Xiaomi Trims Buyback Tab While BofA Cuts Q3 Revenue View

Xiaomi bought back 1.66 million B-shares on the Hong Kong exchange, spending HK$49.9 million according to media reports, with the repurchased stock set to be cancelled. The execution prices ranged from HK$30.08 to HK$30.24 per share, and the stock was down 1.2% in today's session.

The buyback lands alongside a flurry of corporate activity. On Thursday, Xiaomi disclosed the issue of roughly 1.6 million B-shares from exercised employee options, drawn from its monthly report on securities movements for October. The company received USD 402,529 from that issuance.

Overseas Push for the Car Business

Xiaomi Auto has set up an international business unit and named Vice President Yu Liguo as its general manager, media reports said Friday. The new division covers international sales and market development, and also takes in delivery and customer service.

That overseas build-out comes as the EV arm rides a strong run at home. Xiaomi reported more than 50,000 electric vehicles delivered in October — the highest monthly figure of the year, per Reuters. Cumulative deliveries from January through October reached about 336,000 vehicles, against a full-year target of 550,000 for 2026.

On the handset side, Xiaomi said on its official X account on November 2 that the Xiaomi 18 Pro series will launch globally in November.

Robots Clock In at the Plant

Manufacturing is getting attention too. Media reports on Wednesday said Xiaomi showed humanoid robots working an eight-hour shift at its own car plant for the first time, sorting trim parts for vehicle assembly. The robots took two charging breaks during the stint, with a reported total duration of eight hours and five minutes.

Separate reports on November 3 described tests of Xiaomi robots in a Xiaomi residential complex, covering more than 30 minutes of autonomous work and over 50 household tasks. Those trials complemented the reported deployment in the assembly area of the car plant.

R&D Budget and a Trimmed Forecast

Vice President and CMO Xu Fei said at the World Media Summit on Saturday that Xiaomi plans to spend RMB 200 billion on research and development over the next five years. More than RMB 105.5 billion flowed into the area over the past five years, according to company figures. Xu also discussed the use of Xiaomi technology and its connected ecosystem in media communication.

Bank of America reaffirmed its buy rating on Xiaomi on November 2 but cut its Q3 2026 revenue estimate by 6% to 105 billion yuan. The bank cited subdued IoT demand in China and electric vehicle deliveries falling short of expectations as the drags.