Hong Kong Stock Market Review: Xiaomi

Xiaomi performed well in Q3, with a car gross margin rising to 17.1%. The next generation of budget models is expected to be produced in the first half of next year. Lei Jun announced that the Xiaomi SU7 Ultra production version will be released on October 29th. The competition in the smartphone market is fierce, but Xiaomi's market share increased to 14% in Q3. The company will focus on developing white goods in the future, aiming to rank among the top three in the domestic air conditioning market and planning to enter Southeast Asia. The gross margin of the AIoT business is steadily increasing, and it is expected to become an important revenue driver in the future