--- title: "Inside the HK Market's Mixed Bag: Xiaomi's EV Push and SJM's Casino Overhaul" type: "News" locale: "en" url: "https://longbridge.com/en/news/292181080.md" description: "A diverse group of Hong Kong-listed companies is showing divergent paths this week. Xiaomi's EV delivery targets are accelerating, XtalPi is rolling out a new AI agent, while Yongkang Holdings surprisingly pulled its IPO despite massive oversubscription." datetime: "2026-07-09T10:03:11.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/292181080.md) - [en](https://longbridge.com/en/news/292181080.md) - [zh-HK](https://longbridge.com/zh-HK/news/292181080.md) --- # Inside the HK Market's Mixed Bag: Xiaomi's EV Push and SJM's Casino Overhaul The Hong Kong market is currently digesting a flurry of idiosyncratic updates across various sectors. I'm told that heading into the second half of the year, several tech, manufacturing, and consumer companies are overhauling their strategic roadmaps following a string of pivotal earnings and IPO moves. This marks the most significant reshuffle of expectations for these entities since late last year. ### Xiaomi (81810.HK) Xiaomi is continuing its aggressive expansion into the EV market, and its shares have been showing resilience amid recent broader market volatility. According to people familiar with the matter, the company's production lines are running at full tilt to meet surging demand. Retail sales of Xiaomi vehicles hit **34,738 units** in June 2026 alone, with the SU7 wholesale volume surpassing 20,000. Having delivered around 80,000 units in Q1, the company is targeting an even steeper production ramp-up later this year. ### Goldwind (2208.HK) The wind turbine manufacturer is leaning heavily into its international expansion. I'm told the company secured its first wind power order under Brazil's FINAME financing framework in January 2026, totaling over **470MW**. Domestically, Goldwind recently emerged as the leading candidate for a 600MW project in Gansu with a **RMB 776 million** bid. Q1 total revenue jumped 63.48% to **RMB 15.48 billion**, signaling a solid margin recovery. ### XtalPi (2228.HK) Following its recent public market debut under the 18C rules, XtalPi's stock has trended upward over the past month. I'm told the company officially launched its specialized AI agent, epiXora, for pharmaceutical research in July 2026. This follows a massive **USD 400 million** strategic AI drug discovery partnership struck in June. The company's 2025 revenue surged 201.2% to **RMB 802.6 million**, largely driven by its drug discovery solutions. ### Rigol Technologies (0537.HK) & Binhua Group (6745.HK) Both manufacturing names issued strong profit alerts for H1 2026. Rigol expects net income to grow up to 162.84%, reaching **RMB 42.62 million**, driven by robust demand in the semiconductor and new energy sectors. Meanwhile, Binhua Group is projecting a 208.25% jump in net profit to **RMB 344 million**, capitalizing on a significant rebound in global chemical material prices. ### Also - **Yongkang Holdings (2523.HK) & Qiyunshan Food (2797.HK):** It's a tale of two IPOs. While Qiyunshan Food priced its offering after being 1,688 times oversubscribed, Singaporean container operator Yongkang Holdings shocked the market in July by scrapping its global offering entirely and returning application funds, despite a reported 8,964x preliminary oversubscription rate. - **China Merchants Bank (3968.HK):** The bank's wealth management ecosystem continues to scale. By the third quarter of 2025, its retail total assets under management (AUM) reached a staggering **RMB 16.60 trillion**. - **SJM Holdings (0880.HK):** The Macau casino operator is still navigating a rocky recovery, with Q1 2026 net gaming revenue dropping 22.8% to **HKD 5.36 billion**. The company is systematically shutting down the operations of seven satellite casinos before the end of 2025. - **SITC International (1308.HK):** The intra-Asia shipping logistics company issued **11.54 million** shares under its share award scheme in May 2026. _This article does not constitute investment advice._ ### Related Stocks - [81810.HK](https://longbridge.com/en/quote/81810.HK.md) - [02208.HK](https://longbridge.com/en/quote/02208.HK.md) - [02228.HK](https://longbridge.com/en/quote/02228.HK.md) - [06745.HK](https://longbridge.com/en/quote/06745.HK.md) - [02523.HK](https://longbridge.com/en/quote/02523.HK.md) - [02797.HK](https://longbridge.com/en/quote/02797.HK.md) - [03968.HK](https://longbridge.com/en/quote/03968.HK.md) - [01308.HK](https://longbridge.com/en/quote/01308.HK.md) ## Related News & Research - [SITC International opens 36,000-sq-m Da Nang container depot in Vietnam](https://longbridge.com/en/news/292260517.md) - [CMB International co-leads Dingtai Hi-Tech Hong Kong IPO at HK$ 380 per share](https://longbridge.com/en/news/292138714.md) - [Alibaba just had its best day in 10 months. 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