On the morning of July 28, a Xiaomi executive clarified that the reported gains from an investment in Cxmt Corporation should not be conflated with the personal wealth of CEO Lei Jun.

Xu Jieyun, Special Assistant to the Chairman and Deputy General Manager of the Strategic Marketing Department of Xiaomi Group (XIAOMI-W), stated in response to the claim that "Lei Jun made 700 million yuan from the Cxmt IPO." He said the action is a company investment and cannot be mixed up with individual wealth.

Cxmt Corporation officially debuted on the STAR Market on July 27. On its first trading day, the stock surged dramatically, closing up 465.82% and pushing its market capitalization to 3.28 trillion yuan.

According to media reports, a wholly-owned subsidiary of Xiaomi Corporation, Wuhan 1810 Enterprise Management Co., Ltd., participated in the strategic placement for Cxmt, securing 18.2448 million shares. Based on the issue price of 8.66 yuan per share, the company made a paper profit of 736 million yuan on its first trading day.

Media reports suggested that Lei Jun, through Wuhan 1810, had an unrealized gain of 717 million yuan on Cxmt's first day of trading.

Addressing this on Weibo, Xu Jieyun said, "Friends, take it as a fun story, but don't take it seriously. It can't be calculated that way. This is a corporate investment act; the specific subsidiary entity and personal wealth cannot be lumped together. Also, I wish Cxmt all the best once again."