On July 16, Xiaomi Group-W rose 6.19%, trading at 27.46 HKD/share. Multiple catalysts converged to drive the stock higher.

On the news front, Xiaomi's on-device large language model MiMo officially passed China's national AI model filing on July 15, making Xiaomi one of the first smartphone manufacturers to receive such approval. The model is set to empower AI upgrades across Xiaomi's full person-vehicle-home ecosystem.

Buyback momentum also provided support. On July 15, the company repurchased 3.9 million B-class shares on the Hong Kong Stock Exchange at prices between 25.74–25.88 HKD per share, spending approximately 100.7 million HKD. Since the buyback authorization passed on June 2, Xiaomi has cumulatively repurchased 79.825 million shares, representing 0.31% of issued shares.

Additionally, Goldman Sachs recently reiterated a Buy rating with a 12-month target price of 40 HKD, citing rich catalysts in Q3 including the upcoming launch of the SkyNomad SUV series, with projected deliveries of 110,000 units in the current year.

(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.)