Xiaomi CEO donates US$183m to alma mater, Wuhan University
Lei Jun, Xiaomi Corp's chief executive, donated 1.3 billion yuan (US$183.3 million) to his alma mater, Wuhan University, which is the largest single donation to the 130-year-old university and won public favor.
On Wednesday, a donation signing ceremony was held at Wuhan University. Lei said the donation would primarily focus on three areas: fundamental research in the six sectors of mathematics, physics, chemistry, literature, history, and philosophy; technological innovation in the field of computer science; and financial support for university students.
"It is to foster more innovative companies like Huawei, Xiaomi and BYD," Lei said in his speech, which kindled public praise as he put Huawei ahead of Xiaomi.
"It is respectable, showing real wisdom and entrepreneurship," said a Xiaomi follower surnamed Mu.
With huge investment, Huawei is the leading 5G patent contributor globally with a market share of 14 percent, while Xiaomi accounts for 4.1 percent. Both companies are listed in the top 10 contributors, according to the China Academy of Information and Communications Technology.
BYD leads the surge of Chinese electric car industries, which have generated rapidly growing sales in overseas markets.
HK-listed Xiaomi plans to invest over 100 billion yuan over the next five years, covering research and innovation. They will cover sectors including humanoid, on-device artificial intelligence, and electric cars, which will debut in 2024.
In 1991, Lei Jun graduated from Wuhan University with a bachelor's degree in computer science and has been a member of the university's board since 2003.