Xiaomi Group’s stock value reached 61.45 Hong Kong dollars, the highest level in the company’s history. This rise represents a historic turning point not only for Xiaomi, but also for the company’s founder Lei Jun. With this increase, Lei Jun became the richest person in China.
Xiaomi on the agenda with its market value
The basis of the rise in Xiaomi shares is the intense interest in the company’s new electric vehicle YU7. The receipt of approximately 300,000 firm orders in the first hour after the device’s launch increased investor confidence and triggered a sharp upward movement in the stock market.
A similar picture was experienced in the first quarter of the year, when the share price reached 52 Hong Kong dollars in February, Lei Jun’s personal fortune increased to approximately 68 billion dollars. However, after the fatal Xiaomi vehicle accident at the end of March, the shares fell, causing Lei Jun to lose his position at the top.
Recent developments have reversed this decline. In Forbes’ November 2024 China Rich List, the founder of Nongfu Spring was ranked first with a fortune of $50.8 billion. However, this ranking has changed after the recent appreciation of Xiaomi shares.
While Xiaomi’s rapid growth steps in the automotive sector support the increase in its stocks, restrictions on production capacity also raise questions about whether the company can make this rise sustainable.
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