Analysis of the Impact of Xiaomi's Executive Entrepreneurship Wave on 01810.HK's Talent Strategy and Long-Term Competitiveness

Based on the collected information, I will prepare an in-depth analysis report on the impact of Xiaomi’s executive entrepreneurship wave on the talent strategy and long-term competitiveness of 01810.HK (Hong Kong-listed Xiaomi).

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On January 8, 2026, Wang Teng, former General Manager of Xiaomi’s China Region Marketing Department and General Manager of the REDMI Brand, announced via his personal Weibo account that he had established a new company, “Beijing Jinri Yixiu Technology Co., Ltd.”, officially entering the AI sleep health track [1][2][3]. The company has a registered capital of RMB 1 million, was officially registered on January 6, 2026, and Wang Teng holds 55% of the shares and serves as the legal representative [1][2].

Wang Teng worked in the Xiaomi system for nearly 10 years (2016-2025), and once led the product planning and marketing promotion of several best-selling models such as the Redmi K40 series, being one of the core managers of Xiaomi’s mobile phone business. His personal Weibo has 1.86 million followers, and he was once a Xiaomi executive with great user influence [1][2].

On September 8, 2025, the Xiaomi Group Professional Ethics Committee issued a notice stating that Wang Teng had committed “serious violations of regulations and disciplines such as leaking company confidential information” and “conflicts of interest”, and was dismissed in accordance with the company’s system [1][2]. Wang Teng subsequently responded on Weibo, admitting his dereliction of duty and reflecting deeply, but denied online rumors such as “stealing and selling confidential information”.

“Jinri Yixiu” focuses on the sleep health technology field, and the reasons for choosing this direction include:

1. Market Demand-Driven
   : Sleep quality issues have become a widespread health problem, affecting work efficiency and quality of life
2. Technical Feasibility
   : Combining Wang Teng’s undergraduate background in bioinformatics and more than a decade of experience in technology products, he can integrate sleep science with AI technology
3. Development of AI Large Models
   : Through the combination of sensors and large models, realize active perception and intervention of sleep status [1][2][3]

It is worth noting that Wang Teng has clearly stated that he is willing to access the Mijia ecosystem in the future, showing his intention to maintain a friendly relationship with Xiaomi [2].

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Xiaomi Group has experienced a number of important executive departure events in history:

Executive	Departure Time	Former Position	Whereabouts
Shouzi Chew	2021	CFO, President of International Department	Joined ByteDance as CFO
Xiang Wang	Recent Years	President, Head of Strategic Cooperation	Transferred to Company Consultant
Feng Zhang	2023	Head of Supply Chain, President	Transferred to Company Consultant
Wanqiang Li	2019	Co-Founder	Resigned due to personal reasons
Teng Wang	September 2025	General Manager of China Region Marketing Department, General Manager of REDMI Brand	Founded “Jinri Yixiu”

: Xiaomi launched a new partner system in 2020, adding four non-founding partner executives. The partners in 2020 included Lei Jun, Bin Lin, De Liu, Feng Hong, Chuan Wang (founding partners) as well as Xiang Wang, Shouzi Chew, Feng Zhang, Weibing Lu (non-founding partners). As of now, some partners have resigned or transferred to consultant positions [4][5].

The industry refers to Xiaomi as the “Whampoa Military Academy” of China’s technology industry, and this title reflects the complex impact of talent flow:

:

• The market may worry about the stability of the executive team, leading to pressure on the stock price
• The loss of core talents may affect the continuity of key business lines
• Competitors may gain management experience and market insights cultivated by Xiaomi

:

• Proves that the Xiaomi system has the ability to cultivate talents capable of independent operations
• The spillover effect of technology and management methodologies may spawn a “Xiaomi ecosystem” of entrepreneurship
• Resigned executives maintain good relations with Xiaomi, which may form cooperation rather than competition [6]

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According to publicly disclosed information from Xiaomi, its talent strategy presents the following characteristics:

• In terms of cadre selection priority, internal cultivation is greater than direct external recruitment
• Among the group executives newly promoted after the listing, the number of internal promotions is more than external recruits
• Lei Jun emphasizes “finding reliable people” and establishing appropriate incentive mechanisms [7]

• Launched a new partner system in 2020, forming an incentive system combining founding partners and non-founding partners
• Xiaomi EV Equity Incentive Plan: The authorized upper limit is 1 billion shares, accounting for 10% of the total shares of Xiaomi EV
• Retain and motivate core talents through flexible means such as the “Share Option Plan” [4][5]

• Transformed from the early flat “guerrilla” structure to a “regular army”
• Established the Group Operation Management Committee and Human Resources Committee, with Lei Jun serving as the director
• In September 2024, Weibing Lu was promoted to Group President and President of the Mobile Phone Department, promoting the younger management echelon [4]

According to the data from Xiaomi’s 2023 Sustainable Development Report:

Indicator	2023	2022	2021
Employee Turnover Rate	11.98%	13.96%	12.82%
Turnover Rate of Employees Under 30	16.10%	17.09%	15.11%
Turnover Rate of Employees Aged 30-50	9.57%	12.05%	11.06%
Training Coverage	98.13%	97.67%	97.42%
Average Training Hours per Employee (hours)	30.17	35.57	25.76

The data shows that Xiaomi’s employee turnover rate is on a downward trend, dropping to 11.98% in 2023, indicating that the talent retention mechanism has improved [8].

Since 2025, Xiaomi has been active in the AI talent war:

• Luo Fuli Case
  : Luo Fuli, a core member of the former DeepSeek team, joined Xiaomi in December 2025
• Launch of MiMo Large Model
  : Luo Fuli released the MiMo large model at Xiaomi’s “All-Scenario Ecosystem of People, Cars and Homes” Partner Conference
• High-Salary Strategy
  : Xiaomi adopts a high-salary strategy to attract top AI talents [9]

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:

According to market analysis, Wang Teng’s entrepreneurship event may have the following short-term impacts on the stock price of Xiaomi Group-W (01810.HK):

• Pressure Factors
  : Market concerns about the stability of the executive team may trigger a slight pullback
• Technical Aspect
  : Xiaomi’s stock price has recently fluctuated in the range of HK$16-18, with shrinking trading volume, and the MACD is converging near the zero axis, lacking a directional breakthrough
• Impact of News
  : If the market interprets this as a signal of “talent loss”, it may trigger short-term selling [6]

:

• The sentiment of industry chain companies such as MAXSCEND MICROELECTRONICS and Will Semiconductor may be neutral to cautious
• Wait and see whether “Jinri Yixiu” constitutes a direct competitive relationship

:

Business Area	Importance	Risk Level
REDMI Brand Operation	High	Medium (the brand has established a mature operation system)
China Region Marketing	High	Medium (the team has a inheritance mechanism)
Product Planning	High	Low (successors are in place)

:

• Wang Teng was promoted to General Manager of China Region Marketing Department in February 2024 and was dismissed in September 2025, serving for about 7 months
• The REDMI brand has established a mature operation system and product line planning
• Core management such as Weibing Lu remains stable [2][4]

:

Dimension	Analysis Conclusion
Track Overlap	Low (sleep health technology vs. Xiaomi’s core business)
Ecosystem Relationship	Potential Cooperation (Wang Teng stated willingness to access Mijia)
Talent Siphoning	Medium (the startup team comes from Xiaomi and Huawei)
Technology Spillover	Low Risk (the sleep health field is quite different from Xiaomi’s main business)

The track Wang Teng chose is a new track (AI + sleep health), which has low overlap with Xiaomi’s existing businesses (smartphones, AIoT, smart cars).

[1][2][6].

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From a positive perspective, executive entrepreneurship actually validates Xiaomi’s talent cultivation capabilities:

• Entrepreneurship by resigned executives may become an extension of Xiaomi’s ecosystem
• Wang Teng’s statement of accessing the Mijia ecosystem shows the ecosystem recognition of “Xiaomi system” entrepreneurs
• A virtuous cycle of “Xiaomi cultivation - entrepreneurship - cooperation” may be formed in the future

• The entrepreneurship behavior of former Xiaomi executives actually validates Xiaomi’s industry status
• The success of entrepreneurs may feed back to Xiaomi’s brand value
• Helps attract more talents to join Xiaomi (the “gold-plating effect”)

• Xiaomi’s management methodologies and product methodologies are spread through entrepreneurs
• Enhance Xiaomi’s ideological leadership in the industry [6][7]

• The Wang Teng case shows that even executives may be dealt with due to violations
• Executives who resign normally may take away more tacit knowledge
• Competitors may target Xiaomi’s middle and senior talents

• Against the background of the “talent war” in the technology industry, Xiaomi needs to continuously optimize incentives
• ByteDance launched the “Doubao Long-Term Incentive Plan”, and Tencent poaches AI talents with double salaries [9]
• Xiaomi needs to maintain talent competitiveness in terms of salary, equity, and career development

• Wang Teng’s rapid promotion and departure show the challenges of the succession plan
• Key positions need more sound talent echelon construction
• Avoid organizational risks caused by “setting up positions for people”

The talent competition in China’s technology industry presented new characteristics in 2025:

Company	Talent Strategy	Latest Developments
ByteDance	Doubao Long-Term Incentive Plan	Multiple AI heads have resigned, facing “internal and external troubles” [9]
Tencent	Double Salary Poaching	Poached more than ten senior researchers from ByteDance’s Seed team [9]
Alibaba	Partner Promotion	Zhou Jingren became an Alibaba partner, responsible for the Tongyi Laboratory [9]
Baidu	Organizational Structure Adjustment	Established two new large model R&D departments directly reporting to Robin Li [9]
Xiaomi	High-Salary Poaching + Equity Incentives	Introduced AI talents such as Luo Fuli, and launched the MiMo large model [9]

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:

• Xiaomi’s core management remains stable (Lei Jun, Weibing Lu, etc.)
• The high-end strategy of the mobile phone business continues to advance
• The strategic framework of “All-Scenario Ecosystem of People, Cars and Homes” is clear
• Substantial progress has been made in AI talent introduction (MiMo large model)

:

• Executive departures may trigger market concerns about team stability
• The Wang Teng case exposes challenges in internal compliance management
• The talent competition in the technology industry continues to intensify
• Global macroeconomic uncertainty affects consumer electronics demand

Monitoring Dimension	Specific Indicator	Early Warning Threshold
Management Stability	Changes in core executives	More than 2 executives resign within 3 months
Talent Retention	Changes in employee turnover rate	Continuous increase of more than 15% in 2 quarters
Business Performance	Delivery volume of mobile phones/automobiles	Year-on-year decrease of more than 20%
Market Sentiment	Trading volume of 01810.HK (Hong Kong Stock Exchange)	Abnormally amplified or shrunk

Scenario	Probability	Trigger Condition	Stock Price Impact
Optimistic Scenario	30%	Core management is stable + automobile business exceeds expectations	+15% to 20%
Neutral Scenario	50%	Business operates smoothly, no major talent loss	Range-bound fluctuations
Pessimistic Scenario	20%	Multiple executives resign + performance falls short of expectations	-10% to 15%

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• Wang Teng’s entrepreneurship event itself has limited impact on Xiaomi’s core business
• The market may interpret this as a signal of “talent loss”, triggering short-term fluctuations
• The background of Wang Teng’s dismissal due to violations reduces the negative impact on Xiaomi’s brand reputation

• Xiaomi has the ability to cultivate executives with independent entrepreneurship capabilities
• Entrepreneurship by former executives can form ecosystem extension rather than direct competition
• It is necessary to continuously optimize talent incentive mechanisms to cope with industry competition

• Improve the succession plan for key positions to reduce dependence on key talents
• Strengthen the compliance management system to avoid recurrence of similar incidents like Wang Teng’s
• Continuously optimize equity incentives to maintain talent competitiveness

• If the stock price pulls back by more than 10% due to the news, consider buying on dips
• Pay attention to the delivery data and market share changes of Xiaomi SU7
• Monitor management change announcements

• Evaluate the commercialization progress of Xiaomi’s MiMo large model
• Pay attention to the release of synergistic effects of the “All-Scenario Ecosystem of People, Cars and Homes”
• Track the changing trend of employee turnover rate

• Observe Xiaomi’s competitiveness in the AI talent war
• Evaluate the effectiveness of ecosystem expansion
• Judge the formation and impact of the “Xiaomi system” entrepreneurship ecosystem

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[1] Yangcheng Evening News - “Former Xiaomi Executive Wang Teng Announces Entrepreneurship, Has Established New Company ‘Jinri Yixiu’” (https://news.ycwb.com/ikimvkjtkc/content_53897933.htm)

[2] CLS - “Former Xiaomi Executive Wang Teng Crosses Boundaries to Start Business, Enters the ‘AI Sleep’ Track” (https://www.cls.cn/detail/2251849)

[3] Sina Finance - “Wang Teng, Dismissed by Xiaomi, Establishes New Company ‘Jinri Yixiu’, Startup Team Comes from Xiaomi, Huawei, etc.” (https://finance.sina.com.cn/stock/t/2026-01-08/doc-inhfqcaz1517016.shtml)

[4] Shenwan Hongyuan Research - “Xiaomi Group-W (01810)” (https://pdf.dfcfw.com/pdf/H3_AP202411171640927776_1.pdf)

[5] Scribd - “Interpretation of Xiaomi’s Equity Incentive System” (https://www.scribd.com/document/882979024/)

[6] Eastmoney/NewsNow - “Wang Teng Resigns to Start Business: ‘Talent Drain’ for Xiaomi or ‘Fission Reaction’ for China’s Hard Technology?” (https://www.shishixinwen.news/news/eastmoney/live/202601083612444467)

[7] Culture Horizon - “Reviewing Xiaomi’s Ten Years: Lei Jun’s Employment Philosophy and the Establishment of the Xiaomi Model” (https://www.culturechina.cn/m/45817.html)

[8] Xiaomi Group 2023 Sustainable Development Report (https://cdn.cnbj1.fds.api.mi-img.com/staticsfile/svhc/2023年可持续发展网财报/)

[9] ChinaVenture - “ByteDance Raises Salaries, Tencent ‘Poaches People’, Alibaba, Baidu, Xiaomi Restructure Simultaneously” (https://m.chinaventure.com.cn/news/78-20251222-389432.html)

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