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The commercial debut of Xiaomi in Hong Kong disappointed

Apparently Xiaomi's debut in Hong Kong's stock exchange was not entirely positive, which on balance has registered with its own actions one decrease of 6%. Definitely critical values ​​for the fourth smartphone maker in the world, which has raised 4,7 billions of dollars, poco more than half of the goal that had been hoped for, valuing the company at 54 billions of dollars. In short, a disappointing debut, certainly due to the trade war between the US and China. In any case, Xiaomi's commercial debut in the Hong Kong IPO it was the largest sale for a technology company since the Alibaba company debuted in 2014, raising $ 25 billion.

Although the expectations were higher, as the shares of the Chinese company fell from a value of 17 dollars to 16 and then recover during the day, this does not discourage Xiaomi and especially the colleagues in the sector who are planning to launch themselves in public offers in the coming months, like Tencent Music or the online ticket platform, Meitun Dianping.

The commercial debut of Xiaomi in Hong Kong disappointed

Outside its domestic market in China, Xiaomi is one of the main actors in India, where it rivals Samsung for the throne of popularity in smartphone production. Last year, Xiaomi has moved to the Spanish market where it has from poco established its European headquarters and reports suggest that it is also trying to enter the US market to reach the popularity of Apple.

While smartphones account for 70% of Xiaomi's revenue, what is increasingly gaining rapid growth in the market is the division of home appliances and devices connected to the Internet, including air purifiers, robot vacuum cleaners and much more. Xiaomi every day tackles the tough competition of companies such as Apple, Huawei, Lenovo and Samsung but also the fierce Vivo and Oppo. Unfortunately, Xiaomi debuted on the stock exchange at a very critical moment, due to the commercial tensions that have influenced investor confidence, considering that the Hang Seng index in Hong Kong is down by 5,8%.

That said, for Xiaomi it was anyway a moment of pride and affirmation, which the CEO Lei Jun wanted to share with all her fans to which he dedicates an open heart event that cites this:

"To our distinguished guests, I welcome you!

Right now, in this same room, I'm excited beyond every word!

Eight years ago, I had a crazy idea. I wanted to use “internet thinking” to create mobile phones and improve the perception of products made in China globally, to allow everyone in the world to enjoy the benefits of innovative technology. To be honest, hardly anyone believed in this crazy idea at the time. Luckily, when the company opened its business on the first day, we still had 13 people who believed in this dream and they got together to drink millet porridge (called “xiaomi” porridge in Chinese). I still don't know if they really believed it at the time. Today they are all here with us, so I can ask them directly.

There are also 175 Xiaomi employees who came to witness today's celebration on behalf of the 19.000 employees. Thanks again to everyone including their family members from Xiaomi. Together, we have achieved incredible things.

I am especially grateful to our Mi Fans around the world. Eight years ago, we developed MIUI, which was our first product. The first edition had only 100 users, and with the support of these 100 users, we were able to grow step by step and now have over 190 million monthly active users. Today, we invited 6 Mi Fans who have been strong supporters of Xiaomi since 2010, to attend our IPO ceremony in person. I would like to invite Mr. Hong Jun to the stage as Mi Fan representative. We work hard to gain the recognition and trust of our Mi Fans because we wouldn't be here without their support.

We would also like to thank the Hong Kong Stock Exchange and the Hong Kong Securities Regulation Commission. We are an internet company and from day one we have established a weighted structure for voting rights with dual class shares. Without Hong Kong capital market innovation, it would be difficult for us to have the ability to publicly list in Hong Kong. I believe there will be more high quality internet companies coming to Hong Kong in the future.

From day one, innovation has been an integral part of Xiaomi's DNA. However, true innovation has never been easy to find. Each innovation requires huge investments of commitment, as well as overcoming countless setbacks, misunderstandings and criticisms. The more we understand this point, the more we count our blessings. We are grateful for everyone's understanding, trust, encouragement and support!

We believe that the best way to express our gratitude is to keep doing what we can. We will relentlessly build amazing products to prove our sincerity to Mi Fans around the world. We will continue to improve our company, to prove our sincerity to our employees and investors. Our stock will start trading in poco, and this will be a new beginning for Xiaomi.

Thanks to all once again! Thanks!"

 

Emanuele Iafulla
Emanuele Iafulla

Nerd, Geek, Netizen, terms that do not belong to me. Simply myself, technology lover and provocative as Xiaomi does with his products. High quality at fair prices, a real provocation for the other most famous brands.

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