Xiaomi Hits Fresh Record High on China’s Subsidy Program Boost
This article is for subscribers only.
Xiaomi Corp.’s shares surged to a fresh record in Hong Kong on Friday, as new product launches and benefits from China’s nationwide subsidy program burnished the company’s sales outlook.
The stock has rallied 12% this week, after the company said it will release two new products — a high-end SU7 Ultra vehicle and 15 Ultra phone — by month-end. Its existing smartphones also got a boost from China’s increased consumer subsidies.