Xiaomi held its "largest launch" before its IPO. Are you buying into the Xiaomi Mi 8?

On the eve of its listing, Xiaomi held a press conference with the largest number of audiences and the most product launches in its history. Lei Jun appeared as scheduled after the Xiaomi classic ringtone, and he did not look tired at all. It is said that Lei Jun participated in the rehearsal the night before the press conference, and had been busy with the road show before that. After the press conference, Lei Jun hurried back to Beijing, and it was almost dawn when he landed.

On the day of the press conference, there was news that Xiaomi will issue CDRs on the Shanghai Stock Exchange on July 16 and issue an IPO on the Hong Kong Stock Exchange on July 16. Xiaomi declined to comment on this. It is said that the PPTs before the press conference were part of the road show, and Lei Jun was constantly instilling the idea that "Xiaomi is an Internet company with mobile phones, smart hardware and IoT platforms as its core."

This press conference was like a "road show" of the largest scale. Lei Jun told the "stories" of Xiaomi MIUI (software), Xiaomi 8 series (mobile phones), Xiaomi TV, VR and Xiaomi Mi Band 3, which are two parts of the "triathlon": hardware products and Internet services. The Xiaomi 8 transparent exploration version even added the black technology of "Face ID", pressure-sensitive screen fingerprint recognition and transparent glass on the back, which made fans "climax" again and again.

Rumors of listing continue after the prospectus

Ever since Xiaomi submitted its IPO application in Hong Kong on May 3 this year, there has been constant rumors about Xiaomi's listing.

First, there were rumors that the listing hearing would be held on June 7, and the IPO price would be set in mid-to-late June. Then there were rumors of a valuation of $60 billion to $70 billion. Then there were rumors that Xiaomi would issue CDRs on July 16 and be listed in Hong Kong on July 17. In response to such news, Xiaomi adopted its usual external caliber: no comment.

Although during that period, Lei Jun couldn't help but reply with two words "rumor", it was suppressed by the public relations department.

Xiaomi has become one of the first technology companies to apply for "different voting rights for the same shares" after the Hong Kong Stock Exchange launched it, and is also considered to be the world's largest IPO this year. Xiaomi, which is rumored to have issued CDRs this time, may become China's first CDR company.

In this regard, the attitude of Hong Kong Stock Exchange CEO Charles Li seems to confirm this news. He said: "Xiaomi's listing will happen soon, but if the rules for Chinese depositary receipts are issued as scheduled, the issuer may also choose to list in Hong Kong and CDRs simultaneously. However, Hong Kong already has a listing system for simultaneous listing of A+H shares, and I believe that a similar system is also easy to operate."

The largest-scale "road show" before listing

Before going public, Xiaomi held its "largest launch in history" in Shenzhen, a place with special significance. It is close to Hong Kong and its competitors. As for why it chose Shenzhen for the launch, Lei Jun joked on stage that it was because competitors were here, and he wanted to tell them what Xiaomi had achieved after eight years of hard work. Then he listed various data.

Does Lei Jun want to tell these data to his competitors or to his investors? It is said that part of the PPT of Lei Jun's speech is part of the roadshow. Since this year, Xiaomi's press conference has started a city tour. This time, with more than 7,000 fans as witnesses, Lei Jun seems to regard it as the "largest roadshow".

The protagonist of this conference, Xiaomi Mi 8, had its posters and unboxing videos exposed before the conference, and the content of the conference was basically the same as the leaked content, equipped with Snapdragon 845, notch screen, dual GPS... It seemed that there were not many highlights, but netizens complained that it was too similar to Apple. In particular, it also followed the trend of launching a "notch screen".

In this regard, Lei Jun also expressed helplessness and provided a notch screen switch so that the notch screen can be hidden if you don't like it.

But when it comes to price, the Xiaomi 8 is equipped with the Snapdragon 845 chip, with a starting price of 2,699 yuan, which makes the manufacturers who also used the Snapdragon 845 chip a little embarrassed.

The biggest surprise at the conference was arguably the Xiaomi Mi 8 Explorer Edition, which not only featured a transparent glass back that surprised Mi fans, but also came with the world’s first pressure-sensitive screen fingerprint and “Face ID” feature, making it the first Android phone to feature this feature.

Screen fingerprint technology and "Face ID" based on 3D structured light are two different directions. Some mobile phone manufacturers will choose one of the two, but Xiaomi 8 combines the two technologies in one, which really caught people off guard. However, it is worth complaining that this phone may not be available for sale until July.

It is understood that structured light technology is not yet mature and the mass production yield needs to be improved.

Xiaomi is worthy of being Qualcomm's largest customer. This time, Qualcomm's newly released Snapdragon 710 was first adopted by Xiaomi. This sub-flagship phone was launched by Xiaomi at a starting price of 1,799 yuan. Of course, this will be attributed to the fact that Lei Jun mentioned that Xiaomi's overall hardware business (including mobile phones, IoT and consumer products) has a comprehensive after-tax net profit margin of no more than 5% each year.

Later, it also released a large-size Xiaomi TV, Xiaomi VR jointly launched with Oculus, and Xiaomi Mi Band 3.

Whether it's the Xiaomi 8 with its flaws or the Xiaomi 8 transparent exploration version that makes Mi fans "excited", will you buy into Xiaomi's "largest roadshow" this time?

As a winner of Toutiao's Qingyun Plan and Baijiahao's Bai+ Plan, the 2019 Baidu Digital Author of the Year, the Baijiahao's Most Popular Author in the Technology Field, the 2019 Sogou Technology and Culture Author, and the 2021 Baijiahao Quarterly Influential Creator, he has won many awards, including the 2013 Sohu Best Industry Media Person, the 2015 China New Media Entrepreneurship Competition Beijing Third Place, the 2015 Guangmang Experience Award, the 2015 China New Media Entrepreneurship Competition Finals Third Place, and the 2018 Baidu Dynamic Annual Powerful Celebrity.