On December 17, 2020, Xiaomi Corporation (Stock Code: 01810.HK) issued USD 855 million zero-coupon convertible bonds due 2027 on the Hong Kong Stock Exchange (HKEX).

Founded in April 2010, Xiaomi is an Internet company focusing on mobile phones, smart hardware and IoT platforms. It took the company only 7 years to achieve annual revenues of over CNY 100 billion. With operations in over 80 countries and regions worldwide as of September 2020, the company aims to build connected products at reasonable prices to create a technology-powered life for the world.

As the Chinese legal adviser to the issuer, Jingtian & Gongcheng's legal team participated in the transaction and provided end-to-end legal services for the issuance. Previously, as the Chinese legal adviser to the underwriter, the team assisted Xiaomi in its successful Hong Kong IPO and listing on the Main Board of HKEX in 2018.