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[hfe_template id='11223'] [ad_1] The quadrupling of Xiaomi Corp.’s share price in a little more than a year has made it one of China’s most-expensive tech stocks, raising the stakes for its upcoming results and electric SUV launch. The Hong Kong-listed stock is trading at 38 times forward earnings estimates, about double the level for Tencent Holdings Ltd. and even above US giants including Apple Inc. Xiaomi’s shares have surged around 340% from a February 2024 low, adding more than $130 billion to its market value. The company won investors over by duplicating its smartphone success in China’s crowded EV market. Now it needs to show that its share performance is justified, amid market caution over the firm’s ability to execute lofty growth plans and maintain its sales trajectory. “The current valuation is approaching a level that prices in near-perfect execution,” according to Bing Yuan, a fund manager at Edmond de Rothschild Asset Management. “There should not be much ...