Lei Jun Clarifies: Report of Making Over 10 Billion from Yushu IPO Is Wrong; It Was Shunwei's Early Angel Investment
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On September 22, Xiaomi founder and CEO Lei Jun held a live stream to address rumors that he made over 100 billion yuan from investing in Unitree Robotics, the first humanoid robot company listed on China's A-share market. Unitree went public on August 19 with a 629.44% surge on its first trading day. Lei Jun clarified that the investment was made by Shunwei Capital, not by him personally, and that it was an early-stage angel investment, not a new stock subscription. He stated that he has known Unitree founder Wang Xingxing for over a decade and that Shunwei was the sole investor in Unitree's Series A round. Lei Jun explained that Shunwei and Xiaomi have several investment vehicles supporting hard-tech innovation and young entrepreneurs, motivated by his own difficulties in securing funding when he started his business 20 years ago. The article also notes that Wang Xingxing attended Xiaomi's spring product launch in March with Unitree's latest robot, and Lei Jun visited Unitree on September 14, where he was shown the humanoid robot and even kicked it.
Source report
September 22 — Lei Jun, founder, chairman and CEO of Xiaomi, addressed rumors during a livestream last night regarding his involvement with Unitree Technology, the first publicly traded humanoid robot company on China's A-share market.
Unitree went public on August 19, surging 629.44% on its opening day. Online speculation claimed that "Lei Jun made over 10 billion yuan from Unitree's IPO."
Lei Jun's Clarification
During the livestream, Lei Jun clarified:
- The investment was made by Shunwei Capital, not by him personally.
- It was not an IPO subscription, but rather an early-stage angel and venture capital investment.
Lei Jun noted that he had known Unitree founder Wang Xingxing for over a decade, and that Shunwei was the sole investor in Unitree's Series A round. He acknowledged that Shunwei's shareholders have indeed profited from the investment.
Supporting Early-Stage Innovation
Lei Jun explained the rationale behind such investments:
"Shunwei and Xiaomi have several investment vehicles dedicated to building the ecosystem and industrial chain, including supporting young entrepreneurs. We have been promoting hardcore tech innovation. When I started my own business, it was very difficult to find funding."
He added that 20 years ago, he began advocating for the development of angel investing in China, so that "young people with ideas can get their first investment and make their dreams come true."
Unitree and Xiaomi Collaboration
In March, ahead of Xiaomi's spring new product launch, Wang Xingxing brought Unitree's latest robot to support the debut of the new Xiaomi SU7.
At the time, Lei Jun remarked: "This year marks the 10th anniversary of Unitree. Thank you for giving us the opportunity to invest five years ago."
On September 14, Lei Jun visited Unitree's facility, where Wang Xingxing accompanied him on a tour of humanoid robot demonstrations. During the visit, Lei Jun was also seen playfully kicking one of the robots.
Source
快科技Eastern