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Xiaomi to Raise Up to $5.27 Billion Through Share Sale

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Chinese smartphone and electric vehicle (EV) manufacturer Xiaomi Corp is set to raise up to $5.27 billion through a top-up placement, according to a term sheet seen by Reuters. The company will sell 750 million Class B shares, with a price range set between HK$52.80 and HK$54.60 per share, reflecting a discount of 4.2-7.4% compared to its HK$57 closing price on Monday.

Xiaomi intends to use the funds raised for business expansion, investments in research and technology, and general corporate purposes. The move comes on the back of Xiaomi’s recent success, reporting a nearly 50% jump in its fourth-quarter revenue and increasing its target for electric vehicle deliveries from 300,000 to 350,000 units for the year. Additionally, Xiaomi plans to expand its retail presence, aiming to open 10,000 new Mi Home stores worldwide over the next five years.

This share placement follows a broader trend of Chinese firms engaging in equity capital market deals in 2025, with total equity issuance from Chinese companies reaching $16.8 billion in the first quarter, more than double the amount seen a year ago.

Xiaomi’s offering is being managed by Goldman Sachs, CICC, and JPMorgan.

Accenture Surpasses Revenue Expectations on Strong Demand for GenAI Services

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Accenture (ACN) exceeded Wall Street’s first-quarter revenue and profit projections, reporting strong growth fueled by rising demand for its services in generative AI (GenAI). This growth has prompted a 6.5% increase in Accenture’s stock price during early trading on Thursday.

Growing Demand for GenAI Services

The surge in revenue comes as businesses increasingly focus on scaling AI projects, enhancing data security, and digitizing core operations to boost growth and reduce costs. Accenture is capitalizing on this trend, providing AI-powered solutions across various industries. These solutions range from predictive maintenance in manufacturing to automating advertising workflows.

Accenture’s GenAI business recorded new bookings of $1.2 billion, with $500 million in revenue, driven by a surge in AI project utilization. The company’s total new bookings for the quarter reached $18.7 billion, slightly higher than the previous year’s $18.4 billion.

Workforce Expansion

To meet the growing demand, Accenture has expanded its data and AI workforce to 69,000 employees and plans to increase this number to 80,000 by 2026. This expansion highlights the rising need for AI and data-driven services across industries.

Financial Outlook

Despite the strong results, Accenture’s revenue growth forecast for the year has been slightly raised to a range of 4% to 7%, compared to its earlier estimate of 3% to 6%. The midpoint of this range is lower than analysts’ expectations of 5.63%. For the second quarter, the company has forecasted revenue of between $16.2 billion and $16.8 billion, slightly below the average analyst estimate of $16.63 billion.

Quarterly Performance

Accenture’s first-quarter revenue reached $17.7 billion, surpassing the $17.12 billion forecast by analysts. The growth was driven by strong performance in the Americas and EMEA regions, as well as across the public service and health sectors.