On August 11, XIAOMI-W declined 3.04% in regular trading, trading at HKD 26.80 with turnover of HKD 1.95 billion, as a bearish JPMorgan research note coincided with a broad pullback in Hong Kong-listed auto stocks.

JPMorgan issued a report stating it expects Xiaomi to report flat second-quarter results, citing smartphone gross margin pressure, slowing IoT growth, and weakening EV momentum ahead of new model launches. The bank noted that Xiaomi's full-year target of 550,000 electric vehicles now appears difficult to achieve, and a potential downward revision could establish a short-term floor for the stock price.

Simultaneously, the Hong Kong auto sector experienced a collective retreat, with NIO falling 3.00%, Geely down 2.68%, and BYD declining 2.11%, amplifying selling pressure on XIAOMI-W through sector linkage. The company's next earnings report is scheduled for August 18, and the market appears to be pricing in pessimistic expectations ahead of the results window. Separately, CLSA previously projected Xiaomi's Q2 adjusted net profit could fall 44% year-on-year to RMB 6.1 billion.

(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.)