Xiaomi has reached a new record high in its share price, surpassing HK$40 and achieving a market capitalization of HK$1 trillion for the first time. This surge is attributed to strong smartphone sales and the company's expansion into the electric vehicle (EV) market. The Hang Seng Index also experienced a notable rise, increasing by over 3% on the same day, while the Hang Seng Tech Index extended its gains, rising by 4.5%. Over the past year, the Hang Seng Index has increased by 34%, outperforming the S&P 500 and Nasdaq, which rose by 21% and 24% respectively. As Xiaomi continues to expand its EV business, its valuation has reached approximately $128.4 billion.