On September 9, XIAOMI-W fell 3.05% in regular trading, trading at HKD 26.1/share, with turnover of HKD 1.974 billion. The stock has now declined for three consecutive sessions, following drops of 3.16% and 2.11% on September 7 and 8 respectively.

The decline was triggered by a combination of factors. A Pengcheng series test drive accident went viral online after a vehicle drove off-road onto a green belt, prompting the company to clarify that the customer mistakenly pressed the accelerator instead of the brake, with no injuries reported. The incident added negative sentiment atop an already ongoing correction driven by classic buy-the-rumor-sell-the-news dynamics following the September 7 launch of the Pengcheng N70 and N90 series, which saw lock-in orders surpass 10,000 units within four minutes.

Market concerns also linger over delivery execution. Xiaomi has cumulatively delivered just over 800,000 vehicles, completing approximately 44.8% of its full-year 550,000-unit target, leaving significant delivery pressure over the remaining four months. Meanwhile, major brokerages including Morgan Stanley and Goldman Sachs have maintained positive ratings with target prices of HKD 33 and a Buy rating respectively, though J.P. Morgan flagged that subsequent Pengcheng order trends and folding phone shipments remain key watchpoints.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)