A detailed explanation of the reasons why Xiaomi Group appears to be flying
What is the situation of Xiaomi Group's flying? Why is Xiaomi Group's flying? Xiaomi Group closed the margin at noon today, and the next day's IPO continued to be affected by weak market conditions. CASH Financial and Phillip were drew about 1.7 billion yuan by investors. 14 brokerages have lent more than 9.7 billion yuan in margins, which is equivalent to 3.06 times overbuying. The industry generally expects that Xiaomi will eventually over-purchase by about 5 to 10 times, and freeze capital about 24 billion yuan.
The response to Xiaomi's IPO was cold, and the pressure on market funds eased. Before the half-year end, the Hong Kong dollar interest rate has fallen, and short-term interest rates have fallen significantly. However, people in the treasury market predict that the deadline for Xiaomi's IPO is very close to the half-year end, and the dividend rate may be increased in the next few days.
OvernightAccording to data from the Treasury Market Association, the latest overnight rate was 0.90571%, down about 90 points from yesterday; the one-week rate was 1.93607%, down about 50 points; the two-week rate also fell 36 points to 2.00571%.
The 1-month interest rate related to property mortgages fell slightly by about 4 points to 2.0825%, ending the 19th consecutive rise. The 3-month interest rate remained high at 2.08679%, a slight increase of 1 pip from yesterday.
The half-year end will be higherLin Junhong, head of the Shanghai Commercial Bank's research department, said that the market was not aware of the reaction to Xiaomi's IPO, and the bank would rather keep the funds instead of lending it out, which led to rising interest rates. Now that the market has returned to basic factors, interest rates have fallen.
However, he reminded that, according to past practice, investors in new stocks will usually subscribe on the last day to avoid premature lock-in of funds. It just so happens that the closing date of Xiaomi subscription (12 noon on the 28th) is approaching the half-year end. Lin expects that the Hong Kong dollar interest rate will have a chance to be raised again, and the one-month interest rate may rise to more than 2.2%.
There is a marginal drawMillet's IPO encountered a cold wind, and the next day’s IPO even saw margins. Among them, Phillip’s lending margin decreased from HK$1.2 billion yesterday to HK$900 million; other brokerages also said that there was no significant gain in margin subscriptions today. . Some people in the industry pointed out that many investors will not subscribe until the last minute, and Xiaomi's margin will end tomorrow. I believe the subscription amount will increase by then.
According to Lei Jun, in 2017, Xiaomi Group's revenue was RMB 114.6 billion, a year-on-year increase of 67.5%. Compared with the profitable listed companies with global revenue of more than RMB 100 billion, Xiaomi ranked first among Internet companies in terms of revenue growth rate. , Ranked second among all companies.
Lei Jun believes that Xiaomi still has huge room for growth in the future. Xiaomi will continue to expand its categories to allow its products to enter more countries and new markets. At the same time, Xiaomi promises to all existing and potential users that starting from 2018, Xiaomi's annual overall net profit margin of the hardware business will not exceed 5%. If there is any excess, it will be returned to the user.
When answering questions about the impact of Sino-US trade on the company, Wang Chuan, the co-founder of Xiaomi Group, said that Xiaomi is optimistic about the long-term development of Sino-US trade. "Xiaomi is very optimistic about the long-term development of Sino-US trade. Because of today's globalization, all economies rely on each other. Xiaomi is a very international company. In the first quarter of this year, 36% of Xiaomi's total revenue came from international . The reason why Xiaomi has rapid growth is because we believe that entering any country must abide by local laws and regulations. Xiaomi requires itself with the highest standards, and strives to bring benefits to the local country, forming a win-win situation. Third, last year, In the fourth quarter, we won the first place in the Indian market. In fact, we got it when the Sino-US trade relationship is relatively tense. We are actually welcomed all over the world. In the US market, we are actually planning and we will choose the right one. Time to enter the United States."
According to reports, Xiaomi Group is the first company in Hong Kong to be listed on a "same share with different rights" structure. It will conduct a public offering from June 25 to 28, and officially land on the main board of the Hong Kong Stock Exchange on July 9. Xiaomi’s IPO price is between RMB 17 and RMB 22, with approximately 2.2 billion shares offered.
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