Fortune announced yesterday their 2019 edition of Fortune 500 companies. It also published an editorial called “It’s China’s World” as for the first time, there are more Chinese companies (if Taiwan is included) than American ones on the list.
Amongst a number of Chinese companies that made to the list, Xiaomi grabbed all the attention in China. Founder Lei Jun sent an internal note announcing that every employee will be awarded 1000 RSUs (Worth HKD 8590 at market close yesterday) in a celebration.
Xiaomi has certainly come a long way – it is vision is lofty and Apple like, as we explained last year; however, it is also facing a lot of pressure, especially competitive pressure, now it is a public company – the most visible sign is its stock price slump since IPO last year.
The company still has a long, hard journey ahead – keeping the team motivated and rewarded, in addition to all the strategy and execution, is essential to its long term success.