Shares of Chinese tech conglomerate Xiaomi Corporation soared 5.93% on Tuesday, fueled by a combination of broad investor demand and growing optimism around the company's electric vehicle ambitions.
According to an analysis of Xiaomi's ownership structure, the stock benefited from substantial buying interest across multiple shareholder groups. Individual investors collectively own a 49% stake in the firm and reaped gains as the shares rallied last week. Additionally, insiders including CEO Jun Lei hold a considerable 34% ownership, closely aligning leadership interests with external shareholders.
Xiaomi's surge also coincided with reports that the company is rapidly expanding its electric vehicle manufacturing capabilities. Chinese media outlets indicated that the second phase of Xiaomi's EV factory in Beijing is slated for completion by mid-2025, with workers currently in overdrive to meet construction timelines. The tech giant entered the competitive EV market in 2021 and has quickly emerged as a major brand, having sold 70,000 units of its inaugural SU7 sedan model since March.
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