Xiaomi's market value tops $100 billion, reaching 2018 IPO goal

Xiaomi in November reported its fastest quarterly sales growth in two years, while earnings beat analysts' estimates

Xiaomi Corp. founder Lei Jun can finally rejoice after the Chinese smartphone maker’s market value swelled past the $100 billion mark, a figure his company fell far short of when it listed two years ago.
 

The firm’s stock rallied as much as 9.1% Wednesday to a fresh record in Hong Kong, making it the 13th stock in the city’s benchmark Hang Seng Index to have a market capitalization above $100 billion. It ended the day 7.6% higher with a market value of HK$802 billion ($103 billion).

Xiaomi, which generates the majority of sales from its