Xiaomi-W (01810) shares defied the broader market's weakness on Thursday afternoon, rising nearly 2% before paring gains to trade 1.53% higher at HK$26.58, with turnover reaching HK$1.716 billion.

The move follows the company's autumn product launch event held on the evening of September 23, where Xiaomi unveiled the Mi 18 Pro and Mi 18 Pro Max models, priced from RMB 5,999 and RMB 6,999 respectively. Positioned as dual-size imaging flagship devices, the new series is touted as the biggest upgrade in the digital lineup's history.

Citi believes the launch strengthens Xiaomi's premiumisation strategy while reinforcing its value-for-money positioning. The brokerage flags shipment data and third-quarter results as the next key catalysts for the stock.

The investment bank noted that starting prices for the 18 Pro series are significantly higher than the 17 series, a move consistent with Xiaomi's strategy to expand its share of the high-end smartphone market.