(Original title: Xiaomi or A shares and Hong Kong stocks will be listed simultaneously!)
Author | 旸 soup
Report | Investment Community PEdaily
Second only to AliTencent, Millet is expected to become China's third largest technology stocks
Earlier, according to the media, "All-weather Technology" reported that they received a millet Pre-IPO financing program shows: At present, the underlying valuation of millet assets of 54 billion US dollars, a conservative market capitalization of 100 billion US dollars after the listing. Another argument is that Lei Jun Millet set a $ 200 billion target, and approved by the investment bank. Media sources, the current millet IPO event, investment banks Morgan Stanley, JP Morgan Chase have been admitted.
The valuation of one hundred billion US dollars means that once it is real, it will become the largest listed technology company since Alibaba went public in the United States in 2014.
BATJ, as of press time, Alibaba market value of about 477.194 billion US dollars, the value of 410.463 billion Hong Kong dollars Tencent, Jingdong worth about 671 billion US dollars, Baidu worth about 876 billion US dollars, that is, the market value of millet after the listing is likely to exceed Baidu and Jingdong, to become second only to Tencent, Ali's third-largest technology stocks in China.
Millet IPO sparked the concern of the global capital markets, in the country, behind the VC / PE is also looking forward to a long time. From 2010 to 2014, Xiaomi has completed 6 rounds of financing with a large number of investors, including dozens of VCs such as Morningstar, Qiming Venture Capital, IDG Capital, Temasek Holdings, DST, GIC, Magnolia Investment and Yunfeng Fund / PE institutions (investment sector tabulation below).
However, it is unknown at this moment whether the entire Xiaomi Group or some of its businesses are listed. According to public information, millet 2017 Q3 profits of 400 million US dollars, in addition, millet ecological chain sales in 2017 exceeded 200 billion yuan.
Millet counterattack to win the battle, Lei Jun or will become China's richest man
The investor community learned in the eye that Lei Jun held a 77.8% stake in Xiaomi Technologies, a unit of the Xiaomi Group, and Li Wanqiang accounted for 10.12% of the total shares. Some people say that millet listed Lei Jun will become the new richest man.
Founded in 2010, Xiaomi has changed the rules of the game in China's mobile phone industry to create a miracle.
From 2015 onwards, millet performance suffered a decline, by 2016 the momentum has become more apparent, both shipments and market share fell. Millet once fell to the altar.
However, in 2017, the 48-year-old Lei Jun turned the tide and led Xiaomi to a "Jedi Counterattack" battle of life and death. "No company in the world can successfully counterattack after sales decline, except for millet." At the beginning of 2017, Xiaomi 6 was released and Lei Jun announced that Xiaomi will have to enter the small target of 100 billion annually. This was not easy for millet at the time, but it was already achieved in October.
In fact, from the second quarter of 2017, millet mobile phone shipments began to significantly improve, and continuously create a new high single-quarter shipments. IDC report shows that in the fourth quarter of last year, millet mobile phone has risen to the fourth in the world. With the overall market declining 6.3%, the sales volume of millet phone contrarian increased by 96.9% over the same period of previous year, making it the only mobile phone brand that is still growing.
Millet phone sales in the global counter-attack, mainly due to the Chinese market and the Indian market. Especially in the Indian market, Xiaomi has completed its sales target of 1 billion and won the championship in Q4 2017. Market research firm Canalys data show that the fourth quarter of millet shipments in India in the market was 8.2 million, a market share of 27%, surpassing Samsung's 7.3 million shipments. In addition, millet also entered the Russian, Spanish market.
It can be said that millet selection at this point in time is actually very smart, it has reversed the trend, momentum, and the Lei Jun also willing to change strategies, such as the layout of the line to expand the international market, Xiaomi is looking to rely on IPO fund-raising to kill emerging The market, just the investment community is also excited about the rapid growth of their sales.
Of course, there will be many investors skeptical, after all, millet is a small profits but quick turnover of the company, the sale of cheap hardware facilities, hoping to rely on the software ecosystem to profit later.
It is also trying to perfect its ecological chain. As of June 30, 2017, there are already 89 enterprises in the ecological chain of Xiaomi, getting closer and closer to the 100 targets of the Lei Jun Army. After three years of layout, a number of eco-chain enterprises invested by Xiaomi have performed well in the market. One of Xiaomi's ecological chains, Hua Mi, has landed on the NYSE on February 8 and successfully listed.
China's capital market is reaching for the next BAT!
Just passed in 2017, the number of the world's IPO and the amount of funding have risen sharply, becoming the most active in nearly a decade, the rhythm of this wave has also been China's A-share and Hong Kong stock market firmly grasp the A-share last year A total of 436 IPO, the HKEx a total of 174 new public companies.
However, the absence of the giant IPO made the transcript of US-China slight deficit reminiscent of the numerous investors in Ali, Baidu and Jingdong that "left their homeland" and capital markets.
Fortunately, this situation is changing, and the Chinese capital market is ready to leave the next BATJ in the country!
Hong Kong stock market, a week ago, for outsiders concerned about the unprofitable biotech companies, shares with different rights to structure how companies listed in Hong Kong, the HKEx gives detailed program details. Since the end of last year, the Hong Kong Stock Exchange's "Common Stock Diversified Rights" policy has been stirring up people's hearts. After Alibaba was rejected by Hong Kong stocks because of its equity issue, the proposal of this policy means that the Hong Kong Stock Exchange will move forward A big step.
Indeed, Hong Kong's capital markets are extremely chasing after the IPO of technology stocks in tier-one and tier-two echelon. Once the new regulations are implemented, they will open a gate to a large number of technology innovation-type enterprises in the Mainland and will initially apply for IPO in the inter-company shareholding companies in April.
In the first year of 2018, the upsurge of going to Hong Kong to be listed on the market is urgent to be exploded. Hunting, mapping, fast hand, Lu Jin Suo, Dou Yu, Tencent Music ... a large number of companies preparing for IPO, and the ambiguous Hong Kong stocks did not stop , I do not know who will be the next investment in Hong Kong stocks will be.
The other end, A shares are also driven by many forces of IPO optimization and reform. Into 2018, just a month of "reform of the listing system", "increase the system of inclusiveness" and so on have been mentioned many times, the Commission on January 31 disclosed in 2018 the contents of an instant detonated, "A shares are expected to usher in BATJ" topic.
System reform means to a great extent that Internet companies and other fields such as smart manufacturing, biomedicine and eco-environment that are in line with the national strategy are expected to receive special institutional support. More than one path, IPO, mergers and acquisitions and reorganization, and even the opening of fast-track, all roads lead to Rome, the capital market will embrace these new areas of all outstanding enterprises.
Yesterday several media broke the news, the Commission opened IPO fast track, including biotechnology, cloud computing, including the four industries, if the "Unicorn" business customers, immediately report to the issuance department, in line with the relevant provisions can be implemented That newspaper trial, do not line up, VIE architecture will not become an obstacle to the newspaper trial.