Xiaomi’s Stock Rout Faces a Gauntlet of Earnings and Auto Show Catalysts

Xiaomi faces pivotal week with Q1 earnings, Shenzhen auto show debut of YU7 SUV lineup, and AGM buyback vote as shares languish 26% below January highs.

The week ahead represents a critical juncture for Xiaomi. Two major events — the release of first-quarter earnings on Tuesday and a high-profile auto show appearance three days later — will test whether the company can reverse a 26% year-to-date slide in its share price.

The stock closed on Friday at €3.32, hovering just above its lowest level of 2025. The 200-day moving average sits far overhead at €4.44, and the relative strength index reads 75.8, suggesting the equity remains under technical pressure despite the steep decline. Investor confidence has eroded even as the underlying business delivers rapid growth in its newest segments.

Earnings in the Spotlight

On Tuesday at 19:30 Hong Kong time, management will open the books for the first quarter. The bar is high: last year, Xiaomi posted a 25% increase in annual revenue to roughly ¥457 billion, and adjusted net profit climbed sharply. The electric-vehicle and artificial-intelligence division, still nascent, posted a quarterly revenue jump of more than 123% in the final quarter of 2025.

The challenge lies on the cost side. Memory chip prices have been rising, and competition in Xiaomi’s core smartphone market remains fierce. Analysts will scrutinize margins and the pace of spending on the automotive push. The investor call that follows the earnings release is expected to provide much-needed detail on profitability trends. If cost pressures persist, the path back to that distant 200-day average will be steep.

A Price War in the Showroom

Just three days after the earnings, Xiaomi will take its automotive fight to the Shenzhen auto show, where more than 100 brands are exhibiting. The centerpiece is the revamped YU7 SUV family. The company has slashed the entry price of the standard YU7 by ¥20,000 to ¥233,500, renaming the previous base version the YU7 Long Range. At the other end of the spectrum, a sporty YU7 GT model will join the lineup at roughly ¥390,000.

The strategy targets Tesla’s Model Y directly, aiming to capture both value-conscious buyers and premium customers in one sweep. The Shenzhen event, which opens on May 29, offers a global stage for Xiaomi’s transformation from a smartphone maker into a serious automotive contender.

Buybacks and a Shareholder Meeting

After the earnings and the auto show, the next milestone lands on June 2, when Xiaomi convenes its annual general meeting in Beijing. The board is seeking authorization to repurchase up to 10% of outstanding shares, or a maximum of 2.58 billion shares. That buyback proposal carries the potential to stabilize the stock, which has lost more than a quarter of its value since January. The AGM will also consider a resolution to allow new share issuances, giving management flexibility on capital structure.

External economic data could also shift sentiment. China’s National Bureau of Statistics is due to release its latest purchasing managers’ index at the end of May, offering a read on the broader environment in which Xiaomi operates.

For now, the market remains skeptical. The stock sits near its year low, and the long-term trend points lower. Tuesday evening’s earnings call and the subsequent auto show will determine whether that trend can be broken — or whether the current slump deepens further.