According to Bloomberg News, Xiaomi contacted CITIC on the CDR issue and planned an IPO in May. Earlier, the Hong Kong Economic Times reported that Xiaomi is expected to become Hong Kong's first listed company with 'shares of the same stock'. Reported that Xiaomi is basically ready and will The Stock Exchange will publish the final puzzle of the listing system consultation results next week. It will submit applications for listing in Hong Kong as early as the beginning of May, and then consider listing matters in the CDR in the Mainland.
Xiaomi declined to comment on CDR and IPO issues in Hong Kong.
Hong Kong Media reported that Xiaomi had no shortage of pre-IPO shareholder sales activities in recent months. The selling price indicated that the company's valuation ranged from US$65 billion to US$70 billion. Previously, there were several millet valuation versions, such as 100 billion yuan. U.S. dollar, even US$200 billion, Miller did not comment.
Regarding CDR issues, previous media reports said that the supervisory authorities have recently been studying together with market institutions the possibility of accepting BATJ and other high-quality overseas listings in the CDR (Chinese depositary receipts) system to return to the domestic capital market.
At present, the Internet company’s A-share listing faces institutional obstacles such as profit requirements and VIE structure, etc. Most of the Chinese stocks returning to A-shares are delisted from US stocks before returning to the A-share market to queue up IPOs or Listed on a backdoor basis. CDRs are China Depository Receipts, which means that listed companies in overseas countries (including Hong Kong, China) will entrust some of their issued shares to local depository banks, be issued by depository banks in China, and be listed on the domestic A share market. , Settlement in renminbi transactions, investment vouchers for domestic investors to buy and sell in order to realize the trading of stocks in different places.
According to insiders, the highest level of the China Securities Regulatory Commission had interviewed Lei Jun. He believes that Xiaomi is currently relatively mature and hopes to return to the A-share market. Some brokers believe that Xiaomi is most likely to adopt the Hong Kong stock market and CDR.
After experiencing a downturn in 2015 and 2016, Xiaomi’s re-emergence in 2017 was considered to be a good IPO time point.
In early 2017, Xiaomi’s chairman and CEO Lei Jun set a goal of shipping 70 million units with a revenue of over 100 billion yuan. Xiaomi realized this goal in October 2017.
For 2018, Lei Jun set a shipping target of 100 million units. He also proposed that Xiaomi would enter the Fortune 500 in 2018 and ranks 500th in the 2017 Fortune Global 500 Ranking of AutoNation. Revenue was US$21.608 billion, which was approximately RMB 143.4 billion. This means that Xiaomi’s revenue target for 2018 may be around RMB 14 million to RMB 150 billion.