Xiaomi: It Will Buy Stocks From Time To Time At HK $12 Billion.

On September 3rd, Xiaomi group announced that in September 2nd, the board formally exercised the exercise of share repurchase authorization to buy shares in the open market from time to time at HK $12 billion. The board of directors of millet may further exercise its share repurchase authorization based on market conditions.

The board of directors of millet believes that the purchase of shares can show Millet's confidence in its business prospects and prospects, and will ultimately bring benefits to the company and create value for shareholders. Millet has sufficient financial resources to support stock repurchases while maintaining a healthy financial position.

Xiaomi group also said in the announcement that under the impetus of the Internet business mode and the "smart phone + AIoT dual engine" strategy, the Company repurchased shares and expressed its confidence in the current and long-term business prospects.

According to the announcement, in May 14th this year, the general meeting of the general assembly of the unanimous vote voted to grant general authorization to the directors, and the repurchase of shares by Lei Jun's representative was not more than 10% of the total issued shares in May 14, 2019.

Data show that in September 2nd, Xiaomi group shares fell again. At the close, the group dropped 2.11% to HK $8.35.

The media noted that in August 31st, the group announced that the company was concentrating on business development and had sufficient capital. After careful consideration, the company decided to terminate the issuance of the motherboard depository receipts. According to the SFC's updated IPO list, the group has terminated the review in August 26th.

In addition, millet group also announced in August 27th that the executive director and President Lin Bin voluntarily promised that, within 365 days from the date of this announcement, neither Lin Bin nor any entity controlled by him would sell her direct or indirect beneficial shares of millet, as appropriate, except for the 3 million 686 thousand and 600 B B shares currently held by Bin Lin and Daisy Liu Family.

According to information released by HKEx on Yi website, Lin Bin, co founder and President of millet group, sold 26 million 706 thousand and 200 shares of millet group in the two tier market in August 21st, sold 5 million 559 thousand and 600 shares in August 22nd, and sold 9 million 47 thousand and 600 shares in August 23rd. On the three day, a total of 41 million 313 thousand and 400 shares were sold.