Hong Kong-listed Xiaomi Group became the focus of attention today, once rushing to the top of the snowball hot stock list. As of the close, Xiaomi Group's share price plummeted by more than 7%, and fell by more than 8% at most, closing at HK$16.54, with a significant increase in trading volume, and the stock price hit the largest one-day decline since October 2022, and also hit a new low in nearly 2 months.
Dragged down by the sharp fall of Xiaomi Group, Hong Kong technology stocks generally fell, with Bilibili and Haier Smart Home falling more than 5%; Jingdong Health, SenseTime, and Ali Health fell more than 4%; Hua Hong Semiconductor, Meituan, SMIC, and Ping An Good Doctor fell by more than 3%. As a result, the Hang Seng Tech Index fell nearly 3% at one point.
Hong Kong stocks were also affected by the weakening of blue chips, Master Kong Holdings, Nongfu Spring, Minmetals Resources, etc. all fell more than 7% intraday, Haier Smart Home, Xinyi Glass, etc. all fell nearly 6%, and China Overseas Land & Investment, Zoomlion, etc. fell more than 5.11%.
Recently, Lin Bin, vice chairman of Xiaomi Group, has sparked heated discussions. According to the website of Disclosure.com, on June 4, Lin Bin sold 3.333 million shares at an average price of HK$177,704 per share, cashing out about HK$59.2287 million, on June 5, he sold 3.333 million shares again at an average price of HK$178,025 per share, cashing out about HK$59.3357 million, and on June 6, he sold another 3.334 million shares at an average price of HK$180,471 per share, cashing out about HK$60.169 million.
In September 2020, Xiaomi Group announced that Lin Bin, vice chairman and executive director of the company, voluntarily promised that for five years from the date of the announcement, Lin Bin and all entities controlled by him would not sell the company's shares directly or indirectly beneficially owned by him at their discretion.
The picture comes from the official website of Sun Yat-sen University
Xiaomi responded that there was no cash-out, and the part of the reduction was for charity, of which 100 million yuan was donated to Sun Yat-sen University.
According to the previous news of Sun Yat-sen University, on April 17, Sun Yat-sen University alumni Lin Bin and Liu Xiangdong donated 100 million yuan to Sun Yat-sen University, and Gao Song, president of Sun Yat-sen University and president of the alumni association, awarded Lin Bin alumni the honorary title of first honorary director on behalf of the school.
Xiaomi Group has recently issued a series of repurchase announcements, and the latest announcement yesterday shows that Xiaomi Group will repurchase 2.5 million shares on the Hong Kong Stock Exchange on June 26, 2024, costing HK $44.5496 million. According to the number of repurchases and the cost of the repurchase, the average repurchase price is about HK$17.82, the highest repurchase price is HK$17.84, and the lowest repurchase price is HK$17.78.
According to the announcement statistics, Xiaomi Group has repurchased 55,148,200 shares in the past three months, accounting for 0.22% of the company's issued share capital.
Today, Lei Jun, founder, chairman and CEO of Xiaomi Technology, released a new message on social platforms, which sparked a heated discussion among netizens and technology enthusiasts. He said mysteriously: "Guess what's new tomorrow?" This brief message is accompanied by a promotional poster revealing that Xiaomi is about to launch a new in-car product.
Lei Jun did not reveal more information about the new product, but the official Weibo of Xiaomi Auto gave two important tips about the new product: atmosphere and colorful. According to the prompt, some netizens speculated that the new product that will be launched tomorrow may be the chassis atmosphere lamp. These lights not only enhance the visual appearance of the vehicle, but also adjust the different colors and brightness according to the preferences of the passengers, thus creating a personalized riding environment.
According to the latest data, last week (June 17 to June 23), Xiaomi delivered about 3,300 cars, temporarily ranking seventh among China's new car-making forces. This is the highest single-week delivery result set by Xiaomi Auto since it began deliveries in early April this year. According to Lei Jun's announced goal of delivering more than 10,000 vehicles in June, and this year's delivery volume will hit 120,000 vehicles.
Huatai Securities recently said in a research report that it will raise Xiaomi's 2024, 2025, and 2026 net profit forecasts under non-GAAP standards by 27%, 25%, and 26% to RMB 17.3 billion, 17.7 billion yuan, and 19.2 billion yuan. Based on SOTP's target price of HK$25, which includes a valuation of HK$3.2 per share for Xiaomi's automotive business.
For the future trend of the entire Hong Kong stocks, the first Shanghai said that the overall cautious wait-and-see atmosphere of Hong Kong stocks has not dissipated, the enthusiasm for capital participation has not yet rebounded, the pattern of stalemate is still continuing, and the market is waiting for the emergence of new news to do follow-up promotion.
Source: Securities Times, Reading and Innovation