Xiaomi’s market value exceeds HK$1 trillion
On February 6, 2025, Xiaomi Group’s Hong Kong stocks ushered in a strong rise, with the stock price breaking through HK$40.55, an increase of 2.27%, and the market value breaking through the trillion Hong Kong dollar mark, reaching HK$1.02 trillion, setting a record high.
Looking back at 2024, Xiaomi Group’s stock price performance was particularly impressive, with an increase of 121%, far exceeding the 18.7% of the Hang Seng Technology Index in the same period. Entering 2025, Xiaomi Group’s stock price continued to rise, with an increase of 17.54%.
In contrast, the performance of other technology giants was relatively mild. In 2024, Alibaba rose 11%, JD.com rose 24%, and Tencent rose 44%, and these companies failed to reach Xiaomi’s growth level.
From its listing on the Hong Kong stock market on July 9, 2018 to its rapid break, the market value has always been at a low point; then with the success of SU 7 and Xiaomi Auto, Xiaomi’s road to a “trillion-dollar market value” has not been smooth, and Xiaomi Auto is of extraordinary significance to Xiaomi.
Xiaomi SU7, knocking all opponents away equally
In 2024, Xiaomi ushered in a year of accumulation and development, especially in the automotive field. The launch of Xiaomi SU7 has become an important driving force for the sharp rise in stock prices.
Lei Jun once revealed that the market response to Xiaomi SU7 far exceeded expectations, prompting Xiaomi Auto to adjust the goals set at the beginning of the year again and again, gradually from 70,000, 100,000, 120,000, and finally breaking through to 135,000 delivery results.
Looking back at Xiaomi’s start in the automotive field, it can be said that it started with doubts and questions. As a company that only announced its entry into the car manufacturing industry in 2021, Xiaomi entered the market the latest among the new car manufacturing forces. The first mass-produced car, Xiaomi SU7, was not officially delivered until March 2024.
The situation at that time was very stressful for Xiaomi.
In an atmosphere that was not optimistic, Xiaomi Automobile struggled forward. On March 28, 2024, as soon as the Xiaomi SU7 press conference ended, the large-scale volume exceeded 50,000 units in a short period of time. During the first sales period, 60% of the “angel orders”, that is, consumers placed orders directly without test driving. With the opening of the delivery period, Xiaomi’s stock price also began to rise steadily.
The delivery volumes in April and May 2024 were 7,000 and 8,600 respectively, and the capital market remained on the sidelines. However, from June to September, the delivery volume of Xiaomi SU7 remained above 13,000 units, and the stock price of Xiaomi Group also broke through the 20 Hong Kong dollar mark. From October to January 2025, Xiaomi delivered more than 20,000 vehicles for four consecutive months, and its stock price continued to rise.
In the New Year’s Eve live broadcast at the end of 2024, Lei Jun proposed the first New Year flag: “Delivery will be accelerated in 2025, with a delivery target of 300,000 vehicles.”
This goal completely stimulated the enthusiasm of the capital market, and Xiaomi’s market value finally broke through the 1 trillion Hong Kong dollar mark.
There are three main reasons for the success of Xiaomi Automobile:
1. Xiaomi has sufficient understanding of the complexity of car manufacturing and has invested enough. It is understood that Xiaomi’s investment in automobile research and development has exceeded 13 billion yuan, and the cumulative investment has reached nearly 30 billion yuan, not including the investment of other related resources of Xiaomi Group.
2. Accurate market positioning. At that time, the competition in the SUV market was already very fierce, and it was conceivable that Xiaomi wanted to defeat its competitors in this field. Therefore, Xiaomi cleverly bypassed the SUVs preferred by consumers and turned to the relatively “unpopular” sedan market, successfully shaping brand awareness.
3. Xiaomi is considered to be the most marketing-savvy car company in China. In the early years, Lei Jun proposed the business philosophy of “going with the flow” and summarized the seven-character formula of “Xiaomi Methodology”: focus, extreme, word of mouth, and fast. This concept runs through all of Xiaomi’s products and strategies, from mobile phones to smart hardware, and now cars, all have a distinct mark.
Xiaomi’s road to car manufacturing, from initial doubts to today’s success, not only demonstrates its advantages in the field of smart hardware, but also successfully breaks industry barriers through precise market positioning and efficient marketing strategies.
The intensity of market competition in 2025 will be a step higher than last year. We are witnesses of the times, and we are increasingly looking forward to what kind of great changes this era will bring under the influence of all of us.
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