SHANGHAI: Lei Jun, chief executive officer of Xiaomi Corp, has made a comeback into the Top-10 Forbes China Best CEO list 2024, riding the company’s successful foray into electric vehicles (EVs).

Lei joined other prominent Chinese corporate executives such as Chen Lei and Zhao Jiazhen; both Pinduoduo CEOs, Zeng Yuqun; CEO of EV battery maker Contemporary Amperex Technology Ltd, Wang Chuanfu; CEO of carmaker BYD, and Zhong Shanshan; CEO of bottled water company Nongfu Spring on the list.

All the 10 companies concerned saw an average stock price increase of 47% and a net profit growth rate of 170% during the performance evaluation period.

Lei steered Xiaomi, a global major in smartphones, into EVs with the launch of the SU7. This move redefined the company’s market strategy, said Forbes.

The SU7, which was unveiled in December and launched in late March, made a spectacular market debut, with 88,898 units sold within the first 24 hours, largely driven by Lei’s adept use of live streaming for sales, the list said.

Founded in 2010, Xiaomi quickly rose to become China’s smartphone market leader with its competitive pricing strategy.

Lei’s personal marketing approach, positioning himself as a relatable tech enthusiast, has resonated with consumers.

In 2020, Lei launched his personal account on short video social media platforms such as WeChat and Douyin.

This has bolstered his influence. His Douyin account is followed by 28.8 million people.

 - China Daily