the the head of The Hong Kong stock exchange, Hong Kong Exchanges and Clearing (HKEX) is shown compared to the Bitmain IPOs skeptical. The world’s largest manufacturer of Mining Equipment should be first of all about his business model in the Clear.
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On the 25. January 2019BTC$3.562,88 -0.43%part Facebook Twitter LinkedIn xing mail
With the Bitmain-IPO, it is still nothing. In the course of the world economy, turned out forum in Davos, this could be due to improperly formulated business objectives. So it represents at least Charles Li Xiaojia, President of the Hong Kong stock exchange HKEX, on the edge of this year’s meeting of the economic grandees.
compared To the news portal Tencent Li commented on the Status of the IPO applications of the three biggest manufacturers of Mining Hardware, Bitmain, Canaan Creative and Ebang International. Accordingly, it is ordered to any of the three applications.
in Short: The business strategies were too inconsistent.
“If a company makes billions of dollars in sales with business model A, and all of a sudden says that it wants to pursue prefer model B, without the is not justify with the Performance, I believe that A model for an [IPO-application]”,
said Li in Davos.
A speedy approval seems accordingly unlikely.
The comment was allegedly with side views of the aspirations of the Hardware manufacturer to invest more in the area of Artificial intelligence (AI). Although the proceeds from the sale of Mining Hardware, in 2018, approximately 94 percent of the sales, want Bitmain to expand in the field of AI. This is evident from Bitmains IPO application.
As reported by the South China Morning Post, has launched its Hardware company in the last year, a number of products in this division.
Read also: H-Ant: A Virus is attacking Mining Pools
When the IPO?
The inlet from the Li sound just after the speedy approval of the IPO. On the contrary, Because, in addition, leader plaguing the market for some time now, economic problems. As a result, reported to BTC-ECHO in the recent past on multiple occasions over a wave of redundancies in Bitmain.
Anonymous according to insiders, a considerable part of the job was threatened. Currently Bitmain has approximately 3,100 employees. Rumors are that about half could be affected by redundancies, could not confirm to the Insider, however.