Xiaomi Subsidiary Nets RMB 736M from Long Xin Technology IPO Placement

According to Pulseews, Xiaomi's wholly-owned subsidiary Wuhan 181010 Enterprise Management participated in Long Xin Technology's strategic placement offering, securing 18.2448 million shares at RMB 8.66 per share and generating RMB 736 million in first-day gains. In response to speculation linking the gains to Chairman Lei Jun's personal wealth, Xiaomi's Deputy General Manager of Strategic Markets Xu Jieyun clarified that the investment is a corporate action and cannot be conflated with individual finances.
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