Chinese company Xiaomi, a smartphone manufacturer, has been shocked before entering the stock market. In the first quarter of the year, the company has reported the net loss of $ 109 million, the company said.
According to the Reuters report, according to the information of the Xiaomi draft, the total loss of 438 million yuan net in 2017 has fallen.
Xiaomi said that if the one-time expiration was withdrawn, the net profit of the company was 104 billion yuan, in the year 2017 the net profit of the company was 390 million yuan.
With the increase in sales in the country, the company’s smartphone sales increased 88 percent, in the first quarter, the organization’s earnings increased to 530 million US dollars or 34 billion yuan. In the previous year, the company’s earnings were 11460 million yuan.
Xiaomi is going to name the stock market soon. But the document has not yet released the number of funds collected or the number of shares mentioned in the document.
One source said that Shi’oomi is expecting to raise US $ 1000 million in Hong Kong IPO, which is the highest IPO listing in around four years worldwide.
The person further said that the company will sell up to 30 percent of the shares to its own country in China.
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