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Dong Mingzhu would like to ask the National Audit Office to evaluate Xiaomi Lei Jun’s resignation in preparation for IPO

via:博客园     time:2018/4/13 14:01:49     readed:622

In December 2013, at the CCTV “China Economic Year” awards ceremony, Lei Jun, winner of the annual character award, said that if Xiaomi’s operating income beat Gree in 5 years, she hoped that Dong Mingzhu would lose a dollar for himself. Dong Mingzhu was on the scene. Responding to the strong, "gamble to bet 10 billion. "2018"     " Dong Mingzhu said in an interview recently that he would like to ask the National Audit Office to conduct an audit evaluation of the two companies. "This gambling contract will continue to be performed and seriously treated."

Millet “ put the satellite ”?

Dong Mingzhu would like to ask the National Audit Office to be the judge of the “1 billion gambling game”. Perhaps it is because Xiaomi’s various data growth is too alarming.

In March of this year, Beijing Commercial Daily, 36-inch media and other media quoted the WeChat public number. "Kaiyuan" broke the news that a millet's financing promotion materials show that Xiaomi's 2016 revenue is about 66 billion yuan, and it is expected to reach 1110 in 2017. Billion yuan, net profit also increased significantly.


Lei Jun’s speech at the Xiaomi press conference on March 27 confirmed the authenticity of this group of data. He said that in 2017, Xiaomi’s revenue had exceeded 100 billion yuan, and it took only 7 years to achieve this goal, while Alibaba spent 17 years and Huawei spent 21 years.


Millet's valuation also rose quickly. The interface news reporter scrutinized that in the 2011 Series A round of financing, Xiaomi’s financing was US$250 million; by 2014, when E-round financing was obtained, Xiaomi’s valuation had risen to US$45 billion. In January 2018, Xiaomi’s valuation was as high as 100 billion US dollars.

However, the financing materials exposed in March gave Xiaomi a valuation of only $68 billion. Assuming Xiaomi is listed in the fourth quarter of 2018, its market value will be between US$85.4 billion and US$135.1 billion.


What is Xiaomi preparing for listing?

While Dong Mingzhu continued to create suspense for "1 billion gambling," Lei Jun was not idle.

In June of last year and March of this year, Lei Jun left the post of Chairman of the Gathering Time (YY.NASDAQ) and Cheetah Mobile (CMCM.NYSE) respectively. The legal person paid by Xiaomi also changed from Lei Jun to the peak.

Some analysts believe that Lei Jun intensively resigned, or because the exchange audited the Xiaomi IPO application, it was necessary to inventory Lei Jun’s assets and related assets. The resignation was beneficial to the progress of the IPO and many intermediate procedures were omitted.


According to business and industry sources, even though he has resigned from various positions in succession, Lei Jun is still a legal person of 15 companies, a shareholder of 51 companies, and an executive of 128 companies. Prior to this, Lei Jun had dismissed the legal entities of 37 companies.


When will Xiaomi go public?

Millet’s listing rumors began at the end of 2014, when Lei Jun stated that it would not be listed within 5 years. At the Summer Davos Forum in 2016, Lei Jun implied that Xiaomi would not go public until 2025.

From the second half of 2017, Xiaomi’s listing rumors spread even more fiercely. In this regard, Lei Jun just said that "will be more comfortable when the business is IPO".

In January this year, Xiaomi CFO Weekly shared a picture on Weibo, and praised the users. "This is in preparation for the listing?" comments, which was interpreted by the outside world as Xiaomi 2018 IPO The default of the plan.


Wen | Xu Qiuyu, Meng Lingshen, Cai Linmin

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