Xiaomi officially removed from US DoD blacklist

Xiaomi officially removed from US DoD blacklist




Xiaomi has announced that the U.S District Court for the District of Columbia has lifted all restrictions on U.S persons’ ability to purchase or hold securities on the Company.

In January, the U.S. Department of Defense (DoD), under the Trump administration, added nine Chinese firms, including Xiaomi Corporation, to its list of “Communist Chinese military companies.” Trump’s Executive Order, which took effect on January 11, 2021, prevents U.S. investors from investing in the listed companies by November 11, 2021.

In February, Xiaomi announced that it is taking legal action against the U.S. government for its inclusion in the investment blacklist. In March, Xiaomi won the court ruling.

On May 25, 2021, at 4:09 pm EST, the U.S District Court for the District of Columbia issued a final order vacating the U.S Department of Defense’s designation of the Company as a “Communist Chinese Military Company” (CCMC). In vacating the designation, the court formally lifted Xiaomi from the U.S DoD blacklist.


 

According to Xiaomi, they are grateful for the trust and support of its global users, partners, employees, and shareholders. In addition, the Company notes that it is an open, transparent, publicly-traded, independently operated, and managed corporation; and will continue to provide consumers electronic products and services.

Below is the full statement:

Xiaomi Official Statement on Removal from U.S. Blacklist

Xiaomi (the “Company”) is pleased to announce that on May 25, 2021 at 4:09 pm (Eastern Standard Time), the U.S. District Court for the District of Columbia issued a final order vacating the U.S. Department of Defense’s designation of the Company as a “Communist Chinese Military Company” (CCMC). In vacating the designation, the court formally lifted all restrictions on U.S. persons’ ability to purchase or hold securities of the Company.

The Company is grateful for the trust and support of its global users, partners, employees and shareholders. The Company reiterates that it is an open, transparent, publicly traded, independently operated and managed corporation. The Company will continue to provide reliable consumer electronics products and services to users, and to relentlessly build amazing products with honest prices to let everyone in the world enjoy a better life through innovative technology.

 



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