Chinese smartphone maker Xiaomi filed documents Thursday with Hong Kong's stock exchange operator for an initial public offering that could be the world's biggest share sale in years.
Revenue however surged 67.5 percent to 114.5 billion yuan a year ago.
Xiaomi, reporting detailed financials for the first time, posted a net loss of 43.9 billion yuan ($6.9 billion) in 2017, reversing from a profit a year earlier. The company has apparently invested heavily in the past year leading up to the IPO. In an open letter reminiscent of Google's own pre-IPO manifesto, Lei pledged to transform Xiaomi into more than a hardware company and again promised to cap its hardware profit margins at 5 percent - returning any excess to its users. The numbers underscore how Xiaomi has remained resilient even as the global smartphone market has slowed, helped in part by a push overseas into markets like India.
Xiaomi CEO Lei Jun has steered his company to possibly the world's biggest IPO since 2014.
Joel Embiid On Game 1 Loss: "I Thought I Was Shitty"
Chamberlain, my pick as the GOAT over Lebron, Michael Jordan and whoever else you care to mention, was an offensive force. Consistency is always the biggest problem with the young talent on the Celtics , and that is the biggest problem.
After a challenging few years that saw a decline in smartphone sales, Xiaomi doubled down on offline retail with the opening of more than 200 Apple-esque retail stores across China while also branching into a wide product range of dirt-cheap internet-connected devices.
The company is now at the fourth position in the smartphone market globally, behind Samsung, Apple and Huawei. Armed with the new rules allowing the listing of companies with dual-class structures, Hong Kong is eyeing several tech listings that are expected in the coming two years from Chinese firms with a combined market cap of Dollars 500 billion.
It could be the biggest IPO since Alibaba's US$25 billion debut in 2014, and might be the first IPO when IPO applications under dual-class shares structures were accepted starting April 30. Two Chinese biotech companies said they would switch their New York IPOs to Hong Kong to raise US$800 million, Reuters reported last week.
Founded in 2010, Xiaomi first shot to prominence in China thanks to its tactic of selling nearly all of its phones online at razor-thin profit margins. It has enlisted Goldman Sachs, CSLA and Morgan Stanley for its proposed listing.
Elections in 2014 were disputed, resulting in rival governments backed by competing military alliances in Tripoli and the east. A group of militants, including at least two suicide bombers, stormed the building and set fire to it.
Very windy, with a south wind 22 to 27 miles per hour increasing to 31 to 36 miles per hour in the afternoon. Clouds decrease for Saturday as the high temperature stays at 66 degrees and the low falls to 44 degrees.
Instagram Stories already offers a number of handy recording features, such as stop-motion, Boomerang and super-zoom. First and foremost is video calling, which is now in a testing phase and will roll out globally in the coming months.
The Pelicans' shooting guard Jrue Holiday said that he does what he can to play his best but ultimately, it's all in God's hands. Davis is one of the five best players in the National Basketball Association , so Looney's Game 1 success won't be sustainable.
Along with the new authorization, the Board of Directors has also approved a 16% increase in the company's quarterly dividend . HomePod sales weren't broken out and neither Cook nor CFO Luca Maestri had much to say about Apple's new smart speaker.
Both Moon and Kim agreed to cease their audio battle as part of a three-page joint declaration signed by the leaders Friday . South Korean President Moon Jae-in has said Trump should receive the Nobel Peace Prize, the Republicans' letter noted.
While exact amounts will highly depend on the placement of thunderstorms, widespread rainfall amounts of 1-2 inches are expected. Some communities that will likely have to contend with a threat of severe weather include Oklahoma City , Topeka and Wichita.
The teenager has also become one of the youngest players to reach the Barcelona final, only beaten by Nadal who was 18, in 2005. Greek 19-year-old Tsitsipas stormed into his first ATP final by beating Spain's World No. 11 Pablo Carreno Busta 7-5, 6-3.
If you don't want to invest 75 hours into Fortnite Battle Royale to unlock all of these levels you can buy your way to the top. This area is strewn with Hop Rocks and a new industrial complex as the mysterious rocks are investigated.
For three years Penny was stuck behind Donnel Pumphrey, the all-time FBS leading rusher , on the San Diego State depth chart. After two years as a defensive end, Dissly made the switch to tight end his junior and senior years for the Huskies.
City up for three April Premier League awards
Manchester City have played free flowing football throughout the season and this match was no different from that. They were excellent and we didn't defend as well as we have done against the other big teams this season'.
Oculus Go Standalone Headset Now Available For $199
The company opened F8 with CEO Mark Zuckerberg debuting the Oculus Go onstage in San Jose, California. Battery life is claimed to last between 1.5 and 2 hours of gaming, 2 and 2.5 hours for video viewing.
Tick, flea and mosquito-spread diseases more…
Some topics include cancer, HIV/AIDS, prescription drug overdoses, antibiotic resistance, suicides, asthma, and global health. Petersen said the agency is using two strategies to better prepare the organizations to prevent and control the threats.
NSYNC Reunite on Hollywood Walk of Fame
The band has sold more than 28 million albums, EPs and singles, according to the Recording Industry Association of America . Though Bass had NSYNC's popularity back then, what he didn't have was strength during the time to truly reveal who he was.