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<Research>Haitong Int'l: Xiaomi Auto's Jun Sales Sink MoM; Current Pressure on Delivery Side; YU7 Monthly Delivery 40K+ Units by Yr End
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There are now too many people waiting in line for Xiaomi cars in Mainland China, therefore, the company will prioritize solving domestic delivery issues over the next two years and will consider exports around 2027, Lei Jun, founder of XIAOMI-W (01810.HK), revealed. XIAOMI-W opened 0.7% lower this morning before further subsiding, hitting an intraday low of HKD57.15, down nearly 5%. At midday, it closed at HKD57.5, down 4.4%, with a turnover of HKD8.379 billion. LEAPMOTOR (09863.HK) spiked 3.5%. Haitong International published a report on the Chinese automotive industry, noting that major Chinese automakers have announced their June sales figures one after another. To boost half-year sales, mainstream manufacturers are launching intensive promotional offers to capture market share. Looking ahead to 2H25, as regulatory efforts continue to intensify, the broker assumed that the price war may de-fuse progressively, with the focus of competition shifting to service upgrades, quality and price balance, and technological iteration. Xiaomi Auto's June sales surpassed 25,000 units, a MoM downfall of about 3,000 units. The YU7 was launched on June 26, securing orders for over 240,000 units within 18 hours. The current main pressure is on the delivery side, and the pace of capacity release in the second phase of the factory will be a key variable. The broker expected YU7's single-month delivery to top 40,000 units by the end of the year. AASTOCKS Financial News Website: www.aastocks.com |
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