Millet valuation in the end geometry? Why CDR delayed? Lei Jun sky price incentives reasonable? ... At the IPO conference held on Saturday, Lei Jun and six executives to face the sharp questions related to the listing of Xiaomi. This super independence Horny Beast has confirmed that it will be listed in Hong Kong on July 9, but there is no timetable for when to restart the CDR.
About Xiaomi's valuation
'Millet is a new species'
On the morning of June 23, Lei Jun, dressed in a suit and with a smile on his face, showed up with a group of senior executives at the Four Seasons Hotel in Hong Kong. The video of a queue of millet rice noodles in the rain in rice opened as a starting point. Lei Jun talked about Xiaomi. Why is the product popular? 'Actually simple, it is higher quality, half the price, we always adhere to this principle to make products.'
But the industry's most concerned about the business model of Xiaomi, Lei Jun gave a new answer this time. He said that he does not entanglement millet is a hardware or Internet companies, more concerned about the millet is not a unique company, it is a new species. 'Millet is rare in the world, capable of both hardware and electricity suppliers, and can also be an all-around enterprise for the Internet.' Lei Jun said.
With regard to the valuation of Xiaomi's listing, Xiaomi CFO said in the week that Xiaomi never said how much he valued. Xiaomi could not comment on his own valuation. In the past few months, the market itself has hyped itself. He said that investors should Two dimensions to evaluate Xiaomi: First of all, it is not necessary to confuse Xiaomi with whether it is a hardware company or an Internet company. In fact, Xiaomi is a “rare” company in the market that can both be a hardware company and an Internet company. It will give a premium; secondly, Xiaomi’s business is in a period of rapid growth, and the market opportunities are also very large. In addition to the continued growth of the mobile phone market, new categories are also expanding, plus the expansion of the international market, while Xiaomi is Efficient and cost-effective route to maintain sustained growth.
About Lei 9.827 billion equity incentives
'Lei Jun completely unaware'
Another focus of attention is that Lei Jun recently obtained an equity incentive of 9.827 billion yuan. The China Securities Regulatory Commission also asked questions.
In this regard, Xiaobin co-founder Lin Bin explained that the Board of Directors' incentive for the equity of the chairman and CEO before the listing is actually a practice. Xiaomi is not the first and will not be the last company. He stressed that this matter is completely in Lei Jun. Without the knowledge of the situation, several directors met and everyone in the meeting unanimously agreed to the decision.
“This is also the recognition and gratitude of everyone for Ray, who has been working with the team for the past eight years, starting Xiaomi from scratch, and at the same time also changing the efforts made by the Chinese manufacturing industry. All of our directors feel that they deserve it. '
About postponing CDR issuance
'Restart CDR no timetable'
Why did Xiaomi postpone the issuance of the CDR? In response to this issue, Xiaomi CFO Weekly said that there is no disagreement between CDR Xiaomi and the China Securities Regulatory Commission. 'After repeated discussions, we first applied for listing in Hong Kong to ensure the success of the CDR pilot. At the right time, the CDR will be used to achieve the listing in mainland China, which is also recognized and supported by the China Securities Regulatory Commission. 'While as to when Xiaomi restarted the CDR in Mainland China, Zhou said that there is no timetable for the time being.
According to the latest news, Xiaomi’s IPO price range is between HK$17 and HK$22 per share. It is planned to issue 2.179 billion shares with a financing scale of 4.72 billion to 6.109 billion U.S. dollars. This adjusted millet’s total market value is approximately 55 billion to 70 billion U.S. dollars.
It is reported that during the roadshow of Xiaomi IPO, the institutions subscribed to actively participate in the subscription on the first day and the underwriting amount of the underwriters was oversubscribed. A group of top entrepreneurs personally placed orders. Li Jiacheng, Ma Yun, Ma Huateng, and Cai Wensheng were all said to have issued orders. We all under individual identity under a single millet IPO, ranging from tens of millions to hundreds of millions of dollars. The previous prospectus shows that the millet has introduced seven cornerstone investors, including China Mobile, Qualcomm, Poly, Shunfeng and so on.
The exact time that Xiaomi is listed on the market: July 9th. The IPO will be conducted from June 25th to June 28th, and will be priced on June 29. The stock code of Xiaomi is: 1810, which means that it will be listed in 18 years and be established in 10 years.