MSXIAMI@EP2608A

Earning season giving more opportunities to all of us

$HSTECH 7xLongSG271216(SYHW.SG)If it breaks above 5,000 and holds, I would also consider adding, because that would indicate stronger momentum.

The main reason I like HSTECH at these levels is that you get exposure to Tencent, Alibaba, Xiaomi, Meituan, JD, SMIC and other Chinese technology companies without having to pick individual stocks.

I'd treat it as a higher-risk growth allocation, not as a replacement for the DBS/OCBC-type dividend holdings.

Hesai 2Q26 First Take: results were broadly in line, but the print again highlights the core issue — lidar pricing pressure remains steep. Details below.

① Total revenue was RMB 860 mn (+22% YoY), roughly in line. It came in near the low end of the RMB 850–900 mn 2Q26 guidance range. New biz SGI (currently mainly Kosmo) contributed RMB 40 mn; excluding this, core lidar revenue was ~RMB 810 mn with YoY growth slowing to ~16.5%, below street expectations.

② Core lidar revenue missed, and ASP declines continued. Pricing remained on a downward trend.

On shipments, 2Q26 units were 628k, below company guidance of 650k and the street’s 637k. This was mainly due to softer-than-expected ADAS passenger-car lidar sales, likely tied to pressure on NEV market growth and slower growth at key customers Xiaomi and Li Auto.

On pricing, the blended 2Q26 lidar ASP was just RMB 1,297, down 35% YoY and below the street’s RMB 1,350. This was likely driven by the following:

a. Intensifying competition: rivals such as RoboSense’s EMX series have narrowed the product gap. As the leader, Hesai ceded its historical 10–20% pricing premium to trade price for volume and defend share.

b. The ATX dedicated versions for high-volume customers like BYD and Geely are priced at ~RMB 800. As their mix increases, the ATX line ASP moves lower.

c. The FTX blind-spot lidar ASP is guided at ~US$100. As blind-spot lidar weighs more in the mix, it structurally drags the blended ASP.

③ GPM held the 40% line: 2Q26 GPM was 40.1%, slightly above the street’s 39.5% and up 100bps QoQ. Despite rapid ASP declines, the 40% threshold held. This reflected scale benefits from higher QoQ shipments, localization and high integration of the main SoC, and in-house SPAD integration reducing costs.

④ OP missed on higher opex: 2Q26 OP was just RMB 2 mn vs. street at RMB 50 mn. The shortfall was mainly driven by higher R&D, with increased investment in the robotics new biz. Management had previously indicated a forward-looking RMB ~200 mn investment in 2026.$Hesai(HSAI.US)

2Q26 First Take on Xiaomi: Most headline metrics were broadly in line with the Street.

As the stock slid from HK$61 to below HK$30, the business headwinds were well understood by the market.

With the share price depressed, investors care more about what comes next.

1) Traditional biz: risk of further deterioration.

2) Auto 550k target: with only 216k delivered in the first seven months, will management lower full-year guidance after the print?

3) Other watchpoints (Xiaomi Auto overseas, AI, robotics): limited near-term P&L impact.

This print suggests the legacy biz has not yet stabilized in Q2, with smartphone GPM holding at a relatively low 8.5% and IoT still down a bit over 20% YoY.

With only 216k delivered in the first seven months, meeting the prior 550k full-year target implies 334k over the next five months (avg. 66.8k/month), which is highly challenging.

Earnings today come mainly from the legacy biz and autos, and the stock likely finds a floor only when the legacy biz stops falling.

Deliveries start in Sep., so for now they are both a blind box and a source of hope.

⚡ 𝐔𝐏𝐃𝐀𝐓𝐄: Xiaomi Sees Memory Price Increases Easing in H2, but Storage Costs Staying Elevated - $Micron Tech(MU.US) $Sandisk(SNDK.US) $SK Hynix(SKHY.US)

Today marks earnings day for Xiaomi (1810), Baidu (9888) and Fuyao Glass (3606).

I am watching these stocks closely, as I have keen interest in them.

Xiaomi and Baidu are two of China’s biggest tech giants while Fuyao Glass is a leading supplier of automotive glass for electric vehicles.

In addition, yesterday 30 years US treasury hit highest level since 2007, 5.311% on inflation fears. Investors should be aware that 30-year yield is not just a bond number it is the global discount rate. Do watch it closely, especially for tech, growth, and REITs. they’re the most sensitive to moves in long-term rates.

FYI, latest news from CNA, Investors price 30% chance of Fed increase interest rates.

Happy trading to everyone.😁

$XIAOMI-W(01810.HK)

Today is Xiao mi 1H earnings, after HK market close. I am staying convicted to my Xiaomi hold, even with a 16.48% unrealised loss right now. I never give up.😉

Bought at average HKD 30.989, trading at HKD 25.88 now. The current short‑term price swings do not change the bigger picture.

I am fully confident in today’s earnings. Xiaomi’s EV push, smart ecosystem, and global growth story remain strong. I am here for the long haul and not daily moves. 🚀

Are you sharing the same conviction with me🤔?

Looks like money is rotating back to AI and specifically stocks that benefit from the buildout after they retreated in a healthy pullback.

AI investments are still bullish across the board. Investors all want a pie of it. FOMO and leverage will push AI related stocks higher. But isit bubble?

☕️ Nividia trimmed its OpenAI’s massive bet to ease risk concerns, while unveiling a $21B SpaceX stake — two giants rubbing each other’s backs, balancing AI risk with cosmic ambition. 🚀

Today launched 2 major 🚀🚀 Falcon 9 simultaneously, at only 38.5 minutes apart. By EM at X. Hope this is another good week!

Singapore's non-oil domestic export value rose 24.2% year-on-year in July, continuing the 20.8% increase from June, driven by a surge of 112% in electronics shipments due to strong demand for hard disk drives, personal computers, and chips.

If the Middle East situation stabilizes and oil prices fall, increasing exports of petroleum processed products, the economic situation will improve further.

We remain bullish on Singapore's stable growth prospects.