Caixin Global – Latest China News & Headlines

Home >


CX Tech is Caixin Global's real-time tech news portal, featuring 24-hour news, short-form analysis, and roundups from business and tech media in China.

Tesla Says Any Data It Collects in China Is Stored in the Nation
Medtech Startup StoneWise Raises $100 Million to Promote Use of AI in Drug Development
Plus Accelerates Uptake of its Autonomous Truck Tech with Italian IVECO Deal
Trending in China: Farmer Given Suspended Jail Time For Felling Own Trees – Social Media Chimes In
‘Tickets Please!’ Baidu Allowed to Charge for Robobus Service in Chongqing
Didi Reportedly Looking to List in U.S. as Soon as July
China’s NEV Sales Balloon in First Quarter on Strong Demand from Individual Consumers
Honor of Kings Beats PUBG Mobile as World’s Highest-Earning Mobile Game in March
Didi to Expand New Logistics Service From 8 to 19 Cities in China
China’s Li Auto Raises $750 Million Through Bond Sale to Fund Electric Car Development
Plant-Based Food Firm Beyond Meat to Open Plant Based in China
iFlyTek Hopes to Cash in on Pandemic Driven Demand for AI Services and Devices
Joint Alibaba and Russian Online Retailer AliExpress Plans IPO as Early as 2022: Report
Trending in China: ‘Easy to Buy, Hard to Redeem’ – Airline Pandemic Related Coupons Under Fire
Tesla Counters Spying Concerns Saying Car Cameras Not Activated Outside North America
Reinventing In-Car CB Radio or Cutting-Edge Tech? Clubhouse-Like Features Built into Xpeng Cars
Smart Projector and Laser TV Startup Xgimi Predicts Big Profits
Trending in China: Speculators or Trading Apps — Who’s to Blame for $7,000 Sneakers?
Nio and Xpeng Both Set Quarterly Records But Still Lag Behind Tesla
Call of Duty Mobile Developer Outplays Games Publisher as Timi Studio Earns More Than Activision Blizzard
Sluggish Stocks Deepen Disappointment for Xiaomi

By Hou Qijiang, Qin Min and Mo Yelin / Jul 30, 2019 12:52 PM / Business & Tech

Photo: VCG

Photo: VCG

Xiaomi was a big disappointment when investors valued it at just $54 billion following its first trading day in Hong Kong last July — far below the $100 billion some had expected for the world’s No. 4 smartphone maker.

One year later, that disappointment has only gotten deeper as Xiaomi struggles with a sluggish stock performance that shows no sign of easing.

Xiaomi’s shares plunged in January when a six-month lockup period ended, wiping out $14 billion in market value. The stock now trades at around HK$9 ($1.15) — just over half of its listing price of HK$17 — with a market value of $27.5 billion.

Xiaomi has been dogged by stiff competition in a global smartphone market that has contracted in six consecutive quarters following years of breakneck growth. Typical of recent trends, shipments fell 6.6% in this year’s first quarter, according to industry tracker Canalys.

Read the full story on Caixin Global later today.

Contact reporter Mo Yelin (

Related: Apple, Xiaomi Sales Shrivel in China’s Shrinking Smartphone Market

Share this article
Open WeChat and scan the QR code