小米集团采用不同投票权架构的动因及影响研究

Research on the Motivation and Impact of Xiaomi Group's Adoption of the WVR Structure

本文以港交所上市的首家采用双重股权结构的公司小米集团为例,研究其采用不同投票权架构的动因及影响。并对不同投票权架构发展提出建议,以期为其他企业提供经验借鉴,同时有助于市场完善监管并加强各项配套制度建设。

This article takes Xiaomi Group,the first company listed on the Hong Kong Stock Exchange to adopt a dual-shareholding structure,as an example,to study the motivation and impact of its WVR structure.It also puts forward suggestions on the development of the WVR structure,with a view to providing experience for other companies,and at the same time helping the market improve su-pervision and strengthen the construction of various supporting systems.