$XIAOMI-W (01810.HK)$ After opening lower, it turned to increase, as of the time of writing, up 1.16%, reported at 39.35 Hong Kong dollars, with a transaction amount of 5.634 billion Hong Kong dollars.

On the news front, a spokesperson for Xiaomi stated that the company recently discovered that rumors related to the Insurance for Xiaomi SU7 have been organized and spread. Here is a stern clarification: after confirming with the five major insurance companies cooperating with the company, all of the aforementioned companies stated that they have never issued any notice of refusal of insurance, and the related documents are indeed forged. Moreover, verification by industry peers shows that the forged documents do not conform to the internal document formats, writing standards, and seal usage norms of insurance companies. Currently, the insurance service for the SU7 model is stable and normal, and the information circulating online is seriously misleading; additionally, the rumor that 'the claim rate of SU7 is several times that of other vehicles in the same price range' is equally baseless.

Daiwa released a Research Report stating that XIAOMI Group's stock price has performed weakly after the car accident and the placement, but believes the decline presents an attractive buying opportunity due to its strong fundamentals. The report pointed out that in recent years, Apple’s market share in China’s smart phone market has continuously decreased, and it believes XIAOMI's smart phones will gain more cross-selling opportunities from high-end users, thus capturing more market share in the future. The report also believes that XIAOMI's IoT business still has considerable growth potential in the coming years, as the company continues to focus on products with higher marginal profits and develop overseas expansion plans. The report anticipates that the group will continue to grow in the electric vehicle market, bringing more synergy benefits.

Editor/Rocky