Shares of Xiaomi jumped 8.95% on Wednesday to close at 31.88 Hong Kong dollars, adding 2.62 Hong Kong dollars, as investors positioned ahead of the Chinese technology company's launch event for two new sport utility vehicle models scheduled for Thursday. The rally builds on gains from earlier in the week, with Xiaomi shares having already climbed as much as 7.7% on Monday to reach their highest level since June 3, according to trading data. Analysts have also pointed to broader dynamics within China's memory chip sector as a potential additional tailwind for Xiaomi shares, given the company's investment ties to the domestic chip industry. The blockbuster debut for CXMT appeared to provide an additional boost to sentiment around Xiaomi more broadly, given the strategic relationship between the two companies. Xiaomi's broader business results have shown substantial growth over the past year even as the stock's performance has been volatile.