On June 3, Xiaomi Group-W fell 3.11% in regular trading to HK$28.78 per share, with trading volume of HK$1.548 billion. The stock has now retreated over 54% from its historical high of HK$61.45.

The decline reflects continued market pressure following Xiaomi's Q1 earnings released on May 26. The company reported total revenue of RMB 99.1 billion, down 10.9% year-over-year, marking its first revenue decline in three years. Adjusted net profit plunged 43.1% to RMB 6.1 billion, representing the steepest earnings contraction in nearly four years. Smartphone shipments fell 19.2% to 33.8 million units, while the electric vehicle segment delivered 80,900 units but posted an operating loss of RMB 3.1 billion, swinging from profit to loss.

While the company announced a HK$20 billion share buyback plan over the next 12 months, the move has so far failed to reverse bearish sentiment. Jefferies downgraded the stock with a target price of HK$25.49 and an underperform rating, intensifying the bull-bear divide.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)