can’t be calculated that way. This is a corporate investment activity, and the specific subsidiary entity and personal wealth cannot be conflated. Also, I’d like to extend my best wishes to Changxin again."