Xiaomi Corporation entered into a shareholder vendor agreement to acquire remaining 50.1% stake in Zimi International Corp. from Li Jun, Huang Wenyuan, Shunwei Technology II Limited, Little Smart Limited, Power&Fun Holdings Limited and Zifone for approximately $200 million.

Xiaomi Corporation (SEHK:1810) entered into a shareholder vendor agreement to acquire remaining 50.1% stake in Zimi International Corp. from Li Jun, Huang Wenyuan, Shunwei Technology II Limited, Little Smart Limited, Power&Fun Holdings Limited and Zifone for approximately $200 million on March 24, 2021. Under the terms of transaction, the consideration will be made by Xiaomi by paying $26.2 million to Power&Fun, $17.5 million to Melly, $40.74 million to Little Smart and $91.82 million to Shunwei via wire transfer of immediately available funds on the date of the Closing and $28.45 million shall be settled by the Company by way of issue and allotment of 8.67 million Consideration Shares to Zifone at Closing. As of July 5, 2021, the consideration shares have been issued. MELLY, Power&Fun, Shunwei, Zifone and Little Smart currently owns 4.29%, 6.41%, 22.47%, 6,96% and 9.97% stake in ZMI. Xiaomi Corporation currently owns the Target Company as to 49.91%. Upon Closing, the Target Company will become a wholly-owned subsidiary of the Company. Transaction is subject to obtaining all the necessary approval of PRC State Administration for Market Regulation and/or its local branch, Xiaomi having obtained the approval for the listing of, and the permission to deal in the Consideration Shares by the Stock Exchange and Company having completed its business, legal, financial, management, technology and intellectual property due diligence of the Target Group and is satisfied with the result thereof. Closing shall take place on the tenth (10th) Business Day after the day on which the conditions precedent of the Shareholder Vendors Agreement have been satisfied