With Xiaomi's financial report released, many people have uncovered numerous secrets from it.

For instance, Xiaomi's mobile phones, AloT, and internet businesses have all been propelled by its automotive ventures. Another example is that Xiaomi's automotive gross margin is 15.4%, earning approximately RMB 36,000 per vehicle. Furthermore, based on Xiaomi's current automotive expenditures, profitability can be achieved with quarterly sales of 80,000 units.

However, amidst this financial report, there's a figure that's often overlooked: Xiaomi states that as of June 30, 2024, it has invested in 430 external companies.

Xiaomi values these 430 enterprises at a total book value of RMB 65.4 billion.

From these two figures, it's evident that besides its core business, Xiaomi has a significant portion dedicated to external investments.

In 2011, Lei Jun established Shunwei Capital and later founded various investment funds for external investments.

Xiaomi conducts its investments through two platforms based on different types: Xiaomi Industrial Investment and Xiaomi Strategic Investment.

Xiaomi Industrial Investment focuses on upstream industries and strategic layouts, such as investing in chips and new energy vehicles, supporting and growing alongside its supply chain. This falls under industrial investment.

On the other hand, Xiaomi Strategic Investment primarily targets downstream industries, enhancing and expanding Xiaomi's ecosystem, encompassing consumer electronics, smart hardware, entertainment, etc. This strategic investment fosters the growth of Xiaomi's ecosystem partners.

Hence, we witness numerous enterprises joining Xiaomi's ecosystem, spanning various brands and types like power strips, portable chargers, charging cables, small appliances, etc. Their growth has been exponential since entering Xiaomi's ecosystem.

Xiaomi leverages its traffic and capital to nurture its partners, integrating them into its system for mutual growth.

Many have speculated that Lei Jun is China's hidden richest person due to Xiaomi's hundreds of external investments. If these enterprises thrive, Lei Jun's wealth could skyrocket.

However, data indicates that the 430 invested enterprises are valued at over RMB 60 billion, making it challenging for Lei Jun to become the richest person. Nevertheless, it's undeniable that with so many investments, Lei Jun is indeed a hidden investment tycoon, outperforming many professional investment institutions.