Xiaomi’s SU7 Sales Surpass 258,000 in 2025, But the Stock Is Down 42% from a Year Ago – HyperOS 4 and European Team Signal Ambition

Xiaomi's EV division hits 258,000 SU7 sales in 2025, but stock down 42% YoY. HyperOS 4 debuts, smartphone shipments fall 19% as margins hold. Board meeting May 26.

Xiaomi’s electric-vehicle division keeps gaining traction, yet the company’s stock remains stuck in a deep rut. The SU7 coupe racked up 258,000 sales in 2025, outpacing the Audi A6L in China, and deliveries in April 2026 hit over 30,000 units – an improvement on the prior month. Management is targeting 550,000 vehicles for the full year, and the high-performance YU7 GT SUV is slated to arrive by the end of May. But for all the momentum in the showroom, the equity has shed roughly 42% over the past twelve months and sits 24% below its starting point for 2026.

The auto push extends well beyond the SU7. CEO Lei Jun recently launched a referral programme that awards 8,000 points to customers who use a code and place an order, with the first ten recipients eligible. Over the next decade, Xiaomi plans to pour roughly $10 billion into its car division. A European development team has been assembled with recruits from Porsche, BMW and Mercedes-Benz, bringing expertise in exterior design and driving dynamics. Meanwhile, the Xuntian sub-brand is preparing a full-size SUV with a range extender for the second half of 2026.

On the software side, Xiaomi is overhauling its operating system. HyperOS 4 will introduce a “Liquid Glass” interface built on Rust and the Flutter framework, fully replacing the old MIUI codebase. The upgrade is expected to reach high-end models such as the Xiaomi 17 and Xiaomi 15 series first, with a launch tipped for June or September 2026 – though the company has not confirmed a date.

The smartphone business, still Xiaomi’s core revenue driver, took a step back in volume during the first quarter of 2026. Worldwide shipments fell roughly 19% year on year to 33.8 million units. The decline is deliberate: Xiaomi is shifting toward more expensive models to protect margins, and analysts expect gross margins to hold steady despite higher component costs. New devices are rolling out across price points: the Xiaomi 17 Max, featuring a 6.9-inch OLED display and an 8,000 mAh battery, is due in China by the end of May; the Redmi A7 4G lands in Europe at around €109, while the Redmi A7 Pro 4G starts at roughly €130 in Italy.

All eyes are on the board meeting scheduled for May 26, where Xiaomi will approve its unaudited first-quarter results. Goldman Sachs expects the company to beat market estimates on earnings, citing resilient margins, and maintains a buy rating. HSBC nudged its price target on the Hong Kong-listed shares higher, to HKD 54.00.

The stock closed at €3.43 in Frankfurt on Friday, up 1.74% on the day and nearly 8% higher than a week earlier. Even so, the shares remain deep in negative territory for 2026, with the 52-week high of €6.69 a distant memory. Whether the barrage of news – from SU7 sales and HyperOS 4 to the European engineering push – can finally shift the market’s mood will depend on how investors weigh Xiaomi’s long-term auto ambitions against the near-term earnings picture.