Recently, Xiaomi frequently made headlines.
Xiaomi's "price-performance" products are many, simply said to be cheaper than the competition, such as:
Young man's first mobile phone
Young man's first notebook
Young people's first air conditioner
. . . . . .
But what I never expected was that Xiaomi’s stock was also cheaper and cheaper – it might be the first stock that the young people were stuck in.
Not only that, when Lei Jun’s teacher released new products today, he was also anxious to open up Huawei’s publicity and let go of the words “life and death, disappointment and disobedience”.
Many people say that Teacher Lei, you have changed.
Millet market value has evaporatedNearly 300 billion Hong Kong dollars
Xiaomi, known as the "first stock of young people", has been falling since the listing. If it is calculated from the issue price of HK$17 per share, it has fallen by 41% and the market value has evaporated by more than 160 billion Hong Kong dollars.
If compared with last July's high (22.20 HKD/share), Xiaomi's share price has fallen by more than 55%, and the market value has evaporated by nearly 300 billion Hong Kong dollars.
On January 9, Xiaomi Group opened 5.41%, the intraday share price fell by nearly 7%, and the trading volume also expanded simultaneously. At the close, the decline was 6.85%.
On January 10, after the opening of Xiaomi, the stock price once fell more than 8%, closing at 3.58%, closing at 9.97 Hong Kong dollars / share, setting a new low since the listing.
When it was listed last year, Lei Jun’s rhetoric at the celebration feast: “To make the investors who bought the shares of Xiaomi Company on the first day of listing doubled!”, if the first day is bought and held at the issue price of HK$17, the book The loss was 41%.
Lei Jun believes that "Millet is a rare all-round enterprise that can do hardware, e-commerce, and the Internet." "The valuation of Xiaomi should be multiplied by Apple for Tencent."
Facing the decline in stock prices andRestricted stockLifting the ban, Xiaomi released todayannouncementSaid that the company received the holdingshareholderCommitment letter, out of confidence in the company's long-term value, Xiaomi Group founder, chairman and CEO Lei Jun and other controlling shareholders, all stocks promised to remain locked for 365 days. At the same time, Xiaomi Group's senior vice president and CFO Zhou also received the same commitment.
At the same time, the announcement stated that Lei Jun received no more than 639,596,190 B shares (incentive shares) before the listing to donate to charity. This was granted by the board of directors on April 2, 2018, which recognized Lei Jun’s contribution to the company, accounting for 2% of the company’s total share capital at the time.
Why Xiaomi's share price has been plummeting for the following reasons.
1. Unblock the mountain
On January 9, 2019, 180 days after the listing, Xiaomi Group's employee stocks and early investor shares ushered in lifting the ban.
According to reports, the lifting of the ban involves more than 3 billion shares, equivalent to 19% of the shares issued by Xiaomi Group. According to Xiaomi’s public offering documents at the time, only the basic investors of the group and the pre-IPO investors who sold shares at the time of listing were counted.Lifting the banTickets including Hang Lung (0101) Chairman Chen Qizong's family Chenxing, founder Huang Jiangji, etc., have the right to sell at least 628 million shares after the half-year expiration of Xiaomi's listing.
Prior to the IPO, Xiaomi Group also implemented a generous employee stock ownership plan, which granted a total of 2.51 billion share options, accounting for 10% of the total share capital.
On July 8, 2018 (the day before the listing), Lei Jun said in an open letter: "As of today, we have more than 7,000 employees holding stocks or options. After the IPO, everyone will receive a blessing from the capital market."
He also said: "The huge success also belongs to investors who trust Xiaomi and support Xiaomi along the way. For example, the earliest VC, the first investment of 5 million US dollars, today's return is 866 times."
According to the prospectus submitted by the Xiaomi Group to the Hong Kong Stock Exchange, Xiaomi has conducted 9 rounds of financing before listing. According to media reports, Qiming Venture Capital, IDG Capital, Singapore SovereigntyfundInvestment institutions such as GIC own nearly 30% of Xiaomi's shares, and the cost of shareholdings varies from 17% to 99.9% of the offer price of 17 yuan, and the profit margin is huge.
2, the smart machine industry is not optimistic
According to IDC's previously released report, in the third quarter of 2018, global smartphone shipments totaled 355.2 million units, down 6.0% from the same period last year. This is the sixth consecutive quarter of global smartphone shipments.
According to data released by China Information and Communication Research Institute, in the whole year of 2018, the domestic mobile phone market had an overall shipment of 414 million units, down 15.6% year-on-year. Among them, 391 million 4G mobile phones, down 15.3% year-on-year.
It is worth noting that Counterpoint's 2018 Q3 global mobile phone market shipments report shows that Xiaomi's international market shipments increased by 83% in the quarter, but fell by 16% in the Chinese market.
Xiaomi's weakness in China's domestic market, the most obvious feature is the ranking of double 11 sales. From the past years, the double 11 millet has been the first place in mobile phone sales, but in 2018 double 11, whether it is Jingdong or Tmall, Glory has won the top spot and squeezed the millet into the altar.
Overseas giants such as JP Morgan Chase collectively downgraded or lowered the rating of Xiaomi. Among them, JP Morgan Chase downgraded Xiaomi to "neutral", the target price was adjusted to 10.5 Hong Kong dollars, and pointed out that "the above adjustment, equivalent to Xiaomi 2020 fiscal year 16 times price-earnings ratio, to reflect the slowdown in the growth of mainland smartphones and the Internet of Things ."
Lei Jun high-profile declaration of war Huawei
On January 10th, Lei Jun responded to the attack of the friendly merchants at the Redmi Redmi conference. "Life and death are bearish, and they will not accept it." It also said that in the past few years, friends have been imitating Xiaomi for cost-effectiveness, saying that the true price/performance ratio has nothing to do with friends, and their gap from Xiaomi is actually far away.
When introducing the quality of Red Rice Note 7, Lei Jun pointed to the competing products on the PPT and said with confidence: "Would you like to hang the glory 8X? Forget it, give them some face, then I will disassemble the scene..." ..."
After the red rice conference, Lei Jun said that the independence of red rice is to prove that it is not weaker or even stronger than that of friends. Some people say that Xiaomi is cheap but the quality is problematic. He is half-dead, and Xiaomi does not do Huawei Porsche. How much does it cost to sell a product with a facade?
When introducing the Redmi Note 7 mobile phone, why use Samsung instead of Sony's camera sensor, Lei Jun said that this is because Sony products are not in stock. Although the Sony mobile phone with Sony products was released earlier, it is not available for delivery. the reason.
Lei Jun said: "Friends are very fond of spit Xiaomi to engage in hunger marketing, saying that we are PPT mobile phones. But you see, they are not PPT mobile phones, do you have the ability to sell them in stock?"
The Tiger Sniff Network article said that compared with the friends and merchants, there are every press conference, but the name of this named surname is really rare, which makes the whole conference full of gunpowder.
This kind of atmosphere full of gunpowder smell, "I still pretend to science with me, I am anxious to someday, I also give you a pretense of science, the number of technology is not mature in the perforated screen, friends have the ability to come to the climax" . The cheers of the rice noodles and media peers on the scene broke out.
Lei Jun’s name is the perforated screen, which is the technology used by Huawei’s newly released nova 4 and glory V20 a month ago. The perforated screen technology provides a new solution for close to 100% full screen. In addition to Huawei, Samsung has also used this technology.
The fund Jun Shun will introduce the background information to you here: On January 2, Lei Jun Weibo announced that after the independence of the red rice brand, the outside world analyzed that it might follow the example of Huawei, split the glory sub-brand, and Huawei took the high-end route. Glory forces the low-end market. Xiong Jun, vice president of glory, responded that "the competition between glory and Xiaomi has long since ended, and glory has already been far ahead." "Welcome friends to follow."
In addition, Lei Jun recently had a hot search for another thing.
On the afternoon of January 8, some netizens discovered that "Lei Jun" knew that the personal homepage showed concern about the problem. "It is also a domestic mobile phone. Why is Huawei a national brand, but Xiaomi, which has the largest market share in India, is not a national pride?" The issue was subsequently dismissed.
In this regard, Lei Jun said, "Is it true that the account is open to me? It is possible that the account is not open to me. I have never been aware of it in the past year. It really doesn't matter to me."
Knowing that the account with the ID "Lei Jun" belongs to the "Enterprise" in the personal certification.Executive"Class, previously submitted the corresponding identification materials, in line with the relevant certification process and specifications.
(Article source: China Fund News)
(Original title: Just! Lei Jun "declared war" Huawei: You are the PPT mobile phone "Life and death are not convinced to do it!")