Millet Group: Capital Adequacy Withdrawal CDR Issue Application

On August 31st, Xiaomi announced that the company was concentrating on business development, and had sufficient capital. After careful consideration, the company decided to terminate the issuance of the motherboard depository receipts.

According to the SFC's updated IPO list, the group has terminated the review in August 26th.

It is understood that CDR is the abbreviation of Chinese Depository Receipt (China depository receipts), which refers to the listing of some issued shares in overseas (including China Hongkong) listed companies in the local custodian bank, issued by depository banks in China, listed on the A stock market in the mainland, traded in Renminbi, and sold for domestic investors, so as to achieve the sale of shares in different places.

The media noted that in June last year, Xiaomi announced through official micro-blog that the company decided to implement the listing plan in Hongkong and the mainland step by step after repeated careful study. That is, after listing in Hongkong, it will be listed in the domestic market by issuing CDR.

To this end, the company will apply to the China Securities Regulatory Commission to postpone calling the development committee to examine the company's CDR issuance application. Shortly after that, the official website of the SFC announced the news.