XIAOMI-W (01810) surged more than 3%, reaching HK$44.56 by the time of writing, with a trading volume of HK$3.855 billion. The company reported that its total payment volume across all channels during the Double 11 shopping festival surpassed RMB 29 billion by 23:59:59 on November 11. This year, XIAOMI offered discounts of up to RMB 4,000 per item, with total promotions valued at RMB 2 billion, covering smartphones, electronics, and home appliances.

Guosheng Securities noted that XIAOMI's ongoing optimization of its smartphone product mix may positively contribute to its gross margin. However, due to rising costs from the global memory chip price surge, the brokerage expects the company's Q3 and Q4 smartphone gross margin to remain around 11%. Additionally, while reduced government subsidies could impact growth in the home appliance sector, XIAOMI's product quality and supply chain management are likely to sustain its competitiveness in the IoT segment.