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XIAOMI-W Briefly Reverts Up, Hits New High of HKD58.75
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XIAOMI-W (01810.HK) opened 1.13% lower today (19th) but briefly rebounded, peaking at a new high of HKD58.75, before sliding again. It last printed at HKD57.45, down 0.35%, with a trading volume of 142 million shares and a turnover of HKD8.163 billion. Last year, Xiaomi’s net profit rose 35.4% YoY to RMB23.658 billion. Under non-IFRS measures, adjusted net profit reached a record RMB27.235 billion, up 41.3% from 2023. Revenue for the period grew 35% YoY to a historic high of RMB365.906 billion. By segment, smart electric vehicle revenue totaled RMB2.1 billion, with the Xiaomi SU7 series achieving deliveries of 136,800 units. The group stated it will expand production capacity to ensure delivery commitments. President Lu Weibing noted that Xiaomi’s automotive business is preparing for international expansion, with plans to launch overseas in 2027. Regarding the smartphone market, he said the competitive landscape in mainland China is currently sturdy, with major players holding closely matched market shares. However, over the next 3-5 years, differentiation is expected to widen, with leading brands growing stronger. Xiaomi aims to increase its market share by 1 ppt annually. AAStocks Financial News |
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