News from the Hong Kong media indicates that Xiaomi Group has posted it first notice of annual general meeting (AGM) since after it was listed on the Hong Kong stock exchange. The notice also contains the company’s financial statement for the year. While the overall financial outlook of the company looks promising, the most interesting aspect is the revelation that the highest paid employee of the company receives a massive 9.818 billion yuan in salary annually. The group’s five highest paid individuals have a total annual salary of 10.218 billion yuan. Why this is interesting is that it is a 51-fold surge when compared to the company’s wage bill last year. 
On inquiry, a Xiaomi spokesperson is said to have confirmed that the staff that earns over a billion yuan annually is the company’s Chairman, Lei Jun. However, the exact amount which he earned wasn’t disclosed. The entire salary is mainly a batch of awarded shares. Xu Jieyun, general manager of Xiaomi Group’s public relations department, responded to the report on Lei Jun’s annual salary on Weibo stating that the reward of 2% equity granted by the board of directors before the listing was an industry practice and that the proportion was not high in the industry.
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Meanwhile, Xiaomi’s shares fell 0.68% and closed at HK$11.75 as at April 8 when the report was released. The share price has tumbled by nearly 10% since the beginning of the year. However, the Chinese tech giant posted gross revenue of 174.915 billion yuan for last year, with a profit of 13.478 billion yuan.
(source)
