Xiaomi Group has achieved a significant achievement, as its market value has crossed HK$1 trillion for the very first time. The company’s shares finished at HK$39.85, marking an all-time high. This increase follows a strong performance in the recent months, with the stock climbing more than 7% on January 24, 2025, to conclude at HK$37.1. Earlier that month, on January 3, it had already reached HK$36.25, the highest price since 2021.
Financial Growth of Xiaomi
Xiaomi made its public debut on July 9, 2018, with an IPO price of HK$17. Initially, the stock fell below this IPO price and eventually dropped to a lowest point of HK$8.28 in September 2019. However, since then, Xiaomi’s stock has remarkably bounced back, hitting its record high in January 2025.
Insights from CEO Lei Jun
The financial outcomes for Xiaomi in Q3 2024 surpassed market predictions. The firm announced revenues of RMB 92.51 billion, more than the expected RMB 90.28 billion, which indicated a growth of 30.5% year-on-year. The net profit was RMB 5.35 billion, which was also better than the anticipated RMB 4.73 billion, showing a 4.4% increase compared to the previous year. Nonetheless, the company faced a loss of RMB 1.5 billion in its innovative business section, which includes IoT, electric vehicles, and new technologies.
Lei Jun, who is the founder, chairman, and CEO of Xiaomi, called the company’s recent performance its best in history. Xiaomi is concentrating on strategic investments in high-end smartphones, AIoT, and smart electric vehicles. With robust financial results and a clear direction, Xiaomi is positioning itself as a leader in global technology. Investors are eagerly waiting for the company’s Q4 2024 earnings to see if it can keep up this growth trend.
Xiaomi’s Rise as a Tech Leader
Founded by Lei Jun in April 2010, Xiaomi Group is a top electronics company based in Beijing, China. It became the largest smartphone manufacturer in China in 2014 and is now counted among the top five smartphone vendors globally. The company provides a wide variety of smartphone series, such as Mi, Redmi, Blackshark, and Pocophone, to meet different consumer needs.
With around 291.6 million active MIUI users, Xiaomi has developed a robust ecosystem that extends beyond smartphones, producing laptops, mobile accessories, wearables, home appliances, and smart-home devices. In 2019, Xiaomi also ventured into lifestyle products like bags, glasses, and umbrellas. Furthermore, it entered the financial services sector with Mi Credit in India (2018), making personal loans more accessible. Xiaomi also offers added internet services like Mi Music, Mi Video, and Mi Game, which enriches its digital presence.
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