On June 22, Xiaomi Group-W declined 3.17% in regular trading, trading at 23.72 HKD/share, with turnover of 7.0 billion HKD. The stock touched fresh lows as multiple headwinds converged.

On the news front, Xiaomi's previously disclosed Q1 results showed significant deterioration in fundamentals. Total revenue came in at 99.1 billion yuan, down 10.9% year-over-year and 15.2% quarter-over-quarter. Adjusted net profit fell sharply to 6.1 billion yuan, representing a 43.1% year-over-year decline and 4.4% sequential drop. The weak earnings continue to erode market confidence.

Adding to the pressure, the broader Technology Hardware sector is trading lower, with Lenovo Group down 0.59% and Huaqin Technology down 2.77%, reflecting subdued sector-wide sentiment. Macroeconomic headwinds in the auto sector also weigh on Xiaomi's EV business outlook, with May auto retail sales declining 16.1% year-over-year. The stock has now fallen over 58% from its historical high, recording nine consecutive months of declines. While Xiaomi announced a 20 billion HKD buyback program and repurchased 8 million shares on June 18, the measure has yet to arrest the selling pressure.

(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.)