Since September, Stock Connect has increased its holdings in Xiaomi by 28 billion!

Analysis of Stock Connect Holdings Changes for Xiaomi Group

1. Comparison of Shareholding Ratios

Stock Connect shareholding ratio in September: Approximately 14.6%-14.7%

• As of September 24, 2025: 14.60%
• As of September 12, 2025: 14.71%

Latest shareholding ratio: 16.80% (as of December 10, 2025)

Increase in shareholding ratio: Approximately 2.1-2.2 percentage points

2. Calculation of Additional Investment Amount

1. Calculate changes in shareholding quantity

• Total shares of Xiaomi Group: 26.028 billion shares (as of September 29, 2025)
• Shareholding quantity in September: Approximately 3.8 billion shares (26.028 billion shares × 14.6%)
• Latest shareholding quantity: Approximately 4.37 billion shares (26.028 billion shares × 16.8%)
• Net increase in shareholding: Approximately 570 million shares

1. Estimate additional investment amount

• Stock price range in September: Approximately HKD 54-57
• Latest stock price (December 12): HKD 42.96
• Average price during the period: Approximately HKD 46-50 (median HKD 48)

Estimated additional investment amount: Approximately HKD 27.36 billion (570 million shares × HKD 48)

3. Details of Actual Additional Investments (Partial Periods)

• November 20 - December 8: Cumulative net purchases of approximately HKD 8.409 billion
• Week of December 10: Net purchases of HKD 4.027 billion, adding 97.6106 million shares
• Week of December 8: Net purchases of HKD 1.431 billion, adding 33.4423 million shares
• Week of November 25: Net purchases of HKD 2.533 billion, adding 65.5084 million shares

4. Conclusion

From September to December, Stock Connect accumulated additional investments of approximately HKD 27-28 billion in Xiaomi Group, increasing the shareholding ratio from 14.6% to 16.8%, a rise of about 2.2 percentage points, indicating sustained confidence from mainland capital in Xiaomi's long-term value.

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