This morning, the Hong Kong stocks of Xiaomi Group opened higher by more than 3%, and the total market value once again exceeded HK$800 billion ($103.18 billion). Yesterday, Xiaomi Group officially released the new flagship mobile phone Xiaomi Mi 11. So such a stock price is not surprising.
The world’s first Snapdragon 888 phone, the Xiaomi Mi 11 uses a 6.81-inch 2K quad-curved AMOLED screen, and the starting price is 3999 yuan ($612). In addition, Xiaomi’s smartphone shipments in the third quarter increased by 42% year-on-year to 46.5 million units, with a market share of 13.1%. Thus, it surpasses Apple and returns to the top three of the global smartphone rankings after 6 years. This is the reason why the market value of Xiaomi Group has been rising.
Prior to this, the market value of Xiaomi Group broke through the $100 billion level on December 23, and officially entered the $100 billion club.
Gizchina News of the week
Last night, Lei Jun said at the Xiaomi 11 press conference that Xiaomi went public more than two years ago, and its stock price was lower than the issue price for two years. ‘This is what I have been super depressed in the past two years.’
Xiaomi’s Stock Price Evolution
Established in March 2010, Xiaomi is a technology company focusing on the construction of smartphones, Internet TV and smart home ecological chains. On July 9, 2018, Xiaomi Group went public. At that time, Xiaomi’s Hong Kong IPO price was set at 17 Hong Kong dollars ($2.19) per share, and the net fund raised was 23.975 billion Hong Kong dollars ($3.09 billion). In September 2019, Xiaomi’s stock price fell to 8.28 Hong Kong dollars ($1.07) per share.
On July 10 this year, Xiaomi’s stock price returned to the issue price. Since then, Xiaomi’s stock price has been rising. As of yesterday’s close, Xiaomi Hong Kong stocks were quoted at HK$31.15 ($4.02). Calculated on the basis of HK$10.36 on December 27, 2019, Xiaomi Group’s growth rate this year was exactly 200%.
