Xiaomi’s Hong Kong Stock Breaks Through HK$34, Hitting A New High

The Hong Kong stocks of Xiaomi Group hit a record high in early trading. As of this morning, it rose 3.916% to 34.5 Hong Kong dollars ($4.45), with a total market value of 868.91 billion Hong Kong dollars ($112.06 billion). So far, Xiaomi’s share price has doubled from the issue price of HK$17 ($2.19), fulfilling its listing commitment.

Xiaomi stock price

On December 28 last year, at the Xiaomi Mi 11 press conference, Lei Jun said when talking about the unforgettable moments in 2020, Xiaomi’s share price has been below the issue price for two years. This has been a super depressing time for the past two years.

On July 9, 2018, Xiaomi was listed on the main board of the Hong Kong Stock Exchange under the name of “Xiaomi Group”, becoming the first listed company to adopt a WVR structure after the reform of the Hong Kong Stock Exchange’s listing system. On the first day of listing, Xiaomi’s share price immediately fell below the issue price of HK$17. In September 2019, Xiaomi’s share price fell to 8.28 Hong Kong dollars per share ($1.07).

On July 10 this year, Xiaomi’s stock price returned to the issue price. After that, 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 at HK$10.36 ($1.34) on December 27, 2019, Xiaomi Group’s increase this year was exactly 200%.

Xiaomi’s Performance In Q3, 2020

Well, in Q3 of 2020, Xiaomi’s global shipments of smartphones reached 46.6 million units, a year-on-year increase of 45.3%, rising to the third place in the world. In addition, smartphone shipments in the European market increased by 90.7% year-on-year, with a market share of 18.7%. The number of connected IoT devices on the Xiaomi AIoT platform reached 289 million (excluding smartphones and laptops), a year-on-year increase of 35.8%. And of course, it continues to be the world’s leading consumer-level Internet of Things.

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