Kingsoft Gifts Each Worker USD3,364 in Shares to Mark Lei Jun's 10-Year Leadership
Dou Shicong
DATE:  Jul 05 2021
/ SOURCE:  Yicai
Kingsoft Gifts Each Worker USD3,364 in Shares to Mark Lei Jun's 10-Year Leadership Kingsoft Gifts Each Worker USD3,364 in Shares to Mark Lei Jun's 10-Year Leadership

(Yicai Global) July 5 -- Chinese software developer Kingsoft will give each staff member HKD26,130 (USD3,364) worth of the company's shares to celebrate Xiaomi founder Lei Jun's 10th anniversary as Kingsoft's chairman.

The tech firm will grant 600 shares to more than 8,000 personnel, resulting in no more than 4.8 million units, the Beijing-based office and cloud software company said in a statement today.

The shares were worth over HKD200 million (USD25.8 million) based on the company's stock price [HKG:3888] of HKD43.55 (USD5.60) at noon. Later, the shares were 2.3 percent down.

Kingsoft has grown under Lei's watch. The firm's annual revenue rose to CNY12 billion (USD1.9 billion) last year from less than CNY1 billion (USD154.8 million) in 2010, the chairman said in a letter posted on Weibo.

Before Xiaomi, Lei was serving Kingsoft as its president, leading the company's listing procedures. Kingsoft went public in 2007. After Lei was appointed as chairman in 2011, Kingsoft has accelerated its push into the mobile internet sector. Two of its related units, Kingsoft Office Software and Kingsoft Cloud Holdings, have gone public after that.

Lei is not new to equity incentives. On July 2, the Beijing-based handset maker said it will give 70.2 million shares to more than 3,900 employees. The assets were worth as much as HKD1.8 billion (USD231.8 million) based on Xiaomi's stock price when the morning session ended.

Editor: Emmi Laine, Xiao Yi

 

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Keywords:   Kingsoft,Xiaomi,Lei Jun