Last updated on December 8th, 2022 at 02:52 pm
According to this decision, American investors retained the right to buy Xiaomi securities.
As we previously reported , a federal judge in Washington has forbidden the US Department of Defense to restrict American investments in the Chinese company Xiaomi. In other words, American investors retained the right to buy Xiaomi securities. The planned restriction has not yet come into force.
Xiaomi company commented on the decision of the American court
On this occasion, the Chinese company issued a statement. It is shown below in full:
Xiaomi is pleased to announce that on March 12, a US court banned the Department of Defense from recognizing Xiaomi as a Chinese communist military company and taking appropriate action based on this. As part of the guaranteed interim measures, the Court ruled in full and with immediate effect to lift restrictions on the purchase of Xiaomi securities by US citizens and the requirement for US citizens to withdraw their investments in the company in accordance with US Presidential Decree No. 13959.
Xiaomi recalls that it is a world renowned public company with an independent management that offers consumer electronics exclusively for civil and commercial use.
Xiaomi believes that the decision to grant it the status of a Chinese communist military company is ill-considered and ridiculous, with which the judge also agreed. Xiaomi will continue to insist that the court declare the illegality of this action and achieve its unconditional cancellation.
Xiaomi is a young and energetic technology company. Year after year, we bring amazing electronics, including smartphones and smart TVs, to consumers around the world at fair prices. We remain loyal to our global partners, striving to improve the life of everyone on the planet through innovative technologies.
