Xiaomi Corp., a Chinese technology giant, has ramped up its activity in the financial markets by announcing plans to sell shares worth up to $5.3 billion. This move leverages the significant rise in its stock price and is aimed at funding the expansion of its electric vehicle (EV) business, highlighting a strategic shift in its operations.

Xiaomi Corp., known for its innovative electronic products, is making significant strides in the electric vehicle market. The company has increased its planned production volume of electric vehicles to 350,000 units by 2025, highlighting its ambitious goals and commitment to capturing a share of the rapidly growing market.

Shares of Xiaomi Corp. $1810.HK captured attention on the Hong Kong stock market on Friday as their value soared to a new record. This surge is attributed to the launch of new products and government subsidy programs being implemented in China.