On July 3, Xiaomi Group-W rose 3.63% in regular trading, trading at HK$23.84/share, with turnover of HK$1.758 billion, extending its recent rebound momentum.

On the news front, Xiaomi Auto reported June deliveries sustained above 30,000 units, marking the third consecutive month at this level, with first-half cumulative deliveries reaching approximately 180,000 units. Citi maintained its Buy rating, noting the stock trades at 18.8x and 13.6x forecast P/E for the current and next fiscal year respectively, calling the valuation attractive and expecting a share price rebound in August driven by the upcoming YU9 launch. BlackRock recently increased its Xiaomi holdings by approximately 7.18 million shares. The company also conducted intensive buybacks, repurchasing 4.5 million shares on June 30 at a cost of approximately HK$97.37 million. Goldman Sachs previously reaffirmed its Buy rating with a 12-month target price of HK$40, citing a catalyst-rich period in Q3 across smart EV and AI segments.

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