Xiaomi company Yunmi will land on NASDAQ today. On August 29th, Xiaomi company Yunmi submitted an IPO application file to the US Securities and Exchange Commission, and plans to list on NASDAQ, with a proposed financing of up to US$150 million.
The proceeds from the Yunmi financing will be used for research and development, sales and marketing plans, potential strategic investments and acquisitions, and general corporate purposes. As of June 30, 2018, Yunmi net revenue was 1.04 billion yuan, compared with the same period last year. Compared with 270.60 million yuan, it has increased by 284%. In 2017, Yunmi's net revenue was 873 million yuan and its net profit was 18.919 million yuan.