Xiaomi shares jump 20% ahead of Q2 results as EV hopes build
What's next: Investors are watching whether margins held up against memory costs and if the EV unit can still chase its 550,000 delivery goal.
Xiaomi's stock has risen nearly 20% in Hong Kong since the end of June, putting the smartphone and electric-vehicle maker on track for its best quarterly rally in more than a year ahead of second-quarter results due Aug. 18. The rebound follows four straight quarterly losses tied to weak smartphone demand and higher component costs. Traders are now focused on whether Xiaomi can protect profitability as memory prices stay elevated and shift sales toward higher-end phones. Its EV business has added momentum, helped by enthusiasm around new SUV models, though Bernstein warned the company's 550,000-vehicle delivery target will require a fast ramp of the SkyNomad.