Xiaomi Shares Archives - Gizmochina

Xiaomi shares jump 5% following announcement about producing own electric cars in 2024

Zohaib Ahmed — Tue, 19 Oct 2021 13:21:41 +0000

Lei Jun, CEO of Chinese smartphone giant Xiaomi, on Tuesday revealed that the company is expected to mass produce its own electric cars in the first half of 2024. The comments were made at an investor event and were later confirmed by the company.

Right after the news, Xiaomi’s shares in Hong Kong jumped over 5% (via: CNBC).

The company’s previous major announcement regarding its new venture was made back in March where it had said that it plans to invest $10 billion into the business over the next 10 years. These plans were solidified last month when Xiaomi officially registered its electric vehicle business Xiaomi EV Inc. The novel company now has 300 employees and Lei Jun himself leads the group.

The Chinese market’s potential for electric vehicles is boundless. With incentives such as almost every fifth new car registered last month being rechargeable in the country, new players have been making their way into the market, which has now gotten more crowded than ever. Recently, even Chinese search giant Baidu launched an electric car company of its own in January, hiring a CEO for the business a month later.

When Xiaomi launches its own electric cars in 2024, it will be facing competition from companies like BYD, Nio, and Xpeng as well as from the American Tesla.

BYD Qin electric car

China’s electric vehicle market has had favorable government support over the last few years which helped the industry grow. While some of that support has been reduced, the market is still growing.

Over the last few years, China’s electric car sector has benefited from favorable government assistance, which has aided the industry’s growth. That backing may have dwindled but the market continues to grow. According to market research firm Canalys, 1.9 million electric vehicles will be sold in China in 2021, up 51% year on year.

Xiaomi Vice Chairman promises to not sell additional stocks after selling $1 billion shares

Sean — Thu, 17 Sep 2020 09:03:18 +0000

Lin Bin, Xiaomi Vice Chairman and Executive Director, has pledged that he will not sell any additional shares of the company over the next five years. This move arrives after 1 billion US Dollars worth of shares were sold and is an effort to maintain the market confidence in the Chinese tech giant.

According to a CaixinGlobal report, the company recently sold shares to cash in on the surging stock price of its share’s value. It reported sales of HK$7.89 billion (roughly 1.02 billion US Dollars) through 350 million Class B shares of the company. The senior official sold shares at HK$22.55 each or about 3 US Dollars, which was a 4.23 percent discount on the company’s Monday closing price.

At the moment, Lin Bin holds about 2.4 billion shares or 9.64 percent of Xiaomi’s capital stock, which also makes him the second largest individual shareholder. In recent times, the company’s share prices have soared by almost 30 percent after it reported on an impressive growth in net profits year on year in its latest financial report.

Back in August 2019, the senior executive had sold over 41 million Xiaomi shares for three days straight. This brought in HK$373 million, which had shaken the market confidence and saw the downfall of the company’s share value. So to avoid the same trend from recurring, Lin Bin promised not to sell any Xiaomi shares for a year.

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Xiaomi buys back 6 million shares worth HKD 60 million as stock prices fall

Jeet — Mon, 21 Jan 2019 07:43:11 +0000

Last year, Xiaomi officially launched its Hong Kong IPO but the performance of the company’s IPO hasn’t been as expected. Last week, the company bought back around 6 million shares as investors are selling the shares after a lockup period.

As per the reports, the Chinese company has bought the Class B shares at an average price of HKD 9.76 (approximately $1.24), totaling nearly HKD 60 million, which roughly converts to $7.6 million. In a statement, Xiaomi said that the company’s board believes that the current financial resources of the group enable it to implement the share repurchase while maintaining a solid financial position.

It also added that its brand proposition with cost-efficient products “will be even more compelling in current market conditions.” Jin Di, longtime industry watcher and former analyst with IDC said, “Xiaomi shares have been negatively affected since the global consumer electronics market cooled in 2018, and the company intends to provide a boost to the market.”

Xiaomi’s share price slumped around 20 percent in the days preceding the expiry of the company’s six-month lockup period. The company has seen its market value nearly halve since it went public in Hong Kong last July as the smartphone market slows.

Last week, the company’s share price dropped by 3 percent following the sale of 231 million Class B shares by an undisclosed investor. Analysts believe that the company’s business performance, especially in internet services, wasn’t exciting enough and it failed to improve investor confidence.

In the year 2018, Xiaomi shipped nearly 1 billion devices. Apart from its hardware business, the company also has an internet services company, offering online music and movies to around 220 million users. It only accounted for 9.3 percent of the company’s total revenue in the third quarter of 2018.

In an annual meeting earlier this month, Xiaomi CEO Lei Jun announced RMB 10 billion (approximately $1.5 billion) investment plan in artificial intelligence (AI) and smart devices over the next five years. The company said it has confidence in its business outlook, which is driven by its smartphones and AIoT strategy — a convergence of AI and internet of things technologies.

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Xiaomi group’s stocks tumble by more than 9%, closes at HK$12.5

Simranpal Singh — Thu, 11 Oct 2018 06:13:23 +0000

Xiaomi group’s stocks tumble due to global equities sell-off in Asia. In a single day, Xiaomi stocks fell down by 9% to HK$12.5. The Chinese smartphone maker is not the only tech giant that has witnessed the drop, as even Tencent sank 7.4 percent. As of 11:53 Beijing time, Xiaomi’s decline reached to 9.16% taking the share price down to HK$12.5.

Most of the Asian stock markets are opening in red due to the US market crash yesterday in over 7 months. It has pushed the global equities to sell-off shares. In the US, stock markets experienced a drop of over 3-8% with Nasdaq dropping below 7.8% while the Dow Jones fell 3.1% in a single day. Due to the recent jump in the US interest rates, broad sell-off has been sparked.

Similar is the situation in Hong Kong and Taiwan stock exchanges. In Taiwan, iPhone component supplier Foxconn shares dropped by 6.9%. In Japan, the major tech giants fell by 4.6 percent. In India, the picture is depicting a similar story for various big companies.

Just a few months ago, Xiaomi Group’s stocks were listed at the Hong Kong Stock exchange. It made a less than impressive start on the Hong Kong stock exchange as its share price dropped to HK$16.60 (US $2.12) against the listing price of HK$17 (US $2.17).

Overall, Xiaomi has not witnessed a good start in the Stock market. Now, the global sell-off is resulting in further decline in the listing price of the Xiaomi shares.

Read More: Xiaomi Mi Mix 3 launch countdown page pops up online, listed with Snapdragon 855!

Additionally, Xiaomi is ready to launch the Snapdragon 855 powered Mi Mix 3 very soon. It has garnered over 6 million sales of Xiaomi Mi 8 in China while Redmi 5A gained sale of 10 million units in India. Many new devices are slated for launch before this year ends.

(Via)

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Xiaomi’s share price is soaring on the second day!

Jed John Ikoba — Tue, 10 Jul 2018 10:42:37 +0000

Xiaomi share price has experienced a rebound on the second day of trading, according to reports from Hong Kong. The Chinese tech giant officially listed for trading on the Hong Kong Stock Exchange on July 9 with the stock code 01810. The stock traded for HK$16.6 on the first day which was 2.35% lower than the issue price of HK$17. But today, the stock price soared higher than the issuing price of HK$17, going as high as HK$17.48. At a point, the stock price peaked at HK$17.50 and as at the time of writing it has risen even further to HK$18.34, which is 9.17%. higher than the listing price.

Xiaomi is set to be included in the Hong Kong Hang Seng Index on July 23, which is a reflection of the company’s valuation. The Hang Seng Index (abbreviated: HSI) is a free-float capitalization-weighted stock market index in Hong Kong. It is used to record and monitor daily changes of the largest companies of the Hong Kong stock market and is the main indicator of the overall market performance in Hong Kong.

Although the initial trading price was disappointing, the rise in the trading price is a positive sign that it is just not over yet. Xiaomi could still come out of this with a successful record. Perhaps, if you plan to buy some Xiaomi shares, this is the best time to do it as the prices may continue soaring higher. Despite scepticisms which affected the company’s final valuation, the company is well positioned to be a highly profitable internet company and not just a hardware firm as some view it.

(via)

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Xiaomi Shipped 28 Million Smartphones In Q1 2018, Revenues Revealed

Joel Joseph — Mon, 11 Jun 2018 10:12:03 +0000

Xiaomi is slowly inching closer towards an IPO this year and the necessary steps have already been set into motion. The company’s CDR (Chinese Depository Receipts) application revealed some important figures about the company’s financials earlier today. Let’s take a look at the key figures from this application.

Xiaomi is expected to be valued anywhere from $75 billion to $80 billion in its IPO in Hong Kong later this year. It will be the first Chinese enterprise to raise CDRs, which is usually reserved for companies in the high-tech industry. The application revealed that Xiaomi has shipped over 28 million smartphones in Q1 2018. During the same quarter, the company posted a net loss of 7.03 billion Yuan (~$1 billion).

In 2015, 2016, and 2017, Xiaomi’s revenues were 66.8 billion Yuan, 68.4 billion Yuan, and 114.6 billion Yuan respectively. Last year’s growth in revenue has been significant and some of the credit goes to the company’s shift in strategy after a less than impressive 2016. However, despite the growth in revenue, the company still posted a net loss of 43.9 billion Yuan (~$6.85 billion) in 2017.

The CDRs are expected to be issued on July 16.