Xiaomi, a Chinese smartphone manufacturer, was excluded from the Pentagon-designated blacklist in the US trial. Previously Trump included Xiaomi on his China-ban policy.
Xiaomi said in a public announcement on the Hong Kong Stock Exchange on the 26th, “On the afternoon of the 25th, the US District Court in Washington, D.C., the US Department of Defense made a final decision to exclude Xiaomi from the list of Chinese military-linked companies.”
“This has lifted the restrictions on Xiaomi’s shares,” Xiaomi said.
On January 14, just before the expiration of former President Donald Trump’s term, the U.S. Department of Defense ban and blacklisted nine Chinese companies, including Xiaomi. Through this, U.S. investment in these companies was banned, and U.S. investors were required to dispose of their shares by November 11.
Xiaomi later filed a lawsuit in a U.S. court on January 29 demanding that the blacklist be revoked, denying its involvement with the Chinese military. In March, a local court decided to temporarily exclude Xiaomi from the blacklist.
Xiaomi founder and CEO Lei Jun left a message on Weibo saying, “We will win.” “Xiaomi is an open, transparent and independent company,” he reiterated.
