Xiaomi CEO Lei Jun Withdraws as Huaduo Network Technology Shareholder

Chinese business data platform Tianyancha indicated on Tuesday that Guangzhou Huaduo Network Technology Co., Ltd., an affiliated company of JOYY, has issued a change to its official registration.

Lei Jun, founder and CEO of technology company Xiaomi, has withdrawn from the list of shareholders in Huaduo Network Technology, but is still serving as supervisor. In addition, Zhao Bin, former CTO of YY, and Cao Jin, co-founder of JOYY, have also withdrawn as shareholders.

In the past few months, Lei Jun has successively stepped down from several Xiaomi affiliated companies including Xiaomi Technology Co., Ltd. and Beijing Xiaomi Electronics Co., Ltd. Xiaomi Youpin’s affiliated company also previously changed its registration information, and Lei Jun withdrew from the position of director.

On the other hand, according to Tianyancha, Lei Jun took up the post of manager and executive director of Xiaomi Automobile Technology Co., Ltd. on November 19, 2021. Later, Lei Jun began serving as manager and executive director of Xiaomi Auto Co., Ltd. on September 2, 2021.

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According to its official website, JOYY was established in April 2005, as a global social media platform. It was listed on the Nasdaq in November 2012. Its core products include livestreaming platforms YY and Bigo Live, with a registered capital of 100 million yuan ($15.7 million). Li Ting serves as executive director, general manager and legal representative.

When JOYY went public, its business covered livestreaming, short video sharing, social networking, e-commerce, education, finance and other fields. It operates a number of products including YY.com and YY Education.