Chinese smartphone company Xiaomi announces disappointing stock market debut

The transition to the trading room came at a difficult time. The trade dispute between China and the United States has dropped the Hong Kong stock index by 6.5% in June, down 5.8% since the beginning of the year. The Xiaomi IPO is seen as a barometer of sentiment for other candidates such as China Tower, the world's largest mobile mast operator and the Meituan online platform operator Dianping

. Debut taken. The Hong Kong stock market recently introduced new rules to attract technology companies. Xiaomi has now attacked one of the most popular companies in the People's Republic, which manufactures not only mobile phones but also household appliances such as air purifier or rice cooker, but which is also active on the online advertising market. at the equivalent of 5.75 billion euros. In contrast, sales rose 67.5% to 15 billion euros. Xiaomi attracts customers with relatively cheap smartphones, putting Samsung Electronics and Apple under pressure. Last year, the Chinese doubled their sales and became the fourth largest smartphone provider in the world. For example, Xiaomi benefited from growth in India, more than offsetting slowing demand for smartphones in many places.