June 11, 2018 / 5:44 AM / in 4 months

China's Xiaomi posts $1 bln Q1 loss ahead of blockbuster IPO

HONG KONG, June 11 (Reuters) - Chinese smartphone maker Xiaomi recorded a first-quarter net loss of 7 billion yuan ($1.09 billion) ahead of its blockbuster initial public offering, according to a filing.

That compares with a net loss of 43.89 billion yuan for the whole of 2017, according to its draft prospectus for what is expected to be the first Chinese depository receipts (CDR) offering. ($1 = 6.4048 Chinese yuan) (Reporting by Sijia Jiang; Editing by Anne Marie Roantree and Edwina Gibbs)

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