On June 10, Xiaomi Group-W declined 3.01% in regular trading, trading at HK$26.24/share, with trading volume of HK$1.483 billion.

On the news front, a Xiaomi SU7 Ultra spontaneously caught fire while driving on Nanchang Hero Bridge in Jiangxi Province on June 7, with the entire vehicle engulfed in flames. Xiaomi officially responded that preliminary investigation ruled out battery spontaneous combustion or thermal runaway, stating the power battery was operating normally with no abnormal signals prior to the fire. The exact cause remains under investigation by fire authorities.

Adding to market unease, a separate SU7 Ultra fire incident occurred in Qingdao involving a collision with flammable items in the passenger seat, which Xiaomi's vice president attributed to external causes. Meanwhile, fundamental pressures persist as Xiaomi reported Q1 total revenue of RMB 99.14 billion, down 10.9% year-over-year, with adjusted net profit of RMB 6.07 billion, down 43.1%. The combination of safety-related incidents and weakening earnings weighed on market sentiment.

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