(Yicai Global) March 24 -- Xiaomi, the world’s third-biggest smartphone supplier, has announced its largest stock option award to staff since the Chinese company went public nearly four years ago.

Xiaomi handed 174.9 million shares worth about HKD2.6 billion (USD332 million) to 4,931 employees yesterday, the Beijing-based company said in a statement today. The award equalled nearly 0.69 percent of Xiaomi’s total share capital.

Based on Xiaomi’s closing share price of HKD14.78 (USD1.89) yesterday, the average award was about HKD520,000 (USD66,470). Employees can hold the stock until April 1, 2032, Xiaomi said.

Xiaomi set up its equity incentive plan before listing in Hong Kong in July 2018. The company has now awarded 677.8 million shares and will not grant more than 1.1 billion, it said today.

The company handed staff shares twice last summer, granting 16 million to the first group of 700 inducted into its Young Engineers Incentive Program on July 2 and 119.7 million to 122 employees, including mid-level and senior executives as well as tech staff, on July 6.

Xiaomi’s net profit fell 5.1 percent to CNY19.3 billion (USD3.0 billion) last year because of changes in the fair value of investments, according to the firm’s annual report published on March 22. But revenue jumped 33.5 percent to CNY328.3 billion, a record high.

Shares of Xiaomi [HKG: 1810] closed 1.9 percent lower at HKD14.5 today. The stock climbed 4.1 percent yesterday.

Editor: Peter Thomas