Understanding the Market | Xiaomi Corporation-W fell over 4% again, Xiaomi Auto is caught in a recall storm, with April delivery volume decreasing by 3.4% month-on-month to 28,000 units

Xiaomi Corporation-W fell more than 4% again, as of the time of publication, down 4.15% to HKD 48.5, with a transaction volume of HKD 6.34 billion. In terms of news, recently, Xiaomi Auto has once again fallen into a public opinion whirlpool, with many car owners demanding refunds. According to Yicai, several prospective owners of the SU7 Ultra believe that the high-priced optional carbon fiber dual air duct front hood has issues with false advertising. On the evening of May 7, Xiaomi Auto publicly apologized and launched a compensation plan, but many consumers do not accept this plan and are advocating for a no-loss refund. Reports indicate that several prospective owners of the SU7 Ultra have formed a rights protection group, with the number of people advocating for a no-loss refund exceeding 300. Notably, according to an official WeChat post, Xiaomi Auto's delivery volume in April decreased by 3.4% month-on-month to 28,000 units, marking the first negative growth. Xiaomi's chairman Lei Jun expressed on his personal social media platform that "the past month has been the most difficult time since the establishment of Xiaomi." This comes less than two months after the high-speed combustion incident involving the Xiaomi SU7 on March 29