On the evening of August 10, at the 2021 Lei Jun annual speech and Xiaomi autumn new product launch, Lei Jun delivered the annual speech of "My Dream, My Choice", sharing with the audience the changes and growth process of Xiaomi in the past decade.
Image source: Visual China
Lei Jun recalled the listing scene in 2018, when the investment bank gave a stock price of 17-22 Hong Kong dollars, and Xiaomi chose the lowest price. But reality disappointed it a bit, and the opening of the day broke, which meant that all the investors in the IPO lost money.
"We felt particularly uncomfortable in our hearts, the reporter blocked the door, and none of us wanted to face this situation, so lin bin hid in the utility room of the Hong Kong Stock Exchange."
At the internal celebration banquet that night, Lei Jun also felt very depressed and drank a lot of wine that night. The scene proposed to let investors at least double their earnings, "We have to do a good job, can't let others lose money." ”
Lei Jun also specially bought a pair of ripped jeans and used this ritual to remember the day of the broken hair. Although Xiaomi has been listed, the revolution has not yet succeeded.
But then Xiaomi's stock price fell to HK$8.28 at one point, which was already cut off from the IPO price. During that time, Lei Jun was particularly reluctant to meet investors, and one investor insisted on meeting him, saying unceremoniously to his face, how did you let me lose so much money, I really don't know how you did it. "Xiaomi's products, management and other aspects have trained me like a primary school student for more than an hour." Later, I was alone in the conference room for a long time, and I was particularly desperate. ”
On August 11, according to the Science and Technology Innovation Board Daily, Xiaomi insiders said that Lei Jun recalled in his speech last night that Xiaomi was broken after the listing in Hong Kong and the stock price was depressed, and did not blame anyone, nor specifically pointed to whom, this is a group portrait, not specifically referring to anyone and institutions, Lei always just took this matter to spur himself. The insider also said that he did not expect someone to sit in the right seat, "after all, the stock price was low at that time, everyone was under pressure, which can be understood."
On the morning of the 11th, according to sources, the investor who reprimanded Lei Jun was Ma Yun's wife, Zhang Ying. Zhang Ying was known as M11 in Ali at that time, because Ma Yun's level was only M10, and his status was very high.
However, on this news, Lei Jun also made a debunking of rumors.
On the 11th, Lei Jun responded in the circle of friends: I am friends with her, the investment topic in last night's speech has nothing to do with her, and the online rumors are all rumors.
At the time of Xiaomi's listing, the valuation was once speculated to 100 billion US dollars and 200 billion US dollars, and the opening price on the day of listing was 16.6 Hong Kong dollars per share, down 2.35% from the issue price of 17 Hong Kong dollars, according to which the market value of Xiaomi was about 371.4 billion Hong Kong dollars (about 47 billion US dollars).
At the Xiaomi listing celebration banquet, Lei Jun issued a bold statement: "We must double the income of investors who bought Xiaomi stocks on the first day of listing." But then, Xiaomi's stock price has been lower than the issue price for a long time, and the stock price has gone all the way down. At the beginning of September 2019, Xiaomi's stock price hit a new low of HK$8.28 per share, which was lower than the issue price.
Lei Jun also admitted at the press conference of Xiaomi 11 in December 2020, "Xiaomi's stock price has been lower than the issue price for two years, and it is more humiliating to be honest." ”
Since May 2020, with Xiaomi's march into the high-end market, Xiaomi's stock price has risen all the way, rising from HK$10/share to a peak of HK$35.9/share in January this year, and its market value has risen to nearly HK$900 billion. At this point, Xiaomi's stock price has doubled from the issue price of HK$17 per share.
However, since the beginning of this year, Xiaomi's stock price has experienced several twists and turns, the lowest time was 23.7 Hong Kong dollars / share, and today's xiaomi opening price is 27.65 Hong Kong dollars / share.
Editor| Sun Zhicheng, Wang Jiaqi, Xiao Yong
Proofreading | Lu Xiangyong
Daily economic news synthesized from Lei Jun's live speech, science and technology innovation board daily, etc
Daily economic news