https://www.theregister.co.uk/2018/06/11/xiaomi_pre_ipo_loss/

Chinese tech darling Xiaomi made a loss of $1.2bn (¥7.7bn) on turnover of $5.4bn (¥34.4bn) in the first quarter of 2018.

The firm disclosed the figures in a regulatory filing (Chinese, PDF) ahead of a share flotation. The IPO could raise $10bn and Xiaomi wants to use it to expand into the West.