[ad_1]
Written by Rania Fazza
The course of action of Chinese smartphone maker Chaomi fell 6% at the beginning of the first trading day on the Hong Kong stock market.
The world's fourth largest smart phone company has made $ 4.7 billion (3.5 billion pounds sterling) – just over half the goal it hoped for – according to BBC News.
The company is valued at $ 54 billion, the first of many Chinese technology companies listed in Hong Kong in 2018, which represents a disappointing start to a career.
Chinese stocks have fallen recently in the wake of the US-China trade war.
The first appearance of Shauumi in circulation was the largest share of technology stocks since the Chinese technology giant Alibaba increased its turnover by $ 25 billion in 2014.
It also has been seen as an important technology list for Chinese peers to submit their initial public offering in the coming months.
These programs include the online food delivery platform, the Meituan Dianping ticketing platform and the giant Tencent Music Entertainment. Their shares on the Hong Kong Stock Exchange later this year.
But the shares of Shawomi, often called the Chinese apple, went from $ 17 in Hong Kong to $ 16 an hour in circulation, although the price recovered a little later
] Apart from its domestic market in China, Shaomi is a major company in India, where Samsung is the most popular competitor of the mobile phone manufacturers.
Last year, Shaomi moved to the Spanish market and reports that she is also looking to enter the United States to take control of Apple.
Smartphones account for 70% of Shawy's revenue, its fastest-growing segment focusing on home appliances and Internet-connected devices, including air purifiers and cookers with rice.
Although sales amounted to 114.62 billion yuan (13.2 billion pounds, 18 billion yuan) in 2017, the company announced a net loss of 43.9 billion yuan against a net profit of 491.6 billion yuan in 2016.
Xiaomei faces strong competition from Apple, Huawei, Lenovo and Samsung, as well as local phone companies Vivo and Obo.
Hong Kong shares came as Chinese stock markets were on the defensive in a context of increasing trade tensions between the United States and China.
On Friday, the United States launched the first blow in a direct trade war between the two economic giants.
In this context, the Hang Seng Standard Index in Hong Kong fell 2.7% last week and has fallen 5.8% since the beginning of the year.
Trade tensions have also affected investor confidence in China, General.
The United States of America began imposing tariffs on Chinese goods worth $ 34 billion, of 25%.
China responded by imposing a similar 25% tax ratio on 545 US products worth $ 34 billion.
The previous escalation between the two parties began some time ago with US President Donald Trump who imposed customs duties on Chinese imports of iron and aluminum and threatened retaliation with retaliation.
Trump accused China of stealing US intellectual property rights and described Beijing's trade war as the biggest trade war in economic history.
The Chinese Ministry of Commerce said: "The Chinese side has promised not to launch the first move Obliged to meet the protection of the interests of its people."
Related Headings:
Source link
