Xiaomi’s Mi Home Business Scope Adds Real Estate Brokerage

Commercial inquiry platform Tianyancha shows that the business scope of Mi Home Commercial Co., Ltd has changed to include non-residential real estate leasing and real estate brokerage in its offerings.

Mi Home was established in June, 2017 with Lu Weibing as its legal representative and a registered capital of 100 million yuan. Its business scope includes communication products and accessories, computer hardware and software and auxiliary equipment among other household items. It is 100% owned by Xiaomi Communications Co., Ltd.

In April, the number of Xiaomi Homes exceeded 5,000. In May this year, Lu Weibing, Senior Vice President of Xiaomi, said that, in the future, Xiaomi will open more than 10,000 Mi Homes in various towns and cities. With transparent online and offline information, township users can purchase products with the same price, quality and user experience as online users.

In August, Mi Apartment (Beijing) Commercial Operation Management Co., Ltd. was established with a registered capital of 700 million yuan ($108 million). Its business scope includes property management, commercial apartment rental, office rental, food management (pre-packaged food sales) and technical services.

At that time, Wang Hua, head of Xiaomi’s public relations, responded, “It is an employee apartment, mainly to alleviate the pressure of our employees, especially fresh graduates, to rent a house at such high costs.”

SEE ALSO: Xiaomi to Found Mi Apartment as Employee Dormitory for 700 Million Yuan