Lin also told CNBC that the impact of the trade fight between the world's two largest economies wasn't a huge concern in the short term as Xiaomi had not done much business in the U.S.
So why did Xiaomi's IPO flop?
An online real estate company backed by China's major property developers is seeking an initial public offering (IPO) in Hong Kong following its privatization from the New York Stock Exchange. The 8-year-old company has yet to give details of how that business model will work outside China.
"It will be hard to convince investors", said Elsie Sheng, an analyst with Orient Finance Holdings.
"We will choose an appropriate time for the listing", Jerry Liao Jieyuan, chief executive and founder of the company, said at a press conference.
Xiaomi's IPO raised $4.7 billion at a valuation of about $54 billion - the world's biggest tech or telecom listing since Alibaba raised more than $20 billion in 2014, according to data provider Dealogic. Institutional investors including Hillhouse Capital, Qualcomm Inc. and China Mobile Ltd. also chipped in. The deal was led by CLSA, Goldman Sachs and Morgan Stanley.
Founded in 2010, WeDoctor is one of several online health care providers that have come up in recent years to tackle the problem of China's overstretched and underfunded hospitals, where waiting times are long and patients reportedly have to pay large amounts of money to middlemen to get appointments with specialists.
By contrast, China Literature Ltd, the e-book arm of Tencent Holdings, late past year raised $1.1 billion in its Hong Kong IPO amid heavy demand, with the retail portion being 625 times oversubscribed.
Xiaomi's tribulations began nearly the moment it embarked on its IPO journey. The company didn't specify when it will debut and how much it expects to raise. But that fell apart when it couldn't adequately address questions posed by regulators.
At current levels, the company's market capitalization now stands at HK$366 billion, or about $47 billion. It's a far cry from a year or so ago, when the billionaire prompted a bout of internal soul-searching via a heartfelt missive to employees.