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Xiaomi-backed smart home appliance maker to go public at China's OTC stock board

Xinhua, August 10, 2016 Adjust font size:

Beijing Dongliweilai Technology Co. Ltd., a smart-home appliance maker backed by smartphone maker Xiaomi said on Wednesday that it had secured regulatory approval to be listed on China's over-the-counter stock trading board.

The National Equities Exchange and Quotations system has approved the listing of Dongliweilai Tech., which makes sockets and other connected home appliances for Xiaomi, the company said at a media briefing in Beijing.

Xiaomi declined to disclose any details of its investment in the appliance maker. It has invested in a number of smaller firms to help it explore connected home appliances, power banks, scooters, and many other electronic appliances. Endi