Xiaomi Auto Achieves Over 405 Million Kilometers in Total Mileage During Spring Festival, with a Record Single Journey of Over 10,000 Kilometers
Travel Statistics: During the 2026 Spring Festival holiday, XIAOMI-W car owners traveled across 369 cities, covering over 405 million kilometers in total mileage.
Driving Records: The longest single car driving distance recorded was 10,718 kilometers, with assisted driving contributing to 100 million kilometers of the total mileage.
Single-Day Usage: The longest single-day usage by a car reached 1,819.6 kilometers, showcasing the capabilities of XIAOMI-W's vehicles.
Market Data: As of February 25, 2026, XIAOMI-W's stock experienced a short selling of $601.12 million, with a short selling ratio of 17.683%.
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Short Selling Activity Reaches $38.4B, Representing 22.8% of Eligible Securities Turnover by Midday
Short Selling Turnover: The short selling turnover in the Hong Kong market reached $38.4 billion at midday, accounting for 22.8% of the eligible securities turnover, an increase from 19.3% on the previous trading day.
Top Short Selling Shares: The top five shares with the highest short selling amounts include TRACKER FUND (02800.HK) with $8.62 billion, CSOP HS TECH (03033.HK) with $2.97 billion, and XIAOMI-W (01810.HK) with $1.59 billion.
Short Selling Ratios: TRACKER FUND has the highest short selling ratio at 49.3%, followed by CSOP HS TECH at 39.3% and XIAOMI-W at 36.9%.
Other Notable Stocks: HSCEI ETF (02828.HK) and BYD COMPANY (01211.HK) also featured in the top five, with short selling amounts of $1.32 billion and ratios of 20.3% and 28.3%, respectively.
HSI Drops 876 Points or 3.5% at Midday; Gold, Silver, and Resource Stocks Fall; Certain Auto Stocks Still Gain
Market Overview: The Hang Seng Index (HSI) fell 3.5% to 24,400, with significant declines in the HSCEI and HSTECH, reflecting a total market turnover of HKD192.375 billion.
Tech Sector Performance: Major tech stocks like TENCENT, BABA-W, and MEITUAN-W experienced declines of 1.9% to 3.7%, with high short selling ratios indicating bearish sentiment.
Gold and Silver Stocks: Gold and silver stocks faced substantial losses, with companies like CHINAGOLDINTL and ZHAOJIN MINING dropping 4.5% to 6.2%, while ZIJIN MINING reported a profit increase but still saw a 5.4% decline.
Auto Sector Trends: BYD COMPANY and XPENG-W showed slight gains, while other auto stocks like XIAOMI-W and NIO-SW fell between 3.9% and 5.1%, indicating mixed performance in the sector.
<M Stanley Analysis> Ratings and Price Targets for Handset Equipment Stocks (Table)
Xiaomi Stock Performance: Xiaomi's stock (01810.HK) decreased by 3.072%, with a short selling volume of $4.25 billion and a ratio of 31.560%. The rating was downgraded from Overweight to a target price of HK$45.
AAC Technologies Update: AAC TECH (02018.HK) saw a minor decline of 0.497% in its stock price, with short selling at $171.19 million and a ratio of 36.792%. Its target price was lowered from HK$50 to HK$42.
BYD Electronic and Sunny Optical Trends: BYD ELECTRONIC (00285.HK) dropped by 1.354%, while SUNNY OPTICAL (02382.HK) fell by 2.847%. SUNNY OPTICAL's rating was adjusted from Overweight to Equalweight, with a target price change from HK$90 to HK$62.
Q TECH Rating Change: Q TECH (01478.HK) experienced a significant decline of 5.153%, with short selling at $2.82 million and a ratio of 6.769%. Its rating was downgraded from Equalweight to Underweight, with a target price reduction from HK$17 to HK$7.2.
M Stanley Reduces 2026 Global Smartphone Shipment Projection by 15%
Morgan Stanley's Forecast: The firm predicts a 15% decline in global smartphone shipments for 2026, estimating 1.1 billion units due to rising memory costs and increased average selling prices by OEMs.
Impact on Android Smartphones: Higher component costs are expected to lead to significant demand shortages for Android smartphones, as consumers are more price-sensitive.
Stock Recommendations: Morgan Stanley favors XIAOMI-W among Android OEMs, while downgrading TRANSSION HOLDINGS to Equalweight. AAC TECH and BYD ELECTRONIC maintain Overweight ratings due to their exposure to Apple.
Target Price Adjustments: The broker has reduced target prices for AAC TECH and BYD ELECTRONIC, while SUNNY OPTICAL's rating has also been downgraded to Equalweight.
Lei Jun: China's Comprehensive Industrial Ecosystem Provides a Strong Foundation for Future Industry Expansion
Lei Jun's Remarks on Industrial Growth: At the China Development Forum 2026, Lei Jun emphasized that China's complete industrial ecosystem is crucial for future industry growth, highlighting the importance of technological innovation.
Impact of Industrial Foundation: He noted that the existing industrial foundation's depth and breadth significantly influence the speed and height of future industrial development.
XIAOMI's Technological Innovations: Lei mentioned XIAOMI's work on embodied intelligent robots, which depend on advancements in intelligent algorithms and require precise components like reducers and servo motors.
Future Development Support: He concluded that a diverse range of innovative technologies, a robust industrial system, and strong support capabilities are essential for fostering future industrial advancements.
Xiaomi's Lei Jun Announces Launch of New-Gen SU7 This Thursday
XIAOMI-W Announcement: Lei Jun, founder of XIAOMI-W, announced the official release of the new generation SU7, scheduled for 7 PM this Thursday (19th).
Improvements in SU7: The new generation SU7 has undergone over two years of refinement, resulting in significant enhancements in safety, driving control, intelligent experience, and luxurious quality.
Short Selling Activity Reaches $38.4B, Representing 22.8% of Eligible Securities Turnover by Midday
Short Selling Turnover: The short selling turnover in the Hong Kong market reached $38.4 billion at midday, accounting for 22.8% of the eligible securities turnover, an increase from 19.3% on the previous trading day.
Top Short Selling Shares: The top five shares with the highest short selling amounts include TRACKER FUND (02800.HK) with $8.62 billion, CSOP HS TECH (03033.HK) with $2.97 billion, and XIAOMI-W (01810.HK) with $1.59 billion.
Short Selling Ratios: TRACKER FUND has the highest short selling ratio at 49.3%, followed by CSOP HS TECH at 39.3% and XIAOMI-W at 36.9%.
Other Notable Stocks: HSCEI ETF (02828.HK) and BYD COMPANY (01211.HK) also featured in the top five, with short selling amounts of $1.32 billion and ratios of 20.3% and 28.3%, respectively.
HSI Drops 876 Points or 3.5% at Midday; Gold, Silver, and Resource Stocks Fall; Certain Auto Stocks Still Gain
Market Overview: The Hang Seng Index (HSI) fell 3.5% to 24,400, with significant declines in the HSCEI and HSTECH, reflecting a total market turnover of HKD192.375 billion.
Tech Sector Performance: Major tech stocks like TENCENT, BABA-W, and MEITUAN-W experienced declines of 1.9% to 3.7%, with high short selling ratios indicating bearish sentiment.
Gold and Silver Stocks: Gold and silver stocks faced substantial losses, with companies like CHINAGOLDINTL and ZHAOJIN MINING dropping 4.5% to 6.2%, while ZIJIN MINING reported a profit increase but still saw a 5.4% decline.
Auto Sector Trends: BYD COMPANY and XPENG-W showed slight gains, while other auto stocks like XIAOMI-W and NIO-SW fell between 3.9% and 5.1%, indicating mixed performance in the sector.
<M Stanley Analysis> Ratings and Price Targets for Handset Equipment Stocks (Table)
Xiaomi Stock Performance: Xiaomi's stock (01810.HK) decreased by 3.072%, with a short selling volume of $4.25 billion and a ratio of 31.560%. The rating was downgraded from Overweight to a target price of HK$45.
AAC Technologies Update: AAC TECH (02018.HK) saw a minor decline of 0.497% in its stock price, with short selling at $171.19 million and a ratio of 36.792%. Its target price was lowered from HK$50 to HK$42.
BYD Electronic and Sunny Optical Trends: BYD ELECTRONIC (00285.HK) dropped by 1.354%, while SUNNY OPTICAL (02382.HK) fell by 2.847%. SUNNY OPTICAL's rating was adjusted from Overweight to Equalweight, with a target price change from HK$90 to HK$62.
Q TECH Rating Change: Q TECH (01478.HK) experienced a significant decline of 5.153%, with short selling at $2.82 million and a ratio of 6.769%. Its rating was downgraded from Equalweight to Underweight, with a target price reduction from HK$17 to HK$7.2.
M Stanley Reduces 2026 Global Smartphone Shipment Projection by 15%
Morgan Stanley's Forecast: The firm predicts a 15% decline in global smartphone shipments for 2026, estimating 1.1 billion units due to rising memory costs and increased average selling prices by OEMs.
Impact on Android Smartphones: Higher component costs are expected to lead to significant demand shortages for Android smartphones, as consumers are more price-sensitive.
Stock Recommendations: Morgan Stanley favors XIAOMI-W among Android OEMs, while downgrading TRANSSION HOLDINGS to Equalweight. AAC TECH and BYD ELECTRONIC maintain Overweight ratings due to their exposure to Apple.
Target Price Adjustments: The broker has reduced target prices for AAC TECH and BYD ELECTRONIC, while SUNNY OPTICAL's rating has also been downgraded to Equalweight.
Lei Jun: China's Comprehensive Industrial Ecosystem Provides a Strong Foundation for Future Industry Expansion
Lei Jun's Remarks on Industrial Growth: At the China Development Forum 2026, Lei Jun emphasized that China's complete industrial ecosystem is crucial for future industry growth, highlighting the importance of technological innovation.
Impact of Industrial Foundation: He noted that the existing industrial foundation's depth and breadth significantly influence the speed and height of future industrial development.
XIAOMI's Technological Innovations: Lei mentioned XIAOMI's work on embodied intelligent robots, which depend on advancements in intelligent algorithms and require precise components like reducers and servo motors.
Future Development Support: He concluded that a diverse range of innovative technologies, a robust industrial system, and strong support capabilities are essential for fostering future industrial advancements.
Xiaomi's Lei Jun Announces Launch of New-Gen SU7 This Thursday
XIAOMI-W Announcement: Lei Jun, founder of XIAOMI-W, announced the official release of the new generation SU7, scheduled for 7 PM this Thursday (19th).
Improvements in SU7: The new generation SU7 has undergone over two years of refinement, resulting in significant enhancements in safety, driving control, intelligent experience, and luxurious quality.
