China's top wearable firm made its NYSE debut Thursday, closing up over 2% despite the Dow's 1,000 point drop. Tim Stenovec spoke with David Cui, CFO of Huami, to discuss the company's decision to go public.
Huami is a biometric and activity data-driven company with a focus in smart wearable technology. The company shipped 11.6 million units of smart wearable devices in the first nine months of 2017, more than any other company in the world, according to Frost & Sullivan. Cui explained how the company plans to gain a bigger marketshare of the global market.
Huami has been the sole partner of Xiaomi, a mobile internet company and global consumer electronics brand. Xiaomi is now one of the largest unicorn companies in the world and is expected to go public in 2018. Cui described the special partnership and how Huami will continue to capitalize on the rapidly growing smart wearable market in China.
It’s a chicken-and-egg problem: Restaurants are struggling with record-high U.S. egg prices, but their omelets, scrambles and huevos rancheros may be part of the problem. Breakfast is booming at U.S. eateries. First Watch, a restaurant chain that serves breakfast, brunch and lunch, nearly quadrupled its locations over the past decade to 570. Fast-food chains like Starbucks and Wendy's added more egg-filled breakfast items. In normal times, egg producers could meet the demand. But a bird flu outbreak that has forced them to slaughter their flocks is making supplies scarcer and pushing up prices. Some restaurants like Waffle House have added a surcharge to offset their costs.
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