Futu News on April 8, XIAOMI Group opened low today, once down 3% in intraday trading, is now down 2.29% at HK $10.24, with a temporary turnover of HK $371 million, with a total market capitalization of HK $246.2 billion.

IQIYI, Inc. was shorted, XIAOMI was the second largest shareholder

It is reported that Baidu, Inc. is iQIYI, Inc. 's largest shareholder, holding 56.16%, while XIAOMI is iQIYI, Inc. 's second largest shareholder, with 6.66%.

Yesterday night, Wolfpackresearch said iQIYI, Inc. cheated before the listing in 2018 and continued to do so after the listing. Through due diligence, iQIYI, Inc. is expected to falsely increase revenue by 80-13 billion yuan in 2019, accounting for 27% of reported revenue, and the company has falsely increased the number of users by about 42%, 60%.

IQIYI, Inc. responded by firmly denying all doubts about the shorting of third-party institutions.

However, iQiyi fell 3.58% to $16.68 after trading.

XIAOMI was most affected by the closure of cities in India.

Since mid-late March, India, Vietnam, the Philippines, Malaysia, Singapore and other countries have successively announced "city closure" measures ranging from half a month to one month. CICC believes that if India's "city closure" is long-term, it will have a greater impact on mobile phone demand, but a limited impact on the global supply chain. It is reported that in 2019, XIAOMI's shipments in India accounted for more than 1 / 3 of the world's total shipments, which was the most affected.