Nvidia, Tesla, and the rest of Big Tech are having a rough go of it, while China's Terrific 10—Alibaba, Tencent, Meituan, Xiaomi, JD.com, NetEase, Baidu, BYD, Geely, and SMIC—are not. That raises the question: Are the Mag Seven yesterday's news and is it time to focus on their Chinese counterparts instead?
Xiaomi has raised about $5.5 billion in an upsized share sale, as the Chinese tech firm capitalizes on a surge in its stock price to help raise funds to expand its electric-vehicle business. Bloomberg's Minmin Low reports.
China's Xiaomi Corp said on Tuesday it is looking to raise an aggregate of HK$42.6 billion ($5.48 billion) via a placement in a bid to accelerate business expansion.
Xiaomi Corp. is poised to inject a substantial $5.5 billion into its ambitious electric vehicle (EV) program through an upsized share sale, sources familiar with the matter have revealed to Bloomberg.
Xiaomi has commenced a share sale to raise as much as $5.3 billion. The Beijing-based technology company is offering 750 million Class B shares priced between HK$52.80 and HK$54.60 each.
China's Xiaomi Corp is raising up to $5.27 billion in a top-up placement, according to a term sheet seen by Reuters.
Xiaomi's 4Q24 results exceeded expectations, driven by strong performance in smartphones, IoT, and EVs, solidifying its competitive moat and ecosystem. Despite positive fundamentals, Xiaomi's 70% YTD appreciation and current valuation led to a downgrade to HOLD from BUY, suggesting profit-taking or waiting for a better entry point. Xiaomi's ecosystem, bolstered by premium smartphones, IoT devices, and successful EV launches, positions it as a top tech pick in China.
Xiaomi Corporation (OTCPK:XIACF) Q4 2024 Earnings Conference Call March 18, 2025 8:30 AM ET Company Participants Anita Chan - Head, Investor Relations and Corporate Finance Lu Weibing - President Alain Lam - Chief Financial Officer Conference Call Participants Andy Meng - Morgan Stanley Timothy Zhao - Goldman Sachs Wen Hanjing - CICC Xu Yingbo - CITIC Leping Huang - Huatai Zoe Xu - UBS Operator Good evening, everyone. Welcome to the online telephone call of Xiaomi 2024.
Chinese consumer tech giant Xiaomi on Tuesday announced a surge in annual revenue, propelled by strong smartphone sales alongside a continued push into the electric vehicle sector.
China's Xiaomi reported a 48.8% rise in fourth-quarter revenue on Tuesday, boosted by strong electric vehicle and smartphone sales.
China's Xiaomi raised its full-year target for electric vehicle deliveries to 350,000, founder Lei Jun said on Tuesday in a Weibo post, up from 300,000 EVs for 2025 set earlier this year.
Chinese tech company Xiaomi 's new electric crossover SUV, the YU7, will have a driving range of up to 770 kilometres (478 miles), a government document showed on Thursday.