(Yicai) Aug. 23 -- Chinese tech giant Xiaomi handed more than 41 million shares, which are now worth HKD783.5 million (USD100 million), to 1,510 employees and service providers last year.

Xiaomi disclosed its 2023 share distribution scheme yesterday, the same day it released its semiannual earnings report.

Based on Xiaomi's closing price [HKG: 1810] of HKD19.10 (USD2.45) yesterday, the 41 million shares are worth HKD783.5 million, meaning that each employee received an average reward of HKD518,860 (USD66,550).

However, the shares were worth only HKD15.60 (USD2) apiece for a total of HKD639.9 million (USD82.1 million) at the end of last year, an average of HKD423,780 (USD55,500) per staffer.

Xiaomi has already granted employees a total of 229 million shares this year, worth nearly HKD4.4 billion (USD560.9 million) based on yesterday's closing price.

On Jan. 4, Xiaomi's founder, Chairman, and Chief Executive Officer Lei Jun awarded shares to two technical teams. On March 20, the Beijing-based firm granted over 150 million shares to 4,727 staffers, and on May 24, it gifted 34.1 million shares to 1,104 employees.

Xiaomi's net profit surged last year and in the first quarter of this year, thanks to significant contributions from its smartphone and automotive business. In 2023, the firm's net profit jumped 126 percent to CNY19.3 billion (USD2.7 billion) from the previous year and rose 51 percent to CNY12.7 billion in the six months ended June 30 from the same period last year.

Despite the overall positive performance, Xiaomi's auto business is still in its early development stages and stayed in the red in the first half. Xiaomi Auto delivered 27,307 SU7 in the second quarter, and its smart electric vehicle innovation business division incurred a loss of CNY1.8 billion (USD252.2 million) in the period.

Editor: Futura Costaglione