On June 26, Xiaomi Group-W fell 3.32% in regular trading, trading at HKD 21.52/share, with turnover of HKD 560 million, hitting a new year-to-date low.

On the news front, Xiaomi reported Q1 total revenue of RMB 99.1 billion, down 10.9% year-over-year, with adjusted net profit of RMB 6.1 billion, plunging 43.1% YoY — marking its first simultaneous revenue and profit decline in nearly four years. The smartphone segment saw gross margin contract from 12.4% to 10.1%, while EV business losses widened, with both core businesses under pressure dragging down earnings expectations.

Additionally, institutions that participated in the HKD 42.5 billion placement completed in March last year at HKD 53.25 per share are now facing unrealized losses exceeding 55%, intensifying selling pressure and dampening market sentiment. Despite the company executing aggressive buybacks — including HKD 200 million on June 25 — and Goldman Sachs reiterating a Buy rating with a HKD 40 target price citing Q3 catalysts, short-term market confidence remains weak.

(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.)