On August 20, XIAOMI-W rose 3.13% in regular trading, trading at HK$28.42/share, with turnover of HK$1.359 billion, extending gains following its Q2 earnings release and new product catalysts.

The continued upside follows multiple positive developments. On August 19, Xiaomi unveiled its new-generation humanoid robot at the World Robot Conference, featuring 66 degrees of freedom and targeting automotive factory deployment. Barclays issued a report stating Xiaomi's AI strategy is severely underestimated by the market, maintaining an Overweight rating with a US$30 target price implying 82% upside. Q2 revenue reached 108.9 billion yuan, up 9.9% sequentially, with smart EV and AI business revenue growing 17.1% YoY to 24.9 billion yuan. Q2 vehicle deliveries reached 104,199 units, up 28.2% YoY. Management signaled memory cost pressures are easing in H2, with the new Xuanjie chip and Pengcheng vehicle series set to launch in September.

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