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Alibaba Has Big Plans for Taobao’s Livestreaming Hawking Business
Xiaomi Extends Reign as India’s Smartphone King Despite Slipping Market Share
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

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