GoKawiilA journalist films Xiaomi SU7 Ultra cars during a Xiaomi track day driving experience in Tianjin, in northern China on April 23, 2026, ahead of the Beijing Auto Show which opens on April 24. (Photo by GREG BAKER / AFP via Getty Images)
Xiaomi reported its third consecutive month of having over 30,000 deliveries in June. The company's shipments from January to June totaled over 180,000 units, representing about 33% of its 2026 delivery target of 550,000 units, according to Citi.
Hong Kong-listed shares of Chinese electric vehicle makers surged Thursday after June delivery figures buoyed investor sentiment, with BYD gaining around 9% and Xiaomi climbing about 5%.
Citi said Xiaomi's shares could rebound in August with the launch of its YU9 luxury sport utility vehicle.
"Any sign of memory peaking given more capex announcement from global Chinese memory makers could be positive to Xiaomi shares," it added.
Meanwhile, BYD posted a vehicle sales volume of 403,472 units in June, up 5.46% from 382,585 units in the same period a year ago.
Deutsche Bank said BYD's second-quarter sales volume rose 58% from the previous quarter to 1.1 million units.
"We forecast the company's quarterly net profit to increase 145% QoQ to RMB 10 billion in the second quarter," according to a note by Deutsche Bank.