HONG KONG, July 25, 2026, 01:14 HKT — Markets have finished trading for the weekend.
Xiaomi Corporation HKG:1810 finished Friday’s session at HK$26.72, slipping 1.55%. The company bought back 1.86 million shares, spending close to HK$50 million.
Spending in the June programme is initially estimated at HK$2.20 billion. This means roughly HK$17.8 billion, or 89%, remains.
There is significant unused capacity. Recent purchasing activity was limited.
Xiaomi acquired 5.56 million shares over three trading sessions this week, representing 0.84% of the total weekly volume of 660.88 million shares.
The scale indicates only modest price support in the short term. A more significant impact may occur if cancellation reduces the share count.
Since June 3, Xiaomi has repurchased 89.18 million shares for cancellation. These account for 0.35% of issued shares as of the mandate date.
The average purchase price is estimated at HK$24.62. Friday’s closing price was 8.5% higher than this level.
Initial estimate: based on a price of HK$26.72, the available capacity would allow for the purchase of 666 million shares. This represents approximately 2.6% of the total shares reported on Friday.
Finishing and scrapping the entire programme may increase earnings per share by roughly 3%. The projection is based on steady profit and no additional issuance.
Friday’s drop was nearly in line with the Hang Seng TECH Index. The week overall was less positive.
| Stock or index | Friday close | Friday move | Week move |
|---|---|---|---|
| Xiaomi Corporation HKG:1810 | HK$26.72 | fell 1.55% | edged down 0.6% |
| Hang Seng TECH Index | 4,629.51 | decreased 1.47% | gained 0.1% |
| BYD Company HKG:1211 | HK$88.65 | unchanged | slipped 0.1% |
| Geely Automobile Holdings HKG:0175 | HK$19.06 | rose 2.92% | advanced 3.1% |
The week measures the closing prices from July 17 to July 24.
Throughout the week, Xiaomi underperformed the technology index by roughly 0.7 percentage points. Geely gained 3.1%, and BYD showed little change.
The environment continues to be challenging. Profit for the first quarter dropped by 43%. Adjusted net profit reached 6.1 billion yuan, missing the analysts’ consensus estimate of 6.4 billion yuan.
Revenue from smartphones declined by 12.5% to 44.3 billion yuan. The gross margin for handsets decreased to 10.1% from 12.4%.
Xiaomi President William Lu described elevated memory expenses as the “new normal.” The company anticipates the rise in costs will begin to ease from the third quarter. Reuters
Revenue from electric vehicles increased by 5.1% to 19 billion yuan. Operating losses from EV, AI, and other new businesses amounted to 3.1 billion yuan.
Risks persist. HK$20 billion represents a maximum, rather than a promise. Increased prices, lower profit, or greater spending on EVs would lessen the projected gain.
The upcoming scheduled company event is on August 18. Xiaomi’s board plans to review interim results and discuss any interim dividend.
China faces two key events next week. The central bank is set to conduct daily overnight reverse repos totaling 600 billion yuan from Wednesday to Friday. The country’s official purchasing managers’ index for July is scheduled for release on Friday at 09:30.
Up to August, daily reports on repurchases offer the most direct signal specific to the company. The programme has the potential to enhance per-share figures. There was no price floor established this week.
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