According to Lei Jun's shareholding calculation, at present, Lei Jun holds a total of 4.273 billion shares of Class A shares and 2.386 billion shares of Class B shares, holding a total of 6.659 billion shares, and the latest shareholding ratio is 27.79%. The latest shareholding of Lin Bin after the reduction is 11.47%. Based on the highest price of millet, the highest market value of Xiaomi is 501.2 billion (the share capital is 22.579 billion shares and the highest price is 22.2 Hong Kong dollars after the exercise of the over-allotment option on July 18). At that time, Lei Jun’s net worth was HK$154.4 billion (30.81 after the over-allotment option) %), at the current exchange rate, will be worth $22.4 billion. (The picture below shows the data on July 18)
After nearly 14 months, Xiaomi's share price plummeted 62.4% from a high point, and the market value shrank by 332.4 billion Hong Kong dollars, equivalent to 42.4 billion US dollars, equivalent to oneJingdongThe volume (Jingdong currently has a market value of 44.5 billion US dollars). According to the current Xiaomi market value of 210 million Hong Kong dollars, Lei Jun holding 27.79%, Lei Jun is worth 55.6 billion Hong Kong dollars (US$ 7.1 billion), and its net worth is 98.8 billion Hong Kong dollars (US$ 12.6 billion). However, according to Forbes data, Lei Jun is currently worth 9.6 billion US dollars, which has shrunk by 10 billion US dollars from the stock price of Xiaomi. Personal rankings have also changed from the 6th richest man in the Mainland to the 14th richest man in the present.
Xiaomi announced its results on August 20. The adjusted net profit of Xiaomi Group in the first half of the year was 5.716 billion yuan, a year-on-year increase of 49.8%. The adjusted net profit for the second quarter was 3.64 billion yuan, a year-on-year increase of 71.7%. The second quarter revenue was 52 billion yuan, and the market expectation was 53.521 billion yuan, compared with 45.236 billion yuan in the same period last year.
On August 26th, the HKEx disclosed that it was easy to show that Lin Bin, president of Xiaomi Group (01810.HK), sold Xiaomi shares for three consecutive days, and sold 26.7 million shares of the company for HK$9.0731 on August 21; August 22 It sold 5,594,600 shares on the day, sold 9,047,600 shares on August 23, and sold 41,170,200 shares on the third day.
On August 30, according to the latest issue of the issuance of stocks issued by the Securities and Futures Commission, the Xiaomi Group appeared on the list of companies that terminated the review, which means that Xiaomi officially withdrew the application for domestic CDR issuance. Xiaomi insiders said that the company has concentrated on the development of the Group's business and has sufficient capital, so it decided to terminate the public offering of the depository receipts.
Of course, Xiaomi’s share price has also been heated by the market. In response to the stock price issue, Xiaomi CFO responded that the stock price will be affected by many external large markets. Xiaomi firmly believes that as long as the performance continues to grow, there will definitely be some share price. reflect. So, what should we think about the future of Xiaomi?
Why is Xiaomi's share price still flat?
First of all, for Xiaomi in the end is a hardware company, Internet companies are controversial, yesterday at the millet performance meeting, the media is even more questioning whether Xiaomi is "destroyed" investment company? As of June 30, 2019, Xiaomi invested a total of 270 companies with a total book value of 28.7 billion yuan, a year-on-year increase of 20.8%. Xiaomi also extended its investment to supply chain companies. As of the announcement date, Xiaomi has invested in 12 supply chain companies, and three of them have been listed on the Kechuang Board.
Xiaomi CFO Zhou was capitalized, and Xiaomi is a strategic investor. The starting point of investment is to strengthen the main business through investment. “This is to develop our frontier layout and strengthen our grasp of advanced R&D technology and manufacturing processes.” Zhou said, “We are continuously increasing investment in many core devices... We hope to deploy a strong Chinese supply. The ecology of the chain."
Secondly, for Xiaomi's share price plummeting, the market voice is expressed by external factors. Talking about the continued downturn in Xiaomi's share price, Zhou said that “the stock price will be affected by many external influences. We firmly believe that as long as we continue to provide value to users on the road of business, our performance will continue to grow, and sooner or later we will reflect on our stock price. ""
Jiang Yan’s visual observation shows that the performance of Xiaomi is so good, and the root cause of the unsatisfactory stock price is still diversified. On the one hand, the performance of the world capital market in this year is very flat, not only Xiaomi, many well-known Internet giants in the 2019 performance is difficult to satisfy, just as the so-called under the nest is not finished, Xiaomi is also difficult to get rid of The entire Internet industry is not very good.
Third, is the performance of Xiaomi really higher than expected? According to the 21st Century Business Herald, it can be seen from the financial report that although the adjusted net profit of Xiaomi in the second quarter has increased significantly, the overall revenue growth rate has significantly slowed down from 22.7% in the previous quarter. From the perspective of revenue composition, Xiaomi IntelligentMobile phoneThe revenue of the business was 32.021 billion yuan, up 5% year-on-year; the revenue of IoT and consumer products business was 14.944 billion yuan, up 44% year-on-year; the income from Internet services was 4.58 billion yuan, up 15.7% year-on-year.
Compared with the first quarter, the growth rate of Xiaomi's three main business revenues has declined, with the mobile phone business showing the most obvious decline. The mobile phone is the largest business in the millet revenue, accounting for 61.6% in the second quarter, so the main reason for the slowdown in the growth of the entire millet revenue is from the mobile phone business.
Fourth, Xiaomi is listed on Hong Kong stocks, and Hong Kong stock investors do not know much about Internet companies. Jiang Yan’s vision shows that Xiaomi’s Hong Kong capital market is a market that is not well understood by the Internet. Although many Internet companies are listed in Hong Kong, Hong Kong’s capital market is still the most popular in traditional enterprises. Internet companies in the Hong Kong market are hardly recognized by most users. In addition, the game played by Xiaomi is never seen in the overseas market. Xiaomi, which lacks a reference system, makes it difficult for the capital market to find the target of the target. The natural stock price is not so Nice to see.
Jiang Yan’s vision observation: However, for Xiaomi, although the stock price issue is important but not the most critical, as long as it can maintain long-term stable growth of performance and maintain long-term profitability of the ecosystem, the future stock price growth will only be a matter of time.
Fifth, the original investors have been continuously reduced since the listing. In particular, the company's presidential reduction before and after the performance greatly weakened the market confidence. Since Lin Bin reduced his holdings, the company's stock price range has fallen by 11.45%. Under the pressure of reducing holdings, Sina Hong Kong stocks found that the company's short-selling rate has been at a high level and has declined. Since August, the average number of short-selling shares of Xiaomi has reached 23.2 million shares, and the average short-selling rate is 22.07%. After nearly 80 million short-selling in the last 3 days, the current short-selling rate of Xiaomi is still around 19%, and the market outlook is still not optimistic!