Xiaomi stock falls 3.96 percent as EV deliveries top 40,000

Published on 10/04/2026 at 14:34 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Xiaomi stock fell 3.96 percent to HKD 24.24 on October 2, 2026, while September EV deliveries topped 40,000. First-half adjusted net profit fell 42.8 percent.

Xiaomi Corp., KYG9830T1067, Illustration mit AI erstellt.

Xiaomi Corporation (KYG9830T1067) stock fell 3.96 percent to HKD 24.24 on the Hong Kong Stock Exchange on October 2, 2026, as the company balanced rising electric vehicle deliveries against weaker first-half profitability. Boerse Express reported that September deliveries topped 40,000 vehicles, while deliveries from January through September exceeded 286,000.

EV deliveries pass 40,000

The September figure gives Xiaomi a material operating counterweight to the pressure visible in its latest reported accounts. The company is expanding beyond smartphones and connected devices, but the vehicle business still carries a profitability question for shareholders.

The same Boerse Express report said Xiaomi planned to present additional first-month figures for the Pengcheng model on October 7, 2026. That date gives the market a near-term checkpoint for judging whether the new model can sustain the delivery pace.

Profit pressure remains visible

In the six months ended June 30, 2026, Xiaomi reported total revenue of CNY 208.06 billion, down 8.4 percent year over year, while adjusted net profit fell 42.8 percent to CNY 12.29 billion, according to Stockstar. Innovation businesses including smart electric vehicles and AI generated CNY 44.8 billion, up 12.3 percent, but the smart vehicle operation posted a CNY 5.7 billion loss in the same period.

Research and development spending reached CNY 18.2 billion, equal to 8.7 percent of first-half revenue, while the vehicle business reported a 19.6 percent gross margin. The contrast is clear: Xiaomi is adding scale in new businesses, but investment and component costs are compressing earnings.

HSBC target stands above price

HSBC started coverage with a Buy rating and a HKD 33.20 price target, as reported by Boerse Express on September 30, 2026. The target lies 37.0 percent above the HKD 24.24 reference price, making margin recovery and delivery execution the central valuation tests.

Stock trades near yearly low

Xiaomi was last at HKD 24.24 on October 2, 2026 at 4:08 p.m. HKT, with a session range of HKD 23.74 to HKD 24.70 and volume of 129,412,251 shares. Its 52-week range was HKD 21.30 to HKD 54.80, while market capitalization stood at HKD 626.8 billion.