Caixin
Caixin Global – Latest China News & Headlines

Home >

ABOUT US

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.

LATEST
SMIC Profits Soar to $138m in Second Quarter
Foldable Phone-Maker Plans Shenzhen IPO, Dispelling Rumors of U.S. Listing
Astra Inks Oxford Vaccine Production Deal with China’s Kangtai
Trending Story: Are Any New Graduates Really Worth 2 Million Yuan a Year? Netizens Discuss!
Trending in China: Popcorn or Cheaper Tickets - What Would Make You Return to the Cinema?
Tesla Challenger Xpeng Raises $400 Million Before Planned U.S. IPO
CATL Announces it Will Supply Batteries for Mercedes-Benz New Electric Sedan
TikTok Sees No Slowdown in Global Popularity Despite Indian Ban and U.S. Threats
Baidu Search, Sina Weibo on ‘Secret List’ of Chinese Apps Banned in India’s Latest Purge
Trending in China: Choosing a College Major - For Love or Money?
Evergrande Health Forges Ahead With Six New Electric Vehicles
Trending in China: How Cute Rabbit Ears Are On the Frontline in Fight Between Delivery Firms
Chinese Company Files Lawsuit Against Apple’s Siri for Patent Infringement Worth Billions
China Home to Six of the World’s Top 10 Unicorns, Hurun Report Says
Trending in China: Can Music Streamers Help Users’ Depression?
Core Parts of China’s Beidou Satellite System ‘100% Made in China’
Trending in China: Xiaomi CEO’s Shows How Best To Harness China’s Social Media Humor for Serious Business
Apple Takes Down Over 30,000 Apps from China Store Amid Government Crackdown
Chinese Chipmaker SMIC to Establish Joint Venture for Wafer Production
Microsoft Said Plan to Acquire TikTok Will Continue
Investors Give Cold Shoulder to Upbeat Xiaomi Earnings

By Mo Yelin and Qu Hui / Aug 21, 2019 01:19 PM / Business & Tech

Investors are responding tepidly to Xiaomi’s upbeat second quarter earnings report.

The price of the company’s Hong Kong-listed stock dropped 5% to HK$8.95 ($1.14) as of 11 a.m. Wednesday, giving the 9-year-old tech firm a market cap of HK$214 billion.

On Tuesday, Xiaomi released its earnings for the three months ending in June. During the three-month period, its revenue rose 15% to 52 billion yuan ($7.4 billion), while adjusted net profit surged 72% to 3.6 billion yuan.

The Chinese electronics-maker has had a bumpy ride since its IPO last July — its current stock value is just over half of its listing price of HK$17.

Read the full story on Caixin Global today.

Related: In Depth: A Year After It Went Public, Investors Aren’t Buying the Xiaomi Story

Share this article
Open WeChat and scan the QR code