The risks of refinancing after Xiaomi Group's listing include market risk, financial risk and operational risk. Xiaomi Group has been listed. Xiaomi Group was listed on the main board of Hong Kong Stock Exchange on July 9, 20 1810. After listing, the risks that Xiaomi Group may face include market risk, financial risk and operational risk. Specifically, market risk refers to the impact of market fluctuations on the company's stock price, financial risk refers to the possible risks in the company's financial situation, and operational risk refers to the possible risks in the company's operating conditions. After listing, Xiaomi Group may seek new financing to support the company's business development and expansion. The risks include the uncertainty of the market environment and the financing difficulties that may be encountered. In the real world, Xiaomi Group issued convertible bonds in 2020 to raise funds.