Xiaomi has spent 2 billion yuan to set up its new management company in China

Earlier this week, Wuhan Yi Yubiling, a management company, was established in China with a registered capital of 2 billion yuan (approximately US $ 313 million). The company is wholly owned by Xiaomi .

According to pandaily, the news comes from business registration information, which indicates that the start-up is legally represented by Alain Lam. This information states that the scope of business includes corporate governance, corporate governance consulting and information consulting services. According to the Chinese tech giant, the significant investment to establish the company will also help advance its business development.

Xiaomi

Remarkably, the investment began when the company shared its financial report for the third quarter of this year. The report shows that Xiaomi has invested in more than 360 companies by the end of the third quarter, with a total investment of about 59.1 billion yuan (approximately US $ 9.2 billion). Aside from investing in other companies, the company has recently even registered its second car unit as it seeks to expand its horizons in the booming electric car market. It is even planning to build a new car plant in Beijing with an annual production capacity of 300,000 units.

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