** Xiaomi 1810.HK rises 6.2% to an all-time high of HK$43.05, boosting market capitalisation exceeding HK$1 trln mark at HK$1.072 trln ($137.67 bln)

** Stock set for fourth consecutive session of gains

** Co will explore ways to ramp up auto production, founder Lei Jun says

** Adds luxury version of flagship EV SU7 Ultra will be launched at February-end; sales target at 10,000 units this year

** HSBC raises Xiaomi's 2025 EV delivery volumes estimate to 330,000 units from 304,000 units on "additional capacity" of co's car factory

** Adds Xiaomi becoming key beneficiary of nationwide subsidy programme with strong sales momentum in smartphones and is well-positioned to ride the wave of proliferation of AI edge devices across its AIoT platform, triggered by DeepSeek-R1

** Retains "buy"; lifts TP to HK$49.90 from HK$37.90

($1 = HK$7.7868)

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))