Shulou(Shulou.com)11/24 Report--

Thank you CTOnews.com netizen Mr. Aviation for the clue delivery! CTOnews.com April 13 news, Xiaomi Group announced on the Hong Kong Stock Exchange that on April 13,2023, the company has submitted an application for the establishment of an additional RMB counter to support the introduction of the Hong Kong-RMB dual counter model plan by the Stock Exchange of Hong Kong Limited. The Company's Class B ordinary shares are currently denominated and traded in Hong Kong dollars on the Stock Exchange. The Company believes that the HKD-RMB dual counter model will provide more investment flexibility and equity liquidity to shareholders and potential investors of the Company.

In December 2022, HKEx announced that its securities market would launch a "HKD-RMB dual counter model" and a dual counter making mechanism to further support the listing, trading and settlement of RMB counters in Hong Kong. Since March 2022, a number of Hong Kong stock listed companies have successively announced and submitted applications for new RMB counters, including Tencent Holdings, Baidu, Geely Automobile, Anta Sports, Fast Hand, Jingdong, etc.

CTOnews.com Note: Under the dual-counter model, HKEx will optimize the trading and settlement arrangements so that investors can swap Hong Kong dollar counter and RMB counter securities issued by the same issuer. Compared with Liugangtong, the double-counter mode reduces the exchange cost twice. In the past, the exchange was bought once and the exchange was sold once. After reducing the transaction cost, the transaction will be more active.

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