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Xiaomi Officially Enters The US $ 100 Billion Club

Xiaomi

Xiaomi , a smartphone company as well as an accessory maker and smart device maker, has finally entered the “100 billion dollar club”. The value of the Xiaomi company has been recorded to have reached more than 100 billion US dollars.

Xiaomi

This capitalization value was achieved by Xiaomi after the company’s shares with code 1810.HK gained 9.1 percent on the Hong Kong stock exchange on Wednesday (23/12/2020). The shares of Xiaomi on December 23 closed at 31.90 Hong Kong dollars, up by 7.6 percent.

With this closing price, Xiaomi’s capital value reaches Hong Kong $ 802 million or around US $ 103 billion, as reported by Bloomberg . Thus, Xiaomi is the 13th company in the Hang Seng benchmark index to have a market capitalization of over US $ 100 million.

The capitalization value is said to be equivalent to Xiaomi’s target value when it first took the floor on the Hong Kong stock exchange in 2018. Two years ago, Xiaomi’s Intial Public Offering (IPO) was opened with a stock value of 17 Hong Kong dollars per share and an overall valuation value of 54.3 billion US dollars.

The company’s achievement of penetrating the capital value of 100 billion dollars is said to be due to the positive performance shown in the company’s financial statements so far.

According to the quarter III-2020 report, the performance of Xiaomi’s financial statements has shown encouraging results, such as total revenue which grew 34.5 percent year-on-year to 72.2 billion.

In the midst of the pandemic, smartphone shipments grew 45.3% YoY to 46.6 million units, and the number of other smart devices grew 35.8% YoY to 289.5 million units.

In addition, earlier this month, Xiaomi shifted Apple’s position as the third largest smartphone manufacturer in the world, as published in a recent report from market research firm Gartner. The Chinese vendor recorded sales of 44.4 million units in the third quarter of 2020, an increase of 34.9 percent over the same period the previous year.

 

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