Xiaomi Submits CDR Listing For IPO: Racks Up Q1 34.4 billion Yuan...

Xiaomi Submits CDR Listing For IPO: Racks Up Q1 34.4 billion Yuan ($5.3 billion) Revenue For Q1 2018

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Today, Xiaomi finally submitted a listing prospectus to CDR in order for it to be listed on the stock market. This submission has attracted wide attention from the outside world. For Xiaomi, the listing will make its data more transparent. According to the latest prospectus submitted by Xiaomi, its revenue for the first quarter of 2018 hit 34.412 billion Yuan ($5.3 billion).

Xiaomi formally submitted a listing prospectus: Lei Jun’s equity is absolutely in control

In addition, the prospectus also disclosed that in the first quarter of 2018, the global smartphone market was down 2.9% year-on-year, and Xiaomi’s smartphone shipments reached 28 million units, an increase of 87.8% year-on-year. As of March 2018, MIUI had more than 190 million monthly active users, and the average time that users use Xiaomi’s mobile phones every day was about 4.5 hours. In the first quarter of 2018, Xiaomi’s Internet service revenue was 3.231 billion yuan ($504 million), gross profit was 2.119 billion yuan ($328 Million), gross profit margin reached 65.58%, and gross profit accounted for 40%.

According to the submitted prospectus, Lei Jun is the main controller of Xiaomi. As of the signing date of this prospectus, Lei Jun has a Class A  voting right but a Class B common stock is held by Smart Mobile Holdings Limited and Smart Player Limited accounted for 55.7% of the total voting rights of the company’s shareholders. According to the voting rights entrustment agreement signed by other shareholders of the company and Lei Jun, Lei Jun as the trustee can actually control another 2.2% of the voting rights which gives him a total control of 57.9% of the voting rights. Lei Jun serves as executive director, chairman and chief executive officer of the company. Therefore, Lei Jun is the actual controller of the company, and Smart Mobile Holdings Limited/Smart Player Limited controlled by Lei Jun are the controlling shareholders of the company.

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