On Jul 9, 2018, following eight years of hard work, Xiaomi finally listed on the Hong Kong mainboard (1810.hk) and achieving one of the three largest global tech IPOs in the process.
Xiaomi board director and ShunWei Capital founding partner and CEO Koh Tuck Lye was on hand at the event to witness the moment.
Koh stated in response to the occasion:
On one hand, Xiaomi has been able to achieve success thanks to the tremendous opportunities brought forth by the mobile internet. More importantly, Xiaomi has an exceptional management team at the helm.
Lei Jun is the founder of Xiaomi. At the same time, he is also a co-founder of ShunWei Capital. As co-founder of ShunWei Capital, I have had the opportunity to come all this way with Lei Jun over the last seven years. Together, we have been able to see how Xiaomi, this world-class company, has grown as it advanced towards its market listing.
Xiaomi was founded in 2010, and ShunWei Capital, in 2011. These two sister companies had both began in the same Beijing office building, one after another. Lei Jun is the founder of Xiaomi. At the same time, he is also a co-founder of ShunWei Capital. As co-founder of ShunWei Capital, I have had the opportunity to come all this way with Lei Jun over the last seven years. Together, we have been able to see how Xiaomi, this world-class company, has grown from its infancy as it advanced towards its market listing. In this time, ShunWei Capital has also invested in around 300 companies.
(Second from left: Lei Jun, Xiaomi founder, chairman and CEO
and also founding partner and chairman of ShunWei Capital;
first from right: Koh Tuck Lye, co-founder and CEO of ShunWei Capital)
his is ShunWei Capital’s fourth IPO listing in its portfolio since 2018, following Yujiahui’s A-share listing and the listing of Huami and iQiyi in the United States. We believe that in the future, even more companies in the ShunWei family will show us just how great they are.
We hope that ShunWei Capital will be able to influence the world in which we live in a broader sense through its investments.
A very good day to all you gathered here today!
I am extremely excited about what we are here for today.
I had this crazy idea eight years ago: I wanted to manufacture mobile phones using the “internet way” to improve the global image of Chinese products and to benefit each and every soul on this earth! Honestly speaking, there were very few who believed in this crazy idea. Thank goodness, a group of 13 people came on the first day of the company’s business to partake in some millet porridge. Till today, I still have no idea if they had really believed in the Xiaomi idea then. They are all here today, so you can ask them. Today, we have 175 representatives from Xiaomi who are here on behalf of our 19,000-strong workforce. Thank you to all of you and your family members. Your hard work and unity are what made Xiaomi’s glory today possible!
Recently, China and the U.S., have been at loggerheads on trade issues and the global capital market is full of uncertainty. I am very grateful to the over 100,000 investors — including Li Ka-shing, Jack Ma, and Pony Ma — who have put down cold, hard cash in an expression of their recognition and support of Xiaomi. Thank you! Good companies will continue to stand out despite the challenging broader environment!
I must also single out our Mi fans all over the world for special thanks. Eight years ago, we developed our first product, MIUI, which only had a hundred users for its first version. However, the support of these 100 users was what allowed us to grow steadily over time and to accrue the 190 million monthly active users that we have today. We have invited six Mi fans who have been supporting us since 2010 to be with us today. Later on, for the bell ceremony, I will ask their representative, Mr Hong Jun, to join us on-stage. We have worked hard to win the recognition and satisfaction of our Mi fans. Their recognition is what makes for our accomplishment.
We would also like to thank HKEX and the Securities and Futures Commission of Hong Kong. We are an internet company, and we have had a system of varied equity rights from Day One. Without innovations in the Hong Kong capital market we would probably not have the opportunity to list in Hong Kong. I believe that Hong Kong will attract even more high-quality internet companies to its shores!
Since Day One, innovation has been in Xiaomi’s blood. However, true innovation does not come by easily. Every single innovation requires tremendous sacrifice. Innovation occurs only after countless setbacks, and is always accompanied by misunderstanding or even controversy. The more we understand this point, the more grateful we are. I am very grateful for all of the understanding, trust, encouragement, and support that we have received!
There is no end to expressions of our gratitude. The best way to express it, however, is for us to continue to work hard! We must work hard to create great products as a means of thanking our Mi fans all over the world. We must work hard on our business to thank our employees and investors. Trade in our stock will begin in a bit. This is a brand new beginning for Xiaomi!
Thank you, everyone. Thank you!
