Yesterday, Xiaomi Group issued an announcement stating that the company’s board of directors granted a total of 70.232 million shares to 3,904 employees of the group in accordance with the share award plan.
Who Did Get Xiaomi Group Shares?
According to Xiaomi, the group’s outstanding young engineers, fresh graduates and outstanding employees in the core positions of the team, and outstanding engineers of the annual technology award have all received corresponding equity incentives.
By the way, yesterday, the closing price of Xiaomi’s stock was 26.2 Hong Kong dollars ($3.37). Based on this calculation, Xiaomi has given a total of 1.84 billion Hong Kong dollars of stock rewards to employees. That is approximately $0.24 billion. This equals to an average of 470,000 Hong Kong dollars (approximately $60,523) per capita.
Xiaomi specifically mentioned that among the above employees, about 700 outstanding young engineers have been selected for Xiaomi’s latest talent incentive program “Young Engineer Incentive Program.” They will receive a total of 16.042 million shares. After a simple calculation, the value of the shares issued per capita of these 700 young engineers is 600,000 Hong Kong dollars (about $77,263).
Gizchina News of the week
The young engineer incentive plan is personally led by Lei Jun, the founder, chairman and CEO of Xiaomi Group. The latter selected a total of nearly 700 outstanding young engineers into the first batch of lists. They are mainly R&D engineers, testers, product managers, designers, etc. The spheres they are from cover chip research and development, machine learning and algorithms, software and hardware development, cloud computing, system architecture, image processing, and materials. There are many front-line positions in technology, operating system, video training, interactive design, etc. The youngest selected employee is only 24 years old.
Xiaomi stated that this incentive plan will be extended to the entire group in the future. Also, it will continue to be a long-term talent incentive project for all young engineers throughout the company.
This Is Not New
The Paper reporter noted that Xiaomi has granted share awards according to the share award plan many times since its listing, five times in 2020 alone. The most recent case occurred on October 10, 2020. At that time, 579 people got a total of 10,672,400 shares. At that time, Xiaomi’s share price was 20.95 Hong Kong dollars ($2.7). And the overall value of the shares granted was 220 million Hong Kong dollars ($28.33 million).
Share awards are one of the common ways to motivate employees in listed companies. Not long ago, Gree Electric, an old friend of Xiaomi, released a draft of its employee stock ownership plan. It involved 12,000 employees.
I have worked 2years for Xiaomi in India Mi service center and From morning to evening continue with out going taking break,they pressure the Service center employees and force them to over worked even they won't given Lunch time if.customers is more in service center forgot about going wash room or eating, because they always pressure to close calls but I had asked Xiaomi Auditor to tell company to make offical time for half an hour or 1 hour for break , auditor replied You eat or not you go to wash room or not we don't care we only need case closed he talked employees as there Servents and I complaind them to upper Employees all are like same very rude and third class language to there service center employees no one cares there and mainly they are not giving salaries Center owners gives only 5k or 7k for months they give no single rupee given to service centers
Fake Company who never respect there Employees who maintain there brand after sales