Xiaomi, a Chinese electronics manufacturer, said it paid a total of 7,0231,664 shares to 3,904 employees for free.
According to Chinese media, Xiaomi announced such incentives for outstanding employees on the 2nd. Based on the closing price of Xiaomi’s stock, Hong Kong dollar of 26.2 is worth 1.84 billion U.S. dollars. In other words, per person received an average of 470,000 Hong Kong dollars.
In particular, young developers in their 20s were among the employees who received their shares. Moreover, the youngest person eligible for incentives is a 24-year-old developer.
More than 700 young engineers, including research and development engineers, designers, software developers, and cloud computing staff, received 16,042,000 shares, which is said to be worth 600,000 Hong Kong dollars per person.
Incentives for young engineers were led by Xiaomi Group Chairman Lei Jun. Xiaomi said such incentives would expand further in the future.
Xiaomi is currently increasing its investment in research and development by hiring 5,000 new developers this year. Xiaomi spent about 10 billion yuan (1.74 trillion won) on research and development alone last year.