Exactly a year ago, Xiaomi went IPO at Hong Kong Stock Exchange. On its debut day, Xiaomi’s stock price dropped by 2.9%.

Many said the IPO was rushed, in expectation of a downturn in the private market. At that time, there was a rush to Hong Kong’s public market by many Chinese unicorns.

A year on, this is how Xiaomi’s stock price performance:

On the day of the IPO, Founder Lei Jun said he would make “all the investors who bought Xiaomi on its debut day double their investment value”.

It would be a long journey.

Though it is also important not to discount Xiaomi too much, as it is not the first time it faces mounting doubts.

It has been resilient.

Thanks for reading The Low Down (TLD), the blog by the team at Momentum Works. Got a different perspective or have a burning opinion to share? Let us know at hello@mworks.asia.

 

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