Smartphone and connected device maker Xiaomifiled for a Hong Kong initial public offering on 3 May, in what is expected to be one of the largest listings by a Chinese tech company in nearly four years.
The Chinese smartphone maker is taking advantage of changes in Hong Kong that mean companies with different share classes can now list in the city.
To compete with regional bourses, Hong Kong pushed through rules to let pre-revenue biotechnology firms and technology firms with multiple classes of stocks sell equity. It posted a net loss of 43.9 billion yuan ($6.9 Billion) in 2017, reversing from a profit of 491.6 million yuan a year earlier.
The listing documents offered a glimpse of Xiaomi's finances, with the company reporting that revenue rose by two-thirds previous year to 114.6 billion yuan ($18 billion), including 80 billion yuan from its smartphone division.
The company booked sales of 114.6 billion RMB ($18 billion) in 2017, up from 68.4 billion RMB in 2016 and 66.8 billion in 2015. The company shipped 28 million handsets from January through March compared to 14.8 million delivered in the same quarter a year ago.
Lei Jun and Xiaomi co-founder and vice president Lin Bin will both hold the more powerful class A shares, according to the IPO application. The WVR give greater power to founding shareholders even with minority shareholding.
In India, Xiaomisaid, it has leveraged its number one position to expand and monetize its user base.
At its height, it raised $1.1 billion in venture capital and became the world's most valuable startup. Xiaomi, which initially had an online presence, opened hundreds of retail stores and also its strong growth in the home market and India were major factors for its resurgence.
He personally took charge of the supply chain and ramped up investments in dozens of businesses that made everything from fitness monitors, luggage, water purifiers, rice cookers and personal scooters.
Xiaomi's IPO document unveiled many of its financial numbers for the first time.
The tech firm is also expected to issue Chinese depository receipts (CDRs) after it goes public.
Founded in 2010, Xiaomi was the fifth biggest smartphone maker in the world a year ago, shipping more than 92 million devices, according to research firm IDC. Currently, it said it sells products in 74 countries, that does include the US where Xiaomi sells accessories and non-phone items.
"Xiaomi has more exposure to global expansion opportunities right now".
First-quarter shipments more than doubled to 27 million units, giving Xiaomi 7.5 per cent share of the global market, according to Counterpoint Research data.
$1.44 EPS Expected for EQT Midstream Partners, LP (EQM)
Goldman Sachs Group Inc increased Wipro Ltd (NYSE:WIT) stake by 71,649 shares to 563,155 valued at $3.08 million in 2017Q4. Arclight Capital Partners Llc holds 20.14% of its portfolio in American Midstream Partners, LP for 13.98 million shares.
Avengers: Infinity War is one of those flicks that you need to see twice to understand the psyche of the makers at Marvel. Final weekend numbers will be released on Monday. "He tweeted: " 'Avengers: InfinityWar" smashes records.
The suspect believed to have shot and killed Cpl. "Gene Cole, and he was brought to justice using Cole's handcuffs". The community of 3,500 had been nervous since scores of police officers poured into the region during the manhunt.
Tuesday will be a attractive day with mostly sunny skies and highs near 80 degrees! Some 80 degree readings are even possible. Clouds then return Friday evening with a better chance for some passing showers as a cold front sweeps through the area.
Sunrisers Hyderabad , who went on to win the match by 31 runs, are now standing at the third spot with four wins from six matches. After batting first Hyderabad managed to score only 118 runs, with Kane Williamson and Yusuf Pathan scoring 29 runs each.
That was the slowest pace since the second quarter of 2013 and followed the fourth quarter's robust 4.0 percent growth rate. The initial reading indicates the US economy expanded at a 2.3% annual pace in the first quarter of 2018.
Friday's heavily redacted report contained new surprises because a summary of the panel's conclusions was made public last month. The panel also recommended the executive branch "crack down" on leaks by conducting polygraphs.
On Tuesday, Meghan and Harry announced the performers who will be on hand for their ceremony at St George's chapel. Mr Kanneh-Mason revealed Meghan called him personally to ask him to perform on the big day.
A Spoiler-Free Review of Avengers: Infinity War
The smallest characters might end up being the Avengers only hope in stopping Thanos from collecting the Infinity Stones. I can't say what occurs, but needless to say, it will be interesting to see how they go about following it up.
World Press Freedom Day rally in Kathmandu
The freedom of expression was enshrined as a human right under the Article 19 of the 1948 Universal Declaration of Human Rights. Too often, they lose their security, their jobs, their freedom, wellbeing and even their lives in doing so.
Package deal: Rudolph, Washington heading to Pittsburgh
Rudolph is very familiar with Oklahoma quarterback Baker Mayfield, who went to the Browns with the No. 1 overall pick. Rudolph will get to prove himself alongside his former teammate at Oklahoma State, James Washington .
Ronald Acuna called up to Major League Baseball by Braves
Acuna, 20, shot up through the minors last year, beginning the year in Single-A and finishing with the Triple-A Gwinnett Braves. The losing pitcher was Shackelford (0-1), who allowed the tying run to score in the eighth and put two runners on in the ninth.
E. Coli outbreak tied to romaine lettuce gets worse
Forty-six people have been hospitalized, including 10 with kidney failure, which is an unusually high number of hospitalizations. If you already have store bought romaine lettuce in your fridge, the CDC said you're better off not eating and throwing it away.
Toronto van attack: What is an 'incel'?
Flowers, cards and messages of sympathy cover a makeshift memorial for the 10 victims of Monday's van attack in Toronto . Police also said those killed and injured were "predominantly women," but didn't offer further details.
WhatsApp set to ban people younger than 16 in Europe
The company has said that providing false information violates its terms, and users can be banned as a result. It said: "Our goal is simply to explain how we use and protect the limited information we have about you".
Where do the Philadelphia Flyers go from here?
Other Penguins with multi-point games were Letang (three assists), Hornqvist (one goal and two assists) and Kessel (two assists). From there, Guentzel took over, scoring three consecutive goals to open the third period to help the Penguins take a 7-4 lead.
Man Takes A Nap In Taylor Swift's New York Home During Break
Alvarado, who lives in Homestead, Fla., was arrested and charged with stalking, burglary, criminal mischief and trespassing. Sandrock had reportedly driven from his home in Colorado to Swift's home but she was fortunately not there at the time.