The company, trading under the ticker symbol of "UXIN", announced its IPO of 25 million American depositary shares (ADSs) at a price to the public of .0 per ADS.
The company said that Glacier is ideal for data that must be archived, but not frequently accessed. Examples include:?digital media archives, financial documents, ?healthcare records and raw genomic sequence.
The company launched last year and raised million?from Two Sigma Ventures, Ben Franklin Technology Partners, and WestRiver Group, the firm led by TopGolf Entertainment Group Co-Chairman Erik Anderson.
The company's share closed at HK .64 (.48) in Hong Kong. Xiaomi posted 44.4 billion yuan (.63 billion) in revenue in the fourth quarter of 2018, up 26.5 percent year-on-year, but fell short of the expectations of 47.4 billion yuan, according to Refinitiv data.
The company said the new plant covers an area of 64,000 square meters, with a total investment of 290 million yuan (.77 million). The facility is expected to be operational by the end of this year.
The company's businesses include organic silicon products, chemical materials and the production and sale of butanone oxime, a substance used in coating products that is harmful if it comes into contact with skin.
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The company said that it will reduce capacity by letting fewer people enter its parks and all guests will be required to make advanced ticket purchases and reservations.
The company's valuation now stands at 752 billion yuan. Earlier, it became the first consumer stock with a market value exceeding 1 trillion yuan.
The company will bank on a network of internet celebrities to promote different merchandise to users of various nationalities. Social media personalities will become skilled at converting their influence into cash while helping to boost merchants' revenue, Wang noted.
The company's growth is caused by blossoming sport utility vehicle sales, not new energy models.