Xiaomi finally sent a prospectus to China Depositary Security (CDR) to be listed on the stock exchange. This initiative has attracted great attention from the world. The listing will make their data more transparent. According to the latest report submitted by Xiaomi, its revenues for the first quarter of 2018 reached an incredible 34.412 billion yuan ($ 5.3 billion).
Xiaomi formally presented a prospectus
As of March 2018, MIUI had more than 190 million active monthly users, and the average time that users use Xiaomi mobile phones every day was approximately 4.5 hours. In the first quarter of 2018, Xiaomi’s Internet service revenue was 3.231 billion yuan ($ 504 million), the gross profit was 2.119 billion yuan ($ 328 million), so the gross profit margin it reached 65.58%.
Lei Jun is the one who makes the decisions of the company
According to the prospectus presented by Xiaomi, Lei Jun is the principal executive controlling company. As of the date of this prospect’s subscription, Lei Jun has the right to vote Class A, but Smart Mobile Holdings Limited holds common Class B shares. Smart Player Limited represented 55.7% of the total voting rights of the shareholders of the company. According to the entrustment agreement of voting rights signed by other shareholders of the company and Lei Jun, Lei Jun as trustee can actually control another 2.2% of the voting rights, which gives him total control of 57.9% of the rights of vote. Taking this into account, Lei Jun is the executive director, president, and CEO of the company. Therefore, Lei Jun is the one who really controls the company and Smart Mobile Holdings Limited / Smart Player Limited controlled by Lei Jun are the main shareholders of the company.
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