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China Smart Phone Manufacturer Millet Group (1810.HK) appeared on the list of termination companies, indicating that it had withdrawn its application for CDR (China Depositary Receipt) issuance, according to the IPO application issued by the China Securities Regulatory Commission last Friday.
The Securities Daily quoted Xiaomi Company as saying that at present, the company concentrates on the development of the group business and has sufficient capital, so it decided to terminate the issue of the main board depository receipts.
According to the second quarter of 2019, as of June 30, 2019, the total cash reserve of Millet Group was 51.1 billion yuan.
Last year, Millet Group disclosed its CDR prospectus on the website of the Securities Regulatory Commission, but later announced a moratorium on CDR issuance. At that time, the company said that it would implement the plan of listing in Hong Kong and China step by step, that is, after listing in Hong Kong, it would choose the opportunity to list in China by issuing CDR. Millet was officially listed on the Hong Kong Stock Exchange on July 9 last year.

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