Xiaomi Group has reached a major milestone as its market value surpassed HK$1 trillion for the first time. The company’s stock closed at HK$39.85, marking its highest price ever. This surge comes after a strong performance in recent months, with the stock rising over 7% on January 24, 2025, to close at HK$37.1. Earlier in the month, on January 3, it had already hit HK$36.25, the highest since 2021.
Xiaomi’s financial performance
Xiaomi first went public on July 9, 2018, with an IPO price of HK$17. However, the stock initially fell below its IPO price and later dropped to an all-time low of HK$8.28 in September 2019. Since then, Xiaomi’s stock has made a remarkable recovery, reaching its record high in January 2025.
Xiaomi’s financial results for Q3 2024 exceeded market expectations. The company reported revenue of RMB 92.51 billion, surpassing the estimated RMB 90.28 billion. This represented a year-on-year growth of 30.5%. Net profit stood at RMB 5.35 billion, also above the forecasted RMB 4.73 billion, with a year-on-year increase of 4.4%. However, the company faced losses of RMB 1.5 billion in its innovative business segment, which includes IoT, electric vehicles, and emerging technologies.
Lei Jun, Xiaomi’s founder, chairman, and CEO, described the company’s latest performance as its best in history. Xiaomi is focusing on strategic investments in high-end smartphones, AIoT, and smart electric vehicles. With strong financials and a clear vision, Xiaomi continues to establish itself as a global technology leader. Investors are now looking forward to the company’s Q4 2024 earnings to see if it can maintain its growth momentum.
How has Xiaomi become a global tech powerhouse?
Xiaomi Group is a leading electronics company headquartered in Beijing, China, founded by Lei Jun in April 2010. Recognized as the largest smartphone company in China in 2014, Xiaomi is now among the top five smartphone vendors worldwide. The company offers a diverse range of smartphone series, including Mi, Redmi, Blackshark, and Pocophone, catering to different user preferences.
With approximately 291.6 million active MIUI users, Xiaomi has built a strong ecosystem beyond smartphones, manufacturing laptops, mobile accessories, wearables, home appliances, and smart-home devices. In 2019, the company expanded into lifestyle accessories such as bags, glasses, and even umbrellas. Xiaomi also ventured into financial services with Mi Credit in India (2018), providing easy access to personal loans. Additionally, it offers value-added internet services like Mi Music, Mi Video, and Mi Game, further enhancing its digital footprint.
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