Xiaomi’s stock price has been below its issue price for two year: Lei Jun

Xiaomi officially released its latest flagship, Mi 11 smartphones with many premium features. These smartphones are the company’s first to use Qualcomm’s Snapdragon 888 SoC.

At the press conference, Xiaomi’s founder, chairman, and CEO Lei Jun said: Xiaomi went public more than two years ago, and its stock price has been below the issue price for two years. “To be honest, it’s a shame to say it. It’s a very depressing thing in the year.”

On July 9, 2018, Xiaomi was listed on the main board of the Hong Kong Stock Exchange under the name of “Xiaomi Group”, becoming the first listed company to adopt a WVR structure after the reform of the Hong Kong Stock Exchange’s listing system. On the first day of listing, Xiaomi’s share price immediately fell below the issue price of HK$17. In September 2019, Xiaomi’s share price fell to 8.28 Hong Kong dollars per share.

On July 10 this year, Xiaomi’s stock price returned to the issue price. Since then, Xiaomi’s stock price has been rising. As of yesterday’s close, Xiaomi Hong Kong stocks were quoted at HK$31.15. Calculated at HK$10.36 on December 27, 2019, Xiaomi Group’s increase this year was exactly 200%.

The world’s first Xiaomi Mi 11 is equipped with a Qualcomm Snapdragon 888 chip, using a 6.81-inch 2K four-curved AMOLED screen, and the starting price is 3999 yuan. In addition, Xiaomi’s mobile phone shipments in the third quarter increased by 42% year-on-year to 46.5 million units, with a market share of 13.1%, surpassing Apple, and returning to the top three in the global smartphone rankings after a lapse of 6 years. This is the reason why the market value of Xiaomi Group has been rising.

(Source)